At Speedy Cash, the time it takes to process a payment can vary depending on a few things. Generally speaking, most customers will receive their money within one business day of submitting an application.
However, if you’re applying after hours, or if your bank or credit union has to verify information, it may take a day or two longer. If you submit an application on a bank holiday or weekend, the processing time will be extended to the next business day.
Additionally, customers in certain states where Speedy Cash has physical locations may experience faster processing times. Generally, if you visit a store to apply for a loan or other product, you can leave with your cash in hand in as little as 15 minutes.
How long does it take for a loan to be deposited into your account?
The time it takes for a loan to be deposited into your account can vary depending on the type of loan you are taking out and the lender you are working with. Depending on the lender, it can typically take anywhere from a few days to a few weeks for the loan to be deposited into your account.
The time it takes from a lender to process and approve a loan application, issue the funds, and have the money deposited into your personal account can depend on the type of loan you are taking out. For instance, a personal loan can take anywhere from days to weeks, while a mortgage can take up to 4 weeks or more.
Other factors that may affect the time frame of when the loan will be deposited into your account include the type of financial institution that you are obtaining the loan from, your personal finances and credit history, the complexity of the loan, and any bureaucratic delays in the process.
Overall, the amount of time it takes for a loan to be deposited into your account depends on an array of factors, including the loan type, lender, and other personal factors.
Is Speedy Cash reliable?
Yes, Speedy Cash is a reliable company with decades of experience in the financial services industry. They provide a wide range of financial products, including payday loans, installment loans, and auto equity loans.
They have been trusted in the industry since 1997 and are well-known for their fast and easy loan process, competitive rates, and friendly customer service. They also offer payment options such as direct deposit, debit cards, and money orders, so you can make payments quickly and securely.
With experienced and knowledgeable staff and an established track record, Speedy Cash is committed to providing the best customer service and loan products to their customers.
What happens if I don’t pay back Speedy Cash?
If you do not pay back Speedy Cash, you may be subject to late fees, additional interest charges and collection activities. Late fees and additional interest charges will vary significantly depending on your agreement with Speedy Cash.
Additionally, if you fail to pay back the loan in accordance with the agreement, Speedy Cash may refer your account to a third-party debt collector. In most cases, the debt collector will attempt to reach out to you via phone, email and letters in order to settle the debt.
If you maintain delinquent payments and communication with the debt collector, the debt collector may ultimately bring legal action against you. Furthermore, if you are sued, the debt collector may obtain a judgment against you which could be recorded on your credit report, drastically impacting your credit score.
As such, it is extremely important to maintain timely repayment of your debt to Speedy Cash in order to ensure that you are not subject to other consequences.
Does Speedy Cash hit your credit?
No, Speedy Cash does not hit your credit. Instead of performing a credit check, Speedy Cash relies on other information you provide to determine eligibility. For example, they may look at your income, employment and bank account information on their application to make a decision.
This means that you don’t have to worry about your credit score being impacted negatively if you use Speedy Cash. They also tell you what you need to provide in order to apply for a loan, so you can make sure you have all the necessary information to get approved for a loan quickly.
Does Speedy Cash approve everyone?
No, Speedy Cash does not approve everyone for their services. They evaluate each applicant’s financial situation and credit history before making a decision. However, they are less stringent with loan qualifications than many other lenders, which means they may be more likely to approve applicants with lower credit scores and income levels.
In addition, Speedy Cash offers a variety of loan services, and each may have different eligibility criteria, so it is important to review all of the options available before applying. In addition, Speedy Cash’s customer service representatives are available to answer questions and help people to decide if one of their services is right for them.
Who is Speedy Cash owned by?
Speedy Cash is owned by Global Management Solutions, Inc. (GMS). GMS is a diversified financial services corporation headquartered in Irving, Texas. GMS owns a number of financial services companies including Speedy Cash, Rapid Cash, Cash Fast, and Easy Cash.
GMS utilizes its wide-reaching financial services capabilities to provide funding, strategic advice, transaction support, and other services to its customers across the United States, Canada, Mexico, and the United Kingdom.
In addition to its financial services business, GMS also owns a financial technology business and a logistics business. GMS was founded in 1997 by Sandy McLean, who serves as the company’s executive chairman and CEO.
How does Speedy Cash verify income?
Speedy Cash verifies income for loan applicants in several ways. Depending on the loan product and the applicant’s individual application and financial situation, verification of income may be required from employers or from other sources.
Additionally, at least one form of valid government-issued photo identification (such as a driver’s licence) is required.
Employer verified income typically involves contacting the employer directly to obtain verification of employment, salary, or other income details. Speedy Cash may contact employers by phone, email, or other methods.
When applicable, income documentation that is not provided by the employer may also be requested, including copies of recent pay stubs, bank account information, tax returns, and more.
In cases where the applicant is not employed, other sources of income may be accepted, such as non-employment income, government benefit statements, and pension statements. These sources must provide verifiable documentation that provides evidence of the income, such as a copy of the statement or a recent bank statement.
