FAQ

Understanding Payday Advance Loans

What is a payday loan?

A payday loan, which is also called a cash advance, is a short-term loan for a smaller amount of money than what you would apply for through a bank or financial institution. They are dubbed "payday loans" because they are approved and paid back on the terms of your next paycheque receipt. During the application process with Ezy-Loans, we verify that you have had steady, reliable employment with your current employer, and release funds to you based on your income and next payday cheque. Our online application process makes the process of receiving a payday loan fast, easy, and paperless.

How can a payday loan or cash advance help me financially?

You never know what life will throw your way. Unexpected financial emergencies can happen at any time, and you might not be prepared for these twists and turns in your life. Perhaps your car broke down, you're a little short on your rent payment, or you need to make an emergency home repair or purchase. Whatever your situation, a payday loan could be the answer to helping you meet your financial needs in a tight situation.

By using a cash advance system like Ezy-Loans, you can rest easy knowing that fast cash is on it's way! And, after using Ezy-Loans for the first time, your information will be stored in our system so that each consecutive cash advance will be even faster and simpler! Ezy-Loans is a reliable, trustworthy source of short-term funds, and can help bridge the gap between paydays to make life a little easier on your pocketbook.

What am I signing up for when applying for a payday advance with Ezy-Loans?

Once approved, your only responsibility is to repay the cash advance within the time period requested. Typically, your due date for payment coincides with your next paycheque, and is automatically paid electronically from your bank account so you won't forget! This makes using cash advance services such as Ezy-Loan convenient and easy, saving you the hassle and anxiety of possibly forgetting the repayment of your fast cash loan.

What are the benefits of a payday loan over using a credit card or applying at my bank for a personal loan?

Sure, there are a number of options when it comes to getting cash funds when you need them. You can always charge the funds on a credit card, or you can take out a personal loan through your bank. So why utilize a payday loan service when you have these other opportunities?

First, Ezy-Loans offers short-term payday loans for amounts of $600 or less. This makes it easy to pay back, and lessens the financial burden of borrowing money. When you put funds on a credit card, you pay interest, spread out your payments, and can end up paying late or not at all, causing you to incur late fees and affect your credit rating. A small loan through a bank or financial institution is typically not encouraged, and can take days for approval. When you're in a bind and you need fast cash, a payday loan from Ezy-Loans will get you the help that you need without the hassle!

Second, payday loans are easy to pay back in less time. Since the repayment schedule is set based on your next paycheque and is automatically withdrawn from your bank account, you don't even have to worry about forgetting to pay it back. We make it easy! Ezy-Loans understands that life can get busy, so not having to worry about monthly payments and extra fees can ease your mind when facing financial situations you didn't expect.

Third, consider the costs. When putting money on a credit card, you may run into late payments, high interest rates, and the risk of maxing out your funds and affecting your credit history. When taking out a personal loan, you are also risking missed payments and increased costs or fees. Using Ezy-Loans for a cash advance loan is a fast, easy, and reliable way to ensure you get the money you need, without unexpected fees and negative reports to your credit history.

Why does Ezy-Loans take a risk with short-term payday loans?

Ezy-Loans understands that everyone needs a helping hand now and then. And because we offer smaller, short-term cash advances, we have lessened our risk and responsibility through years of experience.

During the application process, we ensure that you have steady, maintained employment to determine your ability and capacity to repay the payday loan with your next paycheque. We arrange repayment directly and electronically through your bank, scheduled at the time of your next payday, to ensure prompt and reliable repayment. Through years of offering payday loans and cash advances, we are able to accurately determine eligibility for fast cash through our extensive review of your employment history and employer stability.

Applying for Ezy-Loans and the Approval Process

What is required for eligibility for a cash advance with Ezy-Loans?

Ezy-Loans offers a simple, easy way of getting a cash advance through our online application process. It is important that, when you apply for a payday loan with Ezy-Loans, that you fully understand your own credit history and employment situation. If you are new to your job, don't make at least $350 a week with your current employer, or have sporadic work and paydays, you may not be eligible to receive a payday advance. We prefer to lend responsibly, and we want to ensure that you don't take out a payday loan for funds that you may not be able to pay back. In order to qualify for an Ezy-Loan cash advance, we do require that you:

have a reliable part-time or full-time job
have been employed through your work for at least three months before applying'
you make at least $350 a week after taxes

By setting these guidelines for cash lending, we ensure that you are able to repay the cash advance loan in full without causing additional financial hardships during your emergency or unexpected cash situation.

How much of a cash advance can I receive at once?

Ezy-Loans makes it simple to get the money you need, when you need it.

During your first cash advance loan with us, we do offer smaller loans to help build rapport and establish a business relationship with you, allowing us to create a customer/lender bond and to partake in the importance of responsible lending. Your first payday loan can be up to $220 if you are paid on a weekly basis, $300 if you are paid fortnightly (biweekly), or up to $400 if you are paid monthly by your place of employment.

