How It Works

What is a Payday Loan or Online Payday Advance and How Do They Work?

What is a payday loan or online payday advance?
How does a payday loan or online payday advance work?
- In our stores
- Receive cash online
The choice is up to you

What is a payday loan or online payday advance?

A payday loan or payday advance is a small, short-term loan ranging from $100 to $800 (based on income and state of residence) offered by a payday lender, such as Check Into Cash. A payday loan is typically used as a cash advance until your next payday.

Payday loans help cover unexpected expenses that come up between paydays. A payday advance can solve temporary cash-flow problems without bouncing a check with another merchant or incurring late payment penalties from other creditors. And a payday cash advance often is less expensive than many alternatives. Below are examples of costlier alternatives* to a typical 14 day cash advance payday loan of $100 with a $15 fee and an APR of 391%.

Payday Advance vs. The Alternatives

Based on a 14-day loan term.

$100 Advance with $15 fee = 391% APR

	$100 Credit Card Balance with $37 late fee = 965% APR
	$100 Utility Bill with $46 late/ reconnect fees = 1,203% APR
	$100 Bounced Check with $54 NSF/Merchant fee = 965% APR

* Other costlier alternatives to a typical 14 day payday advance were obtained from CFSA.net and bankrate.com. APR was calculated by taking the fee dividing it by the 14 day loan period and then multiplying it by 365 days.

A payday advance fills a need not met by most banks or other financial institutions. And getting a payday loan or payday advance from Check Into Cash is easy; and there is no lengthy waiting period. All you need is a photo ID, a current bank statement and proof of income*. Check Into Cash takes care of the rest.

*Oklahoma and Indiana residents must bring proof of a Social Security Number

How does a payday loan or online payday advance work?

In Our Stores

To receive your payday advance in one of our over 1,100 centers nationwide,

Simply write a personal check for the amount of cash you want, plus the payday fee.
Check Into Cash will hold that check until your next payday.
At that time, come in and pay off the payday advance in person.

Unlike some of our competitors, Check Into Cash does not typically force deposit the check you wrote (unless required by state law.)

Receive Cash Online

Simply fill out our short online application located at Loan By Phone.com
Funds will be deposited into your account the next business day.**
Your payment will be debited electronically (ACH) from your active checking account on the date your payment is due.

The Choice is Up to You

If for any reason, you change your mind about getting a payday loan or online payday advance, you have up until the close of business the following day to rescind your payday loan transaction, at absolutely no cost to you.

So the next time an unplanned expense comes up, remember a payday loan from a trusted payday lender like Check Into Cash can give you the cash you need until payday. It's easy as one, two, three... and it's QUICK, EASY & CONFIDENTIAL®.

Note: Terms, fees, and repayment schedules vary by state and as required by law.
** The funding process typically occurs within 24 hours or the next business day. Loan requests process before 7PM ET during a non holiday business day are funded on the next business day. For example, a loan request received Monday before 7PM ET that is verified and approved by Check Into Cash, will receive the loan proceeds on Tuesday (if Tuesday is not a holiday).