I am a lender on Prosper and I kept hearing about Lending Club so I decided to try that out too.
Lender Sign up is Easy
It was easy enough to join as a lender until I saw what they did to verify the account. Normally, when you have to verify an account online the place you are trying to verify sends a small deposit to your account.
Not Lending Club!!!
They actually withdrew a small amount from my account.
What?
This amount was then kept in my balance as part of the funds I would have available to lend in the future.
I thought this would be another way that I could possibly make money online once I got the system (and the money) down.
Borrower Sign up is Not So Easy
I then thought that I could also help myself to save some money by applying for a loan here so I clicked on the borrowing tab.
STOP.
Lending Club wants me to register again with a DIFFERENT email address (and user name) to become a borrower. Talk about confusing.
I finally got it set up and I just have to go home to check my email to get the activation link since I cannot access my email at work.
I am looking for alternative sources of income that will help with the bills especially since I got LASIK and I have this upcoming surgery at the end of February.
I couldn’t agree with you more.. I’ve made a loan couple of years ago.. How difficult it is, to be a borrower. Verification is rigourous and most of the time it can be unpredictable.
Colin Joss
East Lothian, Haddington, United Kingdom
I guess they make it difficult to try to scare away people who are trying to scam the system.
I thought the same thing when I tried to sign up. Withdraw money to verify my account? I stopped right there. Let us know how that works out. If it seems beneficial, I’ll suck up and do it.
Well LB the loan has now been fully funded and they are just verifying my info so that the funds can be released.
If all goes well I should have the money by the end of this week.
Use my referral to sign up pretty please!!!!! 🙂