Ultimately, each person’s loan application and financial situation is evaluated on a case-by-case basis, and income verification procedures will vary depending on the particular loan product being applied for.
Can I pay off my Speedy Cash loan early?
Yes, you can absolutely pay off your Speedy Cash loan early if you would like. Speedy Cash does not charge any fees for paying off your loan early. This can help to reduce the overall cost of the loan, as you will not be charged any additional interest.
If you wish to pay off your loan early, you can either make payments online through the Speedy Cash website, by phone, or by visiting one of their store locations. Depending on the type of loan you have, you may also be able to make payments using your debit card, e-transfer, or Western Union.
When paying off your loan early, be sure to have your loan information handy, including the loan number and loan amount, as this can help the process go more quickly and smoothly.
Is it easy to get money from Speedy Cash?
Yes, it is easy to get money from Speedy Cash. They offer a range of services to help you get the cash you need quickly and conveniently. Depending on your need and qualifications, you may be able to take out a loan, payday advance, or cash advance; or use a secured loan, line of credit, or prepaid debit card.
You can also get cash from one of their retail locations. Furthermore, if you are a repeat customer, you may qualify for their rewards program and receive additional discounts. With Speedy Cash’s easy-to-use and secure online application process and fast approval times, you can get the cash you need quickly and conveniently.
How do loan companies verify employment?
Loan companies typically verify a borrower’s employment to assess their ability to make consistent loan payments. Most lenders require at least two years of employment history to qualify for a loan. Generally, loan companies verify employment by contacting the applicant’s current employer directly.
The lender may ask to speak with a human resources representative or accountant to obtain a Verification of Employment (VOE) form. This form will typically include basic information such as job title, salary, time worked, and overall employment status.
Other factors such as credit history and assets may also be taken into consideration. As an additional layer of security, some lenders may also require a copy of the borrower’s most recent pay stub or a bank statement showing regular deposits from their employer.
Online loan providers may use third-party services to automate the employment verification process. These services use technology and data to scan for discrepancies or fraudulent activity in an applicant’s application.
In most cases, the employment verification results are available within minutes, sparing lenders from having to contact the employer and speeding up the loan process.
Do finance companies contact your employer?
Finance companies generally do not contact your employer. They are typically more interested in gathering information from you, the borrower. This may include proof of your current income, payment history, credit information, and other information related to your finances that may show you have the ability to repay the loan.
Depending on the loan process, you may need to provide additional documentation or authorization to the finance company so they can access your records, such as a paystub or proof of payment history.
Some lenders may use a third-party to help verify your employment and income information, but they will usually get the consent of the borrower and contact the borrower first. Ultimately, it is up to the individual loan process and the lender to determine if they will contact an employer or not.
Will loan companies call employer?
It depends on the loan company and the type of loan requested. Some loan companies may not call an employer, but instead collect information about the applicant’s current income and job history from other sources, such as tax records and bank statements.
Other loan companies may attempt to contact the applicant’s supervisor or the company human resources department to review the applicant’s overall financial steady and dependability. This contact is to make sure that the applicant is employed and able has been employed consistently, making it easier to judge the borrower’s capacity to repay the loan.
Additionally, lenders may use the information to verify employment and income to ensure that the borrower has the ability to manage debt and make timely payments.
How long does it take to receive money from a loan?
The amount of time it takes to receive money from a loan varies depending on the type of loan you have taken out, the loan provider, and other factors.
If you are taking out a personal loan through a traditional bank, it can take anywhere from a few days to a few weeks for the loan to be approved and the money to be deposited. Most banks will have an estimated time-frame you can use as a guideline.
If you have taken out a loan from an online lender, the timeframe may be much shorter. Many online lenders can approve a loan and deposit the funds within 24 hours.
In addition, it is important to note that some lenders may require additional documents or information before they can process the loan. This can add time to the overall process so it is important to prepare documents in advance and read the fine print before applying for a loan.
Overall, the exact amount of time you will need to wait to receive money from a loan can depend on a variety of factors. However, you may be able to find a loan provider that can process your loan more quickly.
How long does a loan transfer take?
The length of time it takes to transfer a loan depends on several factors, including the type of loan and lender, the amount of money involved in the loan, and the method used to transfer the loan. In general, loan transfers typically take anywhere from a few days to several weeks.
For short-term consumer loans, such as car loans, it typically only takes a few days for a loan transfer to be processed and for funds to be disbursed. It may, however, take longer if the lender requires additional documentation to be submitted or if there are large sums of money involved in the loan.
For mortgages, loan transfers typically require more paperwork, as well as verification and approval from the lender. This process can take several weeks. Additionally, if the loan is being transferred from an out of state lender to an in-state lender, this transfer may take longer due to the need for additional paperwork and verification.
The exact timeline varies from lender to lender and case to case, so it’s best to check with your lender for an estimated timeline.