Frequently Asked Questions
- What is a payday loan?
- What can I use a loan
for?
- What are the requirements
for approval?
- How much will this cost?
- What if I have poor
credit?
- How soon can I receive
my cash advance?
- What documents do you
require for me to fax in?
- When will I hear from
you?
- How do I receive the
cash, and how to I repay the loan?
- How do I know that
the amount you withdraw from my account is correct?
- How are the fee amounts
established?
- What is an A.P.R.?
- How do you determine
the amount of money to advance me?
- Is my payday loan confidential
and secure?
- How do I determine
my due date?
- What happens if I don't
have the funds necessary to repay you on my due date?
- Can I get an extension
on my payday loan?
- Can I pay my loan back
early?
- What about loan requests
on Fridays or the weekends?
- In which states are
you authorized to provide payday loans?
Q: What is a payday loan? Back
to top
A: A payday loan or a payday advance is a quick and
confidential way to get a cash advance until your next paycheck.
Q: What can I use a loan for? Back
to top
A: Your funds can be use for anything you like, such
as car bills, phone
bills, etc...or anything you like.
Q: What are the requirements for approval?
Back to top
A: Must be over 18 years of age.
A: You must have an active personal checking account
that has been open for 6 months or more.
A: Your monthly income must be $1000.00 or more
A: You will need a copy of your current bank statement
no more than 14 days old.
Q: How much will this cost? Back
to top
A: Our fees are among the lowest on the internet! Please
call for special rates.
Q: What if I have poor credit? Back
to top
A: No problem! Unlike many other financial institutions,
we do not require that you have good credit or, for that matter, any
credit history at all. If you have any questions about qualifying for
a payday loan, please contact us at service@payday2go.com.
Q: How soon can I receive my cash advance?
Back to top
A: We can approve your loan application in only a matter
of minutes. If you request your loan before 5:30 PM (EST), we can deposit
funds into your account by the very next business day.
Q: What documents do you require for me to fax
in? Back to top
A: After submitting your loan application, all you
need to do is fax us four (4) items:
1. A copy of a blank voided check.
2. Your most recent complete bank statement, showing your direct deposits.
3. Your last pay stub, showing your direct deposits.
4. A copy of your state issued ID.
Q: When will I hear from you? Back
to top
A: After you have faxed in these required documents,
we will contact you by either email or phone within one hour about the
status of your loan during normal business hours, Monday to Friday,
7AM to 6PM (EST). For applications submitted after-hours, we will contact
you first thing the next business morning.
Q: How do I receive the cash, and how do I repay
the loan?
Back to top
A: When you apply for a payday loan, you authorize
us to directly deposit the approved amount into your account. You also
authorize us to directly withdraw from your account on your next payday
for the same amount advanced plus our fee.
Q: How do I know that the amount you withdraw
from my account is the amount you say? Back
to top
A: Since we are authorized to use the Federal Reserve
Wire System, we must abide by the NACHA rules and regulations. As a
Lender, we are subjected to federal and state laws and regulations that
regulate our lending practices. The amount we withdraw from your account
will be the amount that you have authorized.
Q: How are the fee amounts established?
Back to top
A: In the interest of consumer protection, the fee
we charge is never higher than the law allows. It is our goal to offer
you the best service at the most competitive fee possible.
Q: What is an A.P.R.? Back
to top
A: An A.P.R is the annualized percentage rate of your
payday loan. Please call us for today's special rates.
Q: How do you determine the amount of money
to advance me? Back to top
A: State law generally regulates the maximum advance
amount available to our customers. Within the allowed range, you qualify
for a particular advance amount based on your current income.
Q: Is my payday loan secure and confidential?
Back to top
A: Absolutely! We transact all our loans on our secure
SSL server, utilizing the industries highest standard. Your non-public
information is completely confidential and protected by our company
privacy policy.
Q: How do I determine my due date?
Back to top
A: All loans are due on your next payday, unless your
next payday is less than 4 days away. In this case your check will be
held until your second payday. The maximum advance term is 30 days.
Q: What happens if I don't have the funds necessary
to repay you on my due date? Back
to top
A: You must contact us immediately! If you contact
us two business days prior to the due date, we can make arrangements
for an extension. If you do not contact us two business days before
your due date, we will charge you extra fees on top of what you owe
us, including a NSF fee of $25.00.
Q: Can I get an extension on my payday loan?
Back to top
A: Yes! Please Call us for your specific options.
Q: Can I pay my loan back early? Back
to top
A: Yes, you can pay your loan back early. Contact us
to let us know that you want us to debit your account earlier than the
due date. You may be entitled to a refund or discount of the fees, depending
on the date of payment.
Q: What about loan requests on Fridays or the
weekends?
Back to top
A: All Friday loan requests before 4:00 PM (EST) will
be funded on Monday. All weekend requests will be treated as Monday's
requests.
Q: In which state are you authorized to provide
payday loans? Back to top
A: We process loans in every state except
AK, GA, DC, HI, PR, WV, VA.
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