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Payday Loan Direct - Wire Transfer into Your Account

Payday loan direct is a quick means to deliver you the required amount of money quickly. As the name itself indicates, when you apply for this kind of payday loan, money is directly deposited into your account. The entire process takes place online right from submitting the application form to receiving the money to making the repayments. This is the solution for you if you need money now and your payday is a week or two away.


People who opt for a payday loan usually are in urgent need for cash due to unexpected expenses such as urgent car repairs, overdue medical bills, outstanding school fees, etc. Quick cash loan can be obtained up to $1000 with your next salary as the only mean of collateral. Generally the loan terms are setup for a short term, some time between two and four weeks. In that period, you should have had your salary received so you can make the loan repayment on time.


No Manual Intervention


Getting money direct in the account without any manual intervention is the most attractive feature of payday loan direct. Many people feel shy when it comes to borrowing money from someone. When you use this option you are spared from talking to anyone in person for borrowing money. Moreover, you do not even have to go to a bank for depositing the check.


Another advantage of payday loan direct is that, since the entire process is electronic, there is no hassle of paperwork. You do not have to fax any documents for the verification of facts stated by you in the application form. Lenders of these loans do not think it necessary to perform any credit check either. It may be because the amount of loan doesn't exceed dollars 1,000 usually. The only security in these types of loans is your paycheck.


Requirements


The minimum age for borrowing payday loan direct is 18 years. Other requirements include that you should have a monthly income not less than one thousand dollars. Stability of employment is another requirement for eligibility. That is why companies offering payday loan ascertain before approving that you have been with the same employer for at least three months. There may be some lenders asking for extra eligibility norms.


These days, with the advance of technology many lenders are offering faxless application which significantly cuts off the need to fax any paperwork as part of the processing procedures. The approval time can be greatly improved resulting on the speed of your fund transfer.


It is possible to get a quick payday loan directly transferred into your account in 24 hours. When you need money urgently you will want to apply for an express payday advance. Check out also how to get a payday loan with no teletrack required here.


Source: www.articlesphere.com