FAQs - Online Fast cash Loan Service

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Does it cost anything to use FaaastCash?

There is no cost to fill out a form and submit your information through our online system. We are a referral partner with more than 100 lenders. If a lender decides they would like to provide a loan to you, they will contact you directly. As a referral marketplace, we do not receive any information that allows us to evaluate or compare offers from potential lenders. Please carefully review any offer you receive from a lender to make sure it meets your needs, and you fully understand the loan terms and conditions.

When will I know if my payday loan request is approved?

Normally, you will know if your payday loan online request is approved within 1-3 minutes, sometimes, within seconds. If there is a short delay, stay on your phone, do not hang up, as you will lose your opportunity if you are approved. If, for any reason, you are not approved, you will also be notified in the same time frame.

What are the terms and details of my loan?

FaaastCash is not a lender, so that information is not available to us. Once you have been connected to a lender to work with, they will provide you the terms and conditions of your loan offer. It should include the interest rate, dates for repayment, finance charges, and more. Different lenders offer different kinds of loans. Remember, you have a choice of whether or not you want to accept any loan offer. If you don’t agree to the terms of the loan offer, you can decline the offer.

What happens if I’m late on a payment, don’t pay the loan back, or default on loan?

You don’t want to be in this situation, but you do have options if this occurs. First, contact your lender as soon as you know you will not be able to make your payment. Most lenders will work with you to “rollover” the loan and set new payment dates. However, there are additional fees for this process. Extending your loan is a costly option that should be avoided as much as possible. You are better off paying your loan on time and taking a second loan than rolling it over.

Can I get a payday loan without going through a credit check?

Most, but not all, payday lenders use databases to assess your credit history and do not do direct credit checks. However, we cannot guarantee that a credit check will never be made by any specific lender. As a referral source to over 100 lenders, it is impossible for us to monitor every one of them. There is truly no such thing as a ‘no credit check’ loan. See the next question which is relevant to this one.

Can I qualify for an online payday loan with bad credit?

Bad credit may be an approval factor, but it does not prevent millions of people each year from getting an online payday loan. It is more important that you meet other criteria like having a steady job (at least 6 months) and a working bank account, etc. Every day people with bad credit receive the benefit of an emergency payday loan.

How soon can I get my money in my bank account?

If your loan is approved, you will get your money deposited directly into your account the next business day. However, it may take longer if you are accepting the loan offer on a weekend, holiday, or any other non-business day.

How many payday loans can I have?

There are 2 answers to this question: 1 and more than 1. Let us explain. It is always best to have only 1 loan, pay it off on time, and then get another if you need to. Rarely, you may be approved for a second loan, but most lenders do not do this as it has proven to be very risky for them.

Do social security, pension, disability, and other kinds of benefits qualify as income?

Some lenders accept social security, pension, disability, or other kinds of benefits, as qualifying income. If you receive at least $800 a month as well as meet other lender requirements, you may be able to get a loan offer. Other conditions may apply and will vary from lender to lender and state to state.

I have a job and also receive benefits. Which form of income should I use on my form?

If your normal income is at least $800 or more per month, it is best to show this income as your primary income on a loan request.

What can I use my loan for?

You may use your funds for whatever you need, including one-time special events like weddings, unexpected expenses like car repairs, and emergency medical expenses or almost anything else that requires emergency funds. We recommend you do not get a loan for everyday expenses or as part of your monthly budget.

What is APR? What does it mean for a customer?

APR is the annual percentage rate charged for borrowing that represents the actual yearly cost of funds over the term of a loan. Payday loans have very high APRs because they are fee-based and not intended to be used like an auto loan for 60 months, or a home purchase for 30 years and so on. Online payday loans are expected to be paid back on your next paycheck and are not intended as longer-term loans.

How does FaaastCash secure all the personal information I provide them?

FaaastCash uses the latest 256-bit encryption system and updates it on a consistent basis. FaaastCash also does not retain your data for long and does not resell your data. We are a referral service directly to over 100 lenders. Once your request is referred, the process becomes one directly between you and a lender.

What is the maximum amount that I can borrow?

You can borrow between $100 and $1,000 with a payday loan online. However, the exact amount you can borrow depends on quite a few factors. If approved, your lender will contact you directly and discuss how much you are approved for. Most online payday loans are for $500 or less.

Also, the amount you can borrow is often affected by the state you live in. Some states do not allow payday loans, while others restrict the maximum amount that can be lent and so on. Check your state government website to learn more about the payday loan rules in your state.

If FaaastCash isn’t a lender, why should I use your website?

Faaastcash.com is a free resource that provides a marketplace where potential borrowers and lenders can come together. We offer simple, quick, and secure access to lenders. Instead of waiting in a line at a storefront or searching online for lenders, our website can make the process of finding a lender faster and easier! You can avoid wasting your time and simply request a loan offer by submitting your information through the FaaastCash loan marketplace.

Why do you need my employer’s phone number?

FaaastCash is not a lender, and we won’t contact your employer. After you connect with a lender, some may call the number you provide to verify your employment, but they typically do not discuss your financial situation. Remember, the form is asking for the main number of your employer, so make sure you are providing the correct one.

Why do you need my banking information before I find a lender?

Lenders simply need to make sure they can make a direct deposit into your bank account if you accept their loan offer. Faaastcash.com is free to use, so you won’t be charged any fees to use our referral marketplace.

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