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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.
5 lenders that offer debit card loans
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:
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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.
Pros and cons of a prepaid debit card payday loan
Payday loans come with their own set of benefits and drawbacks.
Pros
Easy access to funds. Once your lender transfers your money to your card, you can use it to shop at stores or online, pay your bills or 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 debit card providers allow you to earn cash back or other 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, although some extend up to 30 days. 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 debit card loan
Applying for a prepaid debit card payday loan is similar to other types of loans, except it may not require a hard credit check.
Check requirements. You’ll likely 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. Most payday lenders don’t check your credit score, although they might if you opt for a larger loan.
Gather documents. You’ll likely need your SSN, valid identification, pay stubs, employer information and proof of address.
Apply. If you apply online, you could receive a lending decision within minutes. Payday lenders often have fast turnaround times, and some may even fund your debit card within 30 minutes.
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 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.
Alternatives to debit card loans
With high fees associated with debit card loans, you may want to consider other options.
Personal loan. You can borrow as little as $1,000 with a personal loan, and you’ll have longer to pay it back at a lower rate than a payday loan. However, you may need good credit to qualify.
Installment loan. Payday lenders often provide installment loans, too, but these lenders may have better rates and more favorable loan terms.
Cash advance apps. It’s typically easy to qualify for a cash advance app. They’re cheaper than debit card payday loans, and funding is practically instant for a small fee.
Buy now, pay later (BNPL) apps. If you don’t need cash, a BNPL app is an easy way to make larger purchases and pay over time. And you may not even be charged interest.
Bottom line
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.
Frequently asked questions
Unfortunately, most lenders that offer debit card loans require a bank account. Check out our guide of no bank account lenders to see potential lending options.
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. But you may be able to withdraw money from your prepaid debit card and pay the lender directly.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf.
See full bio
I have searched for a payday loan without a bank account. The ones that I thought would work require a bank account! I get paid from my employer weekly via a debit card. I want to find a payday loan company that will help me. Thank you kindly.
Finder
RenchJanuary 31, 2018Finder
Hi Nancy,
Thanks for your inquiry.
I understand you need a debit card payday loan. The lenders that accept applicants without a bank account are listed above. Best to check each of the lender and see if they offer loans to people in your state. I also suggest to get in touch with them directly to confirm your options and eligibility.
Best regards,
Rench
DeannaDecember 28, 2017
Im on ssdi and I only have a debit card, my check is deposited on the 4th friday of every month. Do I qualify for a loan ?
ArnoldDecember 28, 2017
Hi Deanna,
Thanks for your inquiry.
We do have a list of loans for pensioners. You may want to get in touch with the lender you are interested in, to discuss your eligibility given that you are on SSDI.
Hope this information helps
Cheers,
Arnold
PamelaDecember 22, 2017
I would like a debit payday loan. I need it to do Christmas shopping. This Christmas for us doesn’t look too good. My husband is a disabled vet. And he hasn’t started getting his disability yet. So it’s just me working.
Finder
RenchDecember 23, 2017Finder
Hi Pamela,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
If you need a loan but only have a prepaid debit card, there are lenders that allow loans without bank accounts that you may be eligible for.
You may still be approved for a payday loan even if you do not have a bank account as long as you meet the lender’s eligibility requirements. So please make sure that you check all the eligibility criteria and read through the Terms and Conditions before applying and making a decision on whether it is right for you.
Best regards,
Rench
LoriDecember 19, 2017
Can I get a small payday loan with no bank account and my social security award letter?
Finder
RenchDecember 20, 2017Finder
Hi Lori,
Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
Yes, it is still possible for your to get a loan if you do not have a bank account. There are lenders that allow loans without a bank account that you may be eligible to apply for.
Please check the terms and conditions before applying and making a decision on whether it is right for you.
Best regards,
Rench
DanielleDecember 8, 2017
I do not have a bank account only prepaid debit cards and recently lost my job and need a loan since it’s the holidays help me please what are my options. Desperate mother here.
Finder
RenchDecember 9, 2017Finder
Hi Danielle,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
There are lenders that offer loans to those unemployed, but you’ll need to be earning some form of income or have suitable income-earning assets to repay the loan. These lenders will access your banking history and financial documents to verify that you’ll be able to repay your loan so you need to have an active bank account.
If you do not have a bank account and you are looking into getting a loan, try applying with lenders that allow a loan without a bank account instead and see if they can consider you.
Check City offers payday loans and installment loans to people looking for money quickly regardless of credit score. Read about other similar providers.
Spotloan provides next day funding when you need money fast, but it is a tribal lender with sky-high APRs. Find other providers with similar services but much better rates and terms.
OpenCashAdvance.com specializes in what is known as cash advance loans, which are payday cash loans. Learn more about them here.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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I have searched for a payday loan without a bank account. The ones that I thought would work require a bank account! I get paid from my employer weekly via a debit card. I want to find a payday loan company that will help me. Thank you kindly.
Hi Nancy,
Thanks for your inquiry.
I understand you need a debit card payday loan. The lenders that accept applicants without a bank account are listed above. Best to check each of the lender and see if they offer loans to people in your state. I also suggest to get in touch with them directly to confirm your options and eligibility.
Best regards,
Rench
Im on ssdi and I only have a debit card, my check is deposited on the 4th friday of every month. Do I qualify for a loan ?
Hi Deanna,
Thanks for your inquiry.
We do have a list of loans for pensioners. You may want to get in touch with the lender you are interested in, to discuss your eligibility given that you are on SSDI.
Hope this information helps
Cheers,
Arnold
I would like a debit payday loan. I need it to do Christmas shopping. This Christmas for us doesn’t look too good. My husband is a disabled vet. And he hasn’t started getting his disability yet. So it’s just me working.
Hi Pamela,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
If you need a loan but only have a prepaid debit card, there are lenders that allow loans without bank accounts that you may be eligible for.
You may still be approved for a payday loan even if you do not have a bank account as long as you meet the lender’s eligibility requirements. So please make sure that you check all the eligibility criteria and read through the Terms and Conditions before applying and making a decision on whether it is right for you.
Best regards,
Rench
Can I get a small payday loan with no bank account and my social security award letter?
Hi Lori,
Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
Yes, it is still possible for your to get a loan if you do not have a bank account. There are lenders that allow loans without a bank account that you may be eligible to apply for.
Please check the terms and conditions before applying and making a decision on whether it is right for you.
Best regards,
Rench
I do not have a bank account only prepaid debit cards and recently lost my job and need a loan since it’s the holidays help me please what are my options. Desperate mother here.
Hi Danielle,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
There are lenders that offer loans to those unemployed, but you’ll need to be earning some form of income or have suitable income-earning assets to repay the loan. These lenders will access your banking history and financial documents to verify that you’ll be able to repay your loan so you need to have an active bank account.
If you do not have a bank account and you are looking into getting a loan, try applying with lenders that allow a loan without a bank account instead and see if they can consider you.
I hope this helps.
Best regards,
Rench