A cash advance loan like a payday loan without a debit card is based on your monthly income or pay. Lenders will promise that the money will be in your account 24 hours after the loan is approved. Most of the time, you have until your next paycheck to pay back the money. So, these loans are also called "payday loans."
Some things you should know
Like other traditional loans in the UK, there are some requirements that the borrower must meet in order to qualify. Anyone who is an adult and lives in the UK can apply for one of these loans. Because the money you get from this loan is like an advance on your pay, the borrower must have a steady source of income of at least GBP1,000 per month. Borrowers must have an active checking account that has been used in the last six months. Lenders won't turn you down for a loan because you have bad credit. It doesn't matter if you have arrears, default, CCJ, bankruptcy, or anything else.
Loan companies only needed your bank account number and a check with a future date for the amount of the loan plus the interest rate. When your next paycheck comes, this post-dated check will allow the loan amount to be taken out of your account automatically. You can also extend the time you have to pay back the loan if your monthly income is high enough to impress the lender. However, the lender will probably charge you an extra fee. There are no rules about how the money can be used from the lender. So you can do what you want with the money. It's something like a personal loan. You can use it to go away for the weekend, do some extra shopping, or pay a medical bill. The best thing about it is that you can get payday loans without a debit card. You only have to fill out an online application with all the necessary information. This could be your name, address, proof of identity, income tax return, etc., and then you click "Submit." Once the lender was sure you would be able to pay back the money, they sent it to your account the next day.
