No fax payday loans can be a life-saver for some of you out there, especially in these tough economic times when personal finances are stretched. But who offers such payday loans? How does it all work? And how do you get one?
These loans, which can also be referred to as a cash advance or a pay-cheque advance, are short-term loans intended to cover a borrower's expenses until their next payday arrives. These loans are designed to provide easy access to credit: most lenders will accept all manner of cases and have very simple criteria. Payday loans, the most of which involve no credit checks, are processed on application and money is received relatively quickly, often the same day.
Who offers No Fax Payday Loans?
Many payday lenders say they offer a no fax payday loan service when in reality they only offer it for a very small selection of their customers. Some of the better known lenders that do offer such a service are: Payday Express; Quick Quid; Wonga; Speed-e-loans. They all operate in the UK and they are all licenced by the Office of Fair Trading to advance money. They also offer a very fast online decision and can transfer your loan on the same day that you apply for it.
How does one get a no fax payday loan?
It's really simple and straightforward. In most cases you will need a debit card but some lenders do not require this. You will, however, need a UK bank account in all cases. If you have at least a bank account then you can complete and submit an application form online for a loan. You will need to enter bank account details but do not worry, they are secure sites. If you have any concerns then look out for a security certificate on the webpage, if one is not shown then do not proceed with the application process.
The next step involves you waiting for a few seconds while the lender's decision system determines if it can lend you money or not. If it cannot then it may inform you of other lenders that can offer you a loan. If it can however, you'll then be asked to e-sign a loan agreement. Again, make sure this is done securely. Look out for the security certificate on the webpage you are viewing and also look out for the https instead of http in your browser's address bar. The lender should then transfer you your loan!
Getting this no fax payday loan should take no more than 2 hours. Some lenders do have a loan transfer cut-off time so your loan advance may arrive in your bank account the next working day, but this is specified on the lender's website. And please note that I specifically say that the lender will transfer the loan funds on the same day but that does not mean that the funds will arrive in your bank account on that same day, especially if it is after office hours.
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