There are a few lenders that can load a payday loan onto an existing debit card, and some lenders offer their own debit cards to fund. However, like other short-term loans, prepaid debit cards loans are best used as a last resort — they can come with rates that top 700% APR.
4 lenders that offer prepaid debit card loans
These lenders will load a payday loan onto a prepaid debit card that you can swipe at stores or online.
Lender
Loan amount
Type of loan
Requirements
Ace Cash Express
$100 to $1,500, varies by state
Payday loans and short-term installment loans
Steady source of income, checking or savings account, not currently in bankruptcy, ages 18+
Active bank account, government-issued photo ID, proof of income, most recent bank statement, checking account and bank routing number and Social Security Number or ITIN (for Indiana residents only)
These can be a good alternative to payday loans with lower fees and more favorable terms and features, including the ability to use a debit card to access funds.
You apply for the loan, and if you’re approved, your lender transfers your funds into an eligible loan account and gives you your debit card either in person or by mail. From there, you may need to register the card in your name. Because most prepaid cards are either Visa or Mastercard, you can use it at retailers or to pay bills. You may even be able to withdraw cash from an ATM, although this might come with extra fees.
Can I repay a payday loan with a prepaid debit card?
It depends on the lender. Some may allow you to make payments with a prepaid debit card, but it could mean you pay an extra fee. Other lenders may only accept bank account transfers. Keep in mind that cash is usually king — you may be able to withdraw money from your prepaid debit card and pay the lender directly.
Loans without a bank account
Unfortunately, most lenders that offer prepaid debit card loans still require you to have a bank account. Check out our guide of no bank account lenders to see potential lending options.
Pros and cons of a prepaid debit card payday loan
Payday loans come with their own set of benefits and drawbacks.
Pros
Easily access your funds. Once your lender transfers your money to your card, you can use it to shop at stores, pay your bills and even withdraw cash at an ATM.
Can set up your card for other deposits. Most prepaid cards can receive direct deposits, offering fast access to your paycheck, tax refund advances and government benefits.
Earn rewards with the right card. Some prepaid card providers allow you to earn cash rewards with your spending.
Multiple lenders to choose from. If you live in a state where payday loans are legal, you’ll find several lenders that offer this type of loan. Compare the ease of applying and turnaround to find the best option for your needs.
Cons
High fees. Payday lenders charge considerably higher fees than other types of lenders, which could get you caught in a cycle of debt.
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.
How to apply for a prepaid debit card loan
Applying for a prepaid debit card payday loan is similar to other types of loans —- minus the credit check.
Check requirements. You’re likely to need a steady source of income, be a US citizen or permanent resident, have an active bank account and be the age of majority in your state (often at least 18). Most payday lenders don’t check your credit score.
Gather documents. You’ll likely need your SSN, valid identification, paystubs, employer information and proof of address.
Apply. If you apply online, you’ll likely receive a lending decision within the day. Payday lenders often have a turnaround time less than three business days, and some may even fund the loan within one day.
Debit card cash advances vs. prepaid debit card loans
Debit card cash advances are not the same as a prepaid debit card loan. With some bank accounts, you can use your debit card to overdraw your account to access cash for an overdraft fee of around $34 per withdrawal. Some banks might also charge an extended overdraft fee of around $25 per week if your account is negative. Since payday loans often cost around $15 per $100 borrowed, a debit card cash advance is generally more expensive. But once you top $300, it could cost you less — as long as you repay before the extension fees kick in.
What to watch out for
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. Late or missed payments can lead to additional fees and stiff penalties. And defaulting 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.
Bottom line
A prepaid debit card can be a convenient way to receive your payday loan, but it comes with the same risks and costs as any other short-term loan. Before you commit to a lender, learn more about how payday loans work to ensure they’re the right fit for you.
Bethany Hickey is a personal finance writer at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
Thanks for your comment and I hope you are doing well.
To get started, go to the part of the page asking for your state. Enter your state and it will show the list of lenders in your area. You will find a table that compares the features and benefits of each lender such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to apply for a prepaid debit card loan is also stated on the page.
As a friendly reminder, carefully 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 and feel free to reach out to us again for further assistance.
Hi. My lights just got shut off and I don’t get paid till next week thrusday morning. I was wonder can I get a loan. I just need 150$ and I’ll be able to pay it right back when my deposit it.
Thanks for getting in touch! Sorry to hear your electricity got cut off.
