Borrow money and have it loaded onto a debit card, not your bank account.
Sometimes it’s the little things that prevent you from getting a leg up in a financial emergency. When you’re looking for a little cash to bridge the gap between paydays, not having a valid bank account for direct deposit could prevent you from getting a loan.
But that trend is changing. You’ll find short-term lenders combining access to fast cash with the convenience of a prepaid debit card. These debit cards are typically branded with Visa or Mastercard, offering the flexibility to pay bills or swipe for necessities at retailers nationwide.
Here’s what to know about prepaid debit cards that can help you access your loan funds without a bank account or strong credit.
Looking for a loan that doesn't require a bank account?
Check out our no-bank-account loans guide to compare available options. The lenders on this page require you to have a bank account.
Our top pick: Speedy Cash Short-term Loans
- Full online application
- Quick funding process
- Multiple loan types offered
Our top pick: Speedy Cash Short-term Loans
- Min. Loan Amount: $100
- Max. Loan Amount: $5,000
- Turnaround Time: 1 day
- Loan Term: Varies
- Requirements: Must be 18+ years old (19+ in AL) and have valid ID, proof of steady income, an open checking account and working phone number.
How does a prepaid debit card loan work?
With a prepaid debit card loan, you apply for your short-term loan either online or in a store. If you’re approved, your lender transfers your approved funds into an eligible loan account. It then registers a prepaid debit card with that account, either handing it to you in person or mailing it to your home.
You’ll typically need to register the card in your name, either in person, by phone or online. Because most prepaid cards are either Visa or Mastercard, you can then begin using your card as you would any other type of credit card. Use it at retailers, utilities or even ATMs to withdraw your cash — wherever and whenever you need it.
Can I reuse the prepaid card for another loan?
Yes. If you need a loan in the future, you’re often able to receive your funds on the same card for a fee, sometimes even with a different lender.
And you’re not limited to receiving only payday loans to your debit card. You can often set it up to receive direct deposits, providing quick access to your paycheck, government benefits or tax refunds.
Compare more short-term loan options
Top 6 reasons to consider a prepaid debit card payday loan
A prepaid debit card offers the flexibility to discreetly spend your payday loan funds anywhere your card is accepted. Here’s what we consider the top six reasons you might benefit from this type of loan:
- You don’t always need a bank account. With a prepaid debit card loan, your lender deposits your approved funds onto the card for immediate use.
- You can easily access your funds. Once your lender transfers your money to your card, you can use it to shop for groceries and more at stores, pay your bills online or over the phone, even withdraw cash at an ATM.
- You can set up your card for other deposits. Most prepaid cards can receive direct deposits, offering a way to quickly access to your paycheck, tax refund advances and government benefits.
- You could earn rewards with the right card. Some prepaid card providers allow you to earn cash rewards with your spending.
- You can choose from multiple lenders. If you live in a state where payday loans are legal, you’ll find lenders to choose from. Compare the ease of applying and turnaround to find the best option for your needs.
- You can use your money however you’d like. What you do with the loan is up to you. Use it for car repairs, forgotten bills or to get by until payday.
What are the benefits and drawbacks to consider?
How a prepaid debit card can help
- No bank account required. You’ll find lenders that approve loans for borrowers who don’t have a bank account.
- Poor credit is OK. As long as you can demonstrate your ability to repay your loan, your credit score isn’t the biggest factor for approval.
- Quick access to funds. Most lenders can transfer your money by the next business day. If you’re a repeat borrower, you may already have the prepaid card to load your funds.
What to look out for
- High fees. Payday loans charge considerably higher fees than other types of loans, resulting in a costly form of credit.
- Short repayment terms. As the name implies, your loan is typically due on your next payday. Make sure it won’t strain your budget too much before you apply.
- Disreputable lenders. Plenty of shady lenders are out there trying to take advantage of people at their most vulnerable. Confirm that your lender is licensed and operates legally in your state before signing a contract.
Other considerations to keep in mind
Before you apply for a prepaid debit card payday loan, consider how you’ll repay it. Among the most notorious types of lending, payday loans often come with high fees and interest rates. Late or missed payments can lead to additional fees and stiff penalties. And default can result in a lower credit score and long-term damage to your overall credit.
Prepaid debit card payday loans are governed by state regulations that limit how much you can borrow and for how long. These laws are designed to protect you against predatory lending. Carefully review the terms and conditions of your specific loan, and ask questions about anything you don’t understand before signing any contract.
To protect yourself against an illegitimate lender, confirm that yours is licensed and allowed to lend in your state.
How to apply for a prepaid debit card loan
Depending on the lender, you’re often able to apply for a prepaid debit card loan online or in person.
To apply for a payday loan:
- You must be a US citizen or permanent resident.
- You must be at least 18 years old (or the age of majority in your state)
- You must be able to prove a steady source of income.
