Payday Loans That Accept Prepaid Accounts

What Are Prepaid Accounts?

Prepaid accounts or prepaid cards are financial instruments that allow a customer to load money onto a card and then use those funds to make purchases. Just like a normal bank account, users can add money to their prepaid card using cash, online money transfer, or getting online payday loans. Once the card is funded, they can use it to pay for goods and services or withdraw cash at an ATM.

The main difference between normal bank cards and prepaid cards is that the prepaid card can be bought anywhere by anyone, regardless of their financial standing. All you need is to buy a card, load money, and you can use it as you please. This main feature of prepaid cards made itself very popular among people with an unpleasant credit background who can’t get a new bank account created at the bank.

What Are The Pros And Cons Of Payday Loans That Accept Prepaid Accounts?

Prepaid cards are becoming more popular as an alternative to traditional bank cards, especially among people who don’t have a bank account or who have trouble qualifying for one. Based on our website request record, more and more people who visit US Installment Loans are having a prepaid account instead of a regular bank account.

Due to the increasing demand and consumer base, more and more lenders that provide online payday loans are already adding prepaid account fund release support. If you want to know more about the advantages and disadvantages of this loan type, here are a few.

Pros:

• No usage limitation
• Easy to receive funds compare to a bank account

Cons:

• Not good for those who don’t have a credit background at all
• Can incur more fees and higher interest rates

How Does US Installment Loans Compare?

		Why Us
How much do I qualify for?	Up to $35000	Competitive rates
What's the max loan length?	Up to 36 months	Fast decisions
Do lenders check my credit?	Yes	Soft credit checks
All credit levels accepted?	Yes	Bad credit doesn't matter
Chances of approval	Good	High approval rates
When am I allowed to apply?	24/7 online	Easy application

Get Started

What Should I Know When Getting A Prepaid Account Payday Loan?

Payday loans with prepaid cards present a lot of advantages, such as ease of use. However, just like any other loan type, there are also several factors that you need to consider when getting a prepaid payday loan.

• Choose your lender type. Bad credit direct lenders with physical locations may be able to assist you personally, but online payday loans are faster, more convenient, and have more options with more possibilities.
• Consider eligibility. Prepaid account payday loans may not be as strict or as technical as banks, but they still definitely have eligibility requirements – although they are definitely much easier to meet.

Where Can I Find Payday Loans That Accept Prepaid Accounts?

Not all payday lenders offer payday loans for prepaid accounts, but there are plenty of them out there – if you know where to look. To save your time, we rounded up some of the top-rated online loan platforms for you to check their outstanding prepaid account payday loans services.

• CashAdvance. CashAdvance owns a network of trusted lenders that boasts safe and secure processes and can connect you to lenders that offer prepaid card loans.
• iPaydayLoans. As its name suggests, iPaydayLoans cater to payday loans, and their lenders also accept prepaid accounts.
• US Installment Loans. With years of experience in providing online loan services, US Installment Loans allows you to easily get various loans.

As you can see, many websites can provide you with lenders that accept these types of loans, but if you are looking for a streamlined service, you should look no further than US Installment Loans. US Installment Loans took years to improve our service standards and offer a user-friendly request submission process for all current and potential customers. Here are the simple steps to get an easy payday loan that accepts prepaid account deposits;

1. Submit your information. Fill out our online form with your basic information and submit required supplementary documents through our secured online portal.
2. Pick your offer. We will forward your information to our pool of lenders, which will then return you with different offers. Pick the suitable one for your needs.
3. Review documents. After picking the right one, review the loan agreements and confirm with your lender.
4. Get your funds. Have a prepaid account? Not a thing to worry about! Receive the funds on the prepaid card that you provided just like usual!

What Do I Need In Order To Get A Payday Loan With A Prepaid Account?

Although online lenders are certainly less strict than banks, there are some things you must prepare and consider before applying for a payday loan, such as the following.

• Personal details. You will have to provide personal identification and other information such as residency and valid contact information.
• Ability to pay. You don’t need to be a regular employee, but you do need to show that you have a source of income to be eligible for a payday loan.
• Account. You need your active account details to receive your funds.

We work closely with our lender network at US Installment Loans to provide easy approval and instant payday loan services for every valuable customer. Since these requirements aren’t as strict, they are therefore more likely to be met by more consumers – even those with bad credit. However, lenders may apply additional requirements or charges due to specific circumstances and each applicant’s financial profile.