Consider applying for a debit card loan for a quick and convenient way to receive funds.
Get a loan of up to $5,000 from Cash Central loaded on a Green Dot® prepaid card
How does a prepaid debit card loan work?
You can apply for a prepaid debit card loan either online or in-store.
If you’re approved, the lender will transfer your funds into your loan account. Online applicants will have to wait for the card to arrive in the mail, but once you have it, you’ll have access to your money whenever and wherever you need it.
If you need a loan in the future, you can use the same card, though this might come with an extra charge. On top of this, you aren’t limited to using your prepaid debit card to receive payday loans. You can set up most prepaid cards to receive direct deposits, giving you quick access to your paycheck, tax refunds and government benefits.
Most prepaid cards are either Visa or MasterCard so you can withdraw money from your card at most ATMs and spend it wherever the brand of the card is accepted.
Compare your short-term loan options
These loan-matching services focus on trying to connect you with a lender that might be able to provide you the funds you seek based on your preferences and the lenders’ criteria.
Top six reasons to consider a prepaid debit card payday loan
There are a number of features that come with payday loans including:
- You don’t need a bank account. With prepaid debit card loans, you can have the funds deposited onto the card.
- You’ll get easy access to funds. Once the funds are transferred to your card you can withdraw money from an ATM, shop at stores that accept prepaid cards and you may also be able to spend online or over the phone.
- You can receive other funds on the card. You aren’t limited to using your prepaid debit card to receive payday loans. You can set up most prepaid cards to receive direct deposits giving you quick access to your paycheck, tax refunds and government benefits.
- You may earn rewards. Some prepaid card providers let you earn cash rewards when you use your card.
- Multiple loan options to compare. If you live in a state where payday loans are legal, you’ll have a number of lenders to compare and choose from. The time it takes to process applications and disburse funds varies by lender, so it’s in your best interest to compare your options.
- You can use the funds for any purpose. What you want to do with the loan is up to you. You can use the money for car repairs, forgotten bills, or to just get by until payday.
What are the benefits and drawbacks of prepaid debit card loans?
The benefits
- No bank account required. You can find lenders who approve loans for borrowers without a bank account.
- Bad credit is OK. As long as you can demonstrate your ability to repay, your credit score won’t be the biggest factor in being approved.
- Quick access to funds. Some lenders can transfer your loan to you on the day you apply, although you may need to wait until the next business day. The process is generally quicker when you are a repeat borrower as you already have the prepaid card to reload.
The drawbacks
- Higher fees. Payday loans charge considerably higher fees than conventional loans, making them a costly form of credit.
- Short repayment term. You’ll generally have to repay your loan on your next payday, so make sure it won’t put too much of a strain on your budget before you apply.
- Disreputable lenders. There are plenty of shady lenders out there that may try to take advantage of you. Always confirm that a lender is licensed and operates legally before signing a contract.
What you should know about prepaid debit card payday loans
Before you apply, establish how you plan to repay your loan. If you think you might not be able to repay it on time, you should reconsider taking out a loan in the first place. Not paying on time means you will pay additional fees and charges, and it can also have a negative effect on your credit rating.
Make sure the lender you deal with has a valid license and is allowed to lend in your state. Review the terms and conditions before accepting any contract.
State regulations govern how much you can borrow and for how long. Because a prepaid debit card is still a payday loan, they will have much higher fees than a traditional loan from a bank or credit union. If you don’t think you’ll be able to repay, avoid taking out the loan in the first place. A late or missed payment can lead to extra fees and may damage your credit.
Have bad credit? There are lenders that may still consider you.
How to apply for a prepaid debit card loan
Applications can be submitted online or in person.
Eligibility criteria:
- Be a US citizen or permanent resident
- Be at least 18 years old (varies by state)
- Have steady source of income
Required information:
- Your name, date of birth, address and email
- Your Social Security number and state-issued ID
- Details about your employment status and income
Are payday loans available in your state?
Frequently asked questions about prepaid debit card payday loans
How much time does it take to apply for a debit card payday loan?
The application process should take no more than 10 to 15 minutes if you have all the required information close at hand.
Can anyone apply for a payday loan?
You can apply as long as you have a steady source of income and you’re a permanent resident of the US. You’ll also have to meet your state’s minimum age requirement and whatever other criteria a lender has.
Can I get a prepaid debit card loan if I receive SSI, welfare or unemployment benefits?
Yes. Some lenders may accept alternate forms of income when evaluating your loan application. You can visit the lender’s website or call its customer service line to confirm eligibility.
Payday loans are not legal in my state. Do I have any other options?
You can consider applying for an installment loan or an auto title loan. There are also other short-term loan options you can look into.
