Timeline for Why would a loan company deposit a small amount into my account and require I send it back?
Current License: CC BY-SA 4.0
26 events
| when toggle format | what | by | license | comment | |
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| Jul 27 at 9:31 | comment | added | mastov | @user26460 Unlikely. First of all, sending it back would not be necessary for account verification. Second, that's not the explanation they give. They say it is to "verify if you are honest about repaying". That doesn't make any sense at all. | |
| Dec 8, 2022 at 3:01 | history | tweeted | twitter.com/StackFinance/status/1600686989115887616 | ||
| Dec 6, 2022 at 3:48 | comment | added | Christine Tibig Vickers | "It is a common practice for loan companies to deposit a small amount of money into your account to verify if you are honest about repaying. The company deposits the money and then withdraws it again after a certain period of time. This process is called ‘testing’, and it is used by credit card companies too. They deposit some money into your account, and then take it back again after a certain period of time. This way they can check if you are using the card responsibly or not. | |
| Dec 3, 2022 at 23:24 | answer | added | gnasher729 | timeline score: 0 | |
| Dec 3, 2022 at 19:41 | comment | added | TLW | I strongly suggest talking to your bank for advice about this, and see what they say. | |
| Dec 2, 2022 at 23:40 | answer | added | Harper - Reinstate Monica | timeline score: 3 | |
| Dec 2, 2022 at 14:14 | answer | added | CharonX | timeline score: 3 | |
| Dec 2, 2022 at 10:56 | answer | added | WoJ | timeline score: 7 | |
| Dec 2, 2022 at 10:49 | comment | added | CGCampbell | I believe that more information is needed in this case, like the name of the company and/or the fine print of the contract or at least their website. | |
| Dec 2, 2022 at 6:52 | comment | added | Ellie K | @26460 Good point, and no, we are not sure. OP needs to clarify that point otherwise this question should be closed due to lack of clarity. | |
| Dec 2, 2022 at 6:51 | history | edited | Ellie K |
Content of question doesn't mention scam
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| S Dec 2, 2022 at 6:49 | history | suggested | Paul D. Waite | CC BY-SA 4.0 |
Made title describe question; made question more readable
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| Dec 2, 2022 at 2:11 | comment | added | Nelson | Keep saying you didn't get it and see if they'll deposit more. | |
| Dec 1, 2022 at 21:25 | comment | added | user26460 | Are we sure this isn't the like the two deposits under a dollar thing to verify the account? | |
| Dec 1, 2022 at 19:13 | answer | added | Mohair | timeline score: 12 | |
| Dec 1, 2022 at 15:06 | review | Suggested edits | |||
| S Dec 2, 2022 at 6:49 | |||||
| Dec 1, 2022 at 14:42 | comment | added | R.. GitHub STOP HELPING ICE | Whenever anyone proposes to deposit money in your account and proposes that you do something to return it, it is always a scam. | |
| Dec 1, 2022 at 14:09 | answer | added | André LFS Bacci | timeline score: 29 | |
| Dec 1, 2022 at 13:49 | comment | added | mmmmmm | WHich country are you in - the comments here don't agree with the first answer and its comments so looks like the answers will differ. (My guess is the answer is US based) | |
| Dec 1, 2022 at 13:38 | comment | added | mmathis | How did you find this loan company? Are they well-known? | |
| Dec 1, 2022 at 11:29 | comment | added | Criggie | Tell them to subtract the initial deposit from the remainder, and see how many different excuses they come up with. | |
| Dec 1, 2022 at 10:01 | history | became hot network question | |||
| Dec 1, 2022 at 2:26 | review | Close votes | |||
| Dec 2, 2022 at 16:58 | |||||
| Dec 1, 2022 at 2:05 | answer | added | Justin Cave | timeline score: 113 | |
| S Dec 1, 2022 at 1:56 | review | First questions | |||
| Dec 1, 2022 at 2:23 | |||||
| S Dec 1, 2022 at 1:56 | history | asked | user120367 | CC BY-SA 4.0 |