FAQ

Who can get a loan from the Webtransfer social credit network?

The Webtransfer social credit network does not loan or borrow money. It is a platform where members of different social networks willing to lend or borrow money on their own terms can find each other. Webtransfer simply provides the opportunity for this interaction.

 

Registration

Who can register with Webtransfer?
Any person 18 years and older can register with Webtransfer.
How can I register with Webtransfer?
You can simply log in to Webtransfer using your profile on one of the social networks: Facebook, Twitter, Google+, vKontakte, Odnoklassniki, or MoiMir@Mail.ru, or register using your email.
How can I verify my profile?
There are two ways to verify your profile:
1) Verify your phone number by entering the SMS code in the special field (limited verification),
2) Verify your identity by uploading the necessary copies of ID documents.

 

Investors

Who can lend with Webtransfer?
Any existing member of Facebook, Twitter, Google+, vKontakte, Odnoklassniki, or MoiMir@Mail.ru that is 18 years of age or older can be a lender.
How to issue a loan?
You need to enter the website using one of your social network accounts to issue a loan for the first time.
There is a credit calculator in the “My investment” section at https://webtransfer-finance.com/en/account/my_invest :
  1. Choose the amount you want to lend ($50 to $1,000 USD per loan).
  2. Choose the desired term (3 to 30 days).
  3. Choose the desired interest rate (0.5% to 3% per day).
  4. Select between  «Guarant» and «Standard» options. 
  5. You have to agree with the Terms and Conditions in the pop-up window by pressing the “Confirm” button.
  6. You will be offered to add money to your personal account.
  7. You will start making money as soon as the system matches your request with an offer.
Can I issue a loan with a guaranteed return?
Yes. You have to choose the “Garant” option on the credit calculator while creating a loan issue request (enabled by default). This option ensures the return of the loan at par value (loan amount), plus a minimum income that is equal to 0.065% per day if the borrower falls behind with the payments.
I don’t want to deduct so much from my income to the Webtransfer social credit network. What do I do?
You have to choose the “Standard” option on the credit calculator when creating a loan issue request. You will earn more, deducting only 10% of your profit to Webtransfer to cover the operational costs. In this case, the lender is responsible for all the credit risks.
How is my investment protected? 
If a borrower falls behind on payments for the loan, the lender is covered by the Security Fund of the credit network in exchange for the right to claim the debt from the borrower. Credit certificates are redeemed at par value (loan amount), plus a minimum income that is equal to 0.065% per day. This rule only applies to creditors using the "Garant" option. Accounts of members in other social networks allow lenders to learn more about the borrowers and form an opinion before you approve a loan.
The Webtransfer social credit network cooperates with collection agencies.
Ваши деньги не являются частью активов Webtransfer. Они переводятся сразу после пополнения платежного счета (Мой кошелек) напрямую заемщикам.
Must I deduct anything to the credit network?
Lenders using the “Guarant” option deduct 30% to 50% of income that they get from borrowers. The deduction amount depends on the term of the loan. If there is no income, then there is no deduction.
Lenders using loans under the “Standard” option deduct just 10% of their income as a commission to cover the operational costs.
How much time will it take to lend my money?
There isn’t a guaranteed time frame for your money to be invested. There is a constant demand since loans are provided for such a short period of time. Most of the time, you will be able to issue a loan within one day. Issue time also depends on the amount that you are willing to invest.
What is Arbitrage?
Loan arbitration is a series of lending and borrowing transactions aimed at taking margin profits due to the difference in the interest rates.
In other words, arbitrage means borrowing money at a smaller interest rate to then lend at a higher one.
Who can get an Arbitrage loan?
Arbitrage is available to any member of Webtransfer in the amount of three times the amount of his or her own funds at 0.5% per day. The maximum amount of the loan for arbitrage is $3,000 USD.
Conditions to get Arbitrage
Arbitrage is issued under collateral. The collateral may be:
  1. Own funds in the amount of 1/3 of the amount of the arbitrage loan;
  2. Credit certificates of loans issued at the expense of the obtained credit for arbitrage;
  3. Credit certificates;
  4. Standard loans received;
  5. Guarant loans received (in the amount of own funds).
How can I use an Arbitrage loan?
You can use an Arbitrage loan only to issue loans under the «Guarant» option.
What is the Overdraft option?
The Overdraft allows members with a rating of 12 or higher to issue loans in an amount exceeding their payment account balance.
Conditions of using Overdraft
The Overdraft option allows you to issue Guarant loans without having a sufficient amount of funds in the account. You need to add money to your account before the expiry of the loan issued. All profits earned prior to the deposit of the funds are transferred to the Security Fund.
In case the funds are not deposited, your Rating will be lowered and a $10 USD fine will be charged to your account.
What kinds of loans can I issue in the Overdraft mode?
You can only issue Guarant loans using Overdraft mode.

