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.
On this page you’re looking at, kindly choose your state to know first the lenders that you may apply for a loan in your area. Since lenders supply a new debit card for approved loans, they typically partner with certain prepaid card providers. Kindly check with the lender you’re interested in to see if NetSpend is one of their partners.
You may get a payday loan with your Paypal Mastercard debit card. Please note that some lenders might supply a new debit card that they typically in partner with. Please check with the lender you’re interested in to see if they may send your fund to your Paypal card.
You may still get a loan if you have just started a job. Basically, lenders will require access to your banking history and financial documents in order to verify that you’ll be able to repay your loan. Every lender has its own minimum income requirement. It can vary from a few months’ employment to simply having proof of regular income. Our personal loans for new employees page will help you compare and see which lender suits you. Check the minimum time employed column to see which lender you may apply for a loan with. You may click on the green Go to site button of the provider to be redirected to their official page where you may start your online application. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Thanks for getting in touch with Finder! To get a payday loan, you’d need a physical prepaid card and unfortunately, cash apps won’t be accepted. Hope this clarifies!
Thanks for getting in touch! The information above shows how you can apply for a loan with a prepaid debit card. Start by checking the lenders on our page above. As a friendly reminder, 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.
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Which payday loan company deposit on to Netspend prepaid card?
Hi Rene,
Thank you for getting in touch with Finder.
On this page you’re looking at, kindly choose your state to know first the lenders that you may apply for a loan in your area. Since lenders supply a new debit card for approved loans, they typically partner with certain prepaid card providers. Kindly check with the lender you’re interested in to see if NetSpend is one of their partners.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can I get a payday loan with a Paypal card?
Hi Luis,
Thank you for getting in touch with Finder.
You may get a payday loan with your Paypal Mastercard debit card. Please note that some lenders might supply a new debit card that they typically in partner with. Please check with the lender you’re interested in to see if they may send your fund to your Paypal card.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Hey,
I was wondering what if you just started a job, can you still get a loan?
Hi Rodney,
Thank you for getting in touch with Finder.
You may still get a loan if you have just started a job. Basically, lenders will require access to your banking history and financial documents in order to verify that you’ll be able to repay your loan. Every lender has its own minimum income requirement. It can vary from a few months’ employment to simply having proof of regular income. Our personal loans for new employees page will help you compare and see which lender suits you. Check the minimum time employed column to see which lender you may apply for a loan with. You may click on the green Go to site button of the provider to be redirected to their official page where you may start your online application. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can you use the cash app card it has a routing number
Hi Peggy,
Thanks for getting in touch with Finder! To get a payday loan, you’d need a physical prepaid card and unfortunately, cash apps won’t be accepted. Hope this clarifies!
Best,
Nikki
I would like to try to get a loan on pre-paid debit card. I just got one
Hi Valerie,
Thanks for getting in touch! The information above shows how you can apply for a loan with a prepaid debit card. Start by checking the lenders on our page above. As a friendly reminder, 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!
Best,
Nikki