The costly error of uploading incorrect IDs on your loan application

One of the most common mistakes borrowers make when applying for a loan is uploading the wrong identity documents, unintentionally or intentionally.

Your ID is more than a formality; it’s an important part of your financial profile. Ensuring that your ID documents are exact and up to date in your loan applications can help you prevent trouble that may arise in your loan approval process.

Before we get to the implications of incorrect ID uploads, we’d like to share a few helpful ID-upload tips for all our Irorun Rockstars (new and prospective).

When you’re considering getting a loan from Irorun, one important thing to know is that we need you to give us an official, accepted and up-to-date means of identification, like your national ID, driver’s license, or passport.

There’s no bargaining or talking your way out of it. It’s like having to show your ID to open a bank account; we need to know you are who you claim to be. Your ID is like your ticket to the loan, and you’ve got to have it ready when you apply. No negotiations allowed.

Before diving into lending with us at Irorun, you should know what you can use to prove your identity when applying for a loan. We know that different organizations have various means of identification that they accept, and the same applies to us, too.

We acknowledge these as the only acceptable means of identification: National Identity Card (NIN), Voter’s card, Driver’s license, NIN slip, and International passport. Any other form of identification will be deemed invalid and rejected during the loan application process.

Despite the clear guidelines provided to our dear customers, some persons ‘unintentionally’ upload IDs that we don’t accept at Irorun. While work IDs and National Youth Service Corps IDs serve as a valid means of identification to other organizations, they are not valid at Irorun.

Submission of these documents will not be accepted, and loan applications will promptly be rejected.

Uploading the wrong identification documents can lead to various complications and cause delays in your loan processing. Some of these include:

The verification procedure may be affected if the information on your identification documents is wrong. This might cause annoying delays in getting your loan approved, increasing the stress for you and the lender.

Your loan application may be declined when you provide an ID that the digital lender doesn’t acknowledge. This means you may not receive the necessary financial assistance you seek and may also incur additional financial issues.

Identification documents with inaccuracies are more likely to be rejected. This denial means you’ll have to resubmit the right ID, which can prolong the loan application process. So a quick once-over of your personal information before submission is important when transacting with digital lenders. Afterall, these these lenders receive a high influx of other applicants daily.

It doesn’t take a lot to carefully verify and ensure that you are uploading one of our accepted forms of ID. This prevents unnecessary time wastage while also shortening the loan application review process. Win-win for all of us involved!

As a security measure, remember to stay vigilant when exchanging personal information with digital lenders. Read more on what to keep in mind when providing personal information to a digital lender****.

Shoot us a quick message at support@irorun.com and let’s get you started on that loan application!