Instant Cash Advances – What Are They?

Instant Cash Advances – What Are They?

With instant cash advance loans, there is no need to wait weeks, months, or even years to receive your paycheck! If you apply for your loan from an online payday loan company, you will often be approved for a quick cash advance on the same day and get the cash deposited directly into your bank account the same day! The process is easy. All you require from you is some basic information to get accepted.

Instant cash advances can be handy for several different reasons, and not the least of which is when you need to make a few small purchases from online merchants that take credit cards. These merchants may allow instant payments through direct deposit to your bank account, but since these transactions incur ATM fees, it would not be a cost-effective way to pay for these items. With an instant advance from a direct deposit lender, you can make the purchase, pay the fees, and then have your funds deposited into your bank account!

Bank account and a direct deposit bank account

To qualify for an instant cash advance loan, you need to have a bank account and a direct deposit bank account. You cannot qualify if you do not currently have a checking account with a participating bank. For instant payday loans, you must also have active checking accounts with the same bank that you will be using to complete the loan.

Two additional methods can be used in addition to direct deposit and a working bank account to qualify for an advance. Some advanced providers offer an “e empowering” feature, which is an upgrade to their existing services. With an e empowering feature, users can add friends and family to their account, and in turn, have the same-day-payday-loan option as their friends and family.

Monthly Budget

This upgrade requires users to upgrade their existing service to “true” instant with fees, but it offers the same-day-payday cash advances as a traditional lender. When users sign up for an e empowering feature, they are given a unique code to enter their monthly budget. They may also choose a monthly payment amount, which will be applied to their bank account every month until the amount is depleted.

To apply for these loans, visit the website of one of the online cash advances lending companies. These companies generally require that you have good credit, a checking account that is accessible in cyberspace, and a job or some other type of income. Be sure to include these factors when filling out the online application forms. Once you submit your information, the company will process your application and let you know if you qualify for an instant cash advance. Once you have been approved, the company will debit your bank account on the date of your loan.