Clear Account Review

Posted April 23, 2014 by in Finance

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Easy To Follow
 
 
 
 
 


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5/ 5

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Clear Account Review- Protection against Overdraft Charges eople are finding it hard to handle their accounts that it comes to the point when these became overdrawn. Several professionals have got together to put up a credit facility that will answer these needs and the result is Clearaccount with its SafetyNet features. This credit facility’s prime […]

by ixivixi
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Clear Account Review- Protection against Overdraft Charges

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eople are finding it hard to handle their accounts that it comes to the point when these became overdrawn. Several professionals have got together to put up a credit facility that will answer these needs and the result is Clearaccount with its SafetyNet features. This credit facility’s prime objective is to protect people from overdraft charges. The dynamic team responsible for this upholds a set of beliefs that protects people from being subjected to bad credit ratings through responsible money management.

This credit facility’s prime objective is to protect people from overdraft charges

Their main thrust is to borrow only the amount that the person can pay based on the deposit that he makes. This serves as a training ground for people who are at lost in handling their budget. Clear Account reviews online reflects the way they have won the heart’s of the public when it comes to transparent dealings with them. Their concept is great and it does benefit those who have been approved. This company will even teach their customer on how to plan their much needed loans in order to avoid paying a large amount of interest through the use of some techniques.

How Does it works?

How Does Clear Account Work?

It all starts with the application process where individuals who qualify will be allowed to borrow a certain amount of money based on the amount that they deposited. They need to pay £1 for every £100 that they borrow per day. This might look like higher interest rates that are for those who are late with their repayment. However Clear Account does not charge people with hidden charges. This is how transparent this company is.

An application is required which will be approved or denied. The denial process is due to the behavior of the applicant with regards to payment history and payment default. This is conditional since if the company will notice positive changes in the applicant’s credit history they will approve the application.

Getting the online banking details from applicants is normal. These are protected through the secured, encrypted facilities that this company employs. Except that there would be no third party confidentiality breach. This company is given a read only access to the bank accounts of their customers. These customers will be issued only the available amount that they have on their account; no more, no less. Closing an account with them is easy. This can be accomplished by informing them in writing.

Once approved people are given the information on how much credit they can spend. This will be used as a basis for creditworthiness. Spending within means is the name of the game. Depending on the individual’s circumstances they could apply even up to £500. People are given two options on how to repay such as having the amount automatically deducted to their current account or that they will be responsible enough to pay this on time.

Repair Your Credit

How to Bounce Back From Bad Credits

How does a person claw out of financial disaster? The process of doing so is not easy. They have to climb out of the quicksand and create a good plan in order to see an increase in their credit scores. Those with bad credits will find it hard to apply for credit anywhere. Some will lend them money, but these come with higher interest rates compared to those given by a regular lender. Their credit ratings will not mend on its own without help from anybody. Using a loan credit such as those given by Clear Account will allow them to improve their credit scores. Contrary to what others say closing down a credit card will actually hurt the scores history.

The good news is that it is possible to see some hope at the end of this dreary scenario. Make a decision to change and stick to it. Avoid spending money on things that are not real needs. Learn to differentiate between wants and needs. Behaving badly is the cause of the negative history and ratings. Use a budget plan and stick to this. People generally remember things that they see so keeping tabs on what goes where will help them realize where they need to curb their expenses. Tracking spending can even help them save more for their future needs instead of blindly depending on loans all the time.

For those who are running a business some changes might need to be made in order to minimize the need for debt. For those who are about to open a new business it is advisable to choose a business that will not require a sizable amount of cash hence decrease the amount that they need to loan. Above all they should change the way they think. One of the things that make it hard for people to bounce back from any setback is having the wrong mindset. Seeing how far they have come from that former sad state would help them regain their self worth. Failure will only be final when the person decides to lose hope and give up. As long as he looks forward to each day with great expectation for good things to happen this shall come to pass.

Clear Account Reviews

Pros

Clear account was hailed by clear account reviews as the best alternative to payday loans. They provide first class customer service that is fast and efficient.  Clearaccount allows money to be used within 15 minutes. Some say that they offer help when it is needed. They are good with helping people regain control of their finances by empowering them through the use of dashboard tools.

They teach people how to be more responsible with their finances. The company is transparent with its dealings that it informs the person that they will have access to the bank account and other confidential information.  Their access is limited because they can only read the amount stated in there unless it is time to withdraw from this amount to fund the amount withdrawn by the person. They protect their customers by ensuring that they are using the top of the line bank security encryption.

Being registered with the Information Commissioner’s Office, this limits their access to personal data and how it is used. This company divulges the credit agreement by providing their clients a copy of their rights and obligations. They protect their customers by allowing them to partially repay what they owe so that they will only pay a small amount of interest as oppose to being totally late with their payments.

Cons

From the Clear Account reviews given one of the most common problem is connected to bank errors. For those who are in need of immediate cash a delay on the amount that they expect to see on their account makes them apprehensive. Some applicants are concerned about the safety of their confidential information and the access to their bank deposits.

Clear Account service will not allow bank transfers. No bills will be paid to another account. It automatically locks the SafetyNet facility that no amount can be withdrawn, which actually happens to those who have outstanding debts.  Clearaccount runs a credit check on each credit card holder. This is actually a part of their plan to teach people how to be responsible borrowers. Some feel that this company is just one of the scam artists out there who are actually loan sharks. This is far from the truth. A loan shark will never be transparent with his dealings.

Conclusion

Being a finalist at the Credit Today Awards 2014 means this company does a good job as it promises. Its intentions are clear; provide the best transparent service that will protect people from overdrawn charges. It is protected by Yodlee, which has been providing account viewing tools to leading banks for over 10 years now. To date Yodlee is serving more than 300 leading financial institutions from around the world. It caters to over 30 million clients.

Clear account is straightforward with how they conduct their transactions with their customers. They do not forget to remind customers that interest are added on a daily basis hence early payment or on time payment will mean less interest. This company provides a clear to understand chart and graph that will allow its customers to visually keep tabs with their spending habits. Thus they learn to become more responsible on handling such money matters. In a way they are building people up to get out of their bad ratings and experience being secure enough to graduate into the good side of the financial stratosphere for a change.