Frequently Asked
Questions

Getting a loan with Irorun is as easy as ABC if you take the following simple steps:

1. Download the app or sign up on the web app
2. Provide your next of kin
3. Update your address
4. Add your government-issued ID
5. Add a debit card
6. Apply for the loan

As a general note

1. Don't request more than you are capable of repaying
2. Don't lie on your application; you would be found out, barred and may be reported for fraud

If your loan got declined, it may be one of these reasons. If you think this was wrongly done, you can engage with the Customer Support team right on this chat.

Our loan decision process usually takes about 24 hours [or longer during weekends] before updating your loan status.

If your loan status has been pending for more than 24 [or 72 hours] hours please reach out to us on the app or at support@irorun.com to look into it.

Kindly exercise patience as we review your loan application.

On Irorun you are only allowed to have one active loan at a time. If you would like to get another loan you must repay your current loan first. Applying for another loan immediately after you've just repaid your loan might cause the system to find you ineligible as our system can take up to 24 hours to process and resolve your repayment.

If after 24 hours you are still ineligible for a loan please reach out to us on the app or at support@irorun.com to look into it.

For you to have access to higher loan amounts you must show evidence that you will be able to repay the loan by applying for a lower loan amount and repaying it. For example if you pay back your first two loans, you would be able to get ₦10,000 with a longer time to pay back.

And it doesn't take that long to have us trust you with even much more. If you need further assistance, please email support@irorun.com. If after 24 hours you are still ineligible for a loan please reach out to us on the app or at to look into it.

Here are the 5 most common reasons for why loans get declined;

1. You've delayed in paying back previous loans

   
   Not paying back your previous loans, even with other lenders, on time affects your ability to get new loans with Irorun. We encourage you to be prompt with loan repayments or contact support if you are experiencing difficulty paying back before the due date.

2. Poor selfie image

   
   Your selfie must be good quality in a well lit room. Our algorithms can detect when you didn't take a selfie and have taken a snap of another picture.

3. Invalid ID card

   
   Irorun requires a valid ID which must have been issued by a government such as an international passport, drivers license, Voter's card, National ID card and NIN slip. We don't accept company ID cards, association ID cards, etc.

4. Bank card issues

   
   You will be repaying your loan using your debit card so ensure this is a card that works. Additionally, your card must be valid beyond the date when you want to make your last loan repayment. Furthermore, we only accept Mastercard and Visa debit cards; Verve cards are not acceptable.

5. Mismatch in BVN and Selfie image

   
   We AI compares your selfie images to your BVN image and also the images on all the ID documents you have provided. Kindly follow the guidelines for uploading your selfie image to improve the chances of your loan getting approved.

After the transaction, we typically advise a 24-hour gap after a loan has been repaid before re-applying. Applying immediately might cause the system to find you ineligible as our system can take up to 24 hours to process and resolve your repayment.

If after 24 hours your loan has not been processed as settled kindly contactsupport@irorun.com with the following details in the email;

• A detailed description of what happened.
• A screenshot of the error message displayed to you.
• Your device type and model for example Samsung A3 or iPhone 6.

Once you have sent the email our customer support team will reach out to you and help you resolve the issue.

Kindly note that you can make payments on or before your due date and that is completely fine.

This can be done by simply funding your wallet either with your ATM card or electronic bank transfer to your virtual account.

Your unpaid loans start attracting penalty charges 3 days after the loan is due for repayment. The amount charged as penalty depends on the loan amount and the rate for your specific loan.

If you need assistance in paying your loan as of when due, please contact the support team at support@irorun.com.

Kindly be informed that our loan decision process usually takes about 24 hours [or longer during weekends] before updating your loan status.

Please let us know if your loan status has been pending for more than 24 [or 72 hours] hours to look into it.

Kindly exercise patience as we review your loan application.

• Open your app
• Click on the wallet balance label
• Click on Withdraw/Transfer
• Input the amount you want to withdraw
• Click Continue
• Select a bank and click Transfer
• Input your PIN or fingerprint.
• Follow the next steps as displayed on your dashboard.

Your debit card is primarily used to be the repayment method for your loan. Consequently when adding your card, we need to ensure that the card works; therefore we take a charge of N50 on your card.

Not to be dismayed, your N50 is immediately deposited into your wallet and can be transferred to your bank account along with your loan.

Irorun only accepts cards that can be charged after they are authorized. At this time, we only accept Mastercard and Visa debit cards.

As a general rule, we only accept cards issued within the country where you are taking a loan from and the card must be tied to your bank account.

We currently don't support Verve cards, any form of prepaid or credit cards. We also don't accept Amex or Discover cards.

Unfortunately, at this time every loan request must be tied to a working Mastercard or Visa debit card.

Sometimes in the future, we plan to accept only direct debit. Also, when Open Banking is finally launched in Nigeria, you may be able to use your bank account to make payments directly. But until then, we only accept Mastercard and Visa debit cards,

Every borrower must use their own debit cards, tied to the bank account to which they loan would be disbursed to.

If however you have a loan and would like a family or friend to help pay back, you are able to:

• Share your payment link with them and they can help you repay your loan from there
• Share your virtual bank account number and they can transfer the amount they want to help you with there

It's possible that your BVN was registered long ago and the phone number is forgotten or totally incorrect.

Your best option may be to visit your bank branch where the officers there would be able to verify your identity and provide your BVN to you.

If you can't remember your BVN, worry not. There are 3 ways to get your BVN back

Option #1 Dial *565# on your phone
You can easily retrieve your BVN when you dial *565# on your phone. However, this phone must be the one tied to your BVN. The service costs N20 and only works while you are in Nigeria.

Option #2 Check your internet banking or mobile
For some select banks, you are able to see your BVN within your bank app. However, not very bank supports this and you may also not have internet or mobile banking.

Option #3 Visit your bank branch
Your last resort may be to visit your bank branch where the officers there would be able to verify your identity and provide your BVN to you.

• A detailed description of what happened.
• A screenshot of the error message displayed to you.
• Your device type and model for example Samsung A3 or iPhone 6.

Someone from the Irorun support team will reach out to you and help you resolve the issue.

• Document size is less than 2mb in size
• Either of PDF, JPEG, or PNG

If however, you still experience issues despite meeting the criteria above, kindly email support@irorun.com.

Deleting your account is very simple. Simply log into the app, go to Settings, and click the delete button.

However, your account cannot be deleted if you have an outstanding loan to be paid, have balance in your wallet, or you are subject to investigation regarding fraud, etc.

To know more about this, please email support@irorun.com.