- What is Ferratum?
- Ferratum Features
- Ferratum products
- 1. Microcredit from Ferratum Bank
- 2. Flexible credit or line of credit
- 3. Ferratum Bank Card
- Conditions of Ferratum loans
- How to get fast money in Ferratum
- Ferratum review Is it legit?
- Frequently asked questions about FerratumBank loans
Ferratum Bank is a financial institution dedicated to fast online mini-loans that works on the innovation of mobile banking. Like other entities in the same sector, Ferratum offers variable amounts from € 100 to € 500.
The offer of Ferratum loans is what has increased the attractiveness of this entity for users. But what makes it different from this institution regarding CCloan or Dispon ? Read on for Ferratum opinions and more information!
What is Ferratum?
It is the trademark of Ferratum Bank PLC , based in Malta and operating in more than 32 countries around the world. Such as Germany, Estonia, the Netherlands, Poland, France, Norway, Russia, Sweden, Australia, Canada, United States, among other nations.
It was founded in 2005 with the aim of offering fast, reliable and secure mobile credit solutions to solve any financial problem. Ferratum Bank has different security seals that validate its reliability.
Like the Norton Secured and VeriSign web security seal, which guarantees the confidentiality of all transfers. As well as the Trustly seal that guarantees security in payments, and the Instantor seal that allows to validate the data quickly to reduce the time it takes to grant the loan.
Among the main characteristics of its credits , it stands out:
- It works as an online loan portal and a mobile banking platform .
- The site is easy to use, it can be accessed from a computer or mobile .
- At ferratum United States , the support and customer service team is available 24 hours a day to assist you in Ferratum customer area .
- It offers two types of credit: online microcredits and lines of credit . Both are alternatives with specific characteristics for each type of client, since they differ in the amounts allowed and the conditions of use.
- All their services are commission-free with the condition that you do not exceed the limits of each of their services. For example: if you only allow 4 free cash withdrawals at ATMs, if you exceed this limit, you will be charged a certain commission. The same if you need printed documents.
Ferratum offers its customers 3 main products.
1. Microcredit from Ferratum Bank
FerratumBank instant microcredits are fast online loans that are characterized by being a low amount. You can request up to € 300 to be returned within a maximum period of 30 days . You just request the money, the request is approved and you receive the money in 15 minutes. No interest for the first loan .
The APR (Annual Equivalent Rate) of this Ferratum United States mobile loan will vary according to the amount and repayment term you choose. You can request the credit instantly in the personal area.
2. Flexible credit or line of credit
A line of credit works the same as a credit card, but without the need for plastic. At Ferratum Bank, you can use this Flexible Credit whenever you want and pay interest only for the money you have used.
The maximum limit you can request is € 1,000 (as a regular customer) or € 300 (as a new customer), and then raise the limit to € 500 . When you return it, the Flexible Credit is renewed and returns to the initial amount.
3. Ferratum Bank Card
If you are going to open an account with Ferratum Bank , there are several services that you can enjoy. As your free card :
Free Contactless FerratumBank card
Ferratum gives you a free MasterCard . Among the advantages of this product:
- You can use it in all the European countries you visit , and at any ATM without this involving constant commissions. Of course, you can only make cash advances 4 times a month. After that, they will charge you additional commissions.
- Your Ferratum account is multi-currency . Therefore, if you are in a country where the US dollar is not the main currency, you can use the card without problems.
- The MasterCard card has Contactless technology . So you can make small payments just by bringing the plastic closer to the payment device.
- You can manage all the movements of your card from the mobile application .
- If you run out of credit, you can request an additional one without justifying what it will be for.
Conditions of Ferratum loans
FerratumBank credits meet certain conditions. That is to say: amount, terms and extensions and interests:
Ferratum Bank offers an interest-free loan of up to € 300 for new clients and up to € 1,000 with interest in the Flexible Credit modality.
Deadlines and extensions
Microcredits have a term of 5 to 30 days , and credit lines up to 6 months . If you cannot pay on time, you have the option of requesting two extensions within 5 days of the expiration of the refund period . And you will have 15 more days to pay.
The APR will always depend on the amount and the term, but it ranges from 0.00 to 1309.00% , approximately.
How to get fast money in Ferratum
The steps to get fast money without paperwork in Ferratum flexible credit mode are very similar to those of other operators, but you must know the requirements:
|Be between 25 and 70 years old|
|Valid DNI or NIE|
|Have a mobile phone|
|Have regular income|
|Be the owner of a bank account|
|Not be in a delinquent file|
The application process at Ferratum
- Enter the Ferratum Bank website or mobile app and enter the amount you need in the simulator
- Fill in the form with your personal data
- Request your fast loan
- In a few minutes you will receive the answer to your request
- If the answer is positive, you will receive the money in your account in a few minutes
Ferratum review Is it legit?
The Ferratum Flexible Credit is one of the main virtues of this entity. Although there are other institutions that offer microcredits of up to € 1,000, few offer the conditions of FerratumBank.
It is an entity that works under the form of an online bank that has a practical and intuitive mobile application . Your line of credit is the most requested product, since through this it is possible to make money withdrawals until the credit is completed. The return times are comfortable and allow up to two extensions .
The granting of the loan, which does not take more than 24 hours, is the main virtue that is read in Ferratum opinions. The customer service at Ferratum is also on time and friendly. And it is an alternative for travelers who need to have their money available in countless countries and in various currencies.
As a generic recommendation, reading the agreement before signing it is essential to avoid future surprises in the "fine print".
Frequently asked questions about FerratumBank loans
Some frequent questions about FerratumBank loans :
Up to € 1,000, as a regular customer.
You will have to pay interest for late payments and other penalties.
FerratumBank mini-credits are available 24 hours a day, 7 days a week (including holidays).
Microloan and line of credit.
Credit card, bank transfer or secure payment by Trustly.