FAQs Frequently Asked Question
Understanding the different types of loans is essential for making informed financial decisions. Loans can be categorized based on various criteria, including their collateral requirements and interest rates. Understanding our check cashing service requirements and so much more on our FAQ’s page. Continue below for all of our frequently asked questions.
General Loan FAQs
How long does approval take?
In most cases not long at all, Some can be approved in minutes.
What Is A Personal Loan?
At its core, a personal loan is a type of installment debt that allows you to borrow a fixed amount of money from First Choice Payday Loans which you then pay back in monthly installments over a set period.
What Are loans used for?
While the versatility of a loan from First Choice Payday Loans is one of its greatest strengths, They can be used for anything you like.
What documents are needed for a loan?
When applying for a loan, the documentation required serves one primary purpose: to provide the us with a verifiable “financial picture” of your identity, stability, and ability to repay.
What are the repayment & terms?
Our repayment & terms are sent to you before any loan is processed. Some types of loan have diffrent repayment & terms.
Payday Loan FAQs
What is a payday loan?
To understand how these loans function in a professional context, consider these defining features:
- Short Duration: Typically, the loan term is between two to four weeks.
- Repayment Structure: Borrowers often provide a post-dated check or authorize a digital debit from their bank account for the full loan amount plus fees.
- Minimal Requirements: Unlike traditional personal loans, payday lenders often do not require a high credit score, focusing instead on proof of steady income and an active checking account.
What do I need to apply for a payday loan?
Primary Eligibility Requirements:
Age: You must be at least 18 years old.
Citizenship/Residency: You generally must be a U.S. citizen or a permanent resident with a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Active Bank Account: You typically need an active checking account in good standing. This is used both to deposit the loan funds and for the lender to withdraw repayment automatically.
What documentation do I need to apply for a payday loan?
Required Documentation:
When applying online or in-store, have the following items ready to ensure a smooth process:
Government-Issued Photo ID: A valid driver’s license, state ID, or passport.
Proof of Income: Most recent pay stubs or a bank statement showing consistent direct deposits. We also accept proof of Social Security, disability, or pension income.
Bank Information: Your routing and account numbers (often verified via a voided check or digital banking login).
Contact Information: A valid phone number and email address for application verification and loan disclosures.
How do I apply for a payday loan?
You can apply online right here on our website, Complete the online payday loan application and Receive an instant decision in most cases. Also can stop by one of our locations.
How will I know if I am approved? When will I receive my funds?
If you apply online and you are approved, We offers different ways to receive loan funds:
Instant Funding to a Debit Card, Direct Deposit to a Bank Account or Pick Up Cash at an one of our store locations.
If you apply in store you will receive cash in hand.
Learn more about our: Payday Loans
Check Cashing FAQs
How can I cash a check without a bank account?
Just need to stop by one of our locations with an ID.
What kind of checks can I cash?
- Tax Refund Checks
- Social Security Benefits
- VA Benefits
- Stimulus or Economic Relief Checks
- Payroll Checks
- Cashier’s Checks
- Certified Checks
- Money Orders
- Traveler’s Checks
- Personal and Business Checks
What's the fee for cashing a check?
Different types of checks have different fees. We do keep then as low a possible and follow state regulated service fees. It is best to ask at the time of service.
Can I cash my tax refund check?
Yes, you can absolutely cash your tax refund check. Since federal and state tax refunds are government-issued treasury checks, they are considered highly secure, which gives you several flexible options for cashing them even if you do not have a traditional bank account.
What kinds of ID's are acceptable when cashing a check?
- State-issued Driver’s License: The most standard and widely accepted form of ID.
- State-issued Identification Card: For non-drivers; carries the same weight as a license.
- U.S. Passport or Passport Card: A high-security federal document accepted everywhere.
- U.S. Military ID: Including active duty, retired, and dependent ID cards.
- Permanent Resident Card (Green Card): Or a valid foreign passport with a U.S. visa.
- Tribal Identification Card: Issued by a federally recognized Native American tribe.
Learn more about our: Check Cashing Service