Payday Loans Frequently Asked Questions
Q. Can I get a payday loan at Your Exchange?
A: Yes, Your Exchange offers payday loans at all of our three convenient locations.
Q. Do I have to have a checking account to get a payday loan at Your Exchange?
A: Yes, to get a payday loan at Your Exchange you will need to have a checking account.
Q. What if I only have starter checks?
A: You will not be able to loan at Your Exchange with a starter check.
Q. How long does my checking account have to be open I can get a payday loan at Your Exchange?
A: Your checking account will have to be open for at least 30 days.
Q. Do I have to have direct deposit to get a payday loan at Your Exchange?
A: Yes, you will need to have direct deposit into a checking account to get a loan at Your Exchange.
Q. Do I have to have a utility bill to get a payday loan at Your Exchange?
A: Yes, you need to have a utility bill from a major company in your name to get a payday loan at Your Exchange?
Q. What if I rent and do not have any utility bills in my name?
A: You will not be able to get a payday loan at Your Exchange if you do not have a current utility bill from a major utility company in your name.
Q. What do I bring with me if I want to get a payday loan at Your Exchange?
A: You will need to bring:
- A current utility bill in your name from a major company
- Your two most current pay stubs
- Your Bank transactions dates the day that you are coming in to get a loan going back for 30 days
- A government issued photo id
- Your checkbook (no starter checks)
Q. What if I get direct deposit onto my Cashpass card? Can I get a payday loan at Your Exchange?
A: We will not be able to provide you with a payday loan, but we can assist you with getting a payday loan through Cashpass.
Q. How long are your payday loans at Your Exchange?
A: Our payday loans are for 14 days.
Q. Can I take my loan out again after the 14 days?
A: Yes, you can. You will have to pay off the loan in full, and provide all your paperwork again, and you will be able to loan again, provided all your paperwork is on order.
Q. Do you offer Payday Advances? Cash Advances? Payday Loans?
A: Yes, at our Blaine, Fridley and Spring Lake Park Locations.
Q. What do I need to bring to be approved for a loan?
A: Current Bank statement with today's date on it going back 30 days - Direct Deposit, 2 of your most recent pay stubs, Utility bill in your name, 2 forms of I.D.,
and a checkbook.
Q. How long are your loans granted for?
A: 14 days. Call the Spring Lake Park store with any questions regarding loans
Q. How much can I get approved for?
A: All approvals are based off of income levels. We give loans up to $200.00.
Q. If I want to re-loan can I just pay the fee and then have another 14 days to pay it off?
A: No, you must pay off the entire loan, plus the fee and then a re-loan may be granted.
Q. What happens if I don't come back and pay off my loan?
A: On the next business day we will deposit your check.
|
