Financial difficulties, such as expensive repairs or high bills can often only be settled with a loan. The quickest way to overcome these difficult situations is with a cash advance. In this type of loan, the borrower will normally receive the requested cash immediately or in cash. A cash advance that is available in 24 hours can be very expensive and is only available from a few financial service providers.
The traditional cash advance of the house bank is usually the discretionary credit
Difficult financial situations are discussed by many consumers first with your bank. These banks usually run all savings and checking accounts, issue credit cards and are responsible for the monthly cash transactions. Also, the lending business is a branch of the house bank. However, those who need immediate money often have no luck with their bank. For a normal installment loan, the house bank often takes several days. First, an appointment with the clerk must be agreed. After the consultation it has to be decided whether the credit is approved. Once approved, the bank will need several more days to pay the loan. A cash advance, which is available on the checking account within 24 hours, can only be provided by the house bank as a disposition credit.
The disposition credit is granted to the account holder in his checking account. The amount of the investment depends on the earnings and the creditworthiness of the bank customer. If no discretionary loan has been granted, one, two or three monthly salaries can be agreed. With a high income and a good credit rating, the loan amount can also be arranged individually. Once the agreement has been signed on the bank, the money is immediately available to the bank client. The disposition credit can therefore be called a cash advance available in 24 hours.
A cash advance in 24 hours on the current account is not awarded by direct banks
With the direct and on-line banks in the Internet, loan seekers receive different loans at particularly favorable conditions. This is possible because the banks have only a small effort. The application is independently accepted by the loan seeker on the Bank’s website. Banks do not provide advice on loans, as is usually the case with the house bank. Even the personal contact is limited and can only be done over the phone, e-mails or letters. As the direct bank does not know the bank customer personally, its creditworthiness is scrutinized.
Due to the close examination of the loan seeker, a cash advance in 24 hours is often not possible. However, an accelerated loan payment can be achieved if the online or direct bank offers the Video-Ident procedure. This process requires a webcam. The borrower’s loan documents, loan application and identification documents are checked with the camera by an employee of the bank. If all documents are available, the loan can be disbursed. The payment is usually made within one to three days.
In a cash advance, the credit intermediation must be checked for their seriousness
If the house bank’s repayment credit is insufficient or if the withdrawals of the online or direct bank take too long, a cash advance may be requested from a credit intermediary. Many credit agencies provide these credit advice. Credit agencies that offer cash advances with a quick payout, must be checked by the credit seekers for their seriousness. It can happen from time to time that a frivolous company offers in a bill a cash advance, which is paid out in 24 hours. The reputable credit intermediaries can be easily distinguished from the black sheep.
A serious credit brokerage has long been active in the credit market and can show many positive customer reviews. The financial services provider does not charge any fees before a loan transaction is concluded and does not offer any additional financial products. The website of the credit exchange is equipped with a complete imprint and various contact details. On the specified business hours, an employee of the company can be reached by telephone and can provide information about the financial services.
Small cash loans are available from mini and micro credit providers on the internet
Often, only a small loan is needed to bridge a financial drought. A cash advance between 200 and 3,000 euros can be requested from a mini or microcredit provider. With these lenders, it is possible that the cash advance will be transferred to the checking account in 24 hours. Some providers even advertise with the same day loan payment. For a loan with a mini and micro credit provider is possible, the loan seeker has to prove first.
As a new customer, a loan seeker first receives a loan of € 200 from the mini and microcredit providers, which must be paid back within 30 days. After a successful loan transaction, the loan seeker becomes a regular customer. Now higher loans are possible. The amount of the loan is always dependent on the respective provider. In addition to the loan, various options are offered. These include, for example, the preferred processing, the flash transfer or a 2-rate option. All special services with mini and micro credit providers are always charged.
Cash withdrawals with fast payouts can be very expensive
Anyone who needs a cash advance in 24 hours has a particularly good selection on the Internet. Even the house bank can help with a disposition credit. Loan seekers must be aware that cash advances to be paid out quickly are always more expensive than normal installment loans. Due to the different loan conditions, a loan comparison can be profitable.