How Fast Will I Get a Payday Loan?
3 Min Read
Reviewed by Latoria Williams Payday loans can provide a quick fix for financial emergencies. Most payday lenders from our network offer next-day or same-day funding, depending on the application method and time of the day you apply. Plus, your bank cut-off times may sometimes affect the speed of the process. Let’s take a closer look at how long it takes for a payday loan to be deposited via 1F Cash Advance.
How Long Does It Take to Get a Payday Loan?
Most payday loans offered through 1F Cash Advance come with almost instant approval decisions and fast disbursement times. This becomes possible due to no hard credit checks performed. Borrowers usually receive their loan money as soon as the next business day. However, the way you apply also plays a role. Here’s a detailed review.
Online Application
Approved borrowers who apply online can usually access the funds within 1 business day. If you apply on Friday afternoon or the weekends, you’ll most likely receive your money on Monday. Same-day funding may be possible for applicants who get approved before 10:30 AM on weekdays. However, it also depends on how fast your bank or credit union processes payments.
In-Store Application
An in-store application typically means you’ll get your cash on hand right away, provided that you’re approved for a loan. This also applies to stores open on Saturdays and Sundays. However, some in-store lenders may give you a check or transfer the funds via a direct deposit, so you’d better ask first.
Applying by Phone
A by-phone application is usually similar to an online process. Applicants who get approved before 10:30 AM can count on same-day deposits, but the common funding times are within one business day.
How Will I Receive My Payday Loan Funds?
For online and by-phone applications, lenders transfer the money via a direct deposit into your active bank account. If you choose one of these application methods, it’s crucial to double-check the account details you provided. An in-store process may come with either cash, check, or money order payouts.
Payday Loan Repayment Process
Payday loans obtained online and by phone are usually repaid via an automatic debit, also known as ACH. This means that a lender will electronically withdraw the funds from your bank account on the due date. In-store payday loans usually require you to provide a post-dated check for the entire loan cost.
Get Instant Payday Loans through 1F Cash Advance
At 1F Cash Advance, we prioritize the speed of the entire loan process to meet our borrowers’ urgent needs. We serve people across the US and have 80+ locations throughout the country. For your convenience, we also offer an online application process, allowing you to receive the funds from the comfort of your home. Just spend less than 5 minutes filling out an online form on the website, get an almost instant approval decision within an hour, and receive the money by the end of the next business day.
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