Despite the fact that there are payday agencies that require you to have a checking account, it is still very possible to get payday loans with no checking account. The consensus among most lenders of payday loans is that people that want to take them out should be required to have a checking account to which the money can be transferred. Even thought there are a lot of lenders that require people to provide their checking account or savings account numbers before they get their loan money, there are some that do not require any checking account.

If no checking account is going to be required by some lenders, then how do they transfer you your money? These types of lenders will usually give you money in the form of cash or even a personal check. Getting cash or a check instead of having the money transaction go right through your checking account, you are getting payday loans without direct deposit. It is fairly common to get this type of cash-advance loan because most people do not want to give their lender access to their bank account.

How much money can you possibly get for payday loans with no checking account? Most of the time you will be able to get between $100 and $900 dollars. If you have good credit, you can usually take out more money from a payday loan agency because they will have more trust in you to pay off your interest. The interest for these types of loans, regardless of whether you are getting cash or working through a checking account is going to be sky-high. You should expect to owe approximately 100% interest after the first couple weeks that you get your cash.

The reason that a lot of people stay away from payday loans is because the interest amounts are crazy. There have been reported cases of people that paid over 550% interest on their payday loans; you should never pay this much. Always take your time when filling out the loan contract and make sure that you fully understand the documents that you are signing. People often get confused when reading about EAR (effective annual rate) and APR (annual percentage rate) on their loans. If you see a high EAR in your contract, you should really run away and find a different lender because your interest rate is going to be enormous.

You should know that just because you see an advertisement for the "payday loans no checking account needed" option, this doesn't mean you are going to get a good deal on your loan. A lot of times payday companies target disadvantaged people (i.e. people without checking or savings) with their advertisements so that they can tack on significantly more interest to their loans. You will want to make sure that you do not become a victim of high-interest on your payday contract just because you wanted no checking account to be required.

In most cases, being without a checking account is going to cause your payday interest to naturally increase. Why? Because lenders are going to have a lot more trust in people that can present checking account numbers. If you try to get a payday loan and don't even have a checking account, the lender is probably going to get suspicious of your capability of paying the loan back. Always consider other types of payday loans before you try to get one without a checking account. You may even want to consider working with a private non-payday loan agent because you will probably be able to get a better overall price on your interest.