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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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.
Hi need a loan only have a green dot debit card with direct deposit
Hi Bless,
Thank you for your inquiry.
If you currently have a green dot card you can reach out to customer service for Green dot to discuss your available options. Or compare other debit card loan options above.
I hope this information has helped.
Cheers,
Harold
I ask for payday loans without bank accounts. After I fill everything out, the last page wants bank account information. Waste of time been doing this 2 days now, it’s a load of crap.
Hi Patricia,
Thank you for your inquiry.
I understand your frustration. Sorry to hear the lender you found did not work out for you.
If you do not have a checking account, there are lenders that offer no bank account loans that you can consider applying with. However, please note that these loans will likely charge higher fees and some lenders may require collateral.
As a reminder, please ensure that you meet all the eligibility criteria and read through the loan Terms and Conditions before applying and making a decision on whether it is right for you.
I hope this information has helped.
Cheers,
Harold
I have a netspend card and am in the process of repairing my credit but need an emergency payday loan, can I get one in Washington State with a netspend card?
Hello Connie,
Thank you for reaching out to us.
Your approval for a loan would depend on the lender’s assessment of your overall financial situation. There are lenders who might approve you if you meet their criteria. Please refer to this page for the list of lenders – https://www.finder.com/bad-credit-payday-loans. Best that you contact them first to discuss your options before submitting your application.
I hope this information helps.
Let us know if there is anything else that we may assist you with.
Cheers,
Ash
Don’t have a checking account, would like to apply for a loan.
Hi Darlene,
Thank you for your inquiry.
If you don’t have any bank account information you may want to consider loans that don’t require a bank account. On the other hand, if you have a prepaid debit card you might be interested in a prepaid debit card loan.
I hope this information has helped.
Cheers,
Harold
I recently was robbed for my wallet that was in my vehicle which was stolen so have no money, no access to money in anyway, no ID. Is there anything I can apply for online?
Hi Jose,
Thank you for your inquiry.
I am sorry to hear that you were robbed. I understand that this must be a tough time for you.
There lenders that offer online loans, however, typically require at least two forms of government-issued identification and other documents to apply for a loan with them.
If you have lost your driver’s license during the robbing incident, you can use other forms of IDs such as birth certificates and utility bills that are also usually, accepted by most lenders. If you do not have other acceptable forms of ID you can use, speak with your lender to discuss your options. Better yet, consider getting a replacement for all the IDs you have lost.
As a reminder, please ensure that you meet all the eligibility criteria and read through the loan terms and conditions before applying and making a to see whether it is right for you.
I hope this information has helped.
Cheers,
Harold