WireLend Personal Loans Review

Wirelend Personal Loans ReviewWireLend is an Idaho based company that specializes in personal loans and debt consolidation loans. It focuses on quick loan transactions that involve three simple steps: application, approval, and secure wire transfer. Yes, the company wires the loaned amount to you. This kind of convenient service is not widely used but is not rare.

WireLend Personal Loans Review – How It Works

The system offered by WireLend is temptingly good. It promises fast loans that don’t involve long drawn out application procedures. The company claims that you will know whether or not your loan has been approved in a matter of minutes. Once your loan is approved, the money will be directly transferred to your bank account. You just have to apply and present the following requirements: valid social security number, valid driver’s license, and current checking or savings account. Of course, only those of legal age are qualified to apply for loans.

The approved loan amount will normally be wired and reflected on the applicant’s bank account on the next business day after the loan was approved. There are cases, however, when the amounts are immediately wired and reflected.

Personal Loans
The personal loans offered range from $100 to $2,500. Customers from the different parts of the United States and Canada can try applying. Application is done through an interactive online form. A series of questions will be asked. Filling the form can take some time so you have to be patient. Your web browser should also have Flash enabled to be able to access the form. After completing the form, the page automatically redirects to a secure website. You don’t have to worry if you may have committed some mistakes while completing the form. A customer representative will contact you to clarify certain details. However, you need to be careful as you complete the application form.

Debt Consolidation Loans
Debt consolidation loans are loans designed to simplify and possibly lower the costs of paying different type of debts. These loans can be used to pay off credit cards, payday loans, and other outstanding unsecured financial obligations. Applying for a debt consolidation loan is similar to applying for personal loans. An online form needs to be completed and submitted. The form is SSL secured and redirects to a secure page upon completion.

Loan Rates and Terms
WireLend is a company that complies with State and Federal regulations pertaining to the operation of lending or financial service businesses. As such, you can expect that its terms and rates are reasonable and well within the limits set by law. Unfortunately, the complete terms for the specific loan you plan to get may not be viewed until you receive your copy of the contract. Hence, you have to carefully read the terms before signing.

The amount that can be loaned depends on the limits set by state laws. WireLend offers as much as $2,500 for a single personal loan. The rates are in the vicinity of $5 to $30 for every $100 of loan. If you are unable to pay the full amount of your loan upon maturity, it is possible to apply for refinancing although not every WireLend outlet offers this option. On the other hand, if you have an excess of funds and you want to pay your loan earlier, you can do so without worrying about penalties for prepayments.

Security
The online loan application process offered by WireLend is made secure with the help of Digicert technology. You can expect secure transactions and be assured that the details you submit will not be used by parties not related to your transactions with WireLend. The company promises that non-public personal information about customers will not be accessed by marketers and employees who are not supposed to know them. Additionally, the company implements Extended Validation (EV) guidelines to ensure secure and convenient services.

Customer Service
WireLend’s “about us” page proudly asserts that the company is devoted to excellent customer service. It mentions a guarantee of the highest level of customer service. The company promises prompt response to those who send inquiries about the services available or about the company itself. WireLend can be easily contacted by telephone, fax, and email. An office address is mentioned but there are no details on branch or affiliate locations presumably due to the completely web-based nature of WireLend’s transactions.

Our Recommendation
The system of extending loans being used by WireLend is theoretically excellent—to the point of being too good to be true. The information on the company’s website makes it appear that the company is on the losing side since nothing is mentioned about how it intends to ensure its customers’ ability to pay. Nothing is mentioned about what kind of setup the company will use to ensure loan payment. This is something that should be clarified. Nevertheless, the services offered by WireLend are highly convenient and really worth trying.

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