How Do I Get A Prepaid Debit Card?

A payday loan works very simply. The payday loan application typically requires just a few simple steps, the fees are straightforward and stated upfront, and most borrowers experience fast approval time. For occasional cash shortfalls and unexpected expenses, a payday loan can be a good source for fast cash when you need it. Here are the basics:

After filling out a payday loan application and getting approved, the borrower signs a contract with the payday lender;

Because of requirements by the Truth in Lending Act (TILA), payday loan contracts eliminate the possibility of any hidden fees or terms. Under TILA the contract will clearly state the terms of the agreement, including a repayment date, the full amount required for full repayment, and the APR that applies to the amount borrowed. As with any legal document, be sure to look over and understand the terms of any payday loan contract before signing.

After signing the payday loan contract, receipt of payday advance loan funds depends on whether the borrower applies online or in-store:

If you apply for payday loans online and are approved, your funds will be directly deposited into an active checking account. Your payday loan will be available to you on the next business day.

If you apply in-store and are approved, your payday loan funds will typically be available that day. You may need to provide your payday lender with a check, post-dated for when your repayment is due, for the full repayment amount plus the stated payday loan fee. The payday lender will then holds that check until an agreed upon repayment date, which typically falls around your next payday.

Payday loan repayment terms also depend on whether the borrower applies online or in-store:

For online payday loans, you will repay with a pre-authorized electronic withdrawal from an active checking account for the amount borrowed plus the stated payday loan fee.

For in-store payday loans, you can return to the store on the scheduled due date to repay the loan for the amount borrowed plus the stated payday loan fee. You can also simply let the lender deposit the check that had been post-dated at the time the loan originated.

That’s all there is to it; a payday loan is just that simple. Keep in mind that payday loans only work well when used for occasional, short-term expenses. To find out more information about using payday loans the right way, take time to explore more of our payday loan FAQs.

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Customer Notice: Payday Loans are typically for two-to four-week terms (up to six months in IL). Some borrowers, however, use Payday Loans for several months, which can be expensive. Payday Loans (also referred to as Payday Advances, Cash Advances, Deferred Deposit Transactions/Loans) and high-interest loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction. See State Center for specific information and requirements.

Rhode Island licensed check casher. California operations licensed by the California Department of Financial Protection and Innovation pursuant to the California Deferred Deposit Transaction Law. Texas loans originated by a third-party lender, restrictions apply. Eastern Specialty Finance, Inc., D/B/A Check ‘n Go is licensed by the Delaware State Bank Commissioner pursuant to 5 Del. C. sec. 2201 et. al., and expires 12/31/2020.

Check `n Go Online is not a direct lender in Texas, where instead it acts in the capacity as a Credit Services Organization in conjunction with third-party lenders.

*Approval depends upon meeting legal, regulatory and underwriting requirements. If approved and originated by 8:00 pm ET on a business day, online loans are typically funded the next business day. All times and dates are based on Eastern Time (ET). Check `n Go and third-party lenders may, at their discretion, verify application information by using national databases 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.

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Products or services offered to customers may vary based on customer eligibility and applicable state or federal law. All available products subject to applicable lender’s terms and conditions. Actual loan amounts vary. See State Center for specific information and requirements.

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