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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Can I get a loan on SSI?
Hello Susan,
Thank you for your comment.
Yes, there are lenders who consider people on SSI. See the page and compare the loan products available for you.
Kindly enter your state in the box found on the page and click Show me my Options. You can now compare the lenders and click the Go to Site or Apply Now button to apply.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Regards,
Jhezelyn
My question is can I use my pay xard thru my job
Hi Lynette,
Thank you for reaching out to finder.
Apart from using a prepaid card to have the funds transferred to you, you can also opt on using a bank account under your name like a personal bank account or a bank account for your salary for the funds to be transferred to. Hope this helps!
Cheers,
Reggie
How can I apply prepaid card and loan?
Hello Rose,
Thank you for your comment.
To apply for a prepaid card, please check first our guide that explains how it works. On the same page, you’ll get to compare the cards’ fees and benefits. After comparing, please click the Go to Site button if you think that the card is right for you. Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.
To apply for the loan, please compare the loans available in your state first, by entering your state above. Then compare the loans and click the Go to Site button to apply. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Regards,
Jhezelyn
I need to know if I can get a $500 loan and I do not have a checking account. I need this loan until I receive my income tax return. I filed my taxes on Jan 18th 2019.
Hi Tammy,
Thank you for your comment.
Yes, you may be considered for a loan even without a checking account, however, the process may not be as easy as those with bank accounts. Learn about getting a loan without bank accounts and see how it works. One of the things that the lenders will be checking is your credit score and financial ability to pay back the loan.
You will see a comparison table on site. Check on the loan type, how it works, eligibility, and the cost. Kindly review and compare your options in the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to their website where you can proceed with the application or get in touch with their representatives for further inquiries you may have. Consider calling ahead to make sure you can qualify without a bank account.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Regards,
Jhezelyn
How do I apply?
Hello Gaisha,
Thank you for your comment.
If you’re referring on how to apply for the payday loan, first, you’ll need to compare or shop around for a payday loan product. The lenders listed above offer payday loans, just enter your zip code and click show me my options and you’ll get personalized loan options in your location. After comparing the products, please click the Go to Site button to be redirected to your preferred lender.
Please be advised that Payday Loan Requirements may vary from lender to lender so it’s important to meet the requirements, as well as the eligibility criteria before submitting an application for the loan.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Regards,
Jhezelyn