ACE Cash Express (www.acecashexpress.com) offers a secure site for sending your banking information along with an easy to fill in application.
However, they fall short with their fees that are on the high side at $25 per $100 borrowed.
National Payday has operated as an online cash advance lender since 2000.
Secure Site: Excellent
This site appears to offer encryption methods to secure personal information.
Ease of Use: Excellent
Although this site is easy to use, the application is the longest that we have seen and requires a little more time to fill out than other sites.
Cost of Loan: Excellent
At $25 per $100 borrowed – Nationalpayday.com is among the more expensive services. Based on their fee, their APR is 651.79% based on a 14–day loan.
We found that the higher the fee, generally the easier it is to get a loan based on the sales information presented in the site.
Customer Service: Excellent
Nationalpayday.com offers a good FAQ page as well as an online form where you can send inquires.
Summary:
Nationalpayday.com from what we could find is operating out of Costa Rica and their fees are higher than many of the other services than we reviewed. However, they do appear to encrypt personal information.
CashNetUSA (http://www.cashnetusa.com) offer a high level of pre disclosure, which we found refreshing. Right up front you know which states they are licensed to operate in and the fees and rates they charge.
Secure Site: Excellent
This service appears to support encryption methods that adequately protect transferred personal information.
Ease of Use: Excellent
Their application form is easy to fill out and their website is well organized. CashNetUSA provides lots of information on their site from articles to a complete disclosure of their fees.
They also post a list of the states where they are licensed to do business, along with the phone number to each State Department of Financial Institutions so you can check on complaints and licensing.
Cost of Loan: Excellent
This was the only aspect we did not like about CashNetUSA – their fee is $25 per $100 borrowed and is among the highest fees we found, although many payday loan services charge fees this high. (This fee was based on the state in which we reside – this fee may vary from state to state.)
We did appreciate the fact that CashNetUSA discloses their fees and APR information in an easy to read format.
Customer Service: Excellent
CashNetUSA, unlike many services, provides many ways for loan applicants to contact them. They offer live chat, email and telephone support. They also post a FAQ page.
Summary:
Before submitting personal data and banking information, there is always a bit of apprehension; however, this company provides applicants with the contact information they need to check out their validity and operating history. This service is one of the best that we could find, since they host a secure site and offer many contact methods but falls behind the top four because their fees are a bit on the high side.
Check City offers loans in 21 states, has competitive rates, and does not have a minimum income requirement With this service you can easily fill out an application online and get approval fast. You can also visit one of their stores and get full access to everything they provide.
This payday loan service provides much more than just short term loans, they also provide check cashing, prepaid debit cards, title loans, money orders, prepaid phone cards, gold buying, money transfers, insurance, tax services and mortgages, depending on the state. They can also provide direct deposits, over night deposits, electronic transfers and more, you can even apply by phone.
They provide secure transfers of information, and have been around a while, over 10 years online with a good reputation. We also liked that they provide a variety of ways for you to contact customer service, including by telephone, email and instant chat.
Standout Features:
* Easy application process
* Offers a variety of services, such as check cashing, title loans, prepaid debit cards, money transfers and more
* No minimum income requirement
* Secure website and rated A+ by the Better Business Bureau
* Loans available in 21 states
Secure Site: Excellent
Check city provides a secure transfer for your sensitive information and has a solid privacy policy in place. They have also been online for 10 years and have a good reputation with the Better Business Bureau.
Ease of Use: Excellent
This payday service is extremely easy to use; they even have quick quote form that is even easier to fill out than the regular loan application form. The pricing structure is simple to understand and well communicated on their website and you can quickly find the rates for your particular state. However, the website is not the easiest to navigate, for example, different sections have different top navigation buttons, so you cannot easily move from section to section. For instance you have to go to the About Us section to find the Services section.
Cost of Loan: Excellent
Check City is about in the middle when it comes to loan costs, loans for $100 balances usually range from $10 to $25, this service is $17, which comes to 443.21% interest in the state of Utah for 14 days. Keep in mind that if you extend beyond the 14 days the total costs go up; it is another $17 every week that you extend a loan. We looked at fees in the state of Utah, but other states have different rates, for example Colorado is $20 per $100 and California is $17.64 per $100. Some states are even lower prices, like Illinois which is $15.50 per $100 and Washington State is $15 per $100.
Customer Service: Excellent
Check City provides quite a few ways for you to contact support. You can contact them by email, mail, telephone, chat or fax. They also have quite a few stores in Utah and Nevada. We tested their email support and did not receive an answer back as promptly as we would like, though we did email them during off business hours and likely that is what caused the delay. We found their proactive chat a bit annoying, but it is nice to have a chat option.
