Haide is an entity that conducts financial activities adequate to the operations of banks, but in accordance with other regulations than what is provided by the Banking Law.
What are Haide Loan ?
Haide Loan , therefore, conduct very similar activities as traditional banks, but are not covered by restrictive legal regulations, financial supervision and deposit guarantees. So we can distinguish two banking systems – the main will include banks, commercial banks and cooperative subject to special adjustment om legal and – so-called “shadow banking” or Haidei providing services similar to banks, but are not subject to such strict legal regulations, which are imposed by law on banks. However, it is worth noting that non-bank loans are treated as consumer credit. Therefore, it is subject to the Anti-usury Act, the amendment of which introduced restrictions in terms of both costs and the way loan companies operate. You should also be aware that there is no definition of Haide Loan in Polish law.
Haide Loan are institutions providing services similar to banks, but not subject to such restrictive legal regulations as are imposed by law on banks.
Attempts to specify the concept of a Haide institution appear in various studies, and they have already entered into everyday use for good and also include insurance companies, non-bank payment card issuers, or companies offering installment loans or short-term loans. payday loans . Thus, the concept of a Haide cannot be found in the provisions of legal acts or in the Polish Classification of Activities or in the terminology used in reporting by the National Bank of Poland.
Banks and Haide Loan – differences
Let’s look at the basic differences between traditional banks and discussed Haide Loan . When comparing the ability of banks and Haide Loan to perform activities, one should know that many of them are not mutually exclusive. Before proceeding to the comparison, it is worth noting that some of the activities listed under the term “Haide Loan ” were designated based on the activities of loan companies. Others characterize the functioning of all Haide Loan .
- activities supervised by the Banking Law
- checked by the Polish Financial Supervision Authority
- the Bank Guarantee Fund protects customers who have transferred money in a deposit
- The Bank Guarantee Fund ensures a refund in a situation when the bank is insolvent
- accept and execute a cash transaction for an additional fee or within a specified period in accordance with Elixir sessions
- keep bank accounts
- they grant loans
- issue bank securities
- provide guarantees and confirm and open letters of credit
- carry out bank monetary settlements
- each institution granting credit products must be authorized to operate by the Polish Financial Supervision Authority
- The Polish Financial Supervision Authority also maintains a list of public warnings against inappropriate institutions that raise doubts
- institutions granting credit products operate on the basis of the Consumer Credit Act (Journal of Laws 2011 No. 126 item 715)
- they cannot take deposits
- they grant loans
- they do not grant high loans – consumer credit, which also includes non-bank loans, assumes a maximum limit of financial support of PLN 255 550. It is worth noting, however, that in fact the loan companies available in our database offer their clients no more than PLN 30,000.
- they can carry out check operations and timely financial operations
- provide payment services
- provide electronic payment services
- may purchase and dispose of financial claims
- store items and securities and provide safe deposit boxes
- they buy and sell foreign exchange values
- grant sureties
- they mediate in making money transfers and settlements in foreign exchange trading.
As you can see, there are many similarities in the operation of banks and Haide Loan . It is also worth adding that, for example, banks can perform many other activities that, by definition, are not strictly related to their business, e.g. financial consulting, services certified by electronic signature, and trading in securities or the purchase of shares.
Not so terrible Haide Loan as they are painted
It is worth realizing that most online lending companies are Haide Loan . They mainly deal in providing short-term loans, so-called Momentary books, as well as installment loans, longer-term ie white repayment.
Some companies enjoy greater customer trust, others less – these are the laws of the market. Many people have a negative attitude towards Haide Loan because of the lack of a sense of security that they think is not provided by non-bank institutions. However, it should be remembered that by using various services of this type of companies , we secure ourselves with an agreement that should clearly define our rights and obligations.
The argument that lending companies only really want to earn and get as much money as possible from the client is unsuccessful, because it is enough to analyze the loan offers of traditional banks and compare them with entities from the non-banking sector. The cost of the loan granted many times will be more favorable for non-bank companies.
Below is a list of installment loans offered by companies with an established position on the Polish market. These loan companies have extensive experience in the financial sector and enjoy the trust of customers. It is worth checking the opinions on a given lender in the section “Opinions on loans” .
What to look for in a loan agreement with a Haide?
First of all, we must be aware that when using Haide services, it is necessary to draw up an appropriate document, called a loan agreement. For every letter we sign, it is our responsibility to read it. It is also worth reminding that if we submit an application to a loan company, then we should also have access to the document template that we will sign. Each contract must contain details of each party. When it comes to the lender, the following should be taken into account: full company name, tax identification number, KRS, REGON and address. Another element necessary to consider the agreement as appropriate is to precisely specify the type of loan and any collateral (in most companies it will not be required).
Let us remember that in the case of loan companies, non-interest costs may not exceed: 25% of the amount borrowed and 30% of this amount on an annual basis. Please note whether the consequences of late payment obligations have been included in the contract and whether they are lawful. Maximum interest for delay pursuant to art. 481 § 2 of the Civil Code may amount to twice the reference value of the NBP rate and 5.5 percentage points.
Please note whether the loan amount is included in the contract and whether it is the same as the one included in the application. Let’s not forget about the need to enter the APRC into the contract, i.e. the total cost of the loan expressed as a percentage. Next, let’s see if all fees are correctly included and their amounts agree. I’m talking about:
- fixed or variable interest rate, any situations when its amount may change,
- commission and its payment form,
- preparation fee,
- possible insurance.
If you decide on an installment loan, you must consider their amount and form of payment. It is worth mentioning that usually a repayment schedule will also be attached. Let’s not forget about your rights, which is guaranteed by the Consumer Credit Act, i.e. the possibility of withdrawing from the loan agreement within two weeks. We must also remember that the document must be marked with the date of conclusion of the contract and execution of the order. The document should also explain the situations in which changes may be made to the entries.