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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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. Same day funding only available for Opt+ cardholders and in-store pickup. Minimum age to apply in Alabama is 19. A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended as long-term financial solutions. Customers with credit difficulties should seek consumer credit counseling.

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.

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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.

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