Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Get a loan without a bank account

You can get a loan without a checking or savings account, but your options may be limited to shorter loans.

Without a bank account you may be limited to loans that are less than 12 months long, such as payday advances or small personal loans. Other less-traditional options that don’t require a bank account, like vehicle title loans, can be extremely expensive — so watch out for high rates.

6 lenders that don’t require bank accounts

While borrowers with bank accounts have more options, we’ve gathered six loan options that don’t require a checking or savings account.

LenderLoan typeEligibilityCost
Current
Cash advance
Open current account, receive $500 or more in eligible payroll deposits, proof of identity, employment and income verification.
No interest, fees for instant transfers.
Chime MyPay
Cash advance
Open a chime checking account, activate chime visa, have the chime app, recieve at least two qualifyig direct deposits of $200 or more per deposit or one qualifying deposit of $200 or more and add verifiable employement information, live in a state where MyPay is available.
No interest, fees for instant transfers.
Max Cash
Title loan
Over 18, vehicle equity, car title, photo ID, regular source of income, US citizen or permanent resident. Not a resident of NY.
APRs can range from 29%–300%. The average is about 87%–97% APR.
LoanMart
Title loan
Resident of AL, AZ, GA, MO, NM, UT or SC. Have a car that is paid off or almost paid off, proof of income, over 18, US citizen or permanent resident.
Varies by state. While rates are not stated, APRs could exceed 90% and possibly reach up to 300% or more.
Dollar Loan Center
Payday loan
Over 18, no open bankruptcies, regular income, access to Nevada or Utah.
Varies by state. But typical APRs can reach up to 400% or more.
Check City
Payday loan
Government ID,
proof of income (employed for at least 6 months), proof of address,
two references.
Varies by state, but could reach up to 460% APR or more.

6 types of loans without a bank account

Here are six lending options that you may qualify for without a bank account:

  1. CDFI loans — Some Community Development Financial Institutions (CDFIs) offer payday loan alternatives that don’t require a bank account. CDFIs are nonprofits with a mission to serve economically disadvantaged areas.
  2. Personal loans — While less common, some lenders that cater to bad credit borrowers, like OneMain Financial, may not require a bank account to qualify for a loan — unless you’re asked to provide bank statements as proof of income.
  3. Credit card cash advances — Credit card advances are a convenient way to access fast cash. But be prepared to pay $5 to $10 per advance or a 3% to 5% fee on the amount borrowed. You’ll also pay a significantly higher APR on cash advances than regular purchases.
  4. Vehicle title loans — Also called a title loan, this option allows you to borrow against the value of your paid-off vehicle. You can often take out 25% to 50% of your car’s value, though it’s possible to find loans for up to 90% of its resale price. Some lenders don’t require a bank account if you apply in person.
  5. Pawn loans — Rather than sell and buy back your personal items, some pawnshops let you put up your valuables for collateral on a loan. With a pawn loan, you borrow a percentage of your item’s resale value — typically 25% to 60% — repaying it in cash, after which your items are returned.
  6. Payday loans — Also called short-term loans, payday loans are small loans often repaid within a few weeks or a month. If you apply in person, some lenders let you pick up and repay your funds in cash or by money transfer.

If you’re considering a short-term payday, installment or title loan, be aware that APRs can run high — often in the triple digits. And many borrowers find themselves in debt longer than expected due to repeat borrowing.
If you just need a small loan between paydays, consider a no-interest cash advance app. Cash advance apps never charge financing fees or interest on what you borrow, making them cheaper than short-term payday, installment and title loans.

How to get a loan without a bank account

We won’t mince words — your lendings options are much more limited compared to a borrower with an active bank account. On the plus side, applying for a loan without a bank account is nearly identical to applying for a loan with one (minus the bank statements).
Here are general steps to getting a loan without a bank account:

  1. Check your credit. If you have a credit score above 670, you’re likely to have more options available, and knowing your credit score can help you find lenders that can work with your credit rating.
  2. Compare lenders. First step before applying anywhere is compare lenders by rates, loan amounts, reputations, and overall loan conditions.
  3. Gather docs. Once you find a lender, gather documents such as a few weeks or months of pay stubs, proof of residency, valid ID, SSN and contact information. Lenders vary in what documents they require.
  4. Apply. After submitting all your documents with the lender(s) of your choice, wait for the lending decision.

