Payday loans — also called cash advances or payday loans — are designed to cover emergency costs or other financial obligations that may arise between paychecks. If you visit the website of a direct lender that accepts prepaid debit cards, such as Massat Loan, you will find an online application form on the home page. Some of the other details that you may need to fill in when filling out the online loan application include your full name, valid email ID, physical address, reason for borrowing, etc. As with any payday loan, you’ll receive the money on your cards and have 30 days from the date of withdrawal to receive the repay loan amount.
Can I get a loan with my debit card?
Instead of the bank account information, you’ll need to provide that you need your prepaid debit card. Once the transaction is complete, you can use your debit card to get a cash advance from a traditional ATM. A prepaid debit card can be a convenient way to get your payday loan, but it comes with the same risks and costs as any other short-term loan. The biggest and perhaps only downside to prepaid debit cards is that APR rates and commissions are higher than any traditional lender.
Cash is deposited into your account in less than a few hours after your loan application is submitted and approved.
Can I have a loan transferred to my prepaid debit card?
Many people are looking for loans that accept prepaid accounts and today it is possible to find such service providers. As with any payday loan, you get the money on your cards and have 30 days from the date of withdrawal to repay the loan amount. The quick loan industry has come of age and has revolutionized in recent years to meet the needs of everyone, regardless of their background and credit rating. With prepaid cards, they can easily monitor your transactions and payment history, giving them more confidence in your reliability as a financing partner.
What is instant financing with debit cards?
If you receive a monthly salary or government claim check as your only source of income, you have the right to claim one of the payday loans with an SSI debit card. A debit card loan is a type of instant financing that deposits the requested amount of money directly into your debit card. Instant prepaid services with debit card loans aren’t the only thing you can get as short-term borrowing. Without a valid debit card, you’ll make the payment via your bank, ACH, or electronic check.