Summary:
Overall, we had good experiences with Check City and found their services to be competitive and varied. They can provide fast loans to almost anyone with a steady income and they have an excellent reputation, certainly worth looking into if you find yourself in a serious financial crunch.
In a pinch, Sonic Cash can help you get you through your insufficient funding dilemma. This service hosts a secure site, posts their APR information, often does not require faxing.
This payday loan service operates stateside, as Sonic Cash LLC, out of Idaho and upon approval can direct deposit funds into your famished account in less than 24 hours.
Secure Site: Excellent
Sonic Cash appears to operate a secure site that can sufficiently protect your confidential information. However, always check for secure transfer indicators such as the “https” in the URL and the padlock in the bottom right corner of the screen.
Ease of Use: Excellent
Sonic Cash has an easy to fill in form; however, they do require references, direct–deposited payroll and a valid email address. As long as all of the information on your application can be verified, they do not require you to fax additional items.
The approval process is quick, often less than one hour or in some cases less than one day. They can direct deposit funds in less than 24 hours.
Cost of Loan: Excellent
Sonic Cash’s fees are average, at $20 per $100 for up to 18 days and $20 per $100 for extensions. They allow up to three extensions and charge a $20 Non Sufficient Funds (NSF) fee.
Customer Service: Excellent
Sonic Cash offers customers information via a FAQ page, email address, fax number and a telephone number. We sent them an email requesting more information and they responded within an hour.
You can also contact the Department of Finance at 700 W. State Street, 2nd floor, P.O. Box 83720, Boise, Idaho 83720, (208) 332–8000 to find out more about Idaho lending laws. Since they operate out of Idaho, they post on their website that you should be familiar and agreeable to Idaho lending laws before you enter into an agreement with them.
Summary:
Sonic Cash requires typical fees for loans and can approve loans quickly. For first time loans, they may loan up to $200 and after you establish a good record with them, they may increase your future loan amount to up to $500.
PayDay One (http://www.paydayone.com) is a great option for getting loans online. The service is professional, and at $15 for every $100 borrowed for 14 days (interest rates vary by state), they are the best deal online.
So, before bouncing yourself to the poor house with returned check charges, over the limit or late fees, check out your alternatives. This service may be a good choice to get you out of a rough spot and Payday One will prorate your fee if you pay off your balance early.
This service provides two ways to apply (online and over the phone), and all lenders are US based, authorized, and state licensed. PayDay One is available in 31 states, and have the lowest interest rates we’ve seen. PayDay One even has a Great Rate Guarantee, which means they will match any lower priced loan you may find (from similarly licensed online lenders).
Secure Site: Excellent
PayDay One appears to support safe transfers of personal information and they are SSL secured. However, since they work with a number of lenders, check for encryption indicators such as the “https” in the URL and the padlock in the right bottom of the screen. Additionally, do not send personal data like your social security number through an unsecured email account.
The PayDay One website is McAfee and VeriSign secured. furthermore,PayDay One is an accredited business by the Better Business Bureau.
Ease of Use: Excellent
We found the application easy to fill in and submit and they rarely request additional information. You receive instant approval or denial and if approved, funds are deposited the next business day.
PayDay One also doesn’t require you to fax them anything, and was the first lender to offer fax-free loans. Not having to locate, go to, and pay for a fax machine makes the loan process a whole lot easier.
The application online is quite simple, and can be filled out and submitted at any time. You can also apply for the loan over the phone (7am to 8pm M-F, 8-5 Saturday, Central Time). Loans made before 5 pm (CT) are credited the next business day. The whole process is straightforward and easy, and the user interface for applying and managing payments is simple.
Cost of Loan: Excellent
PayDay One has the cheapest finance charges of any of the services we looked at—others offer introductory rates but PayDay One’s are the cheapest all around. Interest rates vary by state, but we found several as low as $15 for every $100 you borrow, which amounts to an APR (Annual Percentage Rate) of 391.07% based on a 14–day loan. While extremely high on an annual basis—it’s less than half the cost of some, and significantly less than the majority of services we reviewed.
We could not find any information on how much it costs to refinance or extend a loan, so be sure to check this information out before you agree to a loan or extend a due date.
Customer Service: Excellent
Although not perfect in this area because live chat is not offered—PayDay One does offer several ways to contact them for further information including a FAQ page, email and a telephone number.
Keep in mind that a loan may be offered through a different source and you may be required to work with their customer service.
Summary:
PayDay One offers the lowest finance fee we could find and offers a great overal process. If you are facing a potentially expensive financial predicament, and need quick relief, this service is worth investigating.