Depending on the size and type of the loan you’re applying for — such as unsecured or secured — you may need less or more documentation. For example, a title loan requires your vehicle’s title that’s free of a lien. A legitimate lender you’re working with lets you know the expectations and basic requirements of the loan.

Why do most lenders require a bank account?

A bank statement can give a lender a lot of information. When reviewing your application, lenders like to see how much money you have to get an idea of how you handle your personal finances — many require that you have a positive balance.
Bank accounts also make it easier for lenders to transfer loan funds quickly. Most lenders use the electronic Automated Clearing House (ACH) to disburse your loan and collect repayments. ACH works only between bank accounts.
Beyond this, a bank account can show lenders that you’re financially healthy and not a borrowing risk. The less of a risk you are, the better the chance you have for approval and competitive rates.

Compare more loans that don’t require a bank account

Product Finder Score Loan amount Turnaround time Requirements
Finder score
Up to $150/day, with a max of $750 between paydays
1 to 2 business days or within 30 minutes for a fee
At least 18 and a US resident, Valid Social Security number, At least 60 days of banking history, Proof of consistent income, Positive bank balance, Get paid by direct deposit.
Access up to $150 per day, with a max of $750 between paydays. Subject to EarnIn terms & conditions.
Finder score
$500 to $5,000
As soon as the same business day
+18 years old, Receive paychecks through direct deposit, $1,500 minimum monthly income, Live in eligible state
Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.
Finder score
$50 to $750
Up to 3 days or within an hour for a fee
Among other factors, you must receive a monthly total of $500 or more in Eligible Payroll Deposits into your Current Account.
Get up to $750 before payday, once you qualify. Paycheck Advance is an earned wage access service and is not a loan or credit product. Subject to Paycheck Advance Terms and Conditions.
Go to site
Varo logo
Finder score
Up to $500
Instant, once qualified
Active Varo Bank Account with a positive balance and at least $800 in total qualifying direct deposits in the current or previous month. Additional quals apply.
Varo Advance (VA) is a small dollar line of credit. Initial limits range from $20-$250. Work your way up to $500 over time. Fees range from $1.60 - $40 based on loan amount.
Cleo logo
Finder score
Up to $250
3 to 4 days or instant for a fee.
Not stated
Automatically monitor your spending plus access cash advances up to $100 at a time.
Chime logo
Finder score
Up to $500
Within 24 hours or $2 for instant transfers
Chime checking account, direct deposits of $200+ and only available in some states
Access up to $500 of your pay before payday fee-free within 24 hours. See Chime terms and conditions.
MoneyLion logo
Finder score
Not scored yet
$300 to $5,000
1 to 2 business days
Checking account at least 60 days old, regular income through direct deposit, resident of eligible state, age of majority in your state
Fast online funding up to $5K, but you won't know about rates and terms until after you apply.
loading

What is the Finder Score?

The 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.

Read the full Finder Score breakdown

Getting a bank account expands your loan options

Without a bank account your lending options are limited to mostly expensive payday loans, pawn shops, vehicle title loans and some personal loans. If you’re not comfortable with those, you can expand your opportunities with a bank account.
If you have a valid ID like a passport or drivers’ license, a Social Security or Individual Taxpayer Identification number and some cash on hand, you can open a checking account at a financial institution.
If you’re concerned about paying a minimum opening deposit or monthly fee, most financial institutions now have free checking account options with low or no minimum deposits.

