Online Payday Loans from Cash Choice FAQs.

What is a payday loan?

A payday loan, either from CashChoice.com or from one of our retail locations, is designed to be used for short-term financial needs. The due date will be your next payday (up to two weeks). It is not a solution for longer term financial problems for which longer term financing may be more appropriate. Payday advance fees are, however, lower than many of consumers' alternatives.

What is required to get a payday loan?

The prospective borrower will need the following to get a payday loan:

• Employed with a verifiable source of income.
• Possess a checking account that has been open for at least 30 days in which the borrower's paycheck is deposited electronically (direct deposited) into the account.
• The borrower will also need a verifiable email address and a home phone.
• The borrower must be at least 18 years of age.
• All signed Loan Applications are subject to verification of prior loan history and application data.

The application will be either approved or declined based on our evaluation of the information provided by you to us. On rare occasions, we may ask customers to fax additional information, such as a current pay stub and/or a valid state-issued ID.

What are the payday loan rates? What does it cost?

Although payday loans are short-term cash advances intended to be paid off quickly, various Truth-in-Lending laws require financing disclosures to be expressed as an Annual Percentage Rate (APR), or the cost of the credit advanced to you expressed as an annual rate. This requirement provides uniformity among various credit sources, so you can compare rates and make the choice that is right for you.

The effective APR for your loan will depend upon a variety of variables. These would include the number of days between getting the funds and the due date, as well as the specific state in which you reside. While payday loans are available in most of the United States, there are some states in which we're unable to provide loans. To see what the effective rates are in the state that you reside, click here.

Payday loan fees typically cost less than the customer's alternatives:

• Bank and merchant fees can cost three times the interest on a $100 cash advance.
• A $100 bounced check with $48 in NSF and Merchant fees equals an effective APR of 1,251%.
• A $100 credit card balance with a $26 late fee equals an effective APR of 678%.
• A $100 utility bill with a $50 late and reconnection fee equals an effective APR of 1,304%

If you have any questions about our rates, fees, terms or other issues, we encourage you to contact our Customer Service Department at (NEED THE 800 NUMBER) prior to applying for a loan.

How soon can a borrower access the cash after qualifying for a payday loan?

If the application is approved by 8 pm EST, the funds will be electronically transferred (ACH) to the borrowers bank that day (Monday through Friday excluding bank holidays). The funds should arrive at the bank on the following Business Day. Weekend requests will be treated as though they are Monday requests, so funds requested on a Saturday will not appear in a checking account until the following Tuesday.

*Note: Some banks can take two (2) days to process and transfer the funds into your account. You may wish to contact the ACH department of your bank to verify that the funds have been credited to your account. Cash Choice accepts neither responsibility nor liability for delays caused by an outside financial institution.

What if the borrower has poor credit or has filed bankruptcy?

Poor credit ratings will not affect the approval of a payday loan. That said, we will not be able to extend a cash advance to those who have filed for bankruptcy within the past year or those who have filed multiple times.

Do you perform a credit check?

Cash choice verifies your history with lenders in our industry, but we don't conduct a traditional credit check.

How long does it take to get approved for a payday loan?

Dependant upon the time of day and how quickly the application process is completed and submitted for review, borrowers can be approved within minutes. Please keep in mind that any application submitted during weekends, holidays or after 6PM EST will be processed the following business day.

Can you describe the payday loan process?

Online applicants will begin the process by filling out our online application. Once submitted, we review the application and notify the prospective borrower either by phone or email regarding the status of the application. If the loan is approved and funds requested by 8PM EST, then the funds will be received by the borrower the next business day.

Can I use my spouse's income as the basis of a loan?

We can not consider that income as the basis of an approval, but it is possible to have an account open for both you and your spouse if that is desired.

Can I use unemployment income, worker's compensation, welfare income, or alimony payments as the basis of a loan?

We are unable to use any of these income sources as the basis of a loan.

If I am with a temporary employment agency, can I get a loan?

Since temporary work isn't assured, we cannot be able to use that as a basis of a loan.

I'm worried that a payday loan will put me into a cycle of debt and I won't be able to get out of it.

The vast majority of our customers use payday advance loans responsibly and moderately. Sixty six percent of our customers use payday advance loans to cover unexpected expenses and financial emergencies.

Do applicants need access to a fax machine to get a payday loan?

In the vast majority of cases, there is usually no faxing required in order to get approved! In some cases, if more information is needed, we will attempt to contact the customer by phone or email to request the needed information.

How can applicants determine the status of an application for a payday loan?

All online applicants will receive their status via email, or they may log in to Cash Choice to view the current status. Applications are processed 8AM to 8PM EST Monday through Friday. Dependent upon the time and type of application, applicants can be approved within minutes.

What if I can't pay on the due date?

Online borrowers would need to call us at and we will discuss what options, if any, are available to you. It is always best to contact us at least two business days prior to your due date as that allows us the most flexibility.

Will you contact my relatives if I don't pay?

We reserve the right to contact them if we can't reach you. We don't disclose the nature of the call - we simply leave a message with them asking you to call us.

Is my payday loan kept confidential?

Every Cash Choice title loan or payday loan transaction as well as customer information is completely confidential and protected per our Privacy Policy.