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Savings Account Payday Loans & Cash Advances

No Checking Account? No Problem!!


By Staff Writer: Tmeister

Quick Cash Now Network lenders may provide payday loans to either savings or checking accounts. Some banks have restrictions on direct deposit of funds to a savings account so you may need to arrange direct deposit of your funds with your bank.

Our Quick Cash Now! savings account payday loan service provides quick cash advances to any savings account allowing direct deposit. Other lenders may provide loans without direct deposit.

Direct deposit enables the lender to make electronic cash deposits and payment withdrawals. The advantages are that you don't have to go to a store to receive your cash. If the loan is for paying bills you can write a check and not even have to leave the house.

The downside is the lender can withdraw the money directly. It is important that you notify the lender before the loan closing date to arrange payment extensions and/or terms. It is not wise to get into the practice of "rolling over" payday loans.

For the most part the lending practices and document requirements of a payday loan lender should be reflected in the fees and interest rates charged. Be wary of those that seem high in relation to the risk inherent to their lending practices and document requirements.

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