 

Borrowers

How much can I borrow?
You can borrow any amount from $50 to $1,000 USD.
For how long can I borrow money?
The loan term can vary from 3 to 30 days.
Is there a guarantee that I can get a loan?
A person that previously issued a loan to another party in the network (and thereby confirmed his or her solvency) has the highest credit rating and is guaranteed to get a lower interest loan secured by the credit certificate.
How to get a loan?
In order to get a loan for the first time, you need to enter the website using one of your social network accounts. It is necessary to fill out the "My Profile" section and upload copies of identification documents in the "My Documents" section so that the operator can verify your identity and set up the Webtransfer account.
The member should first read and accept all Terms and Conditions located at https://webtransfer-finance.com/en/page/about/terms to apply for the loan.
There is a credit calculator in the “My loans” section at https://webtransfer-finance.com/en/account/my_credits.

1. Choose the amount you want to borrow ($50 to $1,000 USD).
2. Choose the desired term (3 to 30 days).
3. Choose the desired interest rate (0.1 to 3% a day).
4. You have to agree with the Terms and Conditions in the pop-up window by pressing a “Confirm” button.
I have applied for a loan, what happens now?
Once you have applied for a loan, the request will be reviewed and posted within 24 hours (Monday to Friday). You will be notified if there is a lender with a matching offer. The funds will be transferred to your account if the lender approves your loan.
How to repay the loan?
To repay a Guarant loan, you just need to add money to your account at the Webtransfer credit network. The outstanding amount will be drawn automatically from your account.
Standard loans need to be repaid manually.
Can I pay back my loan before its maturity?
An early repayment option is not provided due to the fact that only short-term loans are issued in the Webtransfer credit network. However, you can redeem the Credit Certificate issued to your loan and it will then be considered “paid off”.
What is a Credit Certificate?
A Credit Certificate confirms that the lender has issued a loan to the borrower. It contains the issue date, maturity of the loan, amount, and interest rate. Credit Certificates are secured by the loan that was issued.
What does the Credit Certificate confirm?
A Credit Certificate verifies the creditor's right to receive income on a loan granted after its maturity, including the specified principal amount and interest.
How to use a Credit Certificate?
You can:

- Get a loan secured with the Credit Certificate.
- Get it redeemed for par value (loan amount), plus a minimum income equal to 0.065% per day. This rule only applies to creditors using the "Guarant" option.
- Sell it to a third party who can make income on the growth of the market value of the Credit Certificate.
How to sell a Credit Certificate?
Credit Certificates can be sold before the maturity of a loan at par value (loan amount), plus a minimum income equal to 0.065% per day by pressing the “Sell the certificate” button in the loan information section. This rule only applies to creditors using the "Garant" option.
A Credit Certificate can also be sold to a third party at market price.
For how long is the Credit Certificate valid?
The validity of a Credit Certificate is limited to the term of the loan.
The Security Fund
The Security Fund of the Webtransfer social credit network is a fund formed by deductions of money from the earnings received by lenders. It is not a commercial fund, so it can’t be used to generate income. If lenders have used the “Guarant” option, the funds can be used to give lenders the remainder of the money (including the minimum guaranteed income) owed on loans that their borrower can no longer repay. Additionally, the deducted funds are used for the development of the credit network.
How does the “Guarant” option work?
The Webtransfer credit team monitors missed payments and makes sure that they are followed up on quickly.
In the rare event of a borrower experiencing financial difficulties, leaving them unable to keep up with the repayments, you will be paid from the Security Fund at par value (loan amount), plus a minimum income equal to 0.065% per day in exchange for the ownership of the loan.
Where does the money come from that goes into the Security Fund?
According to the Terms and Conditions, lenders deduct 10% to 50% of the interest received to the social credit network. The Security Fund is formed from these deductions. Management and development expenses are covered the same way, enabling the credit network to function.
When does the Security Fund make payments?
The lender can use the “Guarant” option to get his or her money before the maturity of the loan, or if the borrower has difficulties repaying the loan.
Are there any circumstances in which losses are not covered by the Security Fund?
There are a few types of losses that are not covered by the Security Fund:
  • Losses from loans issued outside of the Webtransfer social credit network, as well as those loans issued that have violated the Terms and Conditions;
  • Losses on loans issued without utilizing the “Guarant” option;
  • Fake losses. If there are sufficient grounds to believe that the losses claimed for reimbursement are the result of fraudulent activity of the members of the social network, payments to these members will be suspended until an investigation is completed.
Is all lending protected through the “Guarant” offer?
Any lending you do through the Guarant offer is protected. Any lending you did beforehand through a non-Garant offer is not eligible for coverage from the Security Fund.
Payments from the Security Fund are made in the following order:
up to 1% interest a day – 1st order;
up to 2% interest a day – 2nd order;
up to 3% interest a day – 3rd order.
What does the Collection Department do?
The Collection Department of the Webtransfer social credit network works in the best interest of all network members. Collections are executed by taking ownership of a loan and passing it to third parties (collection agencies).

