These days, most lenders deposit your loan funds directly into your checking account. But a few lenders can load a payday loan (or similar) onto an existing debit card. Or, as one alternative, some cash advance providers may be able to deposit advances onto your debit card or offer their own cards to fund.
However, like other short-term loans, debit card loans are best used as a last resort, as they can come with rates of 400% or more. Plus, some lenders may require you to visit a physical location, not all debit cards are eligible and you typically need an open and active checking account to qualify.
These lenders will load a payday loan onto your personal debit card or prepaid card that you can swipe at stores or use online.
Cash advance apps can be a good alternative to payday loans, with lower fees, more favorable terms and features and the ability to use a debit card for quick access to funds.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.
A debit card loan is any type of loan where the funds are deposited onto a debit card instead of into your bank account (or disbursed as cash or a check). The debit card could come from your regular bank, an online bank or it could be a prepaid debit card.
In general, payday lenders are the only ones who offer debit card loans, but they may also deposit funds from other loan types, too, like installment loans or title loans. Payday debit card loans are typically due on your next pay date, but some loan options offer longer loan terms.
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, except it may not require a hard credit check.
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 there is a very real risk of falling into a cycle of debt if you borrow money between paychecks often.
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.
With high fees associated with debit card loans, you may want to consider other options.
A 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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I need 1000- 1200 ASAP. I do not have a bank account, only prepaid debit. I live in Indiana, I need the funds to avoid eviction.
Hello Sha,
Thank you for reaching out to us.
You may want to check with the lenders listed on this page. The lenders here can load a payday loan onto a prepaid debit card that you can swipe at stores or online.
You may also want to explore other payday loans in Indiana. Though you must clarify first with the lender if they have the option to have the loan amount transferred to your prepaid card.
Kindly review first the Lender’s eligibility requirements and the loan details before submitting your application. You can click on the green ‘Go to site’ button to be redirected to the lender’s website.
I hope this information helps.
Let us know if there is anything else that we may assist you with.
Cheers,
Ash
Do you give prepaid card or do I have to get one?
Hi Diana,
Thank you for reaching out to us.
If you apply for a Payday Loan, you might also be given the option to request a prepaid card wherein the approved funds will be deposited. It will be easier if you have a readily available prepaid card for faster deposit of the loan amount.
I hope this helps.
Let us know if there is anything else that we may assist you with.
Cheers,
Ash
I need a payday loan of 150.00 but have no bank account. Only a Netspend Visa account which my SSI check is automatically deposited on the 1st. How can I get a loan today deposited directly onto my card?
Hi Judy,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You are on the right page. Getting a debit card loan will allow you to get fast access to a loan without the hassle of setting up a new account with a bank. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
I hope this helps.
Cheers,
Danielle
How Can I get a pre paid debit card loan?
Hi Jen,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
If all of the requirements are met there are just a few steps to apply:
– Go online or in person to a lender
– Provide your name, date of birth, address and email address
– Show state-issued ID or enter the information if applying online
– Give details about your employment status and income
You may review and compare the offers available on the page. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
I hope this helps.
Cheers,
Danielle
Hello my question is since i have a prepaid card can they put da money to my card
Hi Jami,
Thank you for reaching out to us.
Definitely, you have the option to have the approved loan amount to be directly deposited into your bank account. This will also allow you to receive the money faster rather than having a cheque issued.
You can also check lenders offering direct deposit short-term loans.
I hope this information helps.
Let us know if there is anything else that we may assist you with.
Cheers,
Ash
Is it possible to get loan with out bank account and just make monthly payments on what we agree on
Hi Yvonne,
Thanks for your inquiry.
If you do not have a bank account, but you need a loan, you may not qualify for many of the unsecured loan offers out there. Most of these offers are provided by banks. When it comes to loans without a bank account, a secured loan is a great option.
Please see our comparison between secured and unsecured loans. Another option is a collateral loan. Since collateral offers some security to the lender should the borrower fail to pay back the loan, loans that are secured by collateral typically have lower interest rates than unsecured loans.
Hope this information helped.
Cheers,
Arnold