Archive for

Minimize Payday Loan Lender And Bank Account Fees

“Will online payday loan lenders be able to make transactions into my bank account?” If your bank offers direct deposits of your paychecks then it will be accessible to direct payday loan lender transactions. Just as you would want to shop around for the best payday loan money option when needing extra cash, you will want to shop around for the best bank account to suit your personal needs.

Your personal finances should be top priority. Finding a bank account which will fit into your everyday needs without paying fees each month may take some shopping around.

* Do you want to use direct deposit or deposit your paycheck yourself? Some people like that feeling of placing their money into the bank themselves. If this is you, you would want to choose a bank in close proximity to your workplace or home. Choosing the direct deposit way may save you money on fees. Banks will often waive account fees when money is transferred electronically. Using this feature will also open you up to using direct payday loan lenders when your bank balance gets too low.

* Do you like to write checks or are you more apt to use debit cards for purchasing transactions? Some accounts will only have debit cards which can be used in many instances, while others are also used as a credit card which opens the user up to using the card anywhere a credit card is accepted.

* Are there easy ways to get money out of the account? ATMs are a great way to get fast cash out of your bank account. Find a bank which will offer free access for these transactions. Having to pay to get access to your own money may be convenient at times, but it is not a good practice to be in. Fees are charged by payday loan lenders for the use of third party money. This makes more sense; your money should be accessed for free.

* Banks are catching on to the new technology for smartphone or tablet apps. If this kind of banking is your style, then you will want to find a bank who offers these options. Some of the bigger payday loan lenders will also offer no fax loans which uses new technology to replace having to fax or email bank statements into the loan manager.

* Online banking should give you access to transfer money into other accounts. Some banks will also allow you to do this to accounts which are not linked to the savings or checking. When you have a savings account to pull money from when the demand to pay bills is high, you will be able to protect your account similar to a payday loan lender without the fees.

* Pay close attention to whether or not you will have enough money to keep your account free of charges. Some banks will expect a minimum balance in order to keep monthly fees disabled. If you cannot afford to keep that amount in there at all times, you will want to continue to shop for an account which you can afford.

Pay attention to the key components to your money transactions. This will save you money in the long run. Just as you would want to use an online payday loan lender with the smallest of fees, keep fees away or at the minimal possible when opening bank accounts.

Money Loan With No Bank Account – 5 Personal Loan Tips

Having a bank account opens you up to a world of opportunities. In fact, it lets you do so many things with your money that most checking account and savings account holders take them for granted.

After all, with a bank account you can access your cash from just about anywhere via the nation’s interlinked network of ATM machines. Having an account of your own also allows you to make credit and debit card purchases, whereby the money is debited right out of your account. And there are other benefits, as well, such as the availability of online banking, special bank-sponsored auto & mortgage loans, having a place to cash checks written to you, and the ability to earn interest on your money.

If you are short on cash, then having a bank account also enables you to take out a personal loan. Why? Because the majority of personal loans are of the unsecured type. This means that the lender does not require that you put up collateral. To partially compensate for this risky type of loan, the lender will require that the borrower have a bank account.

So, how do you get a money loan with no bank account? Here are 5 personal loan tips for people without bank accounts:

1. Consider borrowing from a pawn shop:

If you have something of value on hand, you can always try a pawn shop. They will appraise the item and allow you to take out a loan against it – with interest, of course.

2. Borrow money from friends or family:

If you do not have something of value to put up as collateral at a pawn shop, consider borrowing money from friends or family. Just be careful: if you are not able to repay the loan, you may be opening yourself up to some serious relationship problems down the road.

3. Borrow against a credit card:

Some people who do not have a checking account still manage to have a credit card. If you do, you can always borrow against it. Just remember: the interest rates will be sky-high, especially if you do not have a strong credit score.

4. Borrow against your car’s title:

Auto title loans are another form of high-interest loan. Essentially, you sign your title (car ownership rights) over to the lender. These are usually short-term loans, and when you repay the loan you get your title back in your name.

5. Apply for a checking account with a second chance checking bank:

If you want to avoid a high-interest loan but do not want to borrow money from someone you know, you should consider applying for a checking account at a second chance checking bank. These banks specialize in working with customers who have not been able to get accepted for a checking account at other banks. Second chance checking banks are in most ways just like other banks, and they offer the full range of services. The only major difference is that they are much more likely to grant you a checking account.

Consider these 5 tips for getting a money loan with no bank account.