Sometimes you may need a payday loan but you do not have a debit card which some lenders require you to have in order to qualify for a loan. This can be problematic for some people as they may not have a card or may not be able to get one from their bank.
However although this is a strict requirement with many loan providers other lenders may be more flexible when it come to proving you with a short term loan. Payday loans where no debit card is needed can be acquired form providers who are able to accommodate other methods of loan repayment. It may be acceptable in these cases to provide a post dated cheque instead of having to provide your card information.
So if you need a fast cash loan and you do not have a card associated with your bank account then it still may be possible to get a loan. You will however need to meet some other basic requirements, some of which are needed by law in the UK. The first and foremast is that you have to be a UK resident of at least 18 years of age. A loan cannot be provided to anyone younger than this or who is not a UK resident.
You will also need to have a bank account, this should be the bank you pay any income into. This will be the account that the lender will pay your loan cash into once you are approved. As we mentioned before a debit card that can be used with this account is preferred as it will make it easier for you to get approved.
The amount you can borrow will depend on a number of factors, the most important of which is your source of income. Generally payday loan providers require you to be in full time employment and earning a minimum specified amount. This minimum amount does vary from lender to lender so it is worth shopping around.
It is sometimes possible to get a loan if you are not currently in full time employment. If you work part time or are self employed it still may be possible to lend you money although it may not be as much compared to if you were fully employed. Some lenders do take into consideration people with other sources of income including benefits, the disabled and the unemployed.
Once approved for a no debit card payday loan your money will be transferred directly into your bank account via direct deposit. The speed of which this occurs does depend on the complexity of your situation and how early in the day you applied. Generally it is aimed to have your money with you the same day but if no the very next day.