These days, cash advances have become more and more simple and easy to get when needed. Just about anybody with a computer, a checking account and some type of income can get one without even leaving their home. Internet payday loan companies abound on the Internet and make it a fairly speedy process. In most cases, funds will be available in your checking account that night, but some even offer same day funds.
If you choose to shop elsewhere online for a cash advance, be wary and lookout for the following:
· Your personal data is secure-look for a security certificate that you can click
· Membership in professional organizations-look for BBB, FISCA, and CFSA
· Posted Rates & APR- these should be clearly disclosed
· Responsible Lending Policy- legitimate lenders should have one, or similar
· A user-friendly form-the form should not to be too hard to navigate
· Lender is licensed in your state-there are many unlicensed lenders out there
· Site is a real lender, not an affiliate-many sites don’t lend, they just pass your personal info on to dozens of other companies. Look for a disclosure at the bottom of the landing page, which should advise you if they are the actual lender or not. If not, move on to the next available lender.
Most lender websites will give you an answer right away after you fill out the form completely and submit it, although some may require a telephone call as per their requirements or some states’ regulations.
Once your loan funds are deposited to your account via ACH, it’s up to your bank how quickly they are posted. Generally, they will post at midnight that night when received, but some banks may not post until the next day, usually in the a.m. If you have questions, call your bank.
Now that you have your loan funds for that emergency or special occasion, don’t forget to make a note of your due date. If, for some reason, it is going to fall between paydays, call your lender and make arrangements. You do not want it to be returned and cost you a small fortune in bank and late fees.
Paying off your cash advance in full on your payday is always the best practice. If you can’t, however, be sure to make arrangements to pay the fee. Be sure to allow your lender sufficient time before your next payday to enter this info, so that there are no unpleasant surprises. Another good idea is to add whatever amount you can afford to the fee payment, thereby reducing your loan each time you pay and making it much easier to pay off on another payday.
There are many valid reasons for getting a cash advance. Some of them may even save lives. If a loved one is sick or hurt and needs immediate care, but you are short of funds, a payday lender is standing by to help. The same goes for pets. Even though they may have four legs instead of two, they are still family members. Sometimes an illness or injury comes out of nowhere, and vets usually don’t extend credit.
Other emergencies can include utility cut-off notices, home repairs, vehicle repairs, past due insurance premiums, weddings, engagements, birthdays, back-to-school, Christmas, Valentine’s Day, and so much more. Cash advances are always available in person or online no matter what the need may be.