Questions
1. What is a payday loan?
2. What are the requirements for a payday loan?
3. How do I get a payday loan quickly and easily?
4. How long do I have to pay back the payday loan?
5. How do I receive my funds?
6. How quickly can I receive my funds?
7. What hours is this service available?
8. How do bank holidays affect my receiving funds?
9. How much money can I borrow?
10. What are the fees for the payday loan?
11. What if I do not get approved by the lender I am matched with?
12. What if my application is not matched with a lender at all?
13. What if I only have a savings account and not a checking account?
14. What if I have a fixed income such as social security or retirement pension?
15. What if I do not have a driver’s license or State ID?
16. Does this company perform a credit check?
17. Will I need to fax any information to obtain this payday loan?
18. I am ready to get a payday loan/cash advance – Where do I apply?
19. I still have additional questions. How can I contact a loan representative?
A payday loan is a small unsecured loan, usually for $100 to $1,500, which is designed to meet your short term financial needs until your next payday.
Payday loans are also known as a cash advance, a short term loan, payday advances, cash loans, fast cash, fast loans, bad credit loans, deferred deposit, and a number of other things. No matter what you call them, payday loans can get you through your financial crisis.
2minutePayday.com is here to help you find a payday loan lender. We present your completed application to our vast network of lenders in order to find a lender that is most likely to approve your loan. By searching for a payday loan through 2minutePayday.com, you can rest assured that your application has been reviewed by the leaders in the payday loan industry.
What are the requirements for a payday loan?
- You must be at least 18 years of age and a U.S. Citizen
- You must have a job (or other source of steady income, i.e., pension, social security, etc.)
- You must have an active, open bank account
- You must make at least $1,000 NET income per month (after tax)
- Other requirements may apply depending on the individual lender.
To be approved for a loan, you need to meet the minimum requirements of the specific lender with whom you are connected. The individual lender will evaluate your application and determine whether you are eligible based on its OWN set of approval criteria. Factors such as income, direct deposit of your pay, past payday loan history and state of residence may affect the approval of your payday loan.
If your application is accepted by a lender in our vast network, your assigned lender may contact you directly and ask for additional information in order to approve your application. Payday lenders utilize proprietary criteria to evaluate applicants and will approve your loan when your application matches their specific criteria.
In order to increase your chances of getting matched with a lender and ultimately approved for a payday loan, please be sure to fill out our application with honest, verifiable information. For example, entering a cell phone number instead of a home phone number makes it more difficult to verify your information and many lenders will not accept applications that cannot be verified. Entering the incorrect amount of income is one of the largest reasons people get denied. Make sure you enter what is asked for (net versus gross income) and be honest. Entering the incorrect amount will send your application to the wrong lender and you won’t be approved. We do our best to match you with a lender, but unfortunately there’s no guarantee that your loan application will be accepted.
How do I get a payday loan quickly and easily?
All you have to do is simply complete the online application and submit it from our web site and we will attempt to connect you to a lender online within seconds.
If you are matched with one of our lenders, you may be required to electronically sign and agree to the terms of the loan agreement. However, there is no obligation to accept the loan. If you are not satisfied with the terms of the loan, simply do not sign it, and apply again to find a different lender.
Typically your payday loan will be electronically deposited into your bank account by the lender the very next business day. In most cases, you have the ability to choose the payment option provided by the lender that works best for you and may vary from lender to lender. All payments are processed by your lender by electronic transfer from your bank account.
How long do I have to pay back the payday loan?
Your payday loan is normally due on your next pay date; however, most lenders will allow you to extend your loan by paying a fee.
You typically have the following options:
- Do nothing and your loan will auto-refinance on a schedule set up by the lender
- Pay the loan off in full on your next pay day
- Renew the loan and pay the interest payment and fees only
- Renew the loan and pay interest as well as part of the principal
You should contact the lender you are matched with directly if you have specific repayment questions.
The payday loan/cash advance is wired directly into your bank account by your lender. 2minutePayday.com works with a network of lenders, some of which can have money deposited into your bank account in as little as 1 day!
How quickly can I receive my funds?
Payday lenders in our network typically process the loan application immediately so that your funds will be available in your bank account the following business day after the loan is approved. If you apply on a weekend or holiday, your funds will be sent to you by your lender the next available business day.
What hours is this service available?
We accept applications 24 hours a day, every day of the year.
However, once your application is provided to a lender in our network, sometimes its procedures require additional verification which can only be done during normal business hours. Please keep in mind that the lenders can only electronically deposit money into your bank account on days when your bank is open, and only on days that the lender is open.
You can submit your loan application to us anytime, 24 hours a day, and 7 days a week. However, since we only match you with lenders who are available to help you in real time, you may be more likely to find a lender during normal business hours (Monday – Friday 8 am – 5 pm EST) since not all lenders operate on weekends and holidays.
How do bank holidays affect my receiving funds?
The following bank holidays are observed by Federal Banks and their branches:
- New Years day
- Martin Luther King, Jr. Day
- Presidents Day
- Memorial Day
- Independence Day
- Labor Day
- Columbus Day
- Veterans Day
- Thanksgiving Day
- Christmas Day
For holidays that fall on Saturday, the Federal Reserve Banks and branches are open the preceding Friday. For holidays that fall on Sunday, Federal Reserve Banks and branches are closed the following Monday.
