In the world of payday loans, there are two major types you can apply for. The most well known come from various in-store pavilions that act and look much like banks. The second and fast-growing segment of the payday loan industry is based online. Using the online type, you fill out a form and the payday loan that you applied for is direct deposited to your checking account in a matter of days.
It is very easy and doesn’t even require you to have to leave home to get one! Some of these sites require you to send a fax to them which shows your most recent pay stub, but some do not. There are many payday loans that do not require you to fax your information, but do require direct deposit. All you have to do is search for them with a popular search engine and you will likely have your choice of dozens!
There is a cost to use these sites, however. Some of these sites may charge a processing fee that has to be paid either when you get your loan or when you pay it back on the agreed date. While these fees can be a unfavorable to some people, when you compare these fees to the fees that banks charge for overdraft protection, insufficient funds charges and other annoying fees, you will see that this can actually be a smart financial decision.
These loans should be used to help pay for bills, rent, or other necessities, not for splurging on items that you don’t really need. With responsible usage, getting payday loans from a no fax, direct deposit required website is a great deal!