Payday Loans - No Checking Account

When you have an unexpected expense crop up, like your car breaking down and you needing to pay for the repairs, or an additional bill arrives in the mail, taking out a payday loan can be a convenient way to get the money you need. But what if you don’t have an active checking account? If you’re looking for payday loans no checking account could be an issue. 

A lot of traditional lenders ask to see your bank account before lending to you, so that they can find your source of income and assess how you’re spending your money. But there are a few lenders that don't require you to have a checking account or need to see proof of income. So if you’re looking for a loan without checking account requirements, Find Me A Loan Today may be able to help you borrow up to $5,000 to cover any emergency costs. 

One of the best things about payday loans is that as they're so short term, you may not pay back that much interest overall. Interest is only paid while the loan is open, so if you were to borrow a payday loan for a week, you’d only be paying seven days of interest. Most traditional lenders won’t have the option to borrow for such a short period of time, so if you’re just looking for a quick loan, a payday loan could be a good option.

What is a Cash Advance Loan?

Generally, a cash advance is a type of credit card transaction. Instead of using your credit card to make a purchase, you can choose to take out a cash advance, and essentially borrow physical money from your credit card provider. The problem with these types of loans is that you’re charged a high fee for using the service. Typically, this is around 3% of the amount you withdraw, and then you’re charged the normal interest rate on the balance itself, so it really adds up.

But there are other short term loans that are often referred to as cash advance loans that can work out cheaper. These include title loans, pawn loans, debit card and signature loans, as well as payday loans. Some of these options require you to have collateral, such as pawn loans and title loans, but with a payday cash advance loan, you don’t need to secure the loan against your assets. 

Payday loans are typically aimed at people with bad credit, so can seem more expensive than traditional personal loans, though they can be cheaper than credit card cash advances - it's always a good idea to compare interest rates. You also need to keep in mind that you only pay back interest for the time you have the loan, so may only end up paying interest for a few days or weeks. 

Do You Require a Bank Account For a Personal Loan?

The simple answer is no - you don’t need a checking account to borrow money. As discussed, finding a loan without a bank account can be more tricky, but there are options available. The most common type of loan you can get without a checking account is a payday loan. Payday loans are sometimes referred to as cash advance loans, as they work in a similar way. 

So if you’re looking for a payday loan with no checking account, many bad credit loans don’t require you to have a bank account. Some lenders will let you pick up and then repay the funds in cash, while others will put the money on a prepaid debit card.

Payday Loans Without Checking Account Requirements

Payday loans are an easy way to borrow a few hundred dollars when you need cash to cover any emergency costs. You can then repay the money when you next get your paycheck. With installment loans, which are another type of short term loan, you need to make monthly repayments as they’re typically for larger amounts. A mortgage is a type of installment loan, for instance. But with a payday loan, you would just be making one full repayment at the end of the loan term. 

When it comes to payday loans without checking account requirements, you can borrow between $500 and $5000 with Find Me A Loan Today. Even if you have a low credit score or poor credit history, we can help you find a direct lender that can lend you the money you need. In terms of credit checking, most payday lenders don’t just rely on your credit report to make a loan decision - they’ll also consider things like your employment history. 

To find a no checking account payday loan with Find Me A Loan Today, you simply need to be at least 18 years old, a US resident, and work either full time or part time. Our short loan request form is easy to complete - just choose the amount you want to borrow and the loan terms, and enter some personal information, and you’ll have a loan decision within minutes. If approved, you can have the funds you need the next working day after approval.