Instant Cash AdvanceWhen you are in need of some quick cash and your payday is far off, an instant cash advance can be just the thing you need. An instant cash advance can be done over the Internet, and all your information will be processed quickly. You will be contacted by phone or by e-mail in order to finish the cash advance process. For those that are eligible for an instant cash advance, the money from the loan should be deposited into your checking account that very day, and you may have access to the cash the next business day. Also, for an additional fee, there are many cash advance companies that can wire the funds directly to your bank. If this happens, you should fully be aware of the policies of your bank regarding wire transactions. The fees for wire transactions may be higher than you think.
Instant Cash Advance Amounts
One of the advantages for getting an instant cash advance is that there are a lot of loan amounts that you have the possibility of obtaining. Most instant cash advance lenders will offer amounts that range between $100 and $1,500. The amount of money that you receive will depend on factors, such as how much you make at your current job and other various requirements of the cash advance company.
When Will The Money Be In My Checking Account?
With most instant cash advance companies, you can expect to have the funds available to you in 24 hours, generally on the next business day. If you need money sooner than that, then there are many instant cash advance companies that offer to wire the money directly to your bank in only a few hours. However, you should check on the fees for this service with your bank. You will not only be charged the original cash advance fee, but also a fee for the wire transfer, from the cash advance company and maybe your bank. If you are in a real financial bind, then these fees may be worth it if you really need the money quickly.
Will The Instant Cash Advance Lender Run A Credit Check?
One of the main advantages of an instant cash advance is the fact that most lenders do not run credit checks on their customers. This is one of the main reasons why people use a cash advance company. It should be very easy to obtain an instant cash advance, as long as you meet the requirements of the cash advance company, such as being at least 18 years of age, are employed, have an active checking account, an ID card issued by the government, and earn a certain amount of money each month.
When Will An Instant Cash Advance Need To Be Paid Off?
The timeframe for paying back an instant cash advance varies. However, the timeframe is usually 14 days. An instant cash advance is an advance on the next paycheck that you receive. There are some instant cash advance companies that allow 14, 21, or 28 days to pay back the cash advance. After the time that the company has set to pay back the cash advance, you have to pay it back in full. If you are not able to pay back the full amount, many cash advance companies will allow you to pay just the fee, and then give you an extension on the loan. Many cash advance lenders will do this automatically, but you have to check with the one that you use to see if this service is available to you.
Who Can Get An Instant Cash Advance?
Most people that meet the minimum requirements from the instant cash advance company will be eligible to obtain one. Considering that obtaining a cash advance is fast and relatively simple to obtain, there are a lot of people that will try to get an instant cash advance when they need cash and need it fast. When there is an offer of a guaranteed cash payment, the high fees are not a problem for many people. When an emergency happens and you do not have the cash to cover the costs, then an instant cash advance may be just what you need to get you through a tough situation.
Instant Cash Advance Interest Rates
When obtaining an instant cash advance, you will then repay the company with a fee, rather than an interest rate that banks typically use. Different cash advance companies will offer their customers various financial fees. Because of this, it is advantageous that you shop around for the lender that will best be able to take care of your cash advance needs. The fees will be for a specific limit of time, which is generally 14 days. However, this will depend on the needs of the cash advance lender, so the limit can be extended. One basic rule is that the longer you borrow money, the higher the fee will be. When the loan term of the cash advance comes to an end and the cash advance rolls over, there is a new fee that is incurred. Fees are higher when they are looked at as Annual Percentage Rates (APR); therefore, if you borrow $100 and the fee is $15, the APR will equal 391.07%.
Restrictions For Instant Cash Advances
One more reason to look into obtaining an instant cash advance is that, in most cases, there is no restriction on what you can use the money for.
Multiple Instant Cash Advances
Many borrowers think they can obtain multiple cash advances through the same company. It is totally up to the lender if they want to give more than one cash advance at a time to the same person. There are many cash advance companies that will allow this, while others will not. You should check with the cash advance company beforehand, so you can fully understand their policies regarding multiple cash advances.