Are there any fees with debit card loans?
Yes, but it varies by lender. You may have to pay reloading fees, interchange fees, setup fees and ATM withdrawal fees. It’s important to check these before you apply.
Is my information safe when I apply?
The majority of short term lenders use 128-bit security encryption to ensure your details are kept safe. Look for the padlock icon in your browser.
I was curious, can I still get a loan if I am self employed or paid under the table?
Hi Neil,
Thanks for reaching out.
Here is a link where you can view and compare your options regarding personal loans.
Cheers,
Joanne
I have a job but no bank account what will I need to be an applicant for a loan
Hi Sherah,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You may refer to this page for options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
I hope this helps.
Cheers,
Danielle
I have a prepaid debit card so how do I go by getting a payday loan funds loaded on my card and I need funds today
Hi Shanta,
Thank you for your comment.
Please refer to the details above on how to go about applying for a payday loan and receive it through a prepaid debit card and compare the lenders above that offer payday loan and make sure to meet the eligibility criteria before submitting an application. In addition to that, you also need to check if it’s available in your state.
Regards,
Jhezelyn
What’s your opinion if any Payday loan site for a person on SSDI that’s legit in the state of NJ
Hi Lisa,
Thank you for your inquiry.
Unfortunately, payday loans are prohibited in New Jersey, so I may not be able to provide you with a list of lenders for your options. Although that is the case, you may like to reconsider applying for an installment loan or short-term loan. Best to review the criteria of the loan and contact the lender to confirm your options and eligibility.
Cheers,
May
I have a prepaid check debit card .is there a pay day company that can just load funds on it ?? I need funds today
Hi Brian,
Thank you for your inquiry.
If you are looking for a lender that deposits the loan proceeds to your debit card, they are actually listed above. I would suggest that you review the criteria and contact the lender directly to discuss your options and eligibility.
Hope this helps.
Cheers,
May
How come it says you don’t need a bank account and after filling out so many loans at the end they ask for my account number and routing information I don’t understand
Hello Patricia,
You don’t need to have a bank account to get a payday loan. Your options may be limited, but you can find lenders willing to work with you.
You may also find this page helpful:
https://www.finder.com/no-bank-account-loans
Alternatively, you may contact the lenders directly so they may guide you.
Cheers,
Gru
Can I use a green dot prepaid card that I already have for a debit card loan
Hi Shane,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
That would depend on the lender. You may review and compare the lenders available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
I hope this helps.
Cheers,
Danielle
I need a loan but they are asking for account number but my account number is my debit card number but they saying it’s wrong what do I do
Hello Cierra,
Thank you for reaching out to us.
Just to clarify, were you trying to sign up online or over the phone?
Depending on the bank, there really would be instances when the debit card or credit card number is exactly the same as your account number.
So if that would be the case, that should work for you.
However, just to be on the safe side, it would still be best if you contact your bank directly to clarify this.
You would also do well to check on your bank statement.
Hope this helps.
Cheers,
Gru
I need a loan with bad credit and no bank account. Can you give me some ideas I stay in texas
Hello Carlisha,
Payday lenders tend to look beyond your credit score to focus on your ability to repay the loan successfully. Outside of repayment ability, payday lenders usually base their decisions on your age, state of residence, if you have a valid form of photo ID and if you’re an active member of the military. You also don’t need to have a bank account to get a payday loan. Your options may be limited, but you can find lenders willing to work with you.
You may also find this page helpful:
https://www.finder.com/no-bank-account-loans
Cheers,
Gru
I’m moving out of state I need$$$ for gas and for my apt and I need furniture is really appreciate a loan
Hi Karen,
Thanks for your question.
If you don’t have a bank account and are looking to apply for a debit card loan, you may compare your options above. Kindly provide your state of residence so you’ll see which lenders are available in your area.
Alternatively, if you have a bank account, you may check your loan options here.
I hope this helps.
Cheers,
Anndy
I just need to borrow $300 for my daughters preschool. However I don’t have a bank account but I do have a prepaid debit card! I’m also unemployed at the moment but I do sell things online and receive child support so I would have no problem paying that little amount back
Hi Kristee,
Thank you for reaching out to us.
You’re on the right page for your concern. As finder is an online comparison service and is not a product issuer, it would be best to get in touch with a lender featured on this page as they will assess you based on your personal circumstances on your eligibility for a loan with them.
You can input your state of residence to check for available lenders and you may reach out to them directly by clicking on “Go to site”.
Before applying for a loan, please ensure that you meet the criteria and requirements of the loan option or lender and to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.
I hope this helps.
Cheers!
Maria