Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Why payday lenders ask for your bank account details

What providers do with that information.

Just about all online lenders will require you provide your bank account details. Otherwise, they wouldn’t be able to transfer funds. Having your bank account and routing number can also speed up the application and make it possible to get your loan funded the next day. But only give your sensitive personal information to a lender you trust.

Why do payday lenders need my banking details?

Payday lenders ask for your account number and routing number for several reasons.

  • Verify your bank account. Most loans require you to have an operating bank account to qualify. This is an easy way to verify that you’re eligible.
  • Check your ability to repay. While it’s no longer federally required, most legitimate lenders will want to make sure you can afford the loan. Your bank credentials lets it quickly access your bank statements.
  • Deposit funds. Online payday lenders often send the funds directly to your bank account using an ACH transfer. But they need your bank account to do so.
  • Collect repayment. Having your bank account information makes it easy for you to lenders to set up automatic repayments on the day it’s due.

What bank account information do payday lenders need?

Online lenders ask for your routing and account number, while storefront lenders typically ask for a voided check — which contains your routing and account number. Some might also ask to see copies of your bank statements.
Here’s a list of exactly what bank account details top payday lenders will ask for.

Requests bank account information?Details requiredOther eligibility requirements
LendUpYes; checking account onlyYour account number and bank’s routing numberProof of income and a Social Security numberRead review
CashNetUSAYes; checking account onlyYour account number and bank’s routing numberRegular source of income
Go to site
Check Into CashYes; checking account onlyYour account number and bank’s routing numberAt least 21 years old (19 in Alabama)
Ace Cash ExpressYes; checking or savings accountYour account number and bank’s routing numberRegular source of income
Not currently in bankruptcy
Go to site
OppLoansYes; checking account onlyYour account number and bank’s routing numberMeet the minimum income requirement
Paycheck deposited into a checking account
Go to site
Blue TrustYes; checking account onlyYour account number and bank’s routing numberMeet the minimum income requirement
Not currently in bankruptcy
Paycheck deposited into a checking account
MaxLendYes; checking account onlyYour account number and bank’s routing numberRegular source of income
Not currently in bankruptcy

Is it safe to give out banking details?

Yes, if you’re applying with a reputable lender. Reputable short-term lenders will not store your login details and should have a secure, encrypted page for you to submit your bank account numbers along with your other personal information.
However, this doesn’t mean there aren’t scams out there. Here are some quick tips to spot a bad lender:

  • The company requests your login details over the phone or through email.
  • The login page or application page is unsecure, and your browser shows a warning symbol.
  • The company claims you need to pay a fee before applying.

How to protect yourself from payday loan scams

What other information do payday lenders usually ask for?

Beyond your checking account information, payday lenders will often require you to provide other sensitive personal details. This can include your full name, date of birth and Social Security number. Many providers will also want information about your employment or income, your current residence and how to best contact you.
These questions are common with most loan applications, and because they reflect your unique financial situation, you should take care when applying. Make sure your lender has a secure application page with “https” in the web address.
If you’re submitting your information through a matching service, be sure to only provide your banking information or Social Security number to companies with limited sharing policies.

Available options if you don’t want to use a bank account

Unfortunately, there aren’t many payday lenders out there willing to extend loans to people without bank accounts. You’re unlikely to find a lender that doesn’t at least require a bank account to confirm your financial status, but that doesn’t mean there aren’t options. As long as you can prove your income, you may be able to find a lender that wants to work with you.

  • Provide collateral. An auto title loan or pawn shop loan can be easy ways to get small amounts of cash to cover an emergency debt without providing your bank account details. However, keep in mind that securing a loan with your car or other items can result in repossession if you fail to repay.
  • Visit a store location. If you’re able to visit a payday loan store location, you may be able to receive your loan as cash or as a check by simply providing pay stubs or other verified proof of your income.
  • Use your savings account. Some lenders issue loans to people who have a savings account but no checking account, such as ACE Cash Express.
  • Request a prepaid debit card. You may be able to find a lender that offers loans that can be loaded onto a debit card without request bank account information.

Bottom line

Most payday lenders ask for your banking details in order to transfer your loan funds into your account and debit your payment when it’s due. But you should still be wary of lenders that don’t have secure websites or request a fee to fill out the application. If you aren’t comfortable providing your bank account information, your loan options are limited but you do have alternatives to explore.

Frequently asked questions

More guides on Finder

Ask an Expert provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

18 Responses

    Default Gravatar
    HowlandAugust 19, 2019

    Where can I get a small short term loan if I am on a pension and social security,having trouble securing one, please help

      Default Gravatar
      nikkiangcoAugust 20, 2019

      Hi Howland,

      Thanks for your message.

      Sorry to hear you are having a little difficulty in getting a short term loan. There are short term loans for people on pension as well as loans for people on disability that you can compare and consider applying for.

      Please note that most of these lenders will require you to have a checking account and you also have to meet their eligibility requirements so check first before applying to see which lender suits your financial situation.

      Hope this helps. Feel free to reach out to us again for further assistance.


    Default Gravatar
    JamesJuly 29, 2019

    Is lending club a Good lending company

      Default Gravatar
      nikkiangcoJuly 29, 2019

      Hi James,

      Thanks for your question.

      Yes, LendingClub is one of the largest peer-to-peer (P2P) lending marketplaces in the world. They have received several awards and recognitions for their ideas, innovative technology, and business success.

      You can visit their website to learn more about their company profile or you can also read our LendingClub review page to find out how their loan service works.

      Hope this helps.


    Default Gravatar
    RhondaFebruary 9, 2019

    I am trying to apply online for a loan. I have bad credit and on a fixed income. I came across a loan company that sounds good but in their application, they want my debit/credit card information and even my landlord’s information. The site has the padlock and starts with https. Is this legit?

      JoshuaFebruary 18, 2019Finder

      Hi Rhonda,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Most short term lenders ask their clients’ card information as well as other details that some people may be hesitant to provide. The reason behind this is they want to verify your identity as well as your bank account.

      If a website has a padlock icon next to its URL and starts with HTTPS (Hyper Text Transfer Protocol Secure), it means that it is using a secure mode where communications between browser and web server are encrypted. On the other hand, HTTPS means (HTTPS). For this reason, you can have a better idea of the level of security the website is having.

      If you want to be sure with your lender, you can research more about it and see what people are saying about them.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    RobertDecember 23, 2018

    I still cannot find Ace Finance Bank on website or map at Google or Microsoft Edge. Is this a state bank? Thanks.

      JoshuaDecember 23, 2018Finder

      Hi Robert,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      We currently don’t have a review page on Ace Finance Bank. I have also made a quick search for it on the Internet and could not find their website. However, if you are referring to Ace Cash Express, then you can read our Ace Cash Express guide to learn more. On that page, you will learn more about Ace Cash Express in terms of who they are, the services they offer, application criteria, and others.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    JklDecember 10, 2018

    Which bank account (e.g. savings account) can apply for loans?

      Default Gravatar
      AshDecember 13, 2018

      Hi Jkl,

      Thank you for contacting Finder.

      You may use either your checking or savings account as they are part of the lenders’ eligibility requirements.

      There are also lenders that can offer you loan options even if you do not have a bank account. So, it’s best to explore no bank account loans. Kindly read first the lender’s eligibility requirements as well as their terms and conditions to know if that is a suitable option for you.

      I hope this helps.

      Please do not hesitate to reach out again to us if you have additional questions.


Go to site