Prepaid debit card explained

A known alternative to bank deposits is getting your moneys on a prepaid debit card. A prepaid card can be convenient because you can use them at a varied stores. You might also be able to withdraw cash at an ATM, though this might acquire extra fees.

Payday lenders that offer prepaid debit cards will either mail the card to you or let you pick it up at a close place after your loan has been approved. You may also be able to use an existing prepaid card. Be sure to check with the lender for any limitations.

Benefits of prepaid debit cards:

·         They’re reloadable. If you’ve already had a payday loan on a prepaid card, you may be able reload the card with a new loan. Likewise, you can also load funds that aren’t related to the loan.

·         They’re dependable. Prepaid cards are often issued under Mastercard or Visa, two trusted and widely accepted products.

In-store cash pickup explained

Many payday lenders offer cash if you apply in person, and some even permit you to apply online and pick up your loan in person.

When you go into the store to apply, be sure you have your proof of income ready. Without the capability to show bank statements that confirm your financial state, you may need to produce pay stubs or other employment information.

The benefits of in-store cash pickup include:

·         You can get money quickly. The in-store application process doesn’t take long, and after approval, you can get the cash within a few minutes.

·         Personal assistance. When you apply in-store, you can work with an associate to organise a repayment plan and get help with the application process.


Source : https://www.finder.com/debit-card-loans