Once you have received and paid back your first payday loan with Ezy-Loans, you can then borrow up to $600 from us in future transactions.

Will any bank or financial institution receive funds in 60 minutes or less?

Most banks allow for immediate withdrawal of cash advance loans that are directly and electronically deposited into your account. However, it is important to understand that there may be some stipulations depending on your current lending institute. For example, if deposits are not made during business hours, or are made after a certain time of day, you may not be able to access the funds until the following day. Also, if you apply for an Ezy-Loan cash advance during the weekend or off-hours, you may not be able to get to the funds until the next business day starts.

How do I apply for an Ezy-Loan payday advance?

Applying and approval for an Ezy-Loan payday advance loan is simple, easy, and paperless. Our website allows you to apply for your payday loan online with a secure server in five minutes or less. No waiting in long lines across town, no embarrassing conversations for others to overhear in a public payday advance brick-and-mortar location, and no extensive paperwork is needed. Log into the Ezy-Loan website, start your application, and you can be approved and eligible for a cash advance in under five minutes!

What is the process of employment verification with Ezy-Loans?

After we receive your employment information, we will contact your employer's payroll office to ensure that the information is correct and to obtain information regarding the length of your employment, your income with the company, and when your paydays are scheduled. This allows us to accurately very that your information is correct and allows us the ability to suggest repayment dates for you that will coincide with your payday deposits.

What paperwork should I have available when starting the Ezy-Loan online application?

When you sit down at your computer to use Ezy-Loan's simple online application process, it is important that you have a few essential things with you to accurately complete the application for a payday loan. Since we're not visiting with you face-to-face, we need to verify some information to ensure you are the correct applicant. Ezy-Loan requires your name, physical address, phone numbers, current income and employment information. This helps us ensure that you have the capacity to handle repayment of the payday loan, and to verify your identity and eligibility for an Ezy-Loan cash advance.

Will my bad credit affect my ability to apply for an Ezy-Loan cash advance?

Ezy-Loans understands that things may have happened in your past in which your credit history may have been affected. This doesn't automatically make you ineligible for a cash advance with us. Although bankruptcies and extremely spotty credit histories may cause you to be declined for a cash advance loan, some defaults and missed payments here and there are not going to keep you from getting a payday loan with us.

After paying back my last Ezy-Loan payday loan, how soon can I apply for another one?

As soon as your payment has cleared through your bank for your first payday loan with Ezy-Loans, you can apply for another right away! Typically, funds received during the next cash advance come even faster, and the application process is even quicker than before!

How much will the cash advance cost me?

The first time you take out a payday loan with Ezy-Loan, you only pay a penny for the cash advance. However, when you utilize our services in the future, you will only have to pay a $45 flat fee, and then $30 for every week that you have your cash advance loan.

Explain the payday advance lending process.

Ezy-Loans makes it easy to get fast cash with a same day cash advance loan. From the comfort and privacy of your home, you can apply for a cash advance and receive it in no time at all!

First, you will start your application through our website. Your eligibility will be determined, and if you have the capacity to pay it back, then you will see a breakdown of fees and costs associated with your cash advance loan.

Once you approve and confirm that the fees and repayment schedule fits your needs, we then need to verify your employment. We can do this by either calling your employer's payroll department to confirm the employment details you entered, or you can fax over some paperwork to get the ball rolling. (After you have done this step, you will not have to complete it for future payday advances.)

You will receive an email and a text message confirming your cash advance application, and your funds will be sent electronically to the bank account of your choice. Most transfers occur within 60 minutes, making it easy to get the cash you need fast and efficiently!

Once you've completed a payday loan with Ezy-Loans, you will have member login information which will allow you to view your account, check repayment terms, and is where you would receive and apply for future payday advances if needed.

What if I submit an online Ezy-Loan cash advance application outside of standard business hours?

Although most of our customers receive their funds within 60 minutes or less, there are differences between banks and when the funds are received. If you are submitting an application for a cash advance outside of standard business hours, you may not see your payday loan deposit in your bank until the next business day. Also, some banks have certain stipulations regarding when deposited funds can be withdrawn, so it is essential that you check with your bank regarding their policies.

What do I do after my online payday loan application has been submitted?

Once you have applied for a payday loan through our Ezy-Loan online application and have been approved and confirmed the repayment terms and information, your requested funds will be deposited electronically into your bank account.

Why does Ezy-Loan need to contact my place of employment?

Ezy-Loan believes in responsible lending. Therefor, in order to ensure our customers can repay their payday loans, we need to determine their eligibility and the stability of their employment and income. When we contact your place of employment, we confirm a few things with the payroll department:

your reported income
your employment status and length of work
the date of your next paycheque to set a repayment date that works for you

If you do not want us to contact your place of employment, or are applying for a cash advance loan outside of standard business hours, you can fax us some documents that can help us make these determinations for you. In order to confirm employment without talking to your employer's payroll department, we need:

proof of address (such as a hardline bill like utilities)
three most recent paycheque stubs
recent bank statements showing paycheque deposits

Once you have done this with us during your first payday advance, you will not have to go through this process again.

