About payday online loans
An online payday loan is the simplicity of the application process. No fax payday loans, as the name suggests, require no faxing, as long as you can provide proof of employment through your online banking, and there are no paper forms to fill out. Also, unlike a bank loan application you will usually know whether you have been approved in 10 minutes or so. When the loan is due the funds are debited directly from your bank account by Electronic Funds Transfer. If you are late in payment there may be additional fees, but you can usually avoid them by contacting us beforehand. In the more recent innovation of online payday loans, consumers complete the loan application online. The funds are then transferred by direct deposit to the borrower's account, and the loan repayment and/or the finance charge is electronically withdrawn on the borrower's next payday.