 

Bonuses

How to earn bonuses?
There are many ways to invite your friends to join you at Webtransfer: you can send an invitation by email, post it in your social networks, or personally deliver your affiliate link by any convenient means.
When someone joins Webtransfer through your invitation link, we will deposit a $50 USD credit bonus to his/her account. This is our way of helping you build a strong affiliate network!
How can I use bonuses?
If you have a bonus, it will automatically be applied to the next loan you issue. All you need to do is to log in to your account in the Webtransfer credit network and place an Order to issue a loan - it's that easy!
Please note that the bonus funds may be used only once and only with the "Guarant" option. This will protect you from the risk of the loan not being repaid. When placing a lending Order, the "Guarant" option is enabled by default. Please do not change it to Standard, or the bonus will not be used.
Are there any limitations on the use of bonuses?
You can use bonuses under the described conditions as long as the sponsor-partner’s funds remain available.
Bonuses can be used only to provide loans on www.webtransfer-finance.com for a period of up to ten (10) days. The loans can be issued only once and can be used for credit only with the "Guarant" option. Apart from regular loans, you can't withdraw bonuses, use them to repay loans, or transfer them to a third person’s account. When your borrower repays the loan issued using credit bonuses, the principal amount comes back not to you as a creditor, but to our sponsor/partner. You only get the income.
You don't receive anything on deductions made by your referrals from income earned on bonus loans. It all goes to the Security Fund.
How to issue a credit using bonuses?
Bonuses can be used only to provide loans on www.webtransfer-finance.com for a period of up to ten (10) days. The loans can be issued only once and used for credit only with the "Guarant" option.
There is a credit calculator in the "My Investments" section at https://webtransfer-finance.com/account/my_invest:

1. Make sure you select the checkbox labeled "Use credit bonus";
2. Select the amount of bonus money that you would like to use ($50 USD to $1,000 USD per loan);
3. Select the loan term (3 to 10 days);
4. Select the interest rate at which you want to issue a loan (0.5% to 3% per day);
5. In the pop-up window, you must agree with the Terms and Conditions of use of the system by pressing the "Confirm" button;
6. You will start earning as soon as the system finds a match for your Order.
Note: you don’t need to do anything else, press buttons, or select borrowers. All you need is to wait until the system matches your Order.
What is the difference between my credit bonus and a regular loan at Webtransfer?
All the bonuses are provided by our sponsors/partners. They can only be used to issue loans. Apart from regular loans, you can't withdraw bonuses, use them to repay loans, or transfer them to a third person’s account.
When your borrower repays a loan issued using credit bonuses, the principal amount comes back not to you as a creditor, but to our sponsor/partner. You only get the income.
Is there a maximum number of credit bonuses I can earn?
There is no maximum number of bonuses one can earn.
However, the total number of bonuses is limited and they are provided on a first-come, first-served basis. If all the bonuses are awarded and no additional ones are available, no reimbursement is offered. No one is eligible for compensation of any type.
Will I get bonuses for previously invited members who joined Webtransfer sometime in the past?
You can get bonuses only for new users, engaged by yourself or your referrals. This means that no credit bonuses are offered for friends invited in the past. Will I get bonuses for friends who joined Webtransfer in the past?

The bonus can only be obtained for new members invited to Webtransfer by you. This means that you will not receive any bonuses for any friends you invited in the past.
What types of loans can I issue using my credit bonuses?
Most types of loans at Webtransfer can be issued using bonuses. However, bonuses can’t be applied to loans with a term of more than ten (10) days or to borrowers who do not fall under the "Guarant" option.

