Questions

Questions

When applying for fast money with a cash advance, first time borrowers are likely to have some questions. To help provide insight into the process at fastmoney.com, we have taken the time to compile a list of common questions and easy to understand answers.

Questions regarding the status of a loan application, repayment, or extension opportunities must be addressed directly to the lender handling the loan. The lender's contact information will be provided to all borrowers after the application has been submitted.

1. What is a payday loan?

A payday loan goes by many names, such as a cash advance or a bad credit loan. A payday loan is a short term, unsecured loan that provides extra funds before payday. The loans usually range from 100 to 1000 dollars for first time borrowers, though this will vary from lender to lender. These loans derive their name from the fact that they are designed to be paid back on the borrower's next payday.

2. How do I know if I qualify for a payday loan?

It's simple! To be approved for a cash advance, borrowers only need to meet the following criteria:

-Be at least 18 years old
-Be a citizen or permanent resident of the United States
-Have a job (held for at least 90 days)
-Earn at least 1000 dollars each month (after taxes)
-Have current home and work phone numbers
-Hold a valid email address

3. How much money can I get with a payday loan?

Most loans range from 100 to 1000 dollars. Some borrowers may be eligible for higher amounts, depending on their borrowing history and take home pay. The maximum and minimum amounts will vary depending on the lender's unique policies.

4. How will I receive my fast money?

Once the payday loan is approved, borrowers will receive their funds via direct deposit. This electronic process puts money directly into the borrower's bank account for easy access and immediate use.

5. What if I have bad credit or have had to declare bankruptcy in the past? Can I still get a loan?

Of course! Applying for a payday loan does not require a credit check. Since lenders use the borrower's stable monthly paycheck to secure the loan, things like a bad credit score, bankruptcy, charge offs, or bounced checks simply do not matter.

6. How long does it take to get a payday loan?

Filling out an application can take as little as five minutes. As for receiving the funds, the majority of borrowers will see cash in their bank account by the next business day. All in all, most payday loans do not exceed 48 hours in total.

7. Will I need to print or fax anything?

Yes. It is always important to print the loan documents after you have been approved for a loan so you have a copy for your records. It is possible that the lender may request additional information via fax, such as a copy of a recent pay stub or a bank statement. If you do not have access to a fax machine at home, many office stores will provide fax services for customers.

8. How much does a payday loan cost?

The exact cost of a payday loan will depend on the lender and the amount of the loan. After borrowers submit an application, the lender will contact the borrower with information on price. Overall, borrowers should always weigh the cost against the need. Most people rely on payday loans for emergency cash needs. In these situations, a payday loan will usually cost less than late charges, check fees, or other costs that are associated with financial emergencies.

9. I already have a payday loan that has not been paid off yet. Can I still apply for a new one?

Certainly! Some borrowers with another payday loan outstanding may still be eligible for a cash advance. Borrowers must simply provide full disclosure of their outstanding loan while filling out the application.

10. How does repayment work?

Repayment is usually designed to coincide with the borrower's next payday. This means that most payday loans last no more than 7 to 10 days. Lenders now rely on automatic withdrawal to deduct the loan amount and fees from the borrower's bank account on the due date. This makes it easier than ever to pay back the loan. It is possible to get an extension if needed. Borrowers simply need to contact the lender before the due date. There will be additional fees on all loan extensions.

11. What if I do not have enough money to pay back the loan?

If for any reason borrowers do not have enough money to pay back their loan on time, they must simply contact their lender to work out an extension. It is imperative to do this before the loan is due. However, extensions will come with additional fees.

12. How can I trust that my private information is safe when I apply?

At fastmoney.com, the safety of our clients is of the utmost importance. To ensure the safety of all information processed on our site, fastmoney.com utilizes the most up-to-date security technology available. All transactions are encrypted. For more details on security, please read our Privacy Policy, which can be found on our Legal page.

13. What is the Return Customer feature?

We reward returning customers and work hard to make sure their experience is as easy as possible. For those who choose to use fastmoney.com multiple times, they may simply log in with the Return Customer feature on the right side of the home page. To use this login, borrowers must use the Customer ID and Password that were provided after submitting their first application. After logging in, return customers will find that their next application is already filled out! All return customers have to do is check over the information, update the pay dates, and submit!

14. I am interested in another loan. When can I apply?

Borrowers can submit another application after only 72 hours. All applications are free, regardless of the number that are submitted. Just always be sure to disclose any outstanding loans on the application form.

15. How do I find my Customer ID and Password if I lost them?

Under the Return Customer login on the homepage, there is a link for forgotten passwords. Borrowers must simply click on that link and supply their email address. Then, the Customer ID and Password will be emailed to you. If the system has no record of the email address you provided, all you need to do is fill out a New Customer application form and a new ID and Password will be assigned to you immediately.

16. Can I use my Customer ID to check my loan status?

No. The Customer ID is only used to fill out loan applications. For information on the status of the loan, borrowers should always contact their lender. Legally, lenders cannot share loan information with fastmoney.com. It will be important to have all relevant loan information provided in the confirmation email when contacting the lender.

17. How do I get a loan extension?

All extensions and refinancing needs to be done through the lender. Borrowers will receive the lender's contact information via email at the end of the application process. The lender will then follow up with information about approval, cancellations, payments, and extensions. Just remember to always contact the lender about an extension before the loan is due.

18. Is it possible to change or update my personal information?

Of course. When logging in as a Return Customer, borrowers should see their information already on the application form. Simply change the out of date information before submitting. Once the revised application has been submitted, the new information will be saved in the fastmoney.com system.

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Legal Disclaimer: In using this website you agree to our Privacy Policy and Terms of Use. A cash loan is a small, short-term loan that is intended for short-term financial relief and not to be a long-term financial solution. Consumers dealing with debt and credit difficulties should seek out debt and credit advisory help. FastMoney.com is not a lender and nothing on this website constitutes an offer or solicitation to lend. We do not function as an agent, representative or broker of any lender. We inform users of lenders that meet the users’ stated needs and charge no fee for this service. Residents of some states may not be eligible for a short-term cash loan based upon lender requirements. Completing an inquiry doesn’t guarantee that you’ll be matched with a lender offering your requested loan product. Users are under no obligation whatsoever to use our service or apply for any loan product. Lenders generally perform credit inquiries with credit reporting agencies or obtain consumer reports through alternative providers. By submitting your information, you agree to be contacted by lenders or their agents. This service and offer are void where prohibited.