Payday Loan no debit card? Money Is Waiting At Next Stop

Posted by Nick Niesen on October 29th, 2010

Payday loan no debit card is a cash advance loan in which money is advanced to you on your monthly income or pay. Lenders will give assurance that the cash will be paid in your account within 24 hours of the approval of the loan. Usually the duration of repay the money back is until your next payday. That?s why these loans are also known as payday loans.
Some important things to know
Like other traditional loans available in UK there is some eligibility criterion which has to be required by the borrower. All adult UK citizens are eligible to apply for these loans. Because the money which is avail by this loan is like advance cash on your pay so it is required for the borrower to have a permanent source of monthly income of £1000 or more. Borrower need to have a current checking account which is active and in use for the last six months. Your bad credit could not create any problem in approval of the loan whether you are suffering from arrears, default, CCJ, bankruptcy etc it doesn?t matter for lenders.
Loan lenders required only your bank account number and a post dated cheque with an amount equal to total loan amount plus the interest rate. On the arrival of your next payday this post dated cheque will enable deduction of the loan amount automatically from your account. You have another option to extend the repayment duration if your monthly income is high enough to impress the lender, but lender is likely to charge some extra fee.
Lenders don?t give any restriction on the usage of the money. So you can use the money wherever you want. It is kind of personal loan. You are free to use it for your weekend holiday trip, an extra shopping or paying of a medical bill.
Its most beneficial part is that it is availing payday loans no debit card. All you need to do is to fill in an online application with all required information. This may include your personal details like identity proof or income tax return etc. and then click on submit. Once lender is satisfied with your ability to repay the money, they transferred the money to your account the very next day.