In order to obtain a payday loan, one must have a bank account, must be over 18 years and must have an income of at least $1000 per month.

Can I get a payday loan without a checking account?

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In order to obtain a payday loan, one must have a bank account, must be over 18 years and must have an income of at least $1000 per month. The payday loan industry can not work without checking accounts. When you receive the loan, you never get direct cash from anyone. It is either directly deposited into your checking account or you receive a check for the amount of the loan.

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Yes, you can. You may get a secured payday loan; this means that you have to put up collateral in order to obtain the loan. The collateral could be anything, like gold, car or something equivalent to the value of the loan. If you fail to pay back the secured loan, you run the risk of losing the collateral.

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Payday loans are mostly available without a credit check and most loan companies need an active checking account to withdraw and deposit funds. Even if you do not have a checking account, there are ways to obtain fund. Payday loans require consistent employment and income. You may make copies of your paycheck stub and present it to the loan company.


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