Lend money online?

Hi

If i lend money to a totally stranger online, what kind of percaution & information are needed to ensure that i can actually get the money back?

Hope its not too silly...Thank you.

Heh... if they're a total stranger, you'll never know enough to lend them money and expect to get it back. As for information, maybe a drivers license number? No way of easily knowing if it's valid or actually them or not, though...

Well, since you're into loaning money to total strangers. I have a test program that I want to get funded. I need about $10,000 with no guarantees on the return. Heh, man, I would reconsider if I were you, honestly.

You can never stop 100% of the people set on committing fraud, but you can make it very difficult to get away with.

For starters, you could do something like Paypal does. With Paypal you have to have a real bank account. They send you two tiny deposits and you have to get the amounts and plug them back into the Paypal site. This is a pretty good verification that someone is who they say they are. There are still ways a devious thief could circumvent this precaution, but it will stop most.

Other things you could do would be to hold one or more of the borrower's titles (home, car, etc.) as collateral, or get a co-signor.

If you want to be a bank you have to think like a bank.

wdn2k

If I add a credit card verification, like Ebay or Yahoo! Auction would it be more secure? By the way, what kinds of information would be taken down during such verification? If I would like to have the "ability" to perform deposit and withdraw for my customer, what kind of account I need? Is there any fees I need to take note for each processing?

hello world

hello moron.