Banks are required to verify identity
The process of opening a bank account online or applying for an online loan in the form of the so-called post-identification procedure is familiar to all of us. Here you had to identify yourself and have your identity confirmed. Your identity is verified as part of the PostIdent process; a Swiss Post employee confirms your identity on the basis of your photo ID and attaches the coupon. Banks are required to verify identity, as required by the Money Laundering Act. More and more banks finally accept the legally permissible alternative – the video identity.
Online credit without a post
The German law provides for borrowing in the Federal Republic, in principle, a possible loan procedure, provided that the proof of identity has not already been carried out itself. Borrowing within the legislature is the receipt of cash withdrawals. The post-claim procedure includes the assurance of the post employee that the personal data provided is correct. Anyone who is already familiar with a lender from existing or old business relationships can also complete a loan without the Postident procedure.
The one-time identity check is sufficient in this case for all other orders. This usually happens when account holders of a house bank take out a loan there for the first time, but even the repeated application for a loan with the same lender does not force a new identity check. If an online bank has branch offices at the same time, the borrower can also have a personal identity check carried out there.
Creditworthiness for normal loan amounts
If you order at a mail order company over the network for partial payment, you even ask them directly through the network for a loan without the Postident procedure. According to the Money Laundering Act, an identity check is not required because the loan amount is not paid in cash. The delivery of the package sent to the customer against his signature is sufficient for the merchant as a security, even if the postman can hand over the goods to a neighbor and a roommate and usually does not check the person of the signer.
Domestic credit institutions may also obtain authorization in another EU country. If the selected house bank owns a Luxembourg banking license, a copy of the ID card will suffice as proof of creditworthiness for normal loan amounts. On the other hand, lenders with German approval may not accept copies of an ID card, as it is considered easy to counterfeit.
Identity check at a lender’s branch
Due to the simplified identity verification, certified Luxembourgish banks can also grant loans without the Postident procedure. Of course, this is not a credit card without ID, as it is based on a copy of the ID card. The payment of an online balance without a post-ID procedure can be made more quickly than with the identity check via Postbank.
The identity check at a lender’s branch, if any, and the verification of the details by faxing a copy of your ID card is possible on the same day as the completion of a loan application, while the postident process information is available to the lender the following day ,