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EZY Payday Cash Frequently Asked Questions

FAQ PeopleQ: What is a Cash Advance, Payday Loan, or Paycheck Loan?
A: A Payday Loan (or a Cash Advance Loan) is a short term Quick Loan that is repaid with a preauthorized electronic withdrawal from your bank account on your next payday.

Q: How Do I Qualify for a Loan?
A: Qualifying for a payday advance is easier than qualifying for traditional credit. Your job and your paycheck act as your collateral. You only need to meet the following requirements:
• Currently have a job (or receive regular income)
• Make at least $1000 per month
• Are 18 years of age or older
• Have a checking account or savings account with direct deposit

Q: I would like to get a payday loan. How do I receive my cash?
A: The payday loan/cash advance is wired directly into your bank account within hours.

Q: How is the payday cash advance loan amount determined?
A: State law regulates and limits the maximum advance amount to between $50 and $500. Within that range, you qualify for a payday advance amount based on your current income.

Q: How do I find out if I'm approved?
A: We'll send your approval by e-mail or phone within hours. Once you're approved, the funds requested in your application will be transferred by direct deposit to your bank account.

Q: When do I get my money?
A: Oftentimes you will receive your funds the same business day. The bank may require an extra day to make the funds available in your account.

Q: What are the loan fees for the cash advance?
A:  See attached fee schedule.

Q: I want $500, why can't I get a loan for over $300?
A: Based on our review of your application, you may be approved for up to a $500 cash advance. However, all new customers that are approved will be issued an initial advance for up to $300. Once you have established a history with EZY Payday Cash you will be eligible for new advances up to your approval limit.

Q:  Is my transaction confidential?
A:  We respect our customers' desire for privacy in managing their personal financial matters. The payday advance transaction is confidential, and your personal information will be treated accordingly.

Q: What happens if I don't have the funds necessary to repay the advance on my due date?
A: Just like you, we hope this doesn't happen. But if it does, EZY Payday Cash is committed to collecting past due accounts in a professional, fair and lawful manner. If your check is deposited and returned by your bank due to insufficient funds, EZY Payday Cash may charge a returned check charge if permitted by applicable law. (You should be aware that most financial institutions will also charge an NSF fee for a returned check and in some circumstances might revoke your checking account privileges.) You will be responsible for full payment of your account, including the returned check charge. We will contact you to collect the amount due. If necessary and appropriate, your account may be turned over to a collection agency.

Q: When can I request a cash advance loan?
A:  Anytime! If you are a new customer, simply fill out the application and follow the directions. If you are an existing customer, you can login to your account and click "Apply for New Loan."

Q: What if I am self employed?
A: We require you to show us the last 3 months of bank statements to show us your income.