Payday Loan Requirements
What do you need to get a payday loan? The following are cash advance requirements:
- Meet minimum age requirements (18 in most states)
- Valid ID
- Proof of steady income
- Open and active checking account
- Working phone number
What do you need to get a payday loan online?
A payday loan can help you get the cash you need to cover life's unexpected expenses. If you choose to apply for a payday loan online, you will typically need to enter the following information:
- Personal information including your full name, address, phone number, Social Security Number, and a valid ID number
- Income information including your income type, employer information (if applicable), your pay frequency, and your income amount (some states may require income verification, in which you will need to submit a payment stub or copy of a bank statement)
- Banking information including your checking account number and routing number (this is used not only for loan repayment, but also to get your payday loan money to you)
- Card information is sometimes collected if you choose to repay your payday loan using a debit card rather than an ACH payment
What do you need to get a payday loan in store?
Payday loan requirements are basically the same to apply in store and online. The main difference is that you will provide a post-dated check for repayment, as opposed to providing your bank account information. Some payday loan stores may offer the option for automatic payment via bank transfer or debit card.
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