Taking a payday advance without direct deposit is an option that many of you would like to choose. This option is suitable for those of you who do not wish to give your bank account number to the payday loan company. It is also a good option for you to take a cash advance if you do not have a bank account. Most companies give you a cash advance only if you have a checking account so that they can deposit the cash into the account directly. But you can also find many companies that can give you a loan till payday without such a requirement.
When you are taking a payday advance without direct deposit, you should find out everything there is to know about the company and their terms and conditions. It is very easy to find a company on the internet and apply to it immediately. This is because you can get their application form online and it takes just a few minutes to complete it and submit it. But it would be advisable for you to first check out as many companies as you can before you decide on one.
A payday advance without direct deposit can be convenient for many of you. You do not have to reveal your bank account number if you don't want to. The lender will give you a check with the loan amount instead of depositing into your account. This may seem to be a convenient option but you have to be very careful when choosing your payday loan provider.
Since this type of payday loan may carry some risks for the lender, they may charge higher fees and interest rates than for a regular cash advance. This is why you should compare many companies to see which one is offering the lowest and the best rates. It is better to choose a company which answers all your questions promptly about any issue.
What You Should Ask Your Lender
Some things you should definitely check up on are the fee amount and the interest rates they charge. You should know what the charges are if you default on your payment or if your check bounces. Most of the time you can renew your loan so you should know how much interest will be charged on a renewal. You need to check what the maximum period is to repay your loan. Once you have all your information, you can choose your payday loan provider.