Advice on setting up P2P account with Bondora please

[Fisher100]

Hello everyone,

I quick question if I may please. I am interested in investing a little in P2P lending and as I am an Australian living and working in France, I am not eligable for Lending Club so I've found "Bondora" who are are a P2P lending company based in Estonia and operating throughout Europe.

I haven't invested like this before so I'm cautious, and to set up an account, first it asks for your bank details and then for you to transfer an amount of money - the example it gives is one euro cent, to establish that you are the owner of the account and then a Bondora employee will confirm this and you can start using their services.

Is this normal? Thanks any advice, much appreciated.

[sparkshooter]

I know nothing about Bondora, BUT it is common for financial companies (Paypal, Target debit, etc.) to make "micro deposits" to your account and then make you confirm how much was deposited. So for instance, they'll deposit $.04, then withdraw $.04, and you'll have to report that to Bondora to prove you "own" the account.