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No Checking Account Cash Advances – How to Get Pay Day Loans When You Don’t Have a Checking Account
By plrprousers | July 20, 2009
Do you need money now but you don’t have a checking account? There are two ways to get the money you need. One way is online, the other is in person.
People have been going to cash advance companies in their neighborhoods for years. Although you may have to wait in line, when all is said and done they will put the money in your hand. Although it’s not your safest alternative you will be able to get the money you want to take care of your financial emergency.
Your other choice is to get easy cash advances on the Internet. And despite what you might have heard, it is possible – even if you don’t have a checking account. There is a trick, though. You will first have to open up a savings account.
There is a good reason you need a bank account in order to get a cash advance. It’s because the payday loan company wires the money directly into your bank account, no matter if it’s a savings account or a checking account, when it lends you the money. And then, when it’s time to pay them back, they automatically debit the amount you borrowed plus their fees and interest from the same bank account.
Online payday loan companies do not send checks through the mail, so if you don’t have any type of bank account you will not be able to get a no checking account cash advance from them.
Getting money electronically wired into a bank account is faster, easier, and safer than borrowing money offline. At the outside it takes 24 hours to get the money you want, although some cash advance companies can wire you the money within one hour.
If you don’t have a savings account yet, you can open one up. Then you’ll be able to have money deposited into it that you can instantly withdraw no matter where you are. That’s because you will get a debit card.
Once you have a bank account it is very easy to get a cash advance online. The application only takes a few minutes to complete and there is no credit check. So you will be able to get a loan if you have good credit, bad credit, or no credit.
Keep in mind that not every online payday loan company offers online cash advance payday loans to people with savings accounts and you might have to search online for the ones that do. That’s actually a good thing because the interest rates can vary by as much as 20% from one company to the next. This way, when you do your search, you will be able to find the company with the lowest fees and interest rates.
The interest rates for payday loans are high. Because of that most people only get cash advances if an emergency comes up and they really need the money.
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