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How do I get a Faxless Cash Advance?

Article Details
  • Written By: Carol Francois
  • Edited By: Bronwyn Harris
  • Last Modified Date: 09 October 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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A faxless cash advance is also known as an Internet cash advance. A cash advance or payday loan is a form of short-term financing that is based on your current employment and not your credit history. This type of financing is very expensive, as the interest rates charged are quite high.

In order to qualify for a cash advance, you must be over 18 years of age, have been employed for at least six months by the same company and have a stable address. The cash advance or loan is provided based on the income from your next paycheck. There are three requirements to a faxless cash advance: online banking, employment and direct deposit payroll.

Online banking is access to your bank account information via the Internet. This service is offered by all banks and credit unions. The account holder enters their user name and password on the banks website. Features of a banking website include the ability to pay bills, transfer funds and view account activity.

In order to obtain a faxless cash advance, you must follow three steps: find an Internet-based cash advance firm, complete the application form and provide the user name and password for your bank account. This information is typically provided using an Internet form or via the telephone. Keep in mind that providing your banking information this way voids all fraud protection coverage provided by your bank.

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Use a search engine to find Internet-based cash advance companies. Take care to select a company with a physical location in your state. Review the details of the company and then complete the application form in order to get a faxless cash advance. Make sure that the web form is secured before completing it by looking for a lock icon in the address bar of your browser.

The company uses the banking transactions report to confirm that your payroll is deposited into your account. They will also confirm the date you are paid and your bank account information. The loan will be deposited into this account and then the payment with be withdrawn on your payday.

Reduce your exposure by changing your password immediately after the loan is approved. Remember to check all your financial transactions to ensure that no funds were transferred to another account or withdrawn. Reconcile your accounts carefully for the next three months to ensure that your account is secured.

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