Get a Payday Loan on a Prepaid Debit Card

September 22th, 2022

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Have you found yourself in a tight corner due to budget crashes? Have you been rejected by banks and credit unions when accessing a necessary sum to put up with a tight financial situation? We have some great news for you. The bad credit score is no longer a stumbling block on the way to your budget freedom. Quick money has grown into a more flexible and advanced service available for borrowers with bad credit or even no valid checking account.


Sound too good to be true? Well, it appears that most cash advance providers do not check the credit score as it stands. This fact results in wider borrowing options for customers in different conditions. What’s more, the absence of a banking or checking account would also hardly be an obstacle. All you need is a financial alternative in the face of a prepaid card and several minutes to qualify.

To clarify the things for you, bad credit loans do not differ a lot from other financial services of the same type. The difference is higher rates and consider shorter repayment timeframes when compared to typical financial assistance met in banks. Provided by both physical and online lenders, such quick money is pretty easy to obtain. Let’s have a closer look at how the system works out there.

How to Get a Loan if I Only Have a Prepaid Debit Card

Obtaining a prepaid card means, getting a necessary sum without actually opening an account. That would be a huge problem when opting for traditional financial organization. Moreover, you would be rejected in 100% of occasions, as your banking account will be checked in the aim of tracking the spending, revenues, and so forth to decide whether you are a responsible borrower or not

Luckily for the industry as well as customers, in particular, out-of-date loan services are dying off. New financial services come as a more flexible and advanced alternative. In a situation with no valid account when the prepaid card appears to be the last straw, you may still count on fast cash advances. Borrowers may count on at least 3 different types of instant financial assistance in case of bad credit or no checking account.

Top 3 Loan options for People with Prepaid Debit Cards

As we have stated before, the absence of the savings account is not an obstacle on the way to the desired sum. Different lenders neither use that info to track your spending history and savings nor check the credit score. It results in various alternatives in search of urgent cash. Here are some options you may count on:

#1 – Payday Loans

It is as easy as it sounds. Fast cash providers rarely check the way you handle your finances (this is actually why you need a bank account). They mainly pay attention to other details and points from the borrowers’ application. To get approved, you will need to have:

  • Proper age.
  • Steady place of work.
  • Enough level of salary (that level may vary from lender to lender. Sometimes $1,000 per month is enough to get your cash).

Getting such financial assistance is fast and easy thanks to online agencies and companies with a solid web presence.




#2 – Debit Card Loans

This particular type of loan does not require having an account. All you need is a debit card to let the lender actually load t with necessary cash within a given period. In other words, no money transferring. You only indicate the card during the application and get necessary funds. Here are some features that define this particular type of financial service:

  • Huge APR rates. They may go up to 700%.
  • It takes about a day for the lender to approve.
  • You may access the loan both online and physically.

The rest of the requirements are typical, especially in terms of age, salary, job, etc. The key downside here is an enormous fee. Depending on a lender, the APR rate may range from 200% to 700%. Think twice whether you need it.

#3 – Loans in Bitcoin

Cryptocurrency does not require saving accounts on default. It is used to oppose traditional funding and the financial system in general. The service is relatively new to borrowers. For this reason, there is not average APR as well as maximum or minimum loan amount. Each lender establishes its own commissions, fees or timeframes.

The general requirements also vary. But what we know for sure, you will NOT need a checking account and you WILL need a Bitcoin wallet. BTC may be sued to pay online. Most of the huge marketplaces already support various cryptocurrencies. So, the solution might be a good pick.

Payday Loan with a Prepaid Debit Card

Debit card cash assistance is probably the best solution for people who do not have a valid account. The key benefit here is that the loan type itself does not require having an account. It results in two crucial advantages:

  • There is actually no possibility to track your financial history.
  • Customers are not obliged to create new accounts and have the cash transferred on them.

Let’s figure out, how everything works down here. When you apply, you need to fill in the spaces provided both online or visit the lender’s office physically. The main challenge here is to meet several baseline requirements and indicate the sum you want to access. This is where similarities with traditional loans come to an end.

Once approved, the whole sum will get on a prepaid debit card. It may be obtained in the nearest grocery store or mall.

The company loads your card with cash while the borrower has to repay that sum within a negotiated period. Some companies prefer sending money by mail (for example, check). The method also does not require having a valid account.


  • Repeated funding. It means you may apply for cash again and again.
  • Easy application process. All you need is to get the card and fill in the form.
  • Bonuses and discounts. Both lenders and stores offer rewards, so-called cashback, and special offers every time you use the card.


