FAQ: How does a cash advance, or payday loan, work?
Once approved, your payday loan is electronically deposited into your checking account the next business day. When you come due, you can either pay the full amount of your online cash advance loan, or any amount equal to or greater than your minimum payment. All payments are made online and are automatically withdrawn from your account on your due date. There is no need for you to ever leave the privacy of your home or office.
FAQ: How much can I borrow for an online payday loan?
You can get $100, $200, or $300 for your first online cash advance, and up to $600 in the future. (As long as you qualify for a higher payday loan at that time.)
FAQ: How much does it cost for an online cash advance or no credit check loans online?
The fee for a check advance is 25% of the amount borrowed, so for a $100 loan, the fee is $25, or $125 total due.
Remember, your first loan with us is free as long as it is paid in full on your due date.
FAQ: How does the free payday loan work?
Every new customer is eligible for a free payday loan or cash advance. The loan is free as long as you pay the full balance due (the amount that you borrowed) on your due date. If you decide not to pay in full, the 25% loan fee will be added to whatever balance remains.
FAQ: How long does it take for me to get the money?
If your online cash advance application is approved, it will only take one business day for the money to be directly deposited into your checking account. Most of our no credit check loans are approved within 24 hours. If you apply prior to the 2:00 PM EST processing deadline, funds could be available to you tomorrow! Please remember, we do not operate on the weekends or national holidays.
FAQ: What are your business hours?
Our hours of operation are Monday through Friday, 9:00 AM EST to 5:00 PM EST. We are not open on federal holidays. However, you may apply online for a free payday loan or cash advance at anytime during the day.
FAQ: What do I need to get a personal loan?
All you need is a checking account open for at least one month with no bounced checks, a steady job making at least $1,000 a month, and not more than one other payday loan or cash advance with any other lender.
FAQ: How long is the loan for?
This is an online cash advance, therefore your due date is based on your next payday (up to 16 days away). If you get paid twice a month, you will be due on your very next payday. If that date is less than 5 days away, we will use your next payday up to 16 days total.
FAQ: How long should I have the loan for?
These are short term loans designed to help you with an urgent situation. All payday loans, cash advances, no credit check loans and check advances should be paid back rapidly, and not used for an extended amount of time.
FAQ: What do I do if I do not have a fax machine and I am requested to fax something to you?
If you do not have a fax machine, you can visit a local Kinkos or UPS Store in order to send your fax. Follow these links to find the store nearest you:
Kinkos Store Finder
UPS Store Finder
FAQ: How much will be withdrawn when my payday loan comes due?
The full amount due will be withdrawn unless you choose to make a payment. For example, if the loan is $100, and it is your first loan with us, $100 will be withdrawn on your payday/due date unless you want to make a partial payment. The 25% fee will be added to the amount left over.
If it is not your first loan and you borrow $100, $125 will be withdrawn on your payday/due date, unless you make a partial payment. In that case, at least $25 will be withdrawn, as $25 is the minimum payment allowed.
Remember, if you are paid once a month, you are required to pay in full.
FAQ: Will I be approved?
Most people are approved for our payday loans, unless you have bounced checks or are not currently employed. Once you are approved you can use the money to pay your bills.
FAQ: Can I make a Payment on my payday loan?
If you are paid once a month, you will be required to pay the loan in full on the date due, which is your payday. However, if you are paid MORE than once a month, we do offer a payment option on our cash advances.
FAQ: When can I make a payment on my loan? When is my payment request due?
You may submit a payment request at anytime before your payment request deadline (which is 2:00 PM EST the business day before you are due.) No matter how early you submit the payment request, the payment will never post until your due date, which is your payday.
FAQ: How do I change my banking information before my next payment or new loan?
You may change your banking information by faxing in a copy of a voided check from the new account, a copy of your bank statement from the new account, and the Change of Banking Information EFT form. This form may be downloaded on our site here , or we can email or fax it to you, at your request.
Remember, if you need the information to be updated before your next payment, please make sure this is sent in to us before your payment request deadline.
FAQ: How do I make a Payment on my Loan?
It's easy. Just visit our website and click on "Pay on Current Loan" at the top of the page. From there, log in, using your social security number and password that you set up on the original application.
Once you log in, you will see your payment request deadline reminder as well as your current due date. Just follow the 3 easy steps.
* Remember, if you are paid monthly you will only see a reminder that your full amount due will be withdrawn on your due date.
Step 1 - Select a Payment: You will make your selection from the options to either pay the loan in full, pay the minimum payment, or to pay another amount (as long as it is above the minimum).
In this same section, you will see your current loan information including your principal amount, total amount due, your minimum payment required, and your fee rate (which will be 25% for any remaining balance).
Step 2 - Enter Check Number: If you choose to make a partial payment, you will be asked to enter the next check number in your register.
Step 3 - Enter Your Next Payday: If you choose to make a partial payment, we will need to know your next payday. Your next payday may not be less than 14 days or more than 16 days away. The calendar will assist in selecting the correct date, based on your payday schedule on file.
Once you have filled out the payment request form, click the red "Submit Payment Request" button at the bottom and your payment request will be processed.
You will then generate a payment contract. You are not required to fax this contract in , but please print and save a copy for your records. Your new amount due, due date and principal amount will be shown on this contract. The "maturity date" is your new due date. The "effective date" is your current due date (which you just refinanced for).
The following table provides examples of the cost to obtain a payday loan or online cash advance. The APRs are based on example loan terms of one payment ("Check Amount") due in 16, 14, and 7 days. The APR will increase if the actual loan term is shorter than these examples.
| LOAN AMOUNT (Amount Financed) |
LOAN TERM: 1 PAYMENT (# of Days) |
LOAN FEE (Finance Charge) |
CHECK AMOUNT (Total of Payments) |
APR |
| $100.00 | 16 | $25.00 | $125.00 | 506.94% |
| $100.00 | 14 | $25.00 | $125.00 | 651.79% |
| $100.00 | 7 | $25.00 | $125.00 | 1303.57% |
| $200.00 | 16 | $50.00 | $250.00 | 506.94% |
| $200.00 | 14 | $50.00 | $250.00 | 651.79% |
| $200.00 | 7 | $50.00 | $250.00 | 1303.57% |
| $300.00 | 16 | $75.00 | $375.00 | 506.94% |
| $300.00 | 14 | $75.00 | $375.00 | 651.79% |
| $300.00 | 7 | $75.00 | $375.00 | 1303.57% |
This service does not constitute an offer or solicitation for short-term loans in all states. This service may or may not be available in your particular state. The states this site services may change from time to time without notice. All aspects and transactions on this site will be deemed to have taken place in our office in Costa Rica, regardless of where you may be viewing or accessing this site. Borrower is responsible for complying with any local statutory obligations that may exist in their state or area with respect to any transactions with Nationalpayday.com