The use of consumer friendly technology by most service providers is on the rise. Companies are pouching advertisement to people’s mobile phones and the latest is the use of short messaging service for the application of loans from financial institutions. This is one way of getting loans approved without using the traditional method of visiting the bank to apply for a loan or the online method. People can now apply for instant text loans as they are on the move. You will be required to register certain information about yourself and your mobile phone number with the financial institution you will be seeking these loans from. There is a plethora of banking institutions in the UK that are offering this service. You will be given a PIN number that you will use for the purposes of applying for your loan.
You no longer need to be connected to the internet in order to make a quick application for a loan. You can now get access to instant loans as you walk to the supermarket by means of your mobile phone. Instant text loans of up to 100 pounds can be given for a period of one week. The money will be processed through your bank account and you will be expected to repay the loan through the same account. There are banks that are flexible enough to give you an extension on your payment period if you are unable to repay the loan on time. You will be charged extra for this extension.
You need to be a citizen of the UK in order to qualify for instant text loans. You will also be required to have attained the age of 18 years. You will be given a bank account linked to your mobile phone when you apply, or you can have the financial institution link your existing bank account. You must have a mobile phone number and an email address for correspondence with the bank.
In order to request for a loan, you need only send details of the money you need and the period you intend to repay it in through a text message. You will get a PIN number with which to verify your request. Once your request is verified, the instant text loan will be processed through the bank account. You need to look for a service that will be flexible enough when you are unable to meet their set repayment deadline. Find out how much the charge when you ask for an extension on your loan. You can visit a few of the banks and get this information or go to independent review sites for reviews by other customers. Instant text loans are your answer to emergency situations.