 

Rating

What is a Rating?
Rating is one of the indicators that will help others see your solvency.
What does a Rating indicate?
A Rating demonstrates the strength of the financial strategy of every member of the credit network.
What method is used to calculate a Rating?
For the Credit Rating formula, we use a "pessimistic" calculation method called an Extreme Stress Test. This is a situation when a person must pay all the debts because the person is not being paid back by others.
Your Rating rises and falls automatically in response to your transactions.
What are the advantages of a high Rating?
The higher your Rating, the more money you can get on more favorable terms.
A Member with a Rating of 12 can obtain loans with the "Guarant" option backed up by his assets (Credit Certificates and funds on the payment account).
Can all members with a Rating higher than 12 get «Guarant» loans?
Yes, all members with a Rating higher than 12 can access "Guarant" loans.
Rating consists of two parts: identification and financial standing. The financial part is more important for Security Fund backings. That is why some users with a Rating of less than 12 may be backed by the Security Fund. This happens because one didn't finish the account verification process yet, but one’s financial past is very strong.
For what amount can I get backing of the Security Fund?
The minimal rating to get backing is 12. Some examples are given below:
Rating Amount $ % Rate (per day) Period (days)
12 50 0,5 3
13 50 0,5 30
15 100 0,5 30
23 250 0,5 30
35 500 0,5 30
48 750 0,5 30
61 1000 0,5 30
How can I boost my Rating?
A new member gets a Rating of 5. After verification of their profile, the Rating increases to 9.
The Rating further grows with the increase of net assets of the member.
The more money in the payment account and the more outstanding profit-making credit certificates that one has, the higher one’s Rating.
The maximum size of a single Security Fund backing is $1,900 USD. To qualify for that level, one’s Rating should be equal to 93.
Credit Certificates of loans issued using bonuses are not taken into account when the Rating is calculated.
What Credit Certificates can I use as collateral for getting a loan?
You can get a loan using as collateral Credit Certificates of the loans issued from a payment account with the "Guarant" option.
What Credit Certificates can’t I use as collateral for getting a loan?
You can’t use Credit Certificates of loans as collateral that were issued using bonuses, because after repayment, the principal amount of the loan is returned to our partner and sponsor of the bonus program, rather than you. Therefore, it can’t serve as collateral for obligations.
You can’t use credit certificates of loans as collateral that were issued using Arbitrage funds, because after repayment, the principal amount of the loan has to be repaid to the Arbitration Fund. Therefore, it can’t serve as collateral for obligations.
Why do I need a Rating?
Based on the Rating, we determine the individual loan amount for every member that can be backed by the Security Fund without endangering other guarantees issued.
Why does Webtransfer use this method of calculating a Rating?
At this point, anyone could have a good or bad credit history, but that doesn't really matter. How one treats his/her liabilities in the present is what actually matters. Huge corporations go bankrupt in the blink of an eye because they base their decisions on the past. Here at Webtransfer, we build on the future by drawing on the present!

 

Funds and settlements

How to withdraw money?
Use the «Withdrawal request» in the «Withdrawal» section at the address: https://webtransfer-finance.com/account/payout.
How much money can I withdraw from my account?
You can withdraw any amount over $50 USD from your account, except for the bonus money.
How soon are the funds withdrawn?
Withdrawal requests are usually processed within 24 hour period according to the paragraph 2.13 of the Terms and Conditions. In some cases the processing time may be extended to 72 hours.

The timeframe, in which the funds are credited to specified account, after the withdrawal request has been processed, is determined by the financial institutions or payment platform according to the chosen method of withdrawal (Bank, eWallet etc.), in some cases it may take up to 7 business days.

In case of the delay beyond abovementioned timeframe, please contact Support Team of Webtransfer.

Withdrawals of Partner’s reward will be made on a bi-weekly basis, every 1st and 3rd Friday of the month. However, aforementioned schedule does not apply to withdrawals made via exchange platforms, which can be done at any time, at rates/fees set by operator of the exchange platforms.

Abovementioned schedule does not apply to withdrawal requests suspended by Security Department. Security Department reviews suspended requests in the order they were received, therefore, you should patiently await the resolution of such review.
"Direct" option
The "Direct" option allows you to transfer money to a contracting party (borrower-creditor), thereby bypassing Webtransfer. For example: from card-to-card, from a bank account to a bank account, or using any other payment system at your discretion.
How does this work? Let's say that you have a credit limit of $500 USD.
1) You place a lending Order for an amount of $500 USD with the "Direct" option. Your assets in the amount of $500 USD are blocked (held) in your account.
2) Once your Order is matched, it gets the "Pending" status.
3) After you have transferred the funds directly to the contracting party, thereby bypassing Webtransfer, your loan will become active and the held amount will be made available to you again.
Does the lender pay income tax?
According to the laws of many countries, income is taxable. It is an obligation of the individual member to monitor the level of one’s income, to declare it, and to pay taxes in accordance with the laws of their country.
Who regulates Webtransfer?
Webtransfer Europe Ltd. (Company Number 06453803) provides money transfer services in compliance with UK laws and regulations. It is registered with the Financial Conduct Authority under the Payment Service Regulations 2009 (license number 569645 of 17.01.2012) for the provision of payment services. Webtransfer Europe Ltd. is registered with HMRC as a money transmitter company.


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