No direct deposit payday loan lenders are different from traditional payday loan lenders for a few reasons. Let’s now compare some of them.
No direct deposit payday loan lenders write a check, while other lenders prefer to use a bank account to deposit the borrowed cash. Therefore, a bank account is not required for the borrower to apply for a payday loan in this case.
You will need to write a post dated check for the repayment purposes, thus you will never have to worry about the repayment date. However, you need to make sure you’ll have the appropriate amount in your bank account on the due date.
I also suggest that you should do a proper research before applying for a no direct deposit payday loan, because usually they have higher rates. Besides, the repayment terms should be taken into account as well. No direct deposit payday loans may become a real problem unless you
are comfortable with repaying them by the next payday.
If you are going to use the services of no direct deposit payday loan lenders, then you should know that it may take a few days to cash out the check from the lender. So if you need cash immediately then you should probably decide against no direct deposit payday loan lenders
In other ways they are of completely same nature as traditional payday loans requiring the borrower to be 18 years of age and above and have a stable income of at least $1,000.
Summing up, you can really benefit from no direct deposit payday loan lenders in case you don’t have a valid checking account or if it’s not old enough (some lenders require you to have an account for at least 3 months), and if your need for cash is not so urgent as it should be if you fee like getting a payday loan.
Category: Payday loans