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Easy Lending - your fastest payday loans lender
Payday loans from 100 to 1000 pounds

Getting a Payday Loan without Having a Bank Account

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There are a few options for accessing a payday loan without having a cheque account. Holding a savings account can qualify a potential borrower for a loan if the lender offers loans based on crediting and debiting of such an account. It is worth checking with the bank to ensure they allow this and a good lender will work with the bank on the borrowers behalf to make this possible.

Another option is to open a basic bank account with a local bank though some payday loan companies require a bank account to be at least ninety days old.

Borrowers who do not have any of these options may be able to access a loan through finding a guarantor who will take on the responsibility of the loan should they default and will sign it on their behalf. This is usually a family member or friend.

Services like payday loans with no direct deposit exist for those without bank account access. Proof of income such as recent payslips is required and after filling out the application form with relevant details the claim is processed. Decisions are usually made quickly and the loan is given either in cash or a prepaid card. Repayment involves cash or money order payments. Some companies have been known to use items such as cars as collateral, holding onto registration documents until the loan is repaid.

It is worth mentioning that getting a payday loan without having access to a bank account does cost more than borrowing with an account. Interest rates are higher so this really should be considered as just a short-term solution.

Our Advantages

1. Quick Payday Loan
    100% Online!

2. Minimal Requirements
    No Credit Check
    No hidden Fees
    No Faxing!

3. Fast Cash Advanced
    up to £1000

What Is A Payday Loan?

The thought of taking out a short-term high interest loan can fill many people with fear and dread. Misconceived images of loan sharks banging at the door demanding money, can put most people off the thought of loaning money from anywhere but the local bank. Horror stories of inflated interest rates and re-mortgaging homes to settle debts leave people refusing to contemplate the idea of taking out a payday loan. And yet these interim loans, when provided by a reputable company, are both a useful stopgap and completely legal.

So what exactly is a payday loan? In simple terms, it is a short-term cash advance, for those awkward times when there is too much month left and not enough money. Poor budgeting skills or unexpected bills can leave people short of cash for essentials and unable to fulfil their financial obligations. Payday loan companies can front the money that their client will receive in their next pay cheque. Once the pay cheque comes in, the amount borrowed is repaid plus interest and any relevant fees.

There are no restrictions on what the loan is to be used for as personal financial circumstances are regarded as the loan applicants own business. The only criteria for loan acceptance are the ability to pay back the amount borrowed.