You should never provide sensitive information to an online lender until you’ve verified that you’re dealing with the legitimate company and understand why the information is required. Be particularly careful with your Social Security number, bank-account details, passwords, online-banking credentials, and copies of identity documents.
A legitimate lender may need certain personal and financial information to evaluate your application, but you should submit it through a secure, verified website rather than through an unexpected email, text message, or social-media account.
Never give an online lender your banking password or allow an unknown person to access your bank account on your behalf. Be suspicious if someone asks for gift cards, cryptocurrency, wire transfers, or unusual upfront payments as a condition of receiving a loan.
Before applying, verify the lender’s website address and contact information independently. If an offer seems suspicious, don’t provide additional information. You can also review our guide on how to protect yourself from online loan scams.
