Many people new to the idea of cash advance loans wonder if instant approval is for real. Many times, you can be instantly approved for a payday loan. It depends on if your checking account information can be automatically verified through a computer, as well as your Social Security Number and other identifying personal data.
Lack of an instant approval does not necessarily mean you will be denied a loan. Some banks do not verify as easily as others, especially credit unions. Also, if your direct deposit or bank account is fairly new, you may be selected for a telephone verification. These processes are kept as simple as possible, and the average consumer with a steady job or government benefits income should qualify for a cash advance loan to meet his or her special financial needs.
Sometimes faxing is also necessary to finalize a payday loan application approval, but more often than not this extra step also leads to a fast acceptance. Common items that need to be faxed include a checking account statement, a pay stub, proof of address (especially if the applicant has recently moved), or voided check. These steps are sometimes necessary when one's identity or financial information cannot be easily verified over the computer, and are designed to protect the consumer as well as the lender.
Instant approval does happen a lot, but the absence of it rarely means a denial unless you have too many loans already or a history of not paying back cash advance lenders.
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Note: by researching and comparing the best payday loans direct lenders in the market, you will save money by choosing the one offering the cheaper interest rates.
You are very welcome to visit the San Diego Payday Loans website - where you can get an instant approval payday advance on line.
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