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Are you interested in obtaining cash immediately but you are concerned because you lack a bank account? Though many times borrowers are requested to have a bank account, some lenders do not require it before loan application. 

In times of emergency, opening a bank account can be difficult. However, if you don’t have a bank intermediary, it is more challenging to find a lender that trusts you. Thus, be careful: the possibility of obtaining a cash advance payday loan without a bank account implies a higher interest for your loan. 

So, it still is best to at least have a checking or savings account. The process of getting a bank account can take one to two days, and the time for obtaining the card is within seven to ten days. Checking accounts are required by most lenders, but savings accounts work too.

What is the Difficulty of Getting a Loan Without a Bank Account?

What borrowers should keep in mind is that lenders are able to check their financial situation through bank accounts. From there they obtain the information they need, so they can understand if you will be able to pay the loan you are applying for. Few lenders will accept loan applications that do not include a bank account. They may, however, need collateral to ensure that you will return the loan.

Is a Payday Loan a Cash Advance Loan?

While some lenders consider cash advances differently than payday loans, these are the similarities:

  • Quick and instant cash loan in both cases.
  • No request for a good credit history for borrowers.
  • The repayment process can last from two weeks to forty-five days, based on the lender.
  • If you don’t possess a savings or checking account, some lenders can deposit your cash loan into your debit or credit card.

Can a Cash Advance be Considered Helpful?

Cash advance loans are useful if you don’t have other options for funding and need money quickly. However, because the interest rates are greater, you must pay before the due date to prevent additional penalties or charges.

What is the Process to Obtain Cash Advance Loans Without a Bank Account?

Cash advance loans are applied for in the same way that other sorts of loans are.

Valid Government-Issued ID is Necessary

A genuine identity card is required by all lenders. They will need to confirm that the information you supply matches that on your ID cards and other papers. Additionally, your date of birth is required to establish that you are of legal age.

Car or Motorcycle Registered in Your Name are Collateral

These will be used as collateral. This is essential for lenders in order to reduce their risk and ensure that you will return your loan.

Complete the Application Online

When you apply online, you will not be required to complete any documentation. Lenders can provide the paperwork to be signed digitally if you need to sign it.


Obtaining a cash loan without a bank account might be difficult. Few lenders, however, accept loan applications without requiring a bank account. Instead of collateral, you will be charged higher interest rates. 

While it is possible to obtain cash loans without a bank account, it is still preferable to have one in case you want funds for a financial emergency.

Joyce Marter

Joyce Marter is a licensed psychotherapist with 25 years of experience and entrepreneur who founded and successfully sold Urban Balance, a national outpatient mental health company in the U.S. Marter is an adjunct professor at Northwestern University, international speaker, blogger for Psychology Today and mental health thought-leader specializing in the psychology of money.

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