How It Works
What are payday loans and how do payday loans work? There are different names for payday loans. Some of them are called cash advances, payroll advances, payday advancd so on.
Payday loans are short term loans. Usually the term is one month. When lending you money, a lender charges some fees.
Most shopfront locations ask you to provide them with a physical check to secure the payday loan. Online payday loan companies just take an ACH (Automated Clearing House) authorization in order to secure the loan, the same process your employer uses to deposit your paycheck each month to directly to bank account. Moreover, online lenders save your time and keep you away from the hassle of having to drive to a venue and then wait in lines if it is busy.