1 Hour No Bank Account Cash Loan

In tough economic times such as these, emergencies may arise which require you to take a harder look at getting a fast cash loan, even if it means high interest charges. Finding a payday loan company that suits your needs and circumstances is essential.

- Choose a loan company that is in a convenient location. The last thing you need is any added reluctance to visit when the time comes to pay back the loan.
- If you choose to go with an online payday advance company, do a full check up on the site to verify it is a legitimate business. Beware of scammer’s mimics and identity thieves.

The general process for receiving a 1 hour cash advance is fairly standard:

- Upon arrival, fill out an application form. The form usually requires you to indicate when you will be receiving your next paycheck and your loan payment will probably be due on that date.
- The company usually does not run a credit report, but a few do. If this is of concern to you, be sure to ask ahead of time.
- You must provide some sort of verification of income (check stub, etc.) along with a verification of identity (driver’s license, etc.).
- When these documents have been received along with your application, you will receive the money (it is not necessary to have a bank account, the loan can be given to you in cash).
- On the date your payment is due, it must be paid in full, including interest. If you do not have a bank account, you will not have the option of writing a post-dated check for the amount of the loan, so keep in mind that you will have to pay it back in person and in cash. Remember that interest continues to accumulate at a rapid rate until the loan is completely paid off.

Availability:

- One Hour Cash Advance: age 18+, steady source of income (employment information not always required), usually no credit check, no requirement to have a bank account, transactions can be made in cash. To obtain the loan you have the option of applying online and you are promised your money in as little as one hour.
- Traditional Bank Loan: 18+, must meet minimum credit requirements, must meet income requirements, financial history is examined (credit check, etc.), usually you are required to have a bank account, transactions tend to be too much to handle all in cash. To obtain the loan you usually must visit your local branch and go through a much longer process than is required for a one hour cash advance. It typically takes anywhere between a few hours to a few days get an approval, and an hour or two to complete all the necessary paperwork.

Length of Loan:

- One Hour Cash Advance: Designed to be a short-term loan, usually require repayment within a month or by your next paycheck (this is where the term “payday loan” comes from).
- Traditional Bank Loan: Typically designed to be a long-term loan, with the banks making money off the loans by charging interest on all money borrowed; you make payments of X number of dollars at interest rate X until the loan is paid off in full.

Loan Amount:

- One Hour Cash Advance: Consumer chooses loan amount, usually up to $1000.
- Traditional Bank Loan: Consumer chooses loan amount, usually $1500 minimum.

Know your options, stay informed and make the choice based on your financial needs.