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How Payday Loan Companies Protect Your Personal Information

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Most payday loan companies have systems in place that makes sure your personal data is protected. Payday loan companies usually don’t sell your data to make money. They make money by giving loans, not by selling data. They are not into data selling business.

But you should ensure you are only applying with companies that have in their terms that they will protect your data. Good news is that most payday loan companies keep your data secure. Moreover now-a-days there are so many laws to protect privacy that they have no other option but to keep your data secure. If caught their business might be closed. They would like to remain in business, don’t they?

But why do payday loan companies ask for your data?  Payday loan companies need your data to give you a loan. If you don’t give them your bank account number, social security number and other details, how will they ever give you a loan?

You see lenders need this data to give you a loan – one to take a decision on whether to approve you for a loan or not, second – to send the cash to your bank account. For both your data is required.

Online payday loan companies have a website from where you can apply for a payday loan. These websites needs to be secured as a lot of sensitive data passes through when you apply for a loan. Most of the payday loan companies online have a website that is secured. Which means it will have https:// at the start of their URL instead of the usual https://. If you see a payday loan website with only https:// it means they have not secured their site and there is a possibility that your data may be stolen when it’s traveling online through the wires. It’s advisable to apply a loan only through secured websites.

Don’t worry the popular and big payday loan companies have made their websites secured. Even 100 Day Loans has made its website secured so if you want to apply a loan from them you can apply in their https:// version of the site. Its here: https://www.100dayloans.com/

The secured payday loan websites uses modern encryption technology to ensure that your valuable personal data is posted in their servers, read and exchanged only with authorized persons and or lending partners.

All this will be written in the terms page of the site. Or you may need to ask the lender before applying online how they secure your personal data such as social security and bank information.

If your lender is unable to answer your security related questions – it’s better to avoid that lender. You are better off applying with a payday loan company that will secure your data.


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