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Sep 28, 2017 - 34 minute read

Payday loans with no bank account near me

It turns out there's a huge online bidding process for such loans. ETaxLoan isn't a lender at all, but something called a lead generator. It finds potential customers, then passes them on. When I tried to contact eTaxLoan to learn more, I might as well have been looking for the holy grail. The company's customer service line connected to a recording that said "due to an overwhelming response to great loans," it could not take calls. The site lists an address in Delaware - but the company isn't at that address.

I spent days trying to find the company's physical location, without success. And when I tried to call back the people who had offered me loans, I couldn't get through.

Payday loans with no bank account near me

This means your ID is scanned on all credit bureaus to ascertain risk, online. But all in all the application process is extremely easy. You will be required to create an account and submit your personal details including bank account details and employment history. Credit profile rating : Must be good or acceptable. One time pin (OTP) confirmation : One time pin is sent to your mobile phone and email confirmation is also done to complete application. Bank Transfer : Cash is only transferred to applicants name matching name as reflected on identity book.

Bank account number is also matched for legitimacy. Minimum loan application : R100 Maximum loan application : R2500 increased to R8,000 based on your good repayment patterns. Only big five banks are used : Nedbank, Absa, First National Bank, Standard Bank and Capitec. If you do not have an account with these banks, instant pay day loans can not be processed or considered.

Payday loans with no bank account near me

Unlike traditional payday loans, they are paid back over time periods longer than a single pay cycle. Plain Green says its minimum repayment cycle is four months. Ten months after Plain Green started making loans, Think Finance lauded the venture in a blog post as a big win for both consumers and the Chippewa Cree.

Dozens of tribal members are employed by Plain Green and every tribal member has already received a payment based on the success of the product. The tribe has even been able to rebuild a baseball field with revenues generated by Plain Green, the post said.

Like Think Cash before it, Plain Green makes small, short-term, high-interest loans to people all over the country who have no other source of credit. Although the company is nominally owned by the Chippewa Cree, the tribe has little actual involvement in its operations and receives a tiny fraction of the revenue generated by the business. The tribe has received an estimated 28 million to 32 million from Plain Green since it was created, according to documents obtained by HuffPost payday loans with no bank account near me were filed in tribal court as part of a case between the tribe's former chairman and other tribal leaders that involves the agreement with Think Finance.

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