Same Day Payday Loans

Written by Patricia Tunstall
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Same day payday loans can be approved the same day you apply, and the funds electronically transferred to your bank that same day. If your bank is efficient, the actual funds will be credited to your checking account the next day. Of course, all of this applies to the regular banking week, Monday through Friday. Applications approved on Friday will have small cash loans available the following Monday.

The loans range from $100 to $500, but the most that first-time borrowers can request is $350. Once you have a good track record of repayment, your maximum will be $500. The actual amount approved, however, depends on the information in your application, which must be verified and analyzed.

Requirements for Same Day Payday Loans

There are some requirements for these same day payday loans. You must have a job, or some other verifiable source of income. Because you are conducting business online, you must have a valid email address. A home phone must be listed and you must be at least 18 years of age.

Finally, you must not only have a checking account, but it must be in good standing, which means several things. For the previous 30 days, there must be no non-sufficient fund transactions, no returned checks, and no overdrafts. Above all, there cannot be a negative balance, as payday loan companies will not make deposits into such accounts for same day payday loans.

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