I applied for a personal loan this evening which was accepted and I was informed that the documents will be posted out to me within 5 working days and then I need to post these back. After they are received back they will send the money within 48hrs.
In preparation for applying I had looked online and in FAQs and elsewhere it said that if applied for online then you would have the option to digitally sign the agreement and receive the money within 48hrs.
But so far I have had no option for this and I had timed it so I could apply today and receive money for Friday. I will contact support in the morning but wondered if anyone had any words of encouragement that I will have this option or could confirm my fears that Friday is unlikely now.
@Jamesca80 Hey there, thanks for getting in touch!
Not all applications are eligible for a digital signature, I'm afraid. Your credit agreement will arrive in the post within 3-5 working days. Once you've returned your signed credit agreement, we'll be able to send your funds to you after we've run some final checks.
Ok thanks for confirming, it is a shame though as I did research this and I would say in hindsight that perhaps Tesco should look at the wording of the below (and other examples) to make it more clear to people.
I know you and others may say "well it only says 'may' be able to", but I think it could be clearer to manage expectations.
I understand if further information is needed but I have been accepted (no further info required) and my welcome pack is being sent out with the credit agreement to sign and return. This seems to meet the criteria of being able to sign digitally. It also worries me that you say "after we have run some final checks" which I am slightly confused by when I have acceptance emails and confirmation of my loan via email.
Last edited by Jamesca80; Today at 10:37.
Reason: Spelling
@Jamesca80 I can appreciate this may be frustrating and I'm sorry that we didn't meet your expectations in this instance. I will pass your comments on to the relevant department as feedback.
We need to run some regulatory checks before we can issue funds, these are nothing to worry about. However, if there are any issues, we'll be in touch with you directly to resolve.
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ChristopherP
