Many people have discovered an easy way to get fast cash in Bellevue with the use of cash advance companies. These companies offer legal cash advances under industry laws that are more standardized than other states. Maximum payout amounts can be up to $500 in Washington with no minimum amount required. When getting a cash advance in Bellevue, loans can be as long as 45 days, however the annual percentage rate of 390% is high. This is especially true when comparing it to other loan types, but is average for cash advance terms. The highest interest rate that can be applied on a cash advance in Bellevue for a $500 loan or lower amount is 15%.
Getting a cash advance in Bellevue offers individuals help in meeting their monetary needs until their next payday. Cash advances work as a short-term loan that is deposited into the individual’s bank account, possibly even the same day. When they receive and deposit their next paycheck, the loan is paid back automatically through the checking account along with interest. Basically, it is like writing a check with added interest included. To receive a cash advance, there are certain requirements that must be meant.
These include being employed or having some source of income, being at least 18 years of age and having an active bank account. These are the minimum requirements although some lenders may have additional requirements as well. Lenders usually evaluate the borrower’s situation, which is based on income, credit ratings and application information.
To apply for a cash advance in Bellevue, an online application can be filled out and submitted for evaluation. Information provided must be able to be verified for approval. A decision is usually made within minutes. No one is obligated to accept the loan if they are not satisfied with the loan conditions. Generally, after approval the funds are transferred electronically into the borrower’s bank account by the next day, although borrowers can choose which payment method they prefer.
Loans must normally be paid back by the next payday. Some lenders do allow extensions with an additional fee. There are choices that can be made in regards to the method for paying back the loan. These include fully paying off the loan, paying the fees and interest only and renewing the loan, paying part of the principle and interest and renewing the loan or doing nothing and letting the loan automatically finance.
Applying online for a cash advance in Bellevue can be done 24 hours a day, every day of the year. Applications can be submitted and approved anytime, but funds can only be transferred during regular banking hours.