Bank Vision
  • By inputting your details Payl8r is able to view 90 days of bank account history. This helps Payl8r make their lending decisions, assessing whether and if so what amount of credit is affordable and sustainable for you. Responsible Payl8r’s work with credit reference agencies to review your creditworthiness. As part of that process it is important for Payl8r to verify your incomings and outgoings. Ultimately, this will help Payl8r ensure that you do not fall into difficulties in making the repayments due under a loan or incurring further costs and charges. Payl8r is only permitted a read-only access to your current account, so will only ever be able to view the recent transactions on your account – nothing more. Your bank details are encrypted in transit and stored securely by Yodlee. Payl8r does not have the ability to view or change any of your banking details, set up standing orders/direct debits or to manage your account in any other way.

  • No person can access your internet banking details. When you enter your banking credentials on Payl8r’s site they are immediately encrypted. The encrypted details are then passed by Perfect Data Solutions Limited to Yodlee. They are stored in a highly secure, single use data centre and are then used to generate a read-only data-feed which Payl8r will use to assess the affordability of the loan.

  • As an organisation, security of data and prevention of fraud are fundamental to us. We are committed to using practices to ensure that our services are provided within a secure environment. Your internet banking details are encrypted and held securely by Payl8r’s professional service providers and are encrypted. Perfect Data Solutions Limited, Yodlee and Payl8r, are permitted read-only access to your current account, so will only ever be able to view your account.Neither Payl8r, Perfect Data Solutions Limited orYodlee have the ability to change any of your banking details or set up standing orders/direct debits. All data is securely handled in accordance with data protection laws and ours and Payl8r’s privacy policy.

  • They will be used by Payl8r to make lending decisions about you and stored by Payl8r as long as necessary to assist Payl8r in managing your account or underwriting a loan to you. It will be stored by Perfect Data Solutions Limited and Yodlee.

  • Payl8r and PDS would recommend that you review the Terms and Conditions of your internet banking provider. Before you decide to submit your banking credentials, Payl8r and PDS would stress that security is of paramount importance, Payl8r and PDS would especially mention that:

    • Your data is encrypted in transit

    • Payl8r does not have any functionality over your bank account; and

    • Payl8r will only have access to a read only service.

  • Yes, you may provide Payl8r with a paper copy, or PDF of your bank statements. This will take longer for Payl8r to receive, so Payl8r cannot process your loan as quickly. You will also need to provide Payl8r with updated bank statements next time you apply for a loan.

  • If you have any questions or concerns please call or email Payl8r for further information.