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.
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+ | |
Check Into Cash | $50 to $1,500, varies by state | Payday loan | 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) | |
Speedy Cash | $50 to $3,000, varies by state | Payday loans and prepaid debit cards | Must be 18+ years old (19+ in AL) and have valid ID, proof of steady income, an open checking account and working phone number. | |
Check N’ Go | $100 to $1,500 | Payday loans, installment loans and prepaid debit cards | Active bank account, regular income, US citizen or permanent resident, 18+ (varies by state) |
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.
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.
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.
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.
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.
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 —- minus the credit check.
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.
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.
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.
Fast cash sounds good until you see how much it really costs to borrow.
A review of Personify Financial, a lender that offers installment loans up to $15,000 with rates starting at 36% for borrowers with poor credit.
A review of FinnFox, a loan connection service that seems to have a lot of red flags.
Review of CreditNinja installment loans including loan amounts, terms, fees and pros and cons.
A review of Xact, a direct lender that offers installment loans up to $5,000 with high APRs.
A fast-cash lender with flexible approval, but are the high interest rates worth it?
A review of Advance America, a lender that offers payday loans, installment loans, lines of credit and title loans to borrowers with poor credit.
A review of Quick2Lend, a connection service that matches borrowers with installment loans up to $3,000.
Get up to $2,000 as a first-timer with this tribal lender. Qualify for loans of up to $3,750 and with lower rates for repeat borrowers.
A review of BadCreditLoans.com, a loan connection service offering loans up to $10,000 for borrowers with bad credit.
I have no bank account an in need of an emergency loan!?!?
Hi Maylee,
Thanks for leaving a question on finder.
Without a checking or savings account, your loan options may come up short. But alternative services could be a way for you to bridge a financial gap without the need for your local bank. To compare from lenders who offers loan without a bank account.
Please send me a message if you need anything else. :)
Cheers,
Joel
Iam recieving SSI. Every month my money is direct deposit on my Direct Express Debit card can i get a payday loan
Hi Alice,
Thanks for reaching out to finder.
Yes, you can apply for a payday loan even if you are receiving SSI benefit. Generally, lenders offering payday loans require their applicants to have a steady source of income and most lenders consider SSI benefit as a form of income. These lenders do not always require the borrowers to have a bank account as well, so having a prepaid debit card will still suffice.
However, before applying, it’s always good to check the lender’s eligibility criteria and also read relevant documents with the loan term agreement to help you decide if it best suits your needs.
I hope this helps.
Cheers,
Charisse
How long does it take to get prove for a small loan
Hi Angela,
Thanks for leaving a question on finder.
Most lenders can transfer your money by the next business day. If you’re a repeat borrower, you may already have the prepaid card to load your funds. Please send me a message if you need more help. :)
Cheers,
Joel
Can I get A payday loan without a checking account?
Hi Ta-Nae,
Thanks for leaving a question on Finder.
You can check out our no-bank account loans guide to compare available options. The lenders on this page require you to have a bank account. Once you have decided on a suitable loan for your needs, you may click on the green ‘Go to site’ button to submit your application or know more about the loan offer.
Cheers,
Joel
I draw disability $853 a month I need to loan $500 my credit isn’t good and my money comes on a Direct Express Card can I still get a loan even though I don’t have a bank account and just comes on the card
Hi Ryan,
Thanks for getting in touch with finder. I hope all is well with you. :)
The answer to your question is yes. It is still possible for you to obtain a loan by using your prepaid debit card. Since you mentioned you receive disability, then you may find our list of loans for people on pension helpful.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua