Instant Cash Advance

Have you run into unexpected expenditures in the last month and need cash before your next paycheck? Well, while there has still been no sighting of money growing on trees, there is a solution to your financial woes. cash advances can provide you with the cash you need to take care of any and all expenses until your next payday.


What are They?


There are two types of cash advance systems for those of us who are looking for some financial assistance until payday. The first, often called payday loans, is a system of lending in which a borrower is given cash in the form of an unsecured loan. The other is attached to an already existing line of credit and allows cardholders to withdraw cash out of a credit account for a small fee.


Cash Advances:


A cash advance is provided as a service through most credit card distributers.  The service allows cardholders to go to a bank teller or ATM and withdraw cash, up to a certain limit, using their card.


How Much Can I Withdraw?


The amount one can withdraw is based on your credit limit. The maximum amount of money you can take out is usually some percentage of whatever limits your bank or financial agency has placed on your card.


What’s the Catch?


Sound too good to be true? Well, cash advances do incur fees. To replace a card’s interchange fee (the money banks pay each other for the use of their cards during transactions), you will be charged a small amount of money when you receive your cash. These fees are usually a tad bit more than the interest you would pay during a store purchase, but usually do not accrue a ton of interest if paid off every month. However, if the line is in credit, there is a chance that your bank will waive the fee. So, be sure to familiarize yourself with your company’s policies before taking out any type of money.


There are also certain types of purchases that one can make with a credit card that most banks will classify as cash advances. Things such as money orders, gaming chips, and lottery tickets will generally stick you with higher interest rates and a short interest-free grace period.  Certain government taxes and fees will also come with the same kinds of restrictions.


Payday Loans:

A payday loan is an unsecured loan provided by a lending store. The loan is unsecured, meaning that instead of providing the lender with some sort of collateral, you will provide them with your credit history. The strength of your credit usually determines whether or not you’re eligible for the loan. Payday loans can also be acquired by going to as your online lender. The process is relatively simple, provided that you remain in the know about what money you owe and where your money is going.


How Does it Work?


First, you request a certain sum of money—however much you need to tide you over. It is important to borrow only what you’ll need until your next paycheck to avoid paying more fees. Then, gets all the information they need to get that money to you (bank accounts, employer’s info, etc).  Once your payday arrives, you simply pay back with the amount in your paycheck along with a small fee for their services.


The specifics of each loan are different, as are the laws that regulate loans in general, so you’ll want to check them out before making the decision to take out a loan in the first place. The smarter you are about the process, the fewer problems you’ll have in the long run.


Where Can I Go?


Lending stores are the more traditional model for borrowing money and offer you the benefit of getting cash fast and having someone there to answer all your questions along the way. Not all lending stores have the same policy, so feel free to do your research before you take any money out. If anyone you know has taken money out before, ask how their experience went. Or, do a quick online search to see which lending stores have the best reputations for customer satisfaction. A safe bet is to use and Think of it as searching for a bank—you want one with the best benefits, the best reputation, and the least amount of fees. It’s your cash, so use it wisely!


How to Do It:


  • Visit a payday lending store close to you. Here, you’ll apply for a small cash loan with the expectation that you pay the loan back when you get your next paycheck.
  • Lending stores will perform a standard credit check or verify your employment before doing business. This might require you to provide some sort of pay stub or bank statement.
  • In most cases, you’ll write out a postdated check to the lender for the amount of the loan, and the lender will cash it on the day of your next paycheck.
  • You’ll need to return to the store in person to repay your loan as well as the interest on the loan.


Or, if you wish to do it online as a more convenient option…

  • Go online to and apply for the loan via a loan application.
  • Since you will provide your account information online, the money will be deposited right into your bank account.
  • On the day of your next paycheck, the money you owe will be taken directly from your account by the lender, and the transaction will be complete.




While cash advances and payday loans provide a quick fix to emergency cash flow problems, there are things that all borrowers should be aware of. Know the laws and regulations in your state regarding these types of loans, and make sure to look over any and all policies before signing on the dotted line. Being informed is the most important thing you can do to avoid being “taken to the bank.”

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