Frequently Asked Questions

Most of the common questions we get are listed below. If you have a question you can't find the answer for feel free to click on the "let's chat" icon below and we will do our best to get back to you as soon as possible.

Frequently asked questions

Does Benefi check my credit score?

Benefi will check your credit score, however, unlike other lenders, we perform a “soft credit check”. Soft checks do not impact your credit score.

Why are companies offering Benefi as a group benefit?

Many great employers understand that financial worries can be a distraction at work, and many employees suffer from a lack of financial inclusion. Benefi helps level the playing field in access to affordable loans.

What happens if I leave my company before my loan is paid off?

In the scenario where we are unable to process repayment from your salary, you are able to repay directly from your bank account. In this scenario, we charge a $20 administration fee. One way to avoid this is to repay your loan in full before you leave your company.

What about my data? Who gets to see it?

If you apply for a loan, we may need to share some information with a credit scoring agency, a lender, and with your employer. In your employer’s case, it is generally the HR/payroll department that will have access to your information. We regard your data as highly confidential and treat it as such.

How much will my employer know about my loan?

When applying for a loan, we will confirm your employment and contact information with your employer, this is generally done with your employer’s HR department or payroll department. If a loan is accepted, the payroll administrator will be informed how much to deduct from your salary (as the payment) and how many deductions to make. You can see all the details in our privacy policy.