There are a few lenders that can load a payday loan onto an existing debit card, and some lenders offer their own debit cards to fund. However, like other short-term loans, prepaid debit cards loans are best used as a last resort — they can come with rates that top 700% APR.
These lenders will load a payday loan onto a prepaid debit card that you can swipe at stores or online.
| Lender | Loan amount | Type of loan | Requirements | |
|---|---|---|---|---|
| Ace Cash Express | $100 to $1,500, varies by state | Payday loans and short-term installment loans | Steady source of income, checking or savings account, not currently in bankruptcy, ages 18+ | |
| Check Into Cash | $50 to $1,500, varies by state | Payday loan | Active bank account, government-issued photo ID, proof of income, most recent bank statement, checking account and bank routing number and Social Security Number or ITIN (for Indiana residents only) | |
| Speedy Cash | $50 to $3,000, varies by state | Payday loans and prepaid debit cards | Must be 18+ years old (19+ in AL) and have valid ID, proof of steady income, an open checking account and working phone number. | |
| Check N’ Go | $100 to $1,500 | Payday loans, installment loans and prepaid debit cards | Active bank account, regular income, US citizen or permanent resident, 18+ (varies by state) |
These can be a good alternative to payday loans with lower fees and more favorable terms and features, including the ability to use a debit card to access funds.
You apply for the loan, and if you’re approved, your lender transfers your funds into an eligible loan account and gives you your debit card either in person or by mail. From there, you may need to register the card in your name.
Because most prepaid cards are either Visa or Mastercard, you can use it at retailers or to pay bills. You may even be able to withdraw cash from an ATM, although this might come with extra fees.
It depends on the lender. Some may allow you to make payments with a prepaid debit card, but it could mean you pay an extra fee. Other lenders may only accept bank account transfers.
Keep in mind that cash is usually king — you may be able to withdraw money from your prepaid debit card and pay the lender directly.
Unfortunately, most lenders that offer prepaid debit card loans still require you to have a bank account. Check out our guide of no bank account lenders to see potential lending options.
Payday loans come with their own set of benefits and drawbacks.
Applying for a prepaid debit card payday loan is similar to other types of loans —- minus the credit check.
Debit card cash advances are not the same as a prepaid debit card loan. With some bank accounts, you can use your debit card to overdraw your account to access cash for an overdraft fee of around $34 per withdrawal. Some banks might also charge an extended overdraft fee of around $25 per week if your account is negative.
Since payday loans often cost around $15 per $100 borrowed, a debit card cash advance is generally more expensive. But once you top $300, it could cost you less — as long as you repay before the extension fees kick in.
Before you apply for a prepaid debit card payday loan, consider how you’ll repay it. Among the most notorious types of lending, payday loans often come with high fees. Late or missed payments can lead to additional fees and stiff penalties. And defaulting can result in a lower credit score and long-term damage to your overall credit.
Prepaid debit card payday loans are governed by state regulations that limit how much you can borrow and for how long. These laws are designed to protect you against predatory lending. Carefully review the terms and conditions of your specific loan, and ask questions about anything you don’t understand before signing any contract.
A prepaid debit card can be a convenient way to receive your payday loan, but it comes with the same risks and costs as any other short-term loan. Before you commit to a lender, learn more about how payday loans work to ensure they’re the right fit for you.
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A review of Arrowhead Advance, a tribal lender that charges interest rates up to 830% and has numerous bad reviews.
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A review of Lendly personal loans, a lender offering fast cash to all credit types, but with steep APRs.
A review of Lendumo, a tribal lender that charges interest rates well into the triple digits.
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A review of Crane Finance, a tribal lender that charges outrageous interest rates and isn’t transparent about how much its loans cost.
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A review of OppLoans, a lender that offers personal loans up to $4,000 to borrowers with poor credit.
I need 500 cash now to pay rent. Any lenders? I don’t have a bank account.
Hi Brandon,
Thank you for contacting Finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
There are no bank account loans that you can compare. Once you have selected one, you may proceed by clicking on the green “Go to Site” button. Usually, when you apply online, the soonest you can get your money is the next business day.
As a reminder, please ensure that you meet all the eligibility criteria and read through the Terms and Conditions before applying and making a decision on whether it is right for you.
I hope this helps.
Cheers,
Danielle
I’m in a situation where I got approved for an apartment. I suppose to move in already but I’m short half of the deposit $400. I have a job but no bank account. Is there any lender?
Hi Carlos,
Thank you for your inquiry.
Yes, there are lenders that don’t require a checking account that you may apply for if you are looking into getting a loan. If you have all of your information on hand, it should take just a few minutes to complete your application.
Before applying, please ensure that you meet all the eligibility criteria and read through the loan terms and conditions to see whether it is right for you.
I hope this information has helped.
Cheers,
Harold
how to apply for a loan thats deposited on a prepaid debit card
Hey Linda,
Thank you for reaching out to us.
First, you’d need to check if payday loans are available in your state.
If it is then you can proceed by checking out the lenders of this page by clicking on “More” for further details or “Go to site” to be redirected to their main site and start your application.
Before applying, please ensure that you meet the eligibility criteria and requirements and to read the details, as well as the relevant Product Disclosure Statements/ Terms and Conditions of the option before making a decision and consider whether the product is right for you.
Best,
Maria
I was curious, can I still get a loan if I am self employed or paid under the table?
Hi Neil,
Thanks for reaching out.
You may refer to the short-term loan for self-employed where you can view and compare your options regarding personal loans.
Cheers,
Joanne
I have a job but no bank account. What will I need to be an applicant for a loan?
Hi Sherah,
Thank you for contacting Finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
There are lenders that don’t require a checking account that you can compare and apply for. Once you have selected one, you may proceed by clicking the green “Go to Site” button to get started with your application online. You will need to fill out an application form and may need to provide some documents for identity and income verification.
Before applying that you meet all the eligibility criteria and read through the Product Disclosure Statements/Terms and Conditions before applying and making a decision on whether it is right for you.
I hope this helps.
Cheers,
Danielle