Good morning comrades and our Nairaland Queens. I got a hot quick loan from EasyBuy last month because of the issue I had with my UBA bank account which made it impossible for me to make withdrawals or do transfers.

First of all, I do not like the Idea of getting loans from any of the loan apps, but I had to come through for my in-law who needed a phone 3 years ago. He used my details because he was over the age limit but he paid back in full even before the due date, so they kept sending me messages to get a loan from them because they considered me to be credit worthy. I never thought about considering their offer until I needed cash so urgently but couldn't access my UBA Bank account. I got the loan from them with the intentions to pay back within three terms.

Alas! I woke up this morning, checked my Zenith Bank mobile app and discovered that they already took the money I was supposed to pay for the first month without needing my consent to initiate the payment.

PS: I submitted my Zenith Bank debit card as means of payment. But I'm still surprised and sad that they can actually debit my account without my knowledge. I never knew these loan apps can have unrestricted access to ones bank account to the extent of paying themselves without the consent of their customer.

Please, anyone here with a solution on what to do to stop or end their unrestricted access to my bank account? I am anticipating your ideas and solutions.

Thanks!

Go and get new ATM card

Depends on what you mean by "without your approval or consent". The loan company having a lien on your Zenith account which you intend to use to payback the loan to the loan company must have been a major term which was in the terms and condition which you tick good and accepted and of which without accepting that term you wouldn't be able to get the loan in the first place.

No offence, most Nigerians generally are not reader that if that was the only terms in the terms and condition they would be too lazy to read it and in other situations the terms and conditions could be very lengthy say 8 pages (to 25 pages) and one who is badly in need of money wouldn't bother reading the terms than click on the box marking you accept such term.

My Opinion:
Without bias, what the loan company did is what a prudent man of business would do. Especially in this dispensation when a man's word is no longer is bond. Also you must have accepted the loan company having a lien on your Zenith account by giving them your consent to do so but regardless you did so without knowing. Whether, you gave consent knowingly or unknowingly is immaterial in this instance as ignorance of law is no excuse.

Even if you change your bank ATM pin, the loan company would still get automatic payment for so long as you have consented that the loan company should have a lien on the account you have represented to the loan company to pay from.


Some Other Exception to the Above:
If you consented in the terms and conditions that the loan company can defame you should you default. If eventually you default and the loan company defame you, you MAY be entitled to damages. I say "MAY" because truth is a defence to a charge of defamation but if the defamation isn't true coupled with malicious intent then the borrower would be entitled to damages.

Just Curious:
Why are you reluctant and unhappy with the withdrawals been that you admitted to pay back the loan from your Zenith Bank which the sum has successfully either partly or wholly be deducted from?

Also why are we generally reluctant to repay back loan(s)?

I'm not saying this loan companies are 100% clean sometimes actually most times they could be overbearing and also I'm not trying to ridicule you but give to Ceaser when belong to Ceaser

YES.

Once you have your debit card registered in the app. But you can go request a new debit card so as not to be liquidated by them as I know say you won run with their money and not just that, those guys can debit more than you owe when you delay to pay.