How to spot loan scams

The most common loan scams in South Africa (upfront fees, fake lenders, card-holding) and how to check a lender is legitimate.

• Legitimate lenders never ask for an upfront fee before paying out.
• Always check the NCRCP registration number.
• Never share your PIN, OTPs or banking login.

Common scams

• Advance-fee scams: you're 'approved' but must pay an insurance, admin or legal fee first.
• Fake lender websites and social media pages copying real company names.
• WhatsApp or SMS offers asking for your ID copy and banking details.
• Loan sharks who keep your bank card or ID as security.

How to check a lender

Look up the NCR registration number on the NCR website, make sure the company name matches, and call the number listed there rather than the one in the message. Read the pre-agreement quote before signing anything.

If you've been scammed

Contact your bank immediately to stop payments, open a case with SAPS and report the lender to the NCR. Warn others by reporting fake pages on the platform where you found them.

Is QuickEasyLoans a lender?

No. We are a free comparison and referral service. We never ask for upfront fees, and any credit agreement is between you and an NCR-registered partner lender.