  • Commissions may be too high. As we have noted before, the APR rate may go up to 700%. So, read the agreement carefully before signing it. Look for the most moderate rates among the companies online.

Cash Advance with Prepaid Debit Card

This particular type of loan works practically the same as the previous one with only some slight differences. The idea is pretty simple: you get the prepaid card and use it to withdraw cash in ATMs instead of paying with it in stores or online.

Here is how it works:

  1. You get a prepaid debit card and apply for cash.
  2. Once approved, you get funds on your card.
  3. User the card to get paper money in ATMs.
  4. Every time you withdraw money, the sum is automatically added to your balance.
  5. You repay as per the agreement.

Just like with the previous financial service, you are not supposed to have a valid account. The requirements are almost the same. However, borrowers should note that lenders here have full freedom of establishing actually any commission or APR rate they want. At the same time, you also need to consider three essential points that define this particular loan type:

  • Additional Fees. Get ready to pay extra commissions and fees for using the prepaid card. As a rule, that fee is somewhere between 3% and 5% on the amount you withdraw.
  • Commission Free Period. As a rule, it lasts for 30 days from the first time you use the card. If you manage to repay within that period, you will benefit from lower or even zero commissions.
  • Secured Cards Only. This one applies to people with no accounts. A secured card means safety balance reserved by the lender. A borrower is not able to exceed that balance, which results in serious financial limitations.

The solution might work well if you are put in a tight corner. Moreover, lenders do not care about your credit score as well. Borrowers may take advantage of more flexible repayment schedules. The major downside here includes huge APR rates and commissions if compared to traditional credit card loans.

Payday Loan with Prepaid Checking Account

Those who are not in the mood of getting a prepaid option either for using the card in stores or for withdrawing, this particular type of financial assistance might do the trick. It is actually the same as the first loan alternative we have described with the one and only difference: you open a prepaid checking account instead of getting a prepaid debit card.

As a rule, such cards have no connection with the account. In other words, it is not crucial to open it separately. Some companies offer online registration process that usually takes a couple of minutes to complete. Depending on the conditions established by the lender, the account will belong either to you or to the company. If you are the owner, you may use it later. If the account is opened by the lender to provide you with a loan, it will be active only until the agreement is in force.

Here is how it works:

  1. You access the service with no obligations to open an account of your own.
  2. The agent opens an account for you with the sum you need.
  3. You withdraw paper money and then repay.
  4. Use the account for further cash services and advances.

The rest (requirements, APR rates, commissions) is the same as in prepaid debit card loans.

Quick Cash Loans with no Bank Account

Financial services are evolving. What looked strange and impossible 5 years ago has become a reality today. One would hardly believe a person with no checking account could get fast cash. Modern companies have brought that idea to life.

Low wages, bad credit, no account or steady place of work are no longer an obstacle on the way to financial freedom. If you have any of those, you may still make the most of financial services delivered online. Borrowers may always count on:

  • Zero Balance Check. Lenders do not care about how and where you spend your money.
  • High Approval Percentage. Your application is reviewed on the same basis. You have all the chances to get necessary cash within a single day.
  • Good for bad Credit. People with bad credit are welcome to apply.
  • Borrowers may get paper cash or have their prepaid cards loaded by the lender.

Instant Money Deal

As you may see, the financial niche offers various options to get instant financial support. While conventional loans are not available for people with a bad score or no valid account, you will no longer suffer from unexpected budget emergencies. There are plenty of options to choose from and get approved in no longer than 1 day not mentioning fast application process.

No Balance Check

While you do not have a savings account or else, there is nothing for lender to check. The reason why some companies do not care about your past revenues and spending is that they mainly care about your current financial position. They pay attention to:

  • Your ability to repay right here and right now.
  • Age and citizenship.
  • Place of work and monthly wage.

If you meet those requirements, the chances of getting fast cash are very high. However, we strongly recommend checking the terms before you sign an agreement. The best bet would be to pick several companies and compare them to identify the lender with the most suitable fees, repayment schedule, etc.

How Does Prepaid Debit Card Loan Work?

We have already described some major factors that define a prepaid debit card loan. It is different from the majority of other financial services delivered by lenders. The first and foremost difference here is that the borrower may not have a valid account. Why? To figure that out, let’s have a look at how it works.