Bottom line

It’s possible to get a loan without a checking account. Your three main options are payday, auto title and pawnshop loans. Some personal lenders may offer no-bank-account loans, but they’re rare. You could also get a credit card cash advance or apply for a CDFI loan, although it could take up to a month to fund.
But you may want to consider opening a bank account to give yourself more options. The most competitive personal loan lenders require borrowers to have an active checking account to verify your finances and send loan proceeds to you. If you don’t have a bank account due to bad credit or a ChexSystems profile, consider opening a second-chance bank account.

Bethany Hickey's headshot
Written by

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

Bethany's expertise
Bethany has written 453 Finder guides across topics including:
  • Personal finance
  • Banking
  • Auto loans
  • Insurance
  • Cryptocurrency and NFTs
More resources on Finder

Ask a question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

106 Responses

    Default Gravatar
    ClarkieJanuary 6, 2018

    I have direct deposit for my SSI but the bank the card is through only allows my deposit for SSI. But I can make payment with this card. I only need a small loan up to $700. Is there anyone out there that can help.

      Default GravatarFinder
      RenchJanuary 6, 2018Finder

      Hi Clarkie,

      Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      If you are on SSI income and looking into getting a loan, there are lenders that offer loans for people on disability who can consider your government benefits as a source of income. However, these lenders will require you to have a checking account.

      If you only have a prepaid debit card, try applying with any of the lenders listed in the table above instead. Before applying, please check the loan terms and conditions to see whether it’s right for you.

      Best regards,
      Rench

    Default Gravatar
    RobertDecember 30, 2017

    I only have a prepay debit card can I have money put in that card

      Default GravatarFinder
      RenchDecember 30, 2017Finder

      Hi Robert,

      Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      You can also have a look on this page for prepaid debit card loans. With a prepaid debit card loan, you apply for your short-term loan either online or in a store. If you’re approved, your lender transfers your approved funds into an eligible loan account. It then registers a prepaid debit card with that account, either handing it to you in person or mailing it to your home.

      You’ll typically need to register the card in your name, either in person, by phone or online. Because most prepaid cards are either Visa or Mastercard, you can then begin using your card as you would any other type of credit card.

      Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.

      Best regards,
      Rench

    Default Gravatar
    RachelDecember 18, 2017

    I am in need of a loan I do have a bank account but not direct deposit . But I do have income from the county .

      Default GravatarFinder
      RenchDecember 19, 2017Finder

      Hi Rachel,

      Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      If your bank account does not have a direct deposit facility, there are lenders that will let you pick up and repay your funds in cash or by money transfer. There are also some lenders that offer prepaid debit card loans who will load your funds onto a prepaid debit card that you can swipe at stores or online.

      You can also consider using a personal loan broker which is a good option for borrowers who are facing a complicated situation as these brokers can help you find a lender that you could qualify for.

      Best regards,
      Rench

    Default Gravatar
    TDecember 16, 2017

    What if I don’t have a valid driver’s license can I still get the loan

      Default GravatarFinder
      RenchDecember 19, 2017Finder

      Hi T,

      Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      It depends on your preferred lender what IDs they require to apply for their loans. There are alternative IDs that you can provide. I suggest contacting the lender directly to inquire about their requirements.

      You can see and compare payday loans permitted in your state that you can consider applying for if you are in need of a short-term loan.

      Cheers,
      Rench

    Default Gravatar
    MelissaDecember 13, 2017

    I have prepaid card. How do we go about it?

      Default GravatarFinder
      RenchDecember 13, 2017Finder

      Hi Melissa,

      Thanks for your inquiry.

      With a prepaid debit card payday loan, you apply for your short-term loan either online or in a store. If you’re approved, your lender transfers your approved funds into an eligible loan account. It then registers a prepaid debit card with that account, either handing it to you in person or mailing it to your home.

      Most lenders that offer prepaid debit card loans still require you to have a bank account and not all will load your cash advance onto your prepaid debit card. If you do not have a bank account and you are looking into getting a loan, try applying with any of the lenders listed above.

      I hope this helps.

      Best regards,
      Rench

More guides on Finder

Go to site