These days, most lenders deposit your loan funds directly into your checking account. But a few lenders can load a payday loan (or similar) onto an existing debit card. Or, as one alternative, some cash advance providers may be able to deposit advances onto your debit card or offer their own cards to fund.
However, like other short-term loans, debit card loans are best used as a last resort, as they can come with rates of 400% or more. Plus, some lenders may require you to visit a physical location, not all debit cards are eligible and you typically need an open and active checking account to qualify.
These lenders will load a payday loan onto your personal debit card or prepaid card that you can swipe at stores or use online.
Cash advance apps can be a good alternative to payday loans, with lower fees, more favorable terms and features and the ability to use a debit card for quick access to funds.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.
A debit card loan is any type of loan where the funds are deposited onto a debit card instead of into your bank account (or disbursed as cash or a check). The debit card could come from your regular bank, an online bank or it could be a prepaid debit card.
In general, payday lenders are the only ones who offer debit card loans, but they may also deposit funds from other loan types, too, like installment loans or title loans. Payday debit card loans are typically due on your next pay date, but some loan options offer longer loan terms.
Payday loans come with their own set of benefits and drawbacks.
Applying for a prepaid debit card payday loan is similar to other types of loans, except it may not require a hard credit check.
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 there is a very real risk of falling into a cycle of debt if you borrow money between paychecks often.
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.
With high fees associated with debit card loans, you may want to consider other options.
A 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.
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If you’re planning to apply for a payday loan in Maryland, make sure you go through this guide first.
A PTO cash advance allows certain workers to cash in on their unused paid time off.
Find out if you can afford to take out that short-term loan.
Im self emplyed, i do hair out of my house and recieve cash. I make a couple hundred dollars on wkds and own my house its paid off. Credit not great, how can i get a small loan?
Hi Jeannette,
Thank you for contacting Finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
While having a poor credit score may affect your chances of getting approved for a loan, if you have the ability to repay, there are bad credit personal loans you can compare to find lenders that might be willing to work with you.
Before applying, please make sure that you meet all the eligibility criteria and review the loan terms and conditions to see whether it is right for you.
I hope this helps.
Cheers,
Danielle
Every site I have applied at asks for bank information when I specifically requested a payday loan with no bank account required. In reality, is there such a thing?
Hey Susan,
Thank you for reaching out to us.
As of this writing, the lenders featured on this page do require a valid checking account upon application.
It’s possible that there would be lenders that do not require a bank account. However, they may need additional requirements to be presented in order to verify your source of income. These type of loans tend to have higher fees or rates. It would be best to confirm the details from the lenders directly.
I hope this helps.
Best,
Maria
I have a Rushcard debit. Can I use that to get a loan?
Hello Sonya,
Thank you for your inquiry.
Rushcard prepaid debit card can be funded through cash loading, direct deposit, check cashing and bank or PayPal transfers. If your chosen lender will be funding your loan using these methods, then yes.
Please take note that some payday lenders may have their preferred method and some fees involved, which will be disclosed prior the transaction.
You can reach out to your chosen lender for further assistance.
Hope this helps.
Cheers,
Jonathan
I have a job that pays weekly, however i dont have a bank account. I do have a netspend Western Union prepaid debit card. I need some cash for car repairs fast. Is there any way A lender would work with me on thoae terms
Hi Nicole,
Thank you for your inquiry.
The lenders that could possibly offer you a loan are the ones listed above. You may contact them to confirm and discuss your eligibility and options. Please also note that in some states, payday loans are not legal. I would suggest that you check in the map above to find out whether or not the payday loan is legal where you live.
Hope this helps.
Cheers,
May
I have no job and i am need of cash to pay some bills is there away i can get cash today? Also i have a netspend prepaid card is there away i could use that to get and get cash put on the card
Hi Heather,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You are on the right page. 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