Frequently Asked Questions
As a consumer, you need clear information to make an informed decision about using
any financial service. You may find the answers to these frequently-asked customer
questions helpful.
If your question isn’t included here, simply call 1-800-561-CASH to speak with an
associate 24/7, or contact us online.
Cash Advance General Questions
Getting Started with a Cash Advance
Processing the Cash Advance
Fulfilling the Cash Advance
Customer Service
Cash Advance General Questions
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What is a
cash advance?
A cash advance (also known as a payday loan) is a short-term personal loan backed
by your paycheck. When your application is approved, you receive money quickly.
For an online cash advance, funds are electronically deposited into your checking
account. At a store, you receive cash at the time of approval. When your loan is
due, usually on your next payday, it is repaid. Online cash advances are repaid
with a pre-authorized electronic withdrawal from your checking account for the loan
amount borrowed plus a finance charge. Store loans are repaid in person.
-
Why do people
choose cash advances?
Research shows that while Americans do a pretty good job of managing household budgets,
most of us need occasional help. An increasing number of people choose a cash advance
to cover unexpected expenses or to bridge a short-term cash crunch between paydays
without incurring revolving debt. A cash advance is a short-term financial management
tool that provides a sensible alternative to costly bounced checks, bank overdraft
protection fees, late payment charges and tarnished credit ratings.
-
How often
can I use a cash advance?
When an immediate need arises, our services provide a common sense solution. However,
a cash advance isn’t intended as a long-term, ongoing solution for budget management.
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Can I have
more than one cash advance at a time with Check 'n Go?
No. You can only have one cash advance outstanding with Check 'n Go. This includes
both Check 'n Go Online and cash advances obtained at one of our stores.
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How much
can I borrow with a cash advance?
Depending upon income level, state of residence, and other criteria, loan amounts
can range from $50 ($100 Online) to $1500.
-
How is the
cash advance industry regulated and what determines interest rates?
Our industry is regulated by state law, where cash advances are available to residents
in 36 states and the District of Columbia. Specifically, state regulations determine
the fees and loan amounts lenders can provide, and vary from state to state. The
industry supports balanced regulations that protect consumers’ privacy while preserving
their right to access the financial options that best enhance their personal budget.
Working with the CFSA, state lawmakers balance consumer protections that ensure
appropriate use of cash advances, while enabling responsible lenders to continue
providing this short-term credit option. As a result, millions of satisfied consumers
have enjoyed the convenience and economic benefits of cash advance services without
complaint.
-
How are cash
advance fees established?
Fees are regulated and mandated by the state in which you reside. For a complete
view of your fee-to-loan calculation select the Finance Charge Schedule document
according to your state. Click
here
to go to the State Disclosures link. The fee we charge is very competitive within
the industry and in compliance with applicable state laws. It is our goal to offer
you the best service at the most competitive fee possible.
-
How does
a Faxless Payday Loan and Cash Advance Work?
Applying for a payday loan or faxless cash advance with Check ‘n Go Online is Convenient,
Easy, and Quick! Simply fill out our secure
online application with the most up-to-date information you have about yourself,
your current work situation or source of income and your bank account. We will take
care of the rest.
After you complete the application and submit it to us, a loan representative will
attempt to contact you at the numbers you supplied on the application. Our loan
processor will confirm the details and finish the rest of the application process.
Rest assured that this will NOT slow down the loan approval process. In fact, it
will speed it up!
If we are able to verify your current residence, employment situation and bank information,
your loan application may qualify for our faxless approval process. In the event
that we are unable to verify your application information, it may be necessary for
you to fax in documents in order to complete the approval process.
The documents that may be requested are:
- Most Recent Paystub
- Most Recent Bank Statement
- Proof of last loan clearing your account
- In some instances the following may be needed:
- Proof of Identity
- Our customer service representatives will gladly answer any questions.
- Once you’re approved, your funds will be direct deposited into your checking account
by the next business day.
Getting Started with a Cash Advance
-
How do I
qualify for a Check 'n Go cash advance?
Cash advances are available from Check 'n Go online and at our over 1,300 store
locations. Qualifications differ between our online loans versus our store loans.
To qualify for a cash advance with Check 'n Go ONLINE,
the following are required:
- A regular, verifiable source of income
- Minimum monthly gross pay of $800 (before taxes)
- 18 years of age or older (residents of Alabama and Nebraska must be 19 years of
age or older)
- Open active checking account with direct deposit in your name
- Not currently a debtor in bankruptcy or intend to voluntarily file for bankruptcy
- Meet various state-specific guidelines
- Valid email address and phone number
There are some important things to know about how Check 'n Go Online defines gross
pay or income. You must currently be receiving a source of steady gross income such
as payroll or benefits. The income must be directly deposited into the open and
active checking account that you are applying for the loan.
