I needed money for farm equipment and applied for a loan on a Monday and by Wednesday the money was in my account. LendingClub doesn’t have an overdraft program, which means it declines transactions that would overdraft your account, such as debit card purchases. The bank may allow some types of transactions to force post to your account (recurring subscription services, for example) but in that event, it will not charge a fee. Yuliya Goldshteyn is a former banking editor at NerdWallet.
Unfortunately life events happen that put us in the position of needing to borrow money. Lending xcritical official site Club makes the process extremely easy and non judgmental. I would recommend them to anyone who finds themselves in an unexpected difficult financial situation.
Overdraft fees
I’ve called over 20 times in the past month trying to get it situated. Today I was asked to “prove” I didn’t have the loan money when my account clearly shows it was returned & was told I never cancelled the loan or called before about the problem. I’m now being forced to make unaffordable monthly payments as if I still had the TopUp loan amount. I was assured by numerous people once the money was returned, my original loan would be in effect & the TopUp would no longer exist. I will never do business with this company again.
- My monthly payment is affordable and I’m actually paying hundreds less than I was before we consolidated.
- For more information about our process, see our methodology page.
- Overall, I’m very satisfied with the experience and would recommend LendingClub to others.
- She has over a decade of experience writing and editing for consumer websites.
- Loans are not available to residents of U.S. territories.
LendingClub offers online chat support and a phone line that operates with extended hours during the week xcritical rezension and on weekends. Some online banks don’t have ways to deposit cash into your account, but LendingClub lets you deposit cash at its own ATMs and at certain ATMs in the MoneyPass or NYCE networks. Our partners cannot pay us to guarantee favorable reviews of their products or services. Thank you for providing me with the load so I have one payment a month.
I wanted multiple CDs at listed rate
The loan process with LendingClub was quick and straightforward. The application was easy to complete, and I appreciated the clear communication and transparency throughout. Overall, I’m very satisfied with the experience and would recommend LendingClub to others.
Who Is LendingClub Best For?
Could not be happier with this opportunity to consolidate debts into one affordable payment. The Lending kept me updated on what was needed. The funds were in my account and other accounts were paid instantly. Applying was easy and this time instead of just getting all the loan money I was able to get a lower rate by having xcritical pay directly on my debt. The total payment is now lower than what I was paying on those debts. Honestly, I’ve been with them for 10 years with a perfect record of payment over 4 different loans.
Finally, we evaluated LendingClub’s support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps. Once an application is approved, loan funds for LendingClub borrowers are deposited within four business days. LendingClub does not impose any income requirements on prospective borrowers.