When applying, you typically must submit:
- Your name and personal contact information.
- Your Social Security number and date of birth.
- Government-issued ID, such as your driver’s license.
- Your employment status and income details.
Can’t I have my loan funds deposited into a friend’s account?
No. You need to have an active bank account in your name — not just any bank account. Lenders typically check this before approving your application. If you don’t have a bank account, one of your options is applying for a small-dollar loan loaded on to a prepaid debit card.
What do I do if my application is denied?
Applying through a loan connection service could increase your chances of approval, as these providers have a large network of lenders that offer loans with varying eligibility criteria.
A lender could deny your application for a number a reasons. Common rejection reasons include: living in an ineligible state and not having sufficient income. If you’re denied because of your state of residence, visit our payday loan state directory to find loan options available in your state. If you’re denied because of insufficient income, consider looking at lenders who accept applicants who are unemployed or receive welfare.
Bottom line
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.
Whether you decide to get a prepaid debit card loan or cash from a storefront, it’s important to consider how you’ll be able to repay it. Missing payments or defaulting on the loan will lead to extra fees and charges on top of possibly damaging your credit. Be sure you’re able to repay whatever you borrow quickly before you sign a contract.
Which payday loan company deposit on to Netspend prepaid card?
Hi Rene,
Thank you for getting in touch with Finder.
On this page you’re looking at, kindly choose your state to know first the lenders that you may apply for a loan in your area. Since lenders supply a new debit card for approved loans, they typically partner with certain prepaid card providers. Kindly check with the lender you’re interested in to see if NetSpend is one of their partners.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can I get a payday loan with a Paypal card?
Hi Luis,
Thank you for getting in touch with Finder.
You may get a payday loan with your Paypal Mastercard debit card. Please note that some lenders might supply a new debit card that they typically in partner with. Please check with the lender you’re interested in to see if they may send your fund to your Paypal card.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Hey,
I was wondering what if you just started a job, can you still get a loan?
Hi Rodney,
Thank you for getting in touch with Finder.
You may still get a loan if have just started a job. Basically, lenders will require access to your banking history and financial documents in order to verify that you’ll be able to repay your loan. Every lender has its own minimum income requirement. It can vary from a few months’ employment to simply having proof of regular income. Kindly check out this page to compare your loan options. Check the minimum time employed column to see which lender you may apply a loan with. You may click on the green Go to site button of the provider to be redirected to their official page where you may start your online application. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can you use the cash app card it has a routing number
Hi Peggy,
Thanks for getting in touch with Finder! To get a payday loan, you’d need a physical prepaid card and unfortunately, cash apps won’t be accepted. Hope this clarifies!
Best,
Nikki
I would like to try to get a loan on pre-paid debit card. I just got one
Hi Valerie,
Thanks for getting in touch! The information above shows how you can apply for a loan with a prepaid debit card. Start by checking the lenders on our page above. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps!
Best,
Nikki
How can I get a payday loan with a direct express card
Hi Stephanie,
Thank you for reaching out to Finder.
You may need to check what type of card you have first. There are 2 types of Direct Express card which would be either a debit or a prepaid card. If it is a prepaid debit card then this page would work for us. On the other hand, you may also be interested in checking our Finder page “Loans you can actually get without a bank account“. Hope this helps!
Cheers,
Reggie
I need to get a loan but don’t have a bank account and unable to get a title loan I need this money asap and at loss on what to do
Hi Abby,
Thank you for reaching out to Finder.
You may be interested in checking out page on “Loans you can actually get without a bank account”. Please click here to be routed to that page. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!
Cheers,
Reggie
Im wodering about a prepaid debit card payday loan. I dont have a bank account and was only wanting a $200 loan till I get paid
Hi Christopher,
Thank you for reaching out to Finder.
The lenders on this page require you to have a bank account. Check out our no-bank-account loans guide to compare available options. Please click this link to be routed to that page. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!
Cheers,
Reggie
Need payday loan on line put on debit card same-day approval had my disability check money stolen . I have utilities that are going to be turned off and my phone. Please call 316-312-9565
Hi Sara,
Thank you for reaching out to Finder.
You may reach out to a lender via the page we are on for assistance in taking out a payday loan. We are a comparison website and you would just need to indicate your state on the table provided on the page to see your lender options. Once you have chosen a lender, click on the “Go to site” button to be routed to the page where you could start an application or speak to a lender representative. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!
Cheers,
Reggie
I receive retirement benefits which are a limited income. I would like to apply for at least a $2,500-$3,000 loan. I have excellent credit, but limted income, what other alternatives do I have?
Hi Wanda,
Thank you for reaching out to Finder.
You may be interested in clicking the links below to be routed to our Finder pages.
Quick short term loans
Compare loans for people on pension
Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope these help!
Cheers,
Reggie