my411 loan reviews

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A payday lender will confirm your income and checking account information and deliver cash then and there at a store. For online transactions, the lender will send funds electronically to your bank account the same or next day.

In exchange, the lender will ask for a signed, post-dated personal check or permission to electronically withdraw money from your bank account on the due date. The loan is due on your next payday, typically in two weeks, but sometimes in one month.

If the loan is issued at a store, you may return before or on the payment due date. If you don’t show up, the lender will repay itself by running the check or withdrawing repayment from your bank account. Online lenders use an electronic withdrawal.