There is information on our page where it says “How to apply for a prepaid debit card loan” and you can read through that to know if you are eligible to apply for a loan. Note that the probability of you getting approved will depend on how you fit a lender’s eligibility criteria.
To get started comparing options for a lender, please go to the page that says “Personalize your loan options.” Enter the state you are in and you will find see a list of lenders available in your area. This table compares the features and benefits of each loan provider such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, an FAQ part is available below. As a friendly reminder, carefully 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 and feel free to reach out to us again for further assistance.
Thanks for your comment. I’m sorry to hear about what you’re going through, I would feel the same way.
To get started on finding loan options, go to the part of the page saying “Compare more short-term loan options.” Enter you state and you will find the lenders listed. You will find a table that compares the features and benefits of each lender such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to apply for a prepaid debit card as stated on the page. As a friendly reminder, carefully 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 and feel free to reach out to us again for further assistance.
Thanks for getting in touch! With a prepaid debit card loan, your lender deposits your approved funds onto the card for immediate use. You can easily access your funds. To know if you can get a loan with a Chime card, you would need to contact the lender and see if they can accept Chime bank. It would be best to contact the customer service support of the lender directly for further assistance.
Hope this clarifies and we hope they find a quick resolution for you!
There is more than one way to get fast cash with a prepaid card.
1. Prepaid Debit Loans
2. Direct Lenders – These providers lend you money directly and service your loan payments — no middle-man.
3. Loan connection services – they help connect you with lenders willing to provide you the funds based on your preferences and the lenders’ criteria
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.
As a friendly reminder, carefully 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 was helpful. Don’t hesitate to message us back if you have more questions.
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I need a 500 loan on my Netspend card. How do I get one fast?
Hi Brandy,
Thanks for your comment and I hope you are doing well.
To get started, go to the part of the page asking for your state. Enter your state and it will show the list of lenders in your area. You will find a table that compares the features and benefits of each lender such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to apply for a prepaid debit card loan is also stated on the page.
As a friendly reminder, carefully 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 and feel free to reach out to us again for further assistance.
Best,
Nikki
Hi. My lights just got shut off and I don’t get paid till next week thrusday morning. I was wonder can I get a loan. I just need 150$ and I’ll be able to pay it right back when my deposit it.
Hi James,
Thanks for getting in touch! Sorry to hear your electricity got cut off.
There is information on our page where it says “How to apply for a prepaid debit card loan” and you can read through that to know if you are eligible to apply for a loan. Note that the probability of you getting approved will depend on how you fit a lender’s eligibility criteria.
To get started comparing options for a lender, please go to the page that says “Personalize your loan options.” Enter the state you are in and you will find see a list of lenders available in your area. This table compares the features and benefits of each loan provider such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, an FAQ part is available below. As a friendly reminder, carefully 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 and feel free to reach out to us again for further assistance.
Best,
Nikki
I need a $1,000 loan and pay no more than $80/month because I am disabled and only get $20/week!!!!!
Hi Sashi,
Thanks for your comment. I’m sorry to hear about what you’re going through, I would feel the same way.
To get started on finding loan options, go to the part of the page saying “Compare more short-term loan options.” Enter you state and you will find the lenders listed. You will find a table that compares the features and benefits of each lender such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to apply for a prepaid debit card as stated on the page. As a friendly reminder, carefully 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 and feel free to reach out to us again for further assistance.
Best,
Nikki
Can you get a loan on a chime card?
Hi Shannon,
Thanks for getting in touch! With a prepaid debit card loan, your lender deposits your approved funds onto the card for immediate use. You can easily access your funds. To know if you can get a loan with a Chime card, you would need to contact the lender and see if they can accept Chime bank. It would be best to contact the customer service support of the lender directly for further assistance.
Hope this clarifies and we hope they find a quick resolution for you!
With care,
Nikki
I NEED TO GET CASH NOW ON A PREPAID CARD. WHERE SHOULD I TRY TO APPLY FOR A LOAN? I HAVE A EMERGENCY AND NEED THE MONEY.
Hi Mary,
Thanks for leaving a message on our page.
There is more than one way to get fast cash with a prepaid card.
1. Prepaid Debit Loans
2. Direct Lenders – These providers lend you money directly and service your loan payments — no middle-man.
3. Loan connection services – they help connect you with lenders willing to provide you the funds based on your preferences and the lenders’ criteria
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.
As a friendly reminder, carefully 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 was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki