Is Borrowell safe?
- Asked By
- Updated On:29-Nov-2022
- Replies:1
Short Answer
Yes, we believe that Borrowell is safe to use. We based it from its privacy policy and associate partners.
Detailed Answer
What is Borrowell?
It is a Canadian credit services company that offers products and services such as credit scores, credit reports, rent reporting, credit builder, personal loan services, banking services, insurance advice and comparative reports. It is not a credit bureau and it is only associated with Equifax, which is one of the credit bureaus in Canada. Hence, many doubt if it is safe to use Borrowell as you will be required to link your bank account and pay subscription fees for some of its services. Let us find out.
Safety of Borrowell
- Borrowell was founded in 2014 and has been in the market for nearly 8 years now.
- It is a legal and a registered company in Canada.
- The company has reported that it has over 2 million customers.
- It is associated with Equifax Canada.
- Its insurance partners are Surex, Lowestrates.ca, National bank, Square one, Sonne, Apollo and Policy me.
- Its banking partners are Scotia bank, BMO, national bank, EQ bank, Motusbank and Wealthsimple.
- Its credit card partners are CapitalOne, American Express, BMO, Scotiabank and National bank.
- The company’s privacy policy promises its clients that it will not share the client's information with third parties. Borrowell’s website mentions that the company invests in fraud detection and protection technology and maintains “rigorous security procedures” to ensure the safety of the financial information you may share with it.
- You can find reviews from Borrowell users on its website: Borrowell Reviews
Is Borrowell safe?
Based on the above points, we believe that Borrowell is safe to use. For more information, you can use its Help Centre
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