Loan seekers who apply for an online loan keep hearing the term “postident” and wondering what that is. The Postident is prescribed by law and is a personal identification based on the identity card, i.e. an identity check. Previously, no loan could be granted if the postident was not available, but a few things have changed. There are other ways to get an online loan without Postident.
The initial situation
This includes that some providers are satisfied with a copy of the ID card. The employment contract also serves as proof of identity. Copies of bank statements and proof of salary are also recognized. The technology did not stop at the Postident, of course, and there are some providers who now offer the Video-Ident.
Anyone who has previously applied for an online loan may have already been asked to make the Postident. This has to be done at the post office. The customer thus carries out an identity check based on his name, place of residence and age. A postal employee checks the data of the postident with that of the ID card and issues a corresponding certificate.
This is prescribed by law with regard to the Money Laundering Act. The loan seeker must also identify himself when applying for a loan in a branch. This process is also required when opening an account. Gone are the days when a bank employee simply ticked the box next to “person known”.
Usually this is for a customer who lives in the city and a post office nearby has no problem. Only the opening times could be problematic if, for example, the customer has a long working time in the evening. Then Saturday would still be available.
However, if the customer lives in the country where there is a post office in the next town or even further, it looks worse. These branches also often have short opening hours. Anyone who works has problems there. It should also be mentioned that the postident’s process can slow down a loan application. Because a credit without Postident is not approved.
The loan seeker does not have to fear costs for the postident. Normally the lender bears the costs. The costs incurred can then be found in the total costs of the loan without Postident. The actual process of the Postident is not long, it is done quickly, the customer does not have to plan a long wait. Often, the identity control certificate with the necessary credit documents is sent to the lender, which should then be there the next day.
Alternatives to the postident
If the customer applies for a loan without a Postident in a bank branch, the Postident is not applicable. The employee will determine the identity of the customer based on the presentation of the identity card at the counter. The customer should note that his identity card is still valid. It is important here that the customer must adhere to the opening hours of the bank.
In general, the customer can assume that where there is no post office or bank branch. The customer can also assume that an online loan always has better terms than that of a branch bank.
The customer can avoid legitimation at Swiss Post if the branch bank is connected to an online bank. The customer can then legitimize himself at this branch.
Foreign banks that provide online credit without Postident often occur, especially when it comes to a small loan amount, that a copy of the ID or an electricity or water bill is sufficient. Whether this process is ultimately faster remains to be seen, because not everyone has a copier at home. Not everyone also has a smartphone, which the customer could switch to by photographing the ID and sending it to the bank by email.
That would be an alternative, but not all foreign banks accept this option and many of these banks do not offer particularly good conditions for a loan without Postident.
The video ident
A new development on the financial market can be seen in credit without Postident with video legitimation. To do this, the customer must have a powerful computer and a webcam, plus a valid ID card. Age, place of residence and name are entered in the form provided. An employee then uses video chat to compare the data with that on the ID card. The ID is held up in front of the camera.
The next step is to take photos of the identity papers. The customer receives a so-called TAN via SMS, which he has to enter in a previously specified field. After that, the authentication via the PC is completed. There are a total of 10 steps required for the video ident. Providers who do this have noted this on their pages.
Once the identity check has been completed, the credit documents for the loan without Postident must be sent by post, if this has not yet been done. Salary slips, bank statements and a copy of the employment contract and a small household bill are required as credit documents. The online identity check has a little catch, it cannot be offered for 24 hours.
Not all online banks offer video ident. Online banks do not have a special area with extra employees, this service is outsourced. Large providers such as the company WebIF Solutions from Berlin have been approved by the Federal Financial Supervisory Authority. Swiss Post has also responded to this new development and is offering its own procedure. The name Postident Video.
The customer is then not with a bank employee of the commissioned bank, but with an employee of another company. For this reason, no additional questions should be asked unless they concern legitimation.
Other banks also provide the loan without Postident. Here, the legitimation of the transmission of ID copies by e-mail is carried out by uploading image files. However, this process is not yet so widespread, primarily the video ident is used.
The online legitimation does not only refer to the credit without Postident, securities accounts, current accounts or credit cards can certainly be provided online, whereby it can be legitimized online.
In general, however, a new identity check is no longer necessary if one has already been carried out at the bank.