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Frequently Asked Questions

We are NOT a financial institution nor do we take any deposits. We are merely an auction facilitator. Clients must understand that they will be dealing with people or banks who will take their deposits, just like any ordinary cause of business, caution is required. You should always have a good contract if you are lending/depositing to non-financial institutions. You should be careful when dealing with individuals who offered unsustainable rates. If they are not in your state, then you should not deal with them. Do not deposit/lend more than $5000 as this is the probably the maximum amount you can claim in a small claims court. If you are lending to strangers, you should check their identity, do a pipl.com search. Give them a call and ask whatever documents you need to verify their status. If you lend money to someone living in your city, then the risk is even lower as you can check them out in person or have a skype video (record the video for goodness sake).