Instant Cash Advances: How Do They Work?

When you hear the word “instant,” what comes to mind?

Well, most people would say right away or now or in a few minutes.

When it comes to payday loans or cash advances, there is a process that every person must go through. Some of that process begins, of course, when an application is completed, and this only takes 2-3 minutes typically. Once that is done, even after electronic submission of the application, the lenders must quickly review it and, if one accepts the application, they then must contact the person who requested the loan or instant cash advance.

Instant Cash Advances

When a lender accepts your requests and wants to lend you money, they must call you and discuss the amount, the terms of the loan, payback date and so on. This happens within 1-2 minutes after they accept your application. Often it takes 15-20 minutes to complete the conversation if the applicant accepts the terms and conditions.

Then comes the real time-consuming part. The lender must wire funds to your bank, and this takes at least 1 (one) business day in almost all circumstances. So, no weekends or holidays included in this process. If you apply and are accepted on a Saturday and Monday is Labor Day holiday, you won’t get the funds until the following Tuesday.

Things to Remember While Applying for an Instant Cash Advance

  • There are states that do not allow payday loans. You can find out about your state by checking your state’s website. Every state website has information about their regulations.

  • Always be sure you can pay back your loan on your next paycheck or as agreed with your lender.

  • Instant cash advances should only be for urgent situations like your car broke down, you have outstanding checks to cover and don’t want to get hit with a bunch of $35 NSF fees, and so on.

  • Not everyone who applies for a loan or an instant cash advance is approved. Applying on holidays or weekends reduces your chance of approval as fewer lenders work these days.

Why Choose us for an Instant Cash Advance?

CashinaSnap is a fast, easy and safe service that refers you to more than 100 lenders who want to lend to you. Your odds of getting approved are higher with so many lenders. We have a very high loan acceptance rate (over 80%), but not everyone is accepted. You can get started right from your cell phone and get an answer in just 1-2 minutes.

Need an instant cash advance now? Just click here.

Related Post

Kimmy Burgess is the Manager of Cash in a Snap, which helps clients get connected to its large network of reputed lenders to obtain quick cash advances when they need it most. Kimmy has over 20+ years’ experience in Administrative Management, with many years in the lending industry. Her expertise includes customer service, client services and other functions in the payday lending business. She has also spent time in the mortgage industry prior to her move into the payday lending field. Kimmy has a number of pets including cats, birds, and a Chinese water dragon.

Leave a Reply

Your email address will not be published. Required fields are marked *