Faxless Payday Loans Benefits, Risks And Availability

Faxless and paperless payday loans

The very idea of a payday loan is rather self-explanatory: you borrow a sum of money from a lender, you pay the charges incurred, and you return the money with your next payslip. All of it is fairly easy and requires meeting several criteria demanded by the law and varying from one lender to another. This is the theory of it. In practice, issuing a payday loan requires transferring documentation to the lender to scrutinize, as well as your active participation in the process, like signing the agreement.

The idea of faxless, or paperless, payday loans came around a decade or so ago when Internet payday loans became a thing. This financial product features quite a few benefits that will be described further down this page, but the main of them is that they do not require excessive paperwork.

Why consider a payday loan with no faxing?

Do you need money urgently? Possibly no later than the day following the application, or even sooner than that? It might sound incredible, but in our digital age, everything is possible. The main idea is that you do not need any extra equipment like a fax machine, you do not engage in time-consuming sending of facsimile messages, and you skip all the shortcomings of the process such as collecting the papers. As a result, no faxing payday loans become truly efficient and speedy means of getting a cash advance.

Payday loans online without fax: does it even work?

Admittedly, putting up a platform hardwired for issuing a payday loan on a paperless basis is a lot of work. It requires significant investing and cooperating with a network of lenders who are equally equipped for the task. For instance, this type of credit requires an IT setup supporting the online signing of documents (e-signature software and inventory), a comprehensible system of data storage, processing and safe transferring, and other such.

You upload the scanned or photographed copies of the required documents directly on our platform, and we forward them to the lenders. There is no attention paid to how bad your credit history is. We connect you to lenders working with all types of credit score automatically, and you get approved within a few minutes. Applications submitted earlier in the day have great chances to be met with same-day money deposition.

Requirements to apply for a no fax payday loan

Those are universal and minimal:

  • being of full age
  • being a resident of the state you apply for a loan in
  • having a source of regular income
  • having a bank account and an email address

Advantages of no fax payday loans

Faxless payday loans do not mean only the absence of paper trouble. As pointed out above, this type of loan abolishes the need to process a considerable amount of papermill materials, so everything is sped up to the max. Faster approval, faster issuing, money received sooner, and no need to drive to the actual office – your cash will be sent to your bank account or, in some cases, your credit card.

Disadvantages of no faxless payday loans

As far as the downsides of faxless payday loans are concerned, they are not linked to the paperless nature of this crediting type. Rather, it is the traditional disadvantage of taking out a short-term loan, and it lies with having a high-interest rate. This rate is nevertheless mitigated by the fact that you only use the loan for a short period and pay for a truly urgent issuing. This unique service thus becomes well-balanced in terms of pros and cons.

What you need to know: the reality of faxless loans

At our website, we have realized a full-scale paperless-friendly infrastructure to enable the applicants’ request to go seamlessly. Without the need to produce and fax the documents to the lender, you will also skip the waiting time and be approved within several minutes. This convenience translates into the major benefit of having your money sent to you within a few hours. At the same time, be watchful for paying back timely, because it is fairly easy to get caught up in a debt circle of rollovers.

We understand that this information is generic and every application is unique; therefore, we offer individual services in answering your questions via EMS forms on our website. We will be happy to answer and assist!