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Alternatives to direct deposit advances

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In need of quick funding? Here are some alternatives to direct deposit advances.

Because of the strict regulations most states have concerning payday loans/cash advances, there are very few banks that offer direct deposit advances to their customers.

If you’re looking for a short-term solution to a financial setback similar to a direct deposit advance from a bank, we have some alternatives for you to consider.

LendYou Short-term Loans

For fast cash: LendYou

Find a lender that offers cash advances between $100 and $15,000.

  • Min. Loan Amount: $100
  • Max. Loan Amount: $15,000
  • Turnaround Time: 1 business day
  • Must have regular income of $1,000/month and be a US citizen or permanent resident
  • No collateral needed
  • Bad credit is OK

    Why are direct deposit advances no longer offered?

    Wells Fargo, Regions and US Bank once had options for customers seeking to withdraw funds when they didn’t have the money. Similar to payday loans, this was a short-term solution that functioned like a cash advance from a credit card.

    In November 2013, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation released standards that banks would need to meet if they chose to continue offering direct deposit advances to customers.

    Because of the growing controversy surrounding payday loans and the disreputable lenders that worked in this area of consumer loans, many banks decided to stop issuing direct deposit cash advances to avoid criticism and potential illegal activity as state regulations changed.

    What are some other ways you can borrow small amounts of money?

    If you have bad credit or don’t want to take out a credit card cash advance, you still have options.

    • Get a payday loan. If you need a small amount of money, you can consider a payday loan. Although not available in every state due to the high interest rates, a payday loan can be a good solution if you’ll be able to repay it within two to four weeks. There are plenty of lenders to choose from, and you can even go through a lender-matching service if you’re unsure where to state.
    • Get an installment loan. Installment loans function much like payday loans except that you have a longer term to repay, usually three to six months. They are less heavily regulated as well so you’re likely able to get one even if you live in a state that has banned payday lenders.
    • Get an payday alternative loans. A payday alternative loan is an inexpensive short-term loan that’s regulated by the National Credit Union Administration (NCUA). Depending on the credit union you borrow from, the PAL can be like your typical payday loan that requires a one-time repayment or an installment loan, which allows you to repay over multiple repayments.

    More alternatives to consider

    Compare your loan options and apply today

    Check the website of any provider you’re interested in to confirm they operate in your state of residence.

    Rates last updated December 13th, 2018
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Max. Loan Amount Turnaround Time Requirements
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    $10,000
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    Jora Installment Loans
    Installment loans with repayment terms up to 30 months, depending on your state.
    $2,600
    1–2 days
    Must have an active checking account, regular source of income and email address.
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $5,000
    1 business day
    Must have direct deposit and meet minimum income requirements
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    LendYou Short-term Loans
    Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
    $15,000
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $1,000
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    ACE Cash Express Short-term Loans
    Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

    Compare up to 4 providers

    Rates last updated December 13th, 2018
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Max. Loan Amount Turnaround Time Requirements
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $5,000
    1 business day
    Must have direct deposit and meet minimum income requirements
    Jora Installment Loans
    Installment loans with repayment terms up to 30 months, depending on your state.
    $2,600
    1–2 days
    Must have an active checking account, regular source of income and email address.
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    $10,000
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    Blue Trust Loans Installment Loans
    Get an installment loan from an online tribal lender. Perks for returning borrowers.
    $2,000
    As soon as next business day
    Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
    LendYou Short-term Loans
    Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
    $15,000
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
    $2,500
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.

    Compare up to 4 providers

    What are the benefits of applying for a short-term loan?

    • Fast turnaround time. Whether you apply online or in-store, you can expect to receive your approved loan fairly quickly. This can be as son as the next business day. If you apply online, you may have the option of picking up your approved funds in-store.
    • Wide range of loan amounts. The minimum and maximum you can apply for depends on the state you are applying from and how much you are eligible for, but usually between $50 and $1,000 is available for payday loans and up to $5,000 for installment loans.
    • Convenient online application. Apply online where there’s no need to fax any paperwork over. The application process can be completed online in just a few minutes.

    What to watch out for

    With direct deposit advances no longer an option for most customers, you need to weigh up your options to identify the right loan for your needs.

    Before you take out a payday loan, keep in mind that these are short-term solutions to sudden financial setbacks. They have high interest rates and should only be used for emergencies, not long-term debt. Be sure you can repay the loan by the due date, and always read the contract carefully before signing. If you don’t agree with any of the terms listed, you are under no obligation to accept.

    How can you find the best short-term loan?

    Are payday loans available in your state?

    Frequently asked questions

    Aliyyah Camp

    Aliyyah Camp is a publisher for finder.com helping folks compare personal, student, car and business loans. When she's not helping people with their personal finances, you can find her going for runs outdoors.

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    US Payday Loans Offers

    Important Information*
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.

    Go to site