  1. You need to qualify or access the loan. Find a suitable company online or live and provide the required data. To qualify, you also need to meet at least baseline requirements in terms of age, citizenship, job, etc. They may differ from company to company.
  2. Wait for approval. It usually takes 1 day to review the application and establish the verdict.
  3. Get a prepaid card. It may be established either by the lender or by the store, mall, online marketplace, etc.
  4. User the card to pay for products you need while the company will load the funds until you reach and negotiated limit.
  5. Repay within the timeframes as prescribed by your agreement.

As you may see, the procedure itself is very easy with no complex steps to take. While the entire industry evolves, users now have more flexible options to access that particular loan type. To sum up, let’s highlight 10 of its major benefits as well as reasons for people with bad credit or no account to access.

Top 10 Reasons to Consider a Prepaid Debit Card Payday Loan

Even the richest and wealthiest people have unexpected budget emergencies. A stolen credit card, banking system error, ATM breakdown – we can never predict emergencies that may result in an instant need for cash. While rich and wealthy people always have a plan B, what should a person do in the need of $200-$500 but without a checking account?

This is where prepaid debit card loan will do the trick. Here are 10 reasons to opt for such type of cash assistance:

  • Bad Credit is not a problem. While you do not have an account, there is nothing to check in terms of your credit score. The good news it is not the reason for lenders to reject your application.
  • No Balance Check. Accounts are mainly used by banks to track their revenues and spending. Debit card lenders use other criteria to evaluate the applicant.
  • Simple Application. Borrowers may choose from online or live agencies, which provides enough flexibility when accessing a loan.
  • Flexible Fees. In some cases, you may benefit from a 30-day commission-free period as well as lower AP rates if compared to other lenders.
  • Special Bonuses. Benefit from additional discounts, bonuses, and loyalty programs that may come with the prepaid card.
  • General Requirements. Make sure you meet some baseline requirements in terms of age, work or citizenship. That would be enough to get approved.
  • Fast Decision. It usually takes 1 day for the company to decide on whether to provide a loan or not.
  • Repeated Usage. When the debt is closed, customers may gen new cash assistance using the same card.
  • Eligible Services. The services are totally legal. It means that you are protected as the consumer while the government regulates the lenders’ actions.
  • Forget about checking accounts for good.

Summing up the above-mentioned, customers now have a new advanced tool for handling financial troubles despite the score or balance.

Can I Get a Payday Loan on a Prepaid Debit Card?

Payday loans that accept prepaid debit cards are making their way to the top list of fast and easy financial services. They have proved to be a handy instrument when coping with urgent financial needs featuring more than 12 million borrowers across the globe.


Prepaid debit card loans hardly differ from other types of payday loans. The process of accessing is pretty fast and does not require any paperwork. Borrowers are free to apply online and get their fast cash within 24 hours (the timeframes may change depending on the lender’s policies and conditions). Minimum requirements and a simple application procedure have made payday loans that accept prepaid debit cards a #1 choice for millions of people who urgently need cash.

How Do Debit Card Payday Loans Work?

As a rule, a borrower is supposed to have a valid checking (banking) account. It is the general requirement established by most of the payday lenders. On the other hand, prepaid debit cardholders can also access a payday loan despite the credit score and other factors that can appear to be a stumbling block when accessing a conventional loan at the bank.

The entire process consists of several fundamental stages. They are as follows:

  1. You need to find a company that works with payday loans that accept prepaid debit cards.
  2. The application is available only for short terms.
  3. Borrowers are free to apply both online and live.
  4. A borrower should open an eligible account.
  5. A lender will transfer cash to the eligible account in case of approval.
  6. The money you get will be registered as a prepaid debit card.
  7. A lender will hand the card to you personally or send it online.

In some cases, a prepaid debit card can be sent via email or even phone. All prepaid debit cards are generally issued by Visa or MasterCard. It means that you are free to use them whatever you like whether at ATMs, retailers, digital stores, etc.

A good news is that your card is reusable. It means that you can use it even after you have paid out the debt. Moreover, a borrower can turn to the same or another lender using the same prepaid debit card for another loan.

Reasons to Opt for Payday Loan on a Prepaid Debit Card

This type of loan can be rather helpful. It hardly differs from other payday loans when it comes to the applicationprocedure. No stressful paperworkand long approvals. The core benefits include:

  • No Checking Account to Apply – despite general payday loan requirements, you do not need to have a valid banking or checking account for this type of loan;
  • Approval Despite the Credit – poor credit is hardly an obstacle when getting cash on your prepaid debit card in form of a loan;
  • Instant Fund Access – you can start using money 24 hours after the approval. Your card will be activated the next day.
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