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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Hi…can i get a loan without having a checking account?
Hi Jeremy,
Thanks for your question.
If you don’t have a checking or bank account, you could get a payday loan from a lender and have the funds deposited onto a prepaid debit card. Kindly provide your state of residence in the search box above to check your options.
Don’t forget to review the eligibility criteria and the relevant terms and conditions of the loan before submitting your application.
Cheers,
Anndy
My payday loan is still not on my pay card?
Hi Unicornninja,
Thank you for your inquiry.
Regarding this matter it would be nice to coordinate your lender directly to check when your payday loan will be credited to your pay card.
I hope this information has helped.
Cheers,
Harold
Is it possible to get an installment loan with just a debit card?
Hi Donna,
Thank you for your inquiry.
As long as you can meet the requirements listed below you may be eligible for this loan.
– Be a US citizen or permanent resident
– Live in a state that allows payday loans
– Meet the age requirements of the state you’re living in (usually 18-21)
– Have steady income
I hope this information has helped.
Cheers,
Harold
I have a bank debit card, no check account. How can I get a loan?
Hi Ricky,
Thank you for your enquiry.
You can compare and apply for loan online from the lenders listed on this page by clicking the green “Go to site” button of your preferred lender. You may then have the loaned funds deposited onto the debit card once your loan application is approved.
Please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you. You may click the name of your preferred lender to find out the details and the minimum eligibility of the lender.
Kind regards,
Jason
I have a PayPal card with deposits each month. Is it possible to secure a 400 dollar loan asap.
Hi Marilynn,
Thank you for your inquiry.
You can apply if you have a steady source of income and you’re a permanent resident of the US. You’ll also have to meet your state’s minimum age requirement, which is 18 in most states.
The typical requirements are:
– Be a US citizen or permanent resident
– Live in a state that allows payday loans
– Meet the age requirements of the state you’re living in (usually 18-21)
– Have steady income
I hope this information has helped.
Cheers,
Harold