Let’s address the elephant in the room
Bankeroo’s Consent to Disclosures
EFFECTIVE DATE: JUNE 30, 2017
At Bankeroo, our goal is to help you reach financial freedom. That’s why we report your payment behaviour to all major credit bureaus, helping you rebuild your credit one loan at a time.
As part of your application for a loan with Bankeroo, we request your authorization to make a hard inquiry on your credit report. You understand that by applying for a loan and by clicking the appropriate disclosure boxes during the application process, you are authorizing us to obtain your personal credit report or any other information from one or more consumer reporting agencies.
You understand that the credit inquiry may have a temporary negative impact on your credit score. Every new request for credit will be reflected in your credit score but over time, your on-time repayments can help you improve your credit score. We further report all your behavior, both positive and negative, to one or more of the credit reporting agencies.
You authorize Bankeroo to verify the personal information you submitted in your application.Bankeroo also reserves the right to cross check your personal information against a range of data sources to validate your identity and approve your application.
By applying and accepting a loan from Bankeroo, you authorize us to obtain credit reports every time you request a loan, or at various times during the term of your loan, or any extension period thereof, in connection with the servicing, monitoring, collection or enforcement of the loan.
As part of your application for a Bankeroo loan, we also request your authorization to retrieve a summary of your banking activities for the previous 90 days. You understand that by applying for a loan and by clicking the appropriate disclosure boxes during the application process, you are authorizing us to obtain a copy of your bank statement for the past 90 days from your designated financial institution. This allows Bankeroo to obtain a clearer understanding of your financial situation and more accurately assess your suitability for one of our loans.
At Bankeroo, we go beyond industry standards to make sure your personal information is always safe and secure with us. That’s why we never keep a record of your online banking username or password. Your online banking username and password are encrypted when you enter them, they are then passed on to your bank to gain access to your account history and then permanently deleted. Your transaction history is kept encrypted and delivered to Bankeroo using secure banking protocols and stored using the highest level of encryption.
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