No Checking Account Cash Advances - Hard To Get?

Jan. 3, 2010 - PRLog -- Perhaps, your washer quits while your relatives are visiting for the week. Maybe your car needs an unexpected repair. Although you may have the funds to cover the emergency, you are forced to choose between repairing the washer and allowing a major bill to be paid late. If you have a major bill such as a car payment or rent, you have to carefully weigh your options.

Aurora Lillo Editor of the "Best Cash Advance Lenders" website -- http://www.BestCashAdvanceLenders.com -- pointed out;


“…When you are facing a financial emergency with limited monetary resources, you might have already considered getting a cash advance, also called payday loans, but you do not have a checking account. You understand that this type of loan provides money to people who need cash quickly. It is an unsecured, short term loan used to cover unexpected expenses. The funds are repaid when the customer receives his next paycheck. Obtaining a payday loan will help you cover unexpected expenses and allow you to pay your bills without getting assessed late fees and possibly blemishing your credit, but you are not sure you will qualify…”

In order to get a payday loan, lenders require certain minimum qualifications. Generally the following requirements must be met: applicants must be at least 18 years old and a U.S. citizen; they must have been employed for at least six months and meet the minimum income requirements (generally $1,000); and they must have an active checking account in good standing (this is the requirement that you do not meet).

Although most payday loan companies require applicants to have a checking account, some companies will approve your loan if you have a savings account. Consequently, the process for receiving a no checking account cash advance is the same process lenders use if you have a checking account except a savings account is used instead.

Lenders require bank accounts so that the funds can be electronically deposited and debited from the account. Typically, once you are approved for the loan, the funds are deposited into your account within 24 hours.
The only disadvantage to using a savings account to secure a loan is that some financial institutions do not allow electronic debits or credits into a savings account, but those instances do not occur frequently.

“…When you need cash quickly, consider a payday loan even if you do not have a checking account. Many lenders provide loans to customers using a savings account instead of a checking account….” added A. Lillo.

Further information and up to $1,000 instant approval payday loans regardless of your credit by visiting: http://www.BestCashAdvanceLenders.com