If your loan is approved on a weekend or bank holiday, typically your funds will be sent the next banking business day. You should contact the lender you are matched with directly to confirm when your money will be deposited and the ACH department of your bank to verify that the funds have been credited to your bank account.
2minutePayday.com will help you qualify for a payday loan ranging from $100 up to $1,500, based upon the information that you provide to us on the loan application. Your lender with which you are matched may offer you a loan anywhere within this range depending on your income, until you establish a payment history with them.
What are the fees for the payday loan?
2minutePayday.com works with a network of lenders whose payday loan/cash advance fees are among the lowest in the payday loan industry. The fees will vary depending on which lender you are matched with.
What if I do not get approved by the lender I am matched with?
2minutePayday.com works with a vast network of payday loan lenders; however, we cannot guarantee that you will receive the loan you need. We do our best to match your application with a lender likely to provide you with a loan. However, payday lenders utilize proprietary criteria to evaluate applicants and may not approve all accepted applicants.
2minutePayday.com is not involved in the loan approval process and, therefore, we do not have knowledge of the status of your loan. Please contact the lender you are matched with directly for your loan approval status.
If you do not get approved for a loan with the lender you were matched with, you may re-apply by going to the application page of this web site as we will attempt to match you with another lender.
What if my application is not matched with a lender at all?
2minutePayday.com works with a vast network of payday loan lenders; however, we cannot guarantee that we can find a lender for you. If you are not matched with a lender, here are a few suggestions to improve your changes if you choose to re-apply:
- Time of Day: Many lenders do not accept applications outside of normal business hours. You may want to re-apply during regular business hours – Monday through Friday, 8 a.m. to 5 p.m. EST.
- Direct Deposit: Many lenders favor customers whose paycheck is directly deposited into their bank account by their employers. If you do not have direct deposit, you can ask your employer to enroll you in their direct deposit program and then at that time, come back to our site and re-apply.
- Outstanding Payday Loans: Many lenders will not issue payday loans if you have too many other current loans outstanding. Once you have paid off your other loans, come back and re-apply.
What if I only have a savings account and not a checking account?
We have several lenders in our network that can qualify you for a loan even if you only have a savings account. Please contact your bank to get the routing number if you do not already know it. This is needed in order to electronically transfer the loan to your savings account.
What if I have a fixed income such as Social Security or Retirement Pension?
As long as you have a steady stream of income monthly, our lenders may be able to provide you with a loan. Enter your benefit provider as your Employer or simply write Retired. If you do not have the telephone number of your benefit provider, then you may enter your own telephone number. Enter the number of months you have been receiving benefits for the Months Employed field.
What if I do not have a driver’s license or State ID?
If you do not have a driver’s license or State issued ID, you may enter your social security number.
Does this company perform a credit check?
2minutePayday.com is not a lender. We do not perform any type of credit check. We try to match your application to lenders in our vast network in order to find the right loan for you. Most of our lenders do not do traditional credit checks; however, they may use various consumer databases, such as CLVerify, TeleTrack or DataX in order to verify your identity and review your past payday loan history.
Will I need to fax any information to obtain this payday loan?
No, the application process does not require faxed documentation. However, the specific lender with which you are matched may ask you to fax over certain information, such as a paystub, if they are unable to verify information provided on your loan application.
I am ready to get a payday loan/cash advance – Where do I apply?
You can go to our online loan application and sign up today.
Get An Instant Payday Loan Here
I still have additional questions. How can I contact a loan representative?
Once you are matched with a lender, you will receive emails and phone calls regarding your loan application. By working with only the leaders in the payday loan industry, your customer service agent will be available to answer any other questions you may have about your payday loan. Please contact your individual lender directly during their normal business hours of operation.
Advance Cash Online – an Internet Advantage
As the advent of technology continually progresses getting cash nowadays is a matter of connecting to the internet and a click away for an advance cash online type of loan. With just a few simple requirements the online loan method has made payday loans a straightforward task. The approval for advance cash online is generally fast and easy; you can be assured that your money will be deposited in your account in less than a day or so depending on the lending company.
Once your application has been finalized by the loan provider, you will basically fill up an online application. These are generally basic information such as your name, address and email id. Your driver’s license number and state number will also be needed. This information is also needed: employer’s name, address and the number of years or months that you have been employed and lastly your bank name and account number. When all the information is provided and verified the cash will immediately be in your account within 24 hours or less. This depends on which lending company you applied your advance cash online.
Make sure to do thorough researches before you apply for an advance cash online loan. Being careful always helps no matter how urgent you need the cash. Be careful as you may bump into one of those fake advance cash online sites that can some trouble. Be extremely cautious when giving your personal and financial information online. Again, a thorough research is a necessity in terms of these kinds of things. Bear in mind that the information that you present should be private. Loan providing company should follow loan laws and policies.
Online loan processing of applications is available in two ways. You have the option to pick the fax and no fax option. If you opt for the fax option, you are obliged to fax some information: picture id, driver’s license, bank record and pay slips. While the no-fax option, all you basically need is to fill up an online application. This verified via database. Whichever suits you best is up to you.