Payday Loan Requirements

Unsure if you meet the qualifications for a payday loan? Requirements to get a payday loan differ by lender and state. Generally speaking, the items you need to apply are consistent across all payday lenders.

  • Meet the age requirements in your state

    (18 in most states)

  • Valid government-issued photo ID
  • Open and active bank account
  • Steady source of income
  • Working phone number

Let’s Get More Specific

While specific requirements may vary by lender, it’s best to be armed with the following when applying for a payday loan.

Personal Information

  • Valid ID
  • Home address
  • Valid phone number
  • Email address

    (typically required for online payday loans)

Income Information

  • Pay cycle frequency
  • Income type
  • Employer name, address & phone

    (if applicable)

  • Net & gross income amounts

Banking Account Information

  • Post-dated check

    (typically used as a form of repayment when applying at a payday loan store)

  • Debit card

    (for optional automatic payment)

  • Checking account & routing numbers

    (frequently used for online payments, but also used to fund online payday loans)

Additional Payday Loan Requirements

Income Verification
Some payday lenders may also require you to provide income verification. This requires you to provide your most recent bank statement showing the last 30 days of activity. Most lenders provide you with different options to submit income verification such as by logging into your account and taking a screenshot of your account activity or by emailing or faxing your bank statement.
Account Verification
If you’re applying for a payday loan online, then the lender may have practices in place to verify or authenticate your account. These steps are intended to keep your personal and financial information secure and prevent identify theft. Lenders may require you to verify via phone, SMS, email, or with specific questions about past credit or public records.

Apply for a Payday Loan

Once you have your requirements ready you can start an application online anytime. Applying takes only minutes and is followed by an instant lending decision.

Apply Now

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Customer Notice:
There are a wide variety of loan products available in the marketplace, so your choice of lending products should match your financial needs. Small-dollar loans used over a long period of time can be expensive.

Subject to state regulations, eligibility, credit check, underwriting and approval. Rates, terms and conditions apply. Installment title loans subject to minimum auto value requirements. See associate for details. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision. Same day funding only available for Opt+ cardholders and in-store pickup. Minimum age to apply in Alabama is 19.

NOTICE: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the Consumer Financial Protection Bureau, 1700 G Street NW, Washington DC 20006 and the Federal Trade Commission, Equal Credit Opportunity, Washington DC 20580.

In Texas, Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party. Speedy Cash engages in the money transmission business as an authorized delegate of Western Union Financial Services, Inc. under Chapter 151 of the Texas Finance Code. Speedy Cash engages in the money transmission and/or currency exchange business as an authorized delegate of MoneyGram Payment Systems, Inc. and Western Union Financial Services under Chapter 151 of the Texas Finance Code.

In Ohio, SCIL, Inc. dba Speedy Cash, is a registered Ohio Credit Services Organization (CS.900174.000) operating pursuant to the Ohio Credit Services Organization Act. The actual lender is an unaffiliated third party. The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio civil rights commission administers compliance with this law.

CA: Licensed by the California Department of Business Oversight pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Financing Law. Installment Title Loans subject to minimum auto value requirements.

New Mexico: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website

Nevada: The use of check-cashing services, deferred deposit loan services, high-interest loan services or title loan services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

Tennessee: The State of Tennessee requires a minimum principal reduction. In order to comply with the minimum state-required principal reduction, Speedy Cash requires that minimum payments include a principal reduction of 2% or $2.50 for Customers who get paid bi-weekly/twice-a-month, or 4% or $5 for Customers who get paid monthly, whichever is greater.

Opt+: This card is issued by Axiom Bank or Metropolitan Commercial Bank, Member FDIC, pursuant to a license from Visa. Visa is a registered trademark of Visa USA Inc. All trademarks and service marks are property of their respective owners. ATM: Free withdrawals at any Speedy Cash or Rapid Cash location. Transaction fees will apply for all other ATMs. No charge loads/unloads at Speedy Cash and Rapid Cash locations only.

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