Lenders will usually require evidence of a bank account so that they can check that you have a regular income going into it and also to see if you have a regular income so they know that you are capable of making the repayments.
1. You must be at least 18 years old or above to apply for a loan.
2. Ideally you should also have a regular income through a job and can prove this to the lender.
3. Look for and visit websites that offer a Payday Loan without Direct Debit Deposit. This means that the money that the lender will hopefully loan you does not have to be deposited into a bank account. A cheque will be sent out to you in the post for you to cash at a bank.
4. When you have found a suitable lender and loan fill in the online application form. It will ask for details about you, your name and address, date of birth as well as your employment details so they at least know that you have a job and can meet the repayments as you have a monthly wage coming in.
5. It is important that you keep a record of the repayment date so that you know when it is due.
6. Make sure that you understand that this loan is a short term loan that has to be paid back when you get your next pay cheque. It is not a long-term loan.
7. It is important that you make certain that you have sufficient funds to cover the repayment on the date it is due.
8. These loans can be obtained very quickly which is good if you need the money in a hurry. The online forms are very straightforward and easy to complete and only take a few minutes to fill in.
9. If there is no bank account available in which the lender can deposit the money a cheque will be sent out to you through the post. Therefore the money is not accessible immediately.