Steady income can be defined as any of the following:
- Full Time or Part Time Employment
- Social Security/Disability
- Employed through Temporary Agency
- Sub Contractor
- Self-Employed
- Commission Sales
- Other (Non-Salary) Income
- Alimony
- Child Support income
If requested*, proof of income can be provided using any the following:
- A copy of your most recent pay stub. Multiple pay stubs will be needed for those
employed as a waiter/waitress, commission sales associate, or employed through a
temporary agency
- Last year's 1099 tax form if you are a sub-contractor or self-employed
- An award letter if you are receiving a non-salary income
The following cannot be provided as proof of income:
- Children's Social Security Income (SSI)
- Social Security Income (SSI) for another individual
- Unemployment
- A power of attorney
- Checking Account
There are some important things to know about Check 'n Go Online and your checking
account:
- Proof of your most recent 30-day bank statement for an open and active checking
account may be requested.
- The ending date of the bank statement cannot be older than 45 days
- Internet and bank printouts are accepted
- Your income must be directly deposited into the checking account with your name
- "DBA" accounts or computer-generated checks are not accepted
To qualify for a cash advance with Check 'n Go IN STORE,
the following are required:
If you are employed:
- A regular, verifiable source of income
- A working phone
- An active checking account
If you receive Social Security or a pension:
- Award letter
- Bank statement showing proof of direct deposit of at least $300 per month in Social
Security or retirement checks
Bring the following when you visit our store:
- Most recent pay stub or other proof of income
- Driver's license or other government-issued photo I.D.
- Checkbook
-
I’m on Social
Security or Disability. Can I still get a cash advance?
We are pleased to provide our products and services to those on Social Security
Income or Disability. Simply provide a copy of your letter of award with your other
required loan documents in place of a recent paycheck.
-
How does
Check 'n Go determine the amount of money to advance me?
Cash advances can range from $50 ($100 Online) to $1,500. State law generally regulates
the maximum amount available to our customers. Within the allowed range, you qualify
for a particular amount based on your current income. Check 'n Go wants to be part
of your financial solution.
-
Does Check
'n Go check my credit rating for a cash advance?
No. We do not obtain a credit report from any of the three major credit bureaus.
People who have had past credit problems often receive loans from us.
-
What are
the steps to get an online cash advance with Check ‘n Go?
Getting a Check 'n Go Online cash advance is quick and easy. You can get a cash
advance from the convenience of your own home, directly deposited into your bank
account the next business day. No hassles necessary, and no gas required.
1. Complete and submit the
cash advance application
.
2. Review and accept online loan application information.
3. Review loan documents, loan status, amount of loan offered, total payback amount,
and payment due date.
4. Accept the loan by electronic signature. Within minutes, you will receive a welcome
email to the email address you provided outlining the supporting documentation we
need to review before we can fund your loan.
5. If we are able to verify your current residence, employment situation and bank
information, your loan application may qualify for our faxless* approval process.
In the event that we are unable to verify your application information, it may be
necessary for you to fax documents in order to complete the approval process. We
may also request that you fax certain documents in order to comply with your state’s
lending regulations.
The documents that may be requested are:
- Most recent paystub
- Most recent bank statement
- Proof of last loan clearing your account
- Proof of identity
You will receive an email once all documents have been received and processed. We'll
electronically deposit the loan amount directly into your checking account on the
next banking business day once all supporting documents have been received and verified.
On your due date (typically your next pay date), the loan amount and finance charge
will be directly withdrawn from your account.
-
Do I need
to fax any documents for an online cash advance?
If requested*, you may be required to fax the following documents to 1-800-723-7032:
- Most recent paystub
- Most recent bank statement
- Proof of last loan clearing your account
- Proof of identity
-
How long
does it take to get approved for a cash advance?
For online cash advances, you will receive an email regarding your loan application
once you agree to the provided disclosure information and submit your application
for approval. Completion and funding of your online loan is pending receipt and
verification of any required documents* and an electronic loan documents signature.
For cash advances at our store locations, you can be approved in minutes, if you
have all your required documentation.
-
Do I Need
to Send in Additional Documentation?
We hear this question a lot. At Check ‘n Go Online we have the added convenience
of a faxless loan process. However, since Check ‘n Go Online follows state lending
regulations, based upon the consumer’s state of residence, some documents may need
to be reviewed before a loan can be finalized. These laws are created to protect
you, the consumer.
For customers that are required to get more documentation, we will only ask you
to send in the minimum documents.
