Payday loan fees are regulated by state and federal law. Payday loan interest rates are expressed by using Annual Percentage Rate (APR).
Payday Loan Service Fees
The amount charged for a payday loan is the total amount borrowed, plus a service fee. This fee is a one-time, flat payment that varies only slightly depending upon how much is being borrowed. Payday loan service fees are regulated and dictated according to state laws where the borrower resides. Payday lenders who practice choice of law are exempt from this regulation. When a lender practices choice of law, the fees are regulated by the laws of the state in which the lender originates, and not by the state where the borrower resides. Reputable payday lenders typically avoid the practice of choice of law.
Payday Loan Interest Rates
United States federal law requires that the fees for any financial transaction be expressed to the customer in terms of annual percentage rate, or APR. The formula for APR assumes that that the loan will last a year or more. A payday loan is a two-week loan, so commonly seen APRs for payday advance loans are very high. This is because the APR is expressing the one-time loan fee in terms of an annual charge. Even though payday loans are not intended to be held for a year or longer, payday lenders express their fees in terms of APR to comply with federal law.
Hours of Operation for Online Customer Service
Monday – Friday 8am – 8pm (ET) Saturday 8am – 2pm (ET) Sunday Closed
7755 Montgomery Road Cincinnati, OH 45236
Customer Notice: Payday loans / cash advances are typically for two- to four-week terms. Some borrowers, however, use them for several months. Payday advances should not be used as a long-term financial solution, and extended use may be expensive. Borrowers with credit difficulties should seek credit counseling.
*Approval depends upon meeting legal, regulatory and underwriting requirements. Check 'n Go and third party lenders may, at their discretion, verify application information by using national databases, including but not limited to Teletrack, that may provide information from one or more national credit bureaus, and Check 'n Go or third party lenders may take that into consideration in the approval process.
†Check 'n Go Online is not a direct lender in Texas and Ohio, where instead it acts in the capacity as a Credit Services Organization in conjunction with NCP Finance Limited Partnership as the direct lender.
‡Check 'n Go and third party lenders may, at their discretion, verify application information by using national databases, including but not limited to Teletrack, that may provide information from one or more national credit bureaus, and Check 'n Go or third party lenders may take that into consideration in the approval process
Products or services offered to customers may vary based on customer eligibility and applicable state or federal law. Actual loan amounts vary. See State Center for specific information and requirements.
Check 'n Go is currently operating in: Alabama, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Wisconsin, and Wyoming.
Check 'n Go OH License #SM.501663 and #CS.900077.000, and #CC700416. Rhode Island licensed check casher. Licensed by the California Department of Corporations pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Finance Lenders Law. Texas and Ohio-Loans originated by a third party lender, restrictions apply.
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