You asked, and we have the answers to the top questions our customers ask about FASTA. From application and resetting your password, to self serving your documents, bookmark this blog post so you can easily access these answers when you need them.
1. How Do I Apply Fasta?
We have 3 different credit products, and applying for any of these is self-service and done entirely online.
For ourFASTACash or FASTACardproducts, simply:
- Register your profile or log in onwww.fasta.co.za.
- Follow the easy onlineapplication process.
For our FASTACheckout product:
- Select FASTACheckout as your payment option on one of our participating retailers’ websites and follow the easy step-by-steponline application.
- On approval, we pay the retailer – you get the goods!
The application is done without leaving the retailer’s website.
For a list of our participating retailers please visit our websitewww.fasta.co.za.
2. How do I submit my proof of payment?
Please visit our websitewww.fasta.co.za,‘Login’to your profile and click on‘Go to my customer portal’.
Click‘Create New Ticket’, complete the on-screen details and don’t forget to upload your POP by selecting‘Choose File’and click‘Submit’.
Remember that once you make the payment, the payment will automatically be allocated, and you will receive confirmation from us within 48 hours. If you don’t receive confirmation of your payment from us within 72 hours, contact us via ourCustomer Support Portal.
3. How To Reset Your Password?
Resetting your password is an online, self-service process and can be done by:
- Visitingwww.fasta.co.zaand clicking on ‘Login’, then ‘Forgot Password.’
- Enter your ID number for the username and the email address you used during registration. NOTE: your email address is case sensitive
- Click ‘Send link’.
- A reset password link will be sent to the email address you entered in the above step. Open the email and click on the link in the email to reset your password.
4. How Long Does Payout Take?
While you do receive the outcome of yourloanapplication in minutes, payout is determined by when you applied for a loan:
- Immediate payout for applications done on a week day.
- Payout is processed on the next business day if your application is done on a weekend or public holiday.
Thereafter it can take up to 48 hours for the funds to reflect, depending on who you bank with.
5. What Do I Do When There’s a Technical Website Error?
In order to keep our website up to date with the latest technological advancements, it is sometimes necessary for us to implement a temporary shutdown. We apologise for the inconvenience that this may cause.
Our tech teamworks as quicklyas possible during these instances to ensure that our website is up and running again. Please use our Customer Support Portal by visitingwww.fasta.co.zaand clicking on ‘Contact Support’ to submit any further queries.
6. What is My Settlement Amount?
The settlement amount is the amount you would pay if you settled yourloanin full, today, inclusive of interest and fees. In other words, you no longer repay in monthly instalments but settle the full amount immediately.
You can view this amount and generate your Settlement Letter by logging into your account profile via thewww.fasta.co.zawebsite ‘Login’.
7. What Is My Balance Amount, FASTA Questions?
The balance on yourFASTAaccount is the amount you have borrowed from us, minus the amount you have repaid plus interest and fees.
You can view this amount by logging into your account profile via thewww.fasta.co.zawebsite.
8. How Do I Self Serve My Documents?
Our application process is 100% online and does not require you to upload any of the documents we need. With our innovative technology, we only require you to log into your internet banking so that your bank can pass the last 90 days of transactions to us. This allows us to assess if you can afford the repayments of theloan you are applyingfor.
During the application process, you will be asked to enter your internet banking details; this is how you self-serve your bank statements in order to complete yourloan application.
Other documents that you can access on your own, once you log into your profile on our website, include Paid Up Letters, Settlement Letters and Statements.
9. Wish To Find How Can I Change My Payment Date?
Unfortunately, once you have accepted theDebiCheckmandate, we are unable to change your payment date as it will be in contravention of the legal agreement between both parties.
10. Why Was My Application Declined, One Sequence?
FASTA is a responsible lender which means we won’t approve aloan application if it may cause financialstress to a customer. Factors that we consider during your application include your financial position, ability to meet any additionalloanrepayments, your monthly income and living expenses. While we aim to provide financial resource to as many South Africans as possible, we aren’t always able to accept and approve everyloan applicationwe receive.
Here are some reasons why we might decline yourloanapplication:
- You have alow credit score.
- You have insufficient income.
- You already have an openloanwith us – we only allow one loan at a time.
- Your debt-to-income ratio is too high which means you owe too much money compared to the amount you earn.
- You did not meet our minimum requirements such as being employed for three consecutive months, or you have aFASTA loanthat is in arrears.
If you recently applied for aFASTA loan, and it was declined, we suggest waiting another 30 days before reapplying as too many inquiries at the credit bureau within a short period of time may negatively impact your credit score. Read our blog post on how you canimprove your chances of a successful loan application.
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