You will find claims that bank-offered deposits advance items carry the exact same customer dangers as conventional payday advances.

Aside from the distinctions involving the services and products we now have formerly noted, you can expect the next observations as a result a number of among these particular accusations.

  • Seniors constitute a disproportionate quantity of deposit advance borrowers.

Deposit advance products don’t have a disparate affect seniors. In reality, CBA has discovered that seniors constitute a percentage that is small of making use of the item. Furthermore, seniors that utilize the item, usually make use of it less often than more youthful users.

CBA users show deposit advance utilize by seniors to average within the array of 15%. This quantity isn’t any more than for almost any other bank-offered solution or item. Read more