The process of applying for a bank loan can sometimes be burdensome. Choosing the best bank or loan broker offer, providing documents answering numerous questions about our situation. In addition, the very process of analyzing a loan application by a specialized bank unit can be burdensome. The analysis department calls the client asking whether he has applied for income. Half poverty if it ended. In some cases, the loan application analyst will call our employer. What does the bank verification of the employer look like?
With what loans does the bank call the employer
Each bank determines its lending policy, which means the verification of individual amounts granted to customers. In general, it can be said that banks have two paths for granting loans.
The first is the decision at the facility level, or automatic. The decision is made immediately, there is no phone to the employer, there is no major verification. This path is intended for bank customers, proven and reliable or for foreign customers, but for lower amounts, eg up to USD 40,000. However, there is no rule here, each bank sets the available amounts differently. Much also depends on the client’s score in BIK. The better it is, the lower the likelihood of excessive customer verification.
The second credit granting path is a decision subject to credit analysis. The documents collected by the credit intermediary or bank adviser are forwarded to the bank’s analyst. Such a man looks at the documents in detail. He calls the customer to confirm all income and scoring data (residence, number of dependents, marital status). He can also call the employer to be fully convinced of the reality of client employment. Clients who are subject to the analysis process and phone calls to the employer are usually weaker clients in BIK and those applying for higher amounts.
Consent to verify
We do not always read loan applications signed when applying for a bank loan. The client’s consent to the employer’s verification must be included in them. Lack of such consent will unfortunately result in the application being refused. Even in loans based on a declaration in which employers are not checked by default, it will be necessary to sign such consent.
Why does the bank call the employer?
Despite providing the bank with reliable documents confirming income, the bank wants to call the employer? This practice allows to reduce the scale of credit scams. Not always an extract from the client’s account history where transfers from the employer are found will be reliable. Is a certificate issued by a small company. Banks are generally safe institutions, which is why they practice employer’s phone verification. If the analyst continues to have doubts, he may also ask for documenting contributions to ZUS from the last 3 or 6 cities.
The employer does not confirm employment
But what if the employer does not confirm the client’s employment? Many large companies adopt a data protection policy. The company has no guarantee that the number that calls them is definitely the number of a bank adviser or analyst. Therefore, it refuses to confirm the client’s income. In such situations, the analyst may want other credible confirmation, such as a document from ZUS, or in an exceptional situation may issue a negative decision.
Confirmation of the issue of an income certificate
Another group of employers are those who do not confirm the client’s employment, but are able to confirm the issue of the certificate. When a person from a bank contacts an employer, a specific document is verified, eg a certificate number 146.03 / 2018 that was actually issued, the date of issue or the person issuing the print. There are no questions about the customer’s income details. Such a policy contributions to the protection of employees’ personal data, and does not preclude correct verification of the customer with bank loans.
Employer verification by the bank – field verification
Field verification of bank employees is a special type of employee verification as well as their income. From the information available to us today, such verification is carried out in some cases . One of the stages of verification of this bank may be (most of it is missing) field verification. Field verifiers are also not very onerous employees, their role is to maintain maximum discretion when visiting the client’s workplace. Such a procedure allows to minimize the risk of granting loans if so-called pole company artificially created to extort loans immediately, this practice will be shortened. Legally working people have nothing to fear.
Questions asked during phone verification
When the verification of the client’s application reaches the stage of income verification, there is also nothing to fear. The bank calls and asks for the simplest things like
- Form of work (working time)
- Since when is the employee employed?
Of course there is no rule. The same questions are not always asked. It should be taken into account that the bank’s analysis department analyzes hundreds if not thousands of applications per day. There is no time in this process for long in-depth interviews with employers. In addition, providing this information is the good will of the employer, the more bank analysts must be people with impeccable personal culture.
Phone to the employer – reliable and visible on the Internet
It is extremely important for the employer and his company to be visible in internet searches. Anyone can declare a job in a smaller company and provide their brother-in-law’s number so that he can be an employer. To avoid such unlawful practice, each bank will call the telephone numbers of companies visible on reliable websites.
If the phone number is not visible, the bank can even refuse to grant a loan to the customer. Employer verification by the bank may not even be carried out when there is no contact number.
Phone is the simplest form of verification
We distinguished forms of customer verification in the process of granting a bank loan. Document analysis, employer’s phone number or field verification. By far the simplest form remains making one quick phone call to the employer to confirm income data. However, as we have already mentioned, the verification of the employer by the bank depends on the bank’s credit policy and the amount awarded.
If you have a problem getting a bank loan, just get in touch with a recommended credit advisor through your employer or bank analysis. A competent adviser will help you determine the reason for the rejection of a loan application and obtain a cheap loan for you in which it will avoid problems with employer verification. Employer verification by the bank in the case of cooperation with good credit intermediaries is usually limited to a minimum or not at all.