When can I expect payment after submitting my payday loan application to Ezy-Loan?

Ezy-Loans prides itself in getting you fast cash! Our cash advances are deposited into your bank account electronically and may be available in less than 60 minutes. However, it is important to ensure there are no stipulations or policies with your bank that may not allow you to withdraw the payday loan funds, such as deposits made outside of business hours or after a certain time of the day. Once these funds hit your bank account, you can withdraw them or use them as needed.

How is my payday loan paid to me since I am applying via online means?

All of Ezy-Loans cash advance payments are deposited electronically into the bank account that you provide us when applying online. This makes it fast and easy to get your funds and use them as necessary.

How long is the online approval process for payday loans with Ezy-Loans?

Once we receive your payday advance application online, we will immediately contact your employer's payroll department to verify your employment information. This may be delayed, however, if we cannot contact your employer because it is outside of business hours, or if you decide you'd rather fax us the relevant information instead. Allowing us to contact your payroll department during business hours will be the fastest way to ensure approval and receipt of your cash advance funds.

Is there a faster way to get my money?

The only part of the Ezy-Loan process that may be held up is the employment verification process. If we cannot get a hold of your employer's payroll department in a timely manner, or if it is outside of standard business hours, we may have difficulty getting this portion of your application approved. However, you can speed up the process of receiving your cash advance by sending us the appropriate documentation that we can use to confirm employment instead, which includes:

proof of address (such as a hardline bill like utilities)
three most recent paycheque stubs
recent bank statements showing paycheque deposits

Once you have done this with us during your first payday advance, you will not have to go through this process again.

What if my employer's payroll department requires additional paperwork to release information?

Sometimes, companies will require a signed privacy statement and documentation from the employee in order to release sensitive information such as income, payment dates, and employment status. This document can be received, signed, and sent to us in order to get your cash advance completed, but this can slow down the receipt of your fast cash funds dramatically.

However, there is an alternative to going through your payroll department to confirm information for your cash advance. Instead, you can fax us a few pertinent documents in order to verify the data and move your application process along. In order to skip the verification with your employer's payroll department, you can fax us your:

proof of address (such as a hardline bill like utilities)
three most recent paycheque stubs
recent bank statements showing paycheque deposits

Once you have done this with us during your first payday advance, you will not have to go through this process again.

The Costs Involved with Ezy-Loan's Payday Advances

How is Ezy-Loan repayment made?

In order to make repayment of your cash advance easy and accurate, Ezy-Loans sets up a direct withdrawal of funds on the date of your next payday. This way, you won't forget to repay your payday loan, and this ensures that you will have the funds available to do so. It is a simple, mindless way of paying back your cash advance loan, which can keep you from getting charged bank fees and other charges due to late payments, overdraws, or other financial glitches.

How do I repay my payday advance loan?

When you apply for a payday loan with Ezy-Loans, we will set up a repayment date in correlation with your next paycheque deposit. On this date, the funds to repay the loan will be automatically withdrawn from your account so that you won't forget to make the repayment on your payday advance.

When do I have to pay back my payday advance loan with Ezy-Loans?

Cash advance loans through Ezy-Loans are set up for repayment the day you apply. When completing your online application process for a cash advance, we present to you a repayment plan based on your paycheque deposits. This way, when we electronically withdraw the payday loan repayment funds from your bank account, you will never have to experience a bank account overdraw since your funds are newly deposited from your payday payment. The repayment schedule is confirmed by you during the application process, and you can login to your online account to double-check the dates as well.

What happens if I can't pay back my payday loan amount on the given due date?

Ezy-Loans strongly believes in responsible lending, but we understand situations may arise where you may not be able to make the repayment of your payday loan on the original promised date. It is essential that you contact us if your account will not have the available funds to pay back the payday loan. By not doing so, you may incur additional fees and charges, both by Ezy-Loans and quite possibly through your bank or financial institution. We will do our best to work with you if an unusual situation arises, but it is important that you understand there may be financial consequences for not holding to your repayment date, and it could affect your ability to be approved for future cash advances through our company.

What happens if a financial situation keeps me from paying on the requested due date?

You never know when things may change. You might become unemployed, experience a serious illness, or have an unexpected emergency within your family. All of these situations may result in an unusual financial hardship that may keep you from being able to repay your payday loan with Ezy-Loans. We understand that circumstances may change, and we ask that you contact us if you ever experience an emergency situation that may keep you from making the original payments on your cash advance loan. Communication is key, and may keep you from experiencing extra charges and fees from our company as well as your banking institute, so be sure to keep us posted if an unusual situation or circumstance may arise.