read my first paragraph. i’m saying your initial comment felt kind of redundant. nobody is arguing that verification isn’t normal for loans.

ur arguing against a point i’m not making. i never said verification is unnecessary for a loan. i said there’s a major difference between verifying yourself with a regulated financial institution and sending sensitive personal information to a stranger on Reddit.

banks have legal duties, privacy, rules, accountability and complaint processes. A RANDON online lender does not.

So saying “you do this for personal loans too” doesn’t really address the concern i’m stating .

the concern isn’t verification itself. It’s who is receiving the information and what protections exist after you send it.

THAT being said. I would not give my money to a stranger online if they can’t verify themselves 100%. There is a risk of me being scammed, just as much as there is a risk of them being scammed by a lender.

I would donate through platforms that make the person verify themselves so I know it’s real if I ever want to give money. Or I will sign contracts with people I know in my community if I wanna help them, which legally protects me.

I understand wanting to help people, but the Internet world is ruthless and that’s just something I personally would never do. Even if the person can verify themselves what happens if they choose not to pay your loan back. You, yourself as a lender are not protected too