Can I Get a Payday Loan on a Prepaid Debit Card?

Payday loans that accept prepaid debit cards are making their way to the top list of fast and easy financial services. They have proved to be a handy instrument when coping with urgent financial needs featuring more than 12 million borrowers across the globe.


Prepaid debit card loans hardly differ from other types of payday loans. The process of accessing is pretty fast and does not require any paperwork. Borrowers are free to apply online and get their fast cash within 24 hours (the timeframes may change depending on the lender’s policies and conditions). Minimum requirements and a simple application procedure have made payday loans that accept prepaid debit cards a #1 choice for millions of people who urgently need cash.

How Do Debit Card Payday Loans Work?

As a rule, a borrower is supposed to have a valid checking (banking) account. It is the general requirement established by most of the payday lenders. On the other hand, prepaid debit cardholders can also access a payday loan despite the credit score and other factors that can appear to be a stumbling block when accessing a conventional loan at the bank.

The entire process consists of several fundamental stages. They are as follows:

  1. You need to find a company that works with payday loans that accept prepaid debit cards.
  2. The application is available only for short terms.
  3. Borrowers are free to apply both online and live.
  4. A borrower should open an eligible account.
  5. A lender will transfer cash to the eligible account in case of approval.
  6. The money you get will be registered as a prepaid debit card.
  7. A lender will hand the card to you personally or send it online.

In some cases, a prepaid debit card can be sent via email or even phone. All prepaid debit cards are generally issued by Visa or MasterCard. It means that you are free to use them whatever you like whether at ATMs, retailers, digital stores, etc.

A good news is that your card is reusable. It means that you can use it even after you have paid out the debt. Moreover, a borrower can turn to the same or another lender using the same prepaid debit card for another loan.

Reasons to Opt for Payday Loan on a Prepaid Debit Card

This type of loan can be rather helpful. It hardly differs from other payday loans when it comes to the applicationprocedure. No stressful paperworkand long approvals. The core benefits include:

  • No Checking Account to Apply – despite general payday loan requirements, you do not need to have a valid banking or checking account for this type of loan;
  • Approval Despite the Credit – poor credit is hardly an obstacle when getting cash on your prepaid debit card in form of a loan;
  • Instant Fund Access – you can start using money 24 hours after the approval. Your card will be activated the next day.


A payday loan on a prepaid debit card is a faster and simpler way to get extra cash without meeting basic requirements.