Daniel Cook

Having a loan application rejected as a result of not having a Canadian bank account is disappointing—but it is not something to lose sleep over. Many people who have had their initial loan applications rejected as a result of no bank account were eventually able to become eligible for a loan, and there’s absolutely no reason why you can’t do the same. Most probably, right now you are just one step away from getting the money you need, and we will show you how you can cross this small hurdle, get an account set up and receive your loan. You may become eligible for the loan you’ve just applied for by opening a necessary bank account where the funds can be deposited by your lender. It’s quite simple to open a bank account, and you’ll likely still be eligible even if you’re living from one paycheck to another. In case you don’t want to open a bank account, you can explore other loan options discussed in this post. There are several types of personal loans that don’t require a bank account. So, either way—with or without a bank account—you have several loan options in front of you. By learning more about them in this post, you’ll be able to make an informed decision. In this post, we will cover these topics: Why a bank account is helpful when you apply for a personal loan? What it takes to open a bank account? What other loan options are available in case you don’t have a bank account? So, let’s get started…

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