Can You Get Payday Loans Without Debit Cards?

There is a lot of misunderstanding when it comes to payday loans, what you can and can't do and what is allowed and what is not allowed. Short term unsecured cash loans have been around for as long as finance has existed and over time people have used different terms to describe this type of lending.

Essentially you can borrow a relatively small amount of cash, generally up to about £750 but this can vary dependant on your particular circumstances. If you are employed and earn over the specified amount then you will be able to borrow up to the maximum. If you are a customer in good standing with the lender then you will also be able to borrow up to the amount the lender sets as the maximum loan amount. If however you do not have an existing relationship with the lender or your income is not as high then you will generally be able to borrow around half of this amount, between £300 to £400 again depending on your situation.

Loans without debit cards

The reason payday lenders have specific guidelines are because they generally do not require you to pass a credit check to acquire debit card loans, they have to be more cautious about how much and who they lend to. At the end of the day they do not want to lend out money that is not going to bet paid back, this is in both their interest and of the customer. This limits the amount of bad loans the company is exposed to and prevents the customer from borrowing more than they can afford to pay back.

Whilst there are no credit check requirements as such payday loan companies do put in certain devices to reduce the acquisition of bad loans. One such method is to make sure that there is a secure method of loan repayment. This is usually set in the form of a repayment via your debit card, however as not everyone has a debit card many lenders will allow you to set up a direct debit to repay the loan in full.

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