Take out a loan by phone

Digital and new technologies are priorities for consumers’ lives and it is currently possible to take out a loan remotely.

Know that, before joining, you have the right to be informed, in time, on paper or in another durable manner, of the identification of the institution that will lend you the money, the services to be hired and the terms of the contract.
In the case of a distance contract, the consumer also benefits from a period of reflection, having the right of free termination, that is, up to 14 days after the conclusion of the contract.

Consumers don’t need to provide justification and will not be penalised unless you have already received the loan. In this case, you will have 30 days to return the money, incurring interest until its reimbursement and eventually pay the stamp tax, if already paid by the financing entity.

To exercise this right, the consumer must send, to the loan institution, a registered mail with acknowledgment of receipt and keep the proof.

Borrowing money from strangers?

If you’re in need and you don’t have anyone you can trust to turn to and the bank doesn’t make it easy, avoid adverts that promise money “on the fly”, as you could be getting into trouble!

Sometimes, a lack of money leads consumers to expose themselves to “traps” that endanger their financial situation or their properties.

Some of the requirements to get this type of loan are the guarantee of the property or even its sale to strangers, or cheques, which, despite being post-dated, can be withdrawn any time, or also issuing a debt statement as ‘proof of business’. As a rule, the main goal is to make an easy profit.

Avoid these traps that promise cash on the spot that will charge you very high interests. They can even push you into a debt spiral(s) from which you will find it very difficult to get out of risking your property.

What can you do if you are a victim of online fraud?

If you have been a victim of a scam, you must take action as soon as possible. If there has been a fraud or the misappropriation of accesses numbers to home banking and / or a bank card, the first step that the consumer must take is to contact the bank.

You must call the contacts indicated in the respective contract or on the monthly account statements, also from the list of card issuers on the Banco de Portugal (BdP) website.

You must request to cancel your home banking and/or card access numbers, indicating your account and/or card number.

Then, the fraud must be reported to the police authorities (PSP, GNR or PJ).

If unauthorised transactions or operations have been carried out, be aware that you might have to pay a maximum value of €50.

It is important to alert the consumer to the obligation to comply with all safety rules online and in the use of the card as well, always acting responsibly, otherwise consumers will be held responsible for the transactions carried out.

Check the list of BdP card issuers here: https://www.bportugal.pt/sites/default/files/anexos/documentos-relatados/contactosdosesmissorescartoes.pdf

Don’t be the next victim of bank card fraud!

The use of a debit card, ATM card and credit card are very noemal, but are their owners aware of the dangers they may face?

Many consumers are victims of money-making “schemes”, through the misappropriation of personal data associated with cards to later use them, for example, to withdraw money or make purchases.

How to prevent card fraud?

  1. Do not provide your personal details and bank card passwords;
  2. Be discreet at automatic payment terminals;
  3. When making purchases, always confirm the selection value;
  4. Beware of unreliable sites that ask for bank details in exchange for discount coupons or rewards!
  5. Don’t push your luck, get informed and prevent fraud!

Pre-approved credit in 24 hours! Can I trust this?

Easy credit can be expensive!

The consumer must first assess which entities are involved in this operation and under what conditions they work.

Consult Banco de Portugal and confirm whether this financial institution is correctly authorised to grant credits or acts as an intermediary.

Analyse, in advance, all associated costs and clarify any doubts you have.

Social Media

One of the most used schemes on social media seeks to get consumer data with the promise of pre-approved credit, requesting the transfer of an amount between €100 and €200 to complete the process. In the end, the consumer is harmed and the credit is refused.

Count on our support:
Tel: 289 863 103
Email: deco.algarve@deco.pt
It is also possible to schedule Skype appointments
Follow DECO Algarve on social media:

www.facebook.com/AssociacaoDECO
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https://www.instagram.com/decoassociacao/
https://www.linkedin.com/company/decoassociacao/

Author

Paula Martins is a fully qualified journalist, who finds writing a means of self-expression. She studied Journalism and Communication at University of Coimbra and recently Law in the Algarve. Press card: 8252

Paula Martins