Prêt Instant is proud to offer the quickest, most secure system on the market. With its 256 bit encryption, Instant Banking Verification is the easiest way to get a loan in Quebec.
This system, used by large banks and financial institutions across Canada, lets us lend you the money you need instantly! You won’t even need to send a single document.
What is IBV (Instant Banking Verification)?
IBV is the technology that’s currently in use by large banking institutions. It allows us to view a read-only copy of your banking statement which lets us confirm your banking information. This lets us approve you for a loan quickly, without you having to send us a single document.
Is IBV secure?
Though the technology seems simple, it is the most secure on the market. It is the same system used by large Canadian banks. We are never given access to your username or password.
What do you do with the information provided by the IBV?
Does this give you my username and my password for my bank account?
Never. It is impossible for us to connect directly to your bank account with this system. It simply sends us a read-only copy of your most recent banking statement for us to review.
Do I need to use the Instant Banking Verification System?
This is the easiest way to apply because it is paper free. You don’t have to go through the hassle of finding a fax machine, scanning documents or mailing physical copies. That being said, if you are uncomfortable with the paperless system, the traditional method is still available. To apply using the traditional method, send us your banking statement for the last 31 days, a recent pay stub, proof of identity, proof of address, and a voided cheque for approval. This can be sent to email@example.com or through your client account.
Annual Interest Rates
The financial institutions we work with offer an annual interest rate of minimum 29% and maximum 32%.
Example of a Loan
A reimbursable loan of $750 can be repaid in 10 installments of $119.48.
The information above is provided for descriptive purposes only using a $380 application fee payable to the official agent and broker. The official agent and broker alone determines the fees and expenses of each file at their own discretion, independent of the interest charged by the lender.
In Case of Default
NSF: A fee of fifty dollars ($50.00) will be charged for bounced cheques and also charged in the case of bounced pre-authorized payments. Your financial institution will also charge you an NSF fee for any bounced payments.
Deferral of Payment: If the debtor would like to defer a payment to later than the date agreed upon in the original agreement, an administration fee of $ 35.00 will be charged. In order to defer a payment, the debtor must inform the lender at least 72 business hours before the date of collection.
Other Services and Conditions
Terms of Renewal: Loans are not renewed automatically. Loan renewals can only be made after the customer has submitted a request and it has been approved by our company.
Terms of Repayment: The terms of repayment on our loans varies between 3 and 6 months.
Collection and Credit Score
Our company is in compliance with Canadian laws, regulations and legal standards. If a particular situation arises during your repayment period, our collection department will establish a repayment agreement with you based on your situation. Should the debtor default on one of any repayments under this contract, the creditor can demand full payment of any outstanding balance, capital, interest and costs. All judicial and extrajudicial costs that could be reasonably incurred by the creditor as a result of defects in a contract by the debtor, will be claimed and returned to the creditor from the debtor. In the event that no payment agreement is possible between the debtor and the creditor, the creditor may assign the file to a collection agency, which may affect the debtor’s credit rating/score.