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Why Is It Not Good to Go to a Check Cashing Store? ?>

Why Is It Not Good to Go to a Check Cashing Store?

Does a Check Cashing Store Give You a Payday Loan?

Check cashing stores are outlets that help people with no bank accounts to cash their checks. They charge a fee and that usually gets deducted from the check’s original value. For example, if you went with a check of $400, they would give you cash worth $390, and $10 would be treated as the fee. Checks of any kind- from payroll loan checks, personal checks to government checks etc. can be cashed in these stores. However, that is not all that they do. They also offer numerous financial services such as bill payments, money orders, currency exchange, debit and credit cards; and even payday loans. Yes, check cashing stores also provide payday advances.
When it comes to payday loans, these stores function like any other store based payday lenders, but there is a catch. In these outlets, you have to write a check before you are funded. It is actually a part of the application process. For example, if you need a cash loan of $500, you have to write a check of- let’s say $600 (the actual amount may differ) with or without an issuing date. Some stores also work as online lenders in many states in the US where you can apply online.

Why Is It Not Good to Go to a Check Cashing Store?

As we just mentioned, you have to first visit a store physically and carry your documents with you. You still need to establish your ability that you are writing a check that is authentic, and your account will have money on the due. Therefore, a proof of income and bank details would be required. Another thing that borrowers like you do not like about the check cashing stores is that the check that you write does not have an issuing date, and it is the store that gets the freedom to put a date on the due- or at a time that suits it. It could lead to bank frauds at times.
On the other hand, you have many direct lenders such as EZPaydayCash that offer you payroll loans online without any office visit. On top of that, you don’t have to write a check in advance. On the due date, the payment will be made automatically without any action from you. This is a much safer business in comparison and saves a lot of time. The application process takes hardly a few minutes which can be completed via a smartphone or computer. Therefore, take out a payday loan online, and do safe borrowing.

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Consumer Notice: A payday advance is a small, short-term loan intended to cover a borrower's expenses until the next payday. Payday advances are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory assistance. Consumers are encouraged to learn more about the risks involved with payday advances, local laws and regulations that may apply to payday advances, possible loan alternatives and recent developments in their state.

Legal Disclaimer: EZPaydayCash.com is a legitimate direct lender authorized to lend money to genuine borrowers where the interest rate, term and maximum amount that can be borrowed are solely decided by the company. Without authentic and verifiable information in the application, funding by no means is guaranteed. Upon requirement, the prospective borrower is expected to provide additional document/information- failing which would result in rejection of the loan application. While reviewing loan applications, we typically do not perform credit checks with the three major credit reporting bureaus (Equifax, Experian and TransUnion). However, soft credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, which typically will not affect your credit score, may be obtained in certain circumstances. You will not be charged any fees to use EZPaydayCash.com's service. Learn more by reading our Rates & Fees section. To change your communication preferences for this website or to submit a comment or question you can contact us.

Availability: Residents of some states may not be eligible for a payday advance based upon lender requirements. EZPaydayCash.com does not guarantee that completing an inquiry form will result in being offered a loan product with satisfactory terms or rates. It also worth noting that any loan request submitted on Friday after 6:00 PM EST will be processed on the next business day. For inquiries related to our services you may Email us at support@ezpaydaycash.com

****Loans are NOT available to residents of Arizona, Colorado, Georgia, Kansas, Massachusetts, Minnesota, New York, New Hampshire, Oregon,
Pennsylvania, Tennessee, Vermont, Washington, West Virginia, Puerto Rico****