We’ve all been there, it’s a few days away from payday, budget is fine everything is nice and dandy when suddenly SMASH! Unexpected expense slaps you right across the face, unannounced, and uninvited.
It could be a birthday, car expense, a bill you forgot about, or anything in between.
You can’t just saunter into the bank for a $200 dollar loan, so what do you do? Well, you could get a loan from a friend or family member, but if you’re pride doesn’t allow for that, and you need this money right now, so you’re going to need to hit up a payday loan.
You can apply for payday loans online same day and get the money you need, almost instantly. But, before you look into payday loans with same day deposit, take a look at the following information.
Can I Get a Payday Loans the Same Day with No Credit Check?
Great question, and the answer is equally as fantastic; you can get payday loans the same day with no credit check. If you have a low credit score, banks are likely going to turn you away instantly. But, most payday lenders don’t.
In fact, in many cases, the lenders aren’t even going to check your score.
They just give you your money, in many cases, the same day, and you pay it back next time you get paid. It’s really simple. All you have to do is fill in an online form, check your bank balance, and your payday loan should be in your account within a few hours the very same day.
Are Instant Same Day Payday Loans Always Instant?
No, not quite. It’s not an entirely automated process, unfortunately. It does still need to go through a human. We are dealing with money, after all.
That being said, there’s nothing to fret about, because it isn’t going to take too long to get your payday loan. Often the money ends up in your account the very same day you apply for it, and if not, it definitely should be the day after.
Are Instant Same Day Payday Loans from Direct Lenders Guaranteed?
This is a common misconception that a payday loan is guaranteed, thanks in no small part to how easy it is to get them. While it is very easy to successfully apply for one and get your payday loans online the same day, it is not guaranteed. Like any loan out there, there are certain red flags that are going to put off lenders immediately.
This stems from the fact that they don’t check your credit, meaning they’re relying on other methods to assess whether or not they can loan you money. The main checks they do include ensuring you have an active bank account, confirming your status of employment, making sure that the address you gave them is legitimate, and checking how much you get paid on a regular basis, be that weekly, bi-weekly, or monthly.
There is also the odd chance that a lender is going to run a soft credit check on you. While this isn’t going to show up in your credit report, it can help them quickly get a feel for how you’re doing financially, and if they really don’t like what they see, then they’re going to consider refusing you the loan.
That is very rare, though, and worst-case scenario. More often than not, there are no issues or complications, and your loan is approved as soon as possible.
How Do Payday Loans with Same Day Deposit Work?
Consider this: the reason that banks don’t give loans to people with bad credit scores is because of the amount of money involved. This amount of money is not present with payday loans.
While banks deal in the thousands, payday money lenders deal in the hundreds, often on the lower side of that margin, meaning both the risk and the chance that you can’t pay back the loan, are both very small.
For example, say it’s the last Monday of the month before you get paid, your bank account is looking grim, but you’re getting by. Then you start to feel quite sick, and a bad pain comes on all of a sudden. You don’t want to miss work, so you go to the doctor, and he prescribes you some antibiotics and painkillers, altogether the whole ordeal costs you $250 dollars, which you don’t have.
So what do you do? Well, you can apply for a payday loan for said $250 dollars online. That $250 dollars should be no problem given that you are getting paid what is likely four digits at the end of the week. You fill out the form, and the money is in your account in a few hours.
Then payday rolls around, and you repay the $250 dollars, plus any interest.
That’s why it’s called a payday loan. It’s short term and is paid back the very next time you get paid.
What Are Same Day Payday Loans from A Direct Lender?
For those unaware, there are two types of payday lenders out there. There are organizations that offer the service as a broker, and there are direct lenders that are going to deal with you personally.
The primary difference between the two is that brokers charge lenders a fee for the service, so there are less of them out there. Don’t worry, though, it doesn’t cost you anything extra.
In fact, 99% of payday lenders on the market today are either direct lenders, or a matching service like us.
There may be a misconception that a direct lender is an individual of some sort, but this is not the case. Most online same day payday loan companies out there are direct lenders, so you don’t have to worry about looking around trying to find one. Especially since you’re on this site, where we can compare and match dozens of lenders online for you to try and find your best options in an instant.
In fact, using a matching service saves you time, and increases your chances of getting a loan, as you don’t have to waste energy applying to different lenders, just fill in our form and chances are that one of the dozens of lenders we work with are going to agree to grant you a loan, even with bad credit.
Is There Anything Stopping Me from Getting a Payday Loan?
Of course, there are the requirements that were mentioned earlier — a real address, an active bank account, regular wages, and so on. But there are a few other things to be aware of.
If you’re applying for a loan from an American organization, you need to either be a citizen, or a permanent resident, of the states. Aside from that, you need to be 18.
This doesn’t mean you need to go digging through the yellow pages to find a lender that you can borrow from, though. Just google “payday loan” followed by your country, and the search engine should give you a list of local companies.
Get a Same Day Loan, Today
That’s all there is to it. It really is as simple as going online and filling in a quick and easy form. It is short term, low risk, and super handy. The loans can help you out of all sorts of sticky situations, from car repairs to medical to birthdays and events. The best payday loan you can get is one that gives you the money the same day, and doesn’t charge too much interest, so look for those two factors while you’re shopping around. Next time you’re in a bind, consider applying for an online payday loan to help dig yourself out of the hole.