The documents that may be requested are:
- Most Recent Paystub
- Most Recent Bank Statement
- Proof of last loan clearing your account
- In some instances the following may be needed:
- Proof of Identity
Processing the Cash Advance
-
I was told
my online cash advance documents were sent to my email address, but I have not received
them?
Please be aware that some email providers (or ISPs) have spam features that cause
our email to be received in the "Spam" or "Junk" email folders. Check this folder
if you do not see our email in your main Inbox. Sometimes the receipt of an email
can be delayed as well, so if possible, allow an additional 30 minutes for receipt.
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How do I
check the status of my online application or get copies of my loan documents?
To check the status of your online cash advance loan, log in to "
Log
In to Your Account" on the homepage using the email address and password
you established when applying for your loan. While logged in, you can also review
and print any of your loan documents.
-
How do I
sign my online loan documents?
When you receive an email notifying you that your loan has been approved, you can
use your email address and password to sign on to
www.checkngo.com.
You will be able to review your loan agreement and e-sign your approval by selecting
a check box. This serves as an electronic signature and is legally binding.
-
Why is there
so much information in the Customer Agreement?
The Agreement you read and sign prior to receiving a cash advance is a contract
between you and Check 'n Go. Our contract complies with all applicable state or
federal disclosure requirements. It fully outlines the terms of the cash advance
transaction, including the cost of the service fee both as a dollar amount and as
an annual percentage rate (APR). Although most customers do not consider APR information
helpful when evaluating the cost of a cash advance, in the interest of full disclosure,
Check 'n Go wants you to have all the information you need to make an informed financial
decision.
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When will
I receive my cash advance funds?
For online cash advances, if we are able to verify your information before 8:00
p.m. ET, you can receive your funds the following banking business day. At a Check
'n Go store location, you will receive cash immediately.
Fulfilling the Cash Advance
-
When will
the cash advance be due?
The loan will be due on your next payday following the origination of the loan.
-
How much
will I owe on my cash advance?
As an industry leader, Check 'n Go is at the forefront of providing full disclosure
of our rates and terms, so our customers can make the best decisions possible regarding
their finances. Click on the appropriate State Disclosure to get finance charge
schedules by state and amount borrowed.
-
How do I
pay the cash advance back?
For online cash advances, it is repaid with a pre-authorized electronic withdrawal
from your checking account for the amount borrowed plus a finance charge. For a
store cash advance, return to the store on your scheduled due date and pay back
your loan for the amount borrowed plus the finance charge.
-
What happens
if I don't have the funds necessary to repay Check ‘n Go on my due date?
Just like you, we hope this doesn't happen. But if it does, Check 'n Go is committed
to collecting past due accounts in a professional, fair and lawful manner. If we
deposit your check and it is returned by your bank due to insufficient funds, you
will be charged a returned check charge if permitted by your state's law. You will
be responsible for payment in full of your account, including the returned check
charge. We will contact you to collect the amount due. If necessary and appropriate,
your account may be turned over to a collection agency.
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After I pay
off my cash advance, can I get another cash advance?
Yes. However, depending on your state of residence you may have to wait a period
of time before initiating a new cash advance.
-
Can I refinance
or roll over my cash advance?
A refinance or rollover can be described as using the proceeds from a new loan to
pay off the balance of an existing loan. The ability to refinance a loan is contingent
upon your state of residence. The number of times a loan can be refinanced also
varies by state.
Alabama, Colorado, and Rhode Island allow one refinance of the original principal
balance. Arizona, Missouri, New Mexico, Texas, Idaho, South Dakota, Delaware, Oklahoma
and Utah permit up to three. At this time, refinances are not permitted in any other
states.
In order to qualify for a refinance of an online loan, you must pay not only the
finance charge due on your existing loan but you must also pay down the principal
of that loan by at least $25.
Customer Service
-
What can
I do if I'm ever dissatisfied with the service received from Check 'n Go?
We strive to provide the most courteous and professional customer service and receive
very few customer complaints. But occasionally a problem may arise. If you have
a concern that is not resolved to your satisfaction, we invite you to call our Customer
Comment line toll-free at 1-888-3-PAYDAY, or email
comments@checkngo.com.
The management team of Check 'n Go wants to address your concerns. In the unlikely
event you have a dispute we can't work out together, our Agreement provides that
you can take your issue to small claims court or request arbitration, where a neutral
third party hears both sides of the issue and makes a binding decision.
-
What do I
do if I cannot find the answer to my question?
You can find answers to more questions in our other Frequently Asked Questions pages:
Check 'n Go General
Still don’t have your questions answered? Contact us!