How do I get a Online Cash Advance?

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  • Written By: Carol Francois
  • Edited By: Bronwyn Harris
  • Last Modified Date: 22 January 2020
  • Copyright Protected:
    Conjecture Corporation
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An online cash advance is a short-term loan that is provided based on your employment income by an Internet based cash advance company. The total amount of the loan, plus the interest, is due on your next payday. The requirements for an online cash advance are quite different from a standard personal loan from a financial institution.

To qualify for an online cash advance, you will need to have Internet banking. This type of banking allows you to access your bank account over the Internet. You must be receiving your payroll through direct deposit, which is a service provide by your employers bank. Instead of having a payroll check to deposit, the net amount of your pay is deposited in your bank account at 12:01 am each payday.

In order to obtain an online cash advance, you must first find an online cash advance or payday loan companies website. Complete the application form, with details about yourself, your net pay, your employer, and the amount of your loan request. There is a legal statement at the end of the form regarding the accuracy of the information you have provided and an explanation about the interest rate on the loan. Read this section carefully and then click on the box to signal your acceptance of these terms.


Companies that provide this type of loan have two possible methods of completing the loan request: faxless or paper verification. In a faxless loan, you need to provide your online banking website, account number, and password. The finance company will go into your bank account, confirm the direct deposit of your payroll, and check for any other payday loans.

In a paper verification loan, the finance company asks for a faxed copy of your last two pay statements, 60 days of banking transactions, a copy of photo identification and a voided check from the bank where your payroll is deposited. You will have to complete a paper form, sign, and date and return it as part of your loan agreement. Once the information has been confirmed, your loan will be approved and the funds will be deposited in your bank account on the same day.

A cash advance is a very expensive form of financing, with annual interest rates ranging between 35 to 65%. Additional finance, application, or processing fees can be added to the interest amount, raising the cost of the loan even further. If you decide to take out this type of loan, try to make it a short-term arrangement.



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