What is a Payday Advance?
A payday advance is a short-term financial management tool, designed for anyone in need of emergency cash until their next payday. An increasing number of consumers choose a payday advance to cover unexpected expenses or bridge a short term cash need without incurring revolving debt. Payday Advances are a sensible alternative to costly bounced checks, late payment charges, and tarnished credit.
How does it work?
It's simple. A qualified customer writes a check today for the amount borrowed plus the fee. They would then receive instant cash for the amount borrowed (minus the fee). We then hold your check until your next payday, not to exceed 31 days.
What do I need to apply for a payday advance?
Applying for a payday advance is quick and easy. All you need to qualify is an open checking account, verifiable phone number and a verifiable source of income. Helpful: When applying for a payday advance it is helpful, to have a copy of your most recent pay stub and/or phone bill. Providing this information helps make the approval process even faster.
How long will it take to be approved?
5 - 10 minutes! That's right! Once you have completed the payday advance application and submitted it to one of our friendly staff members, it only takes about 5 minutes to have your payday advance approved. And the process is completely confidential.
What are the charges or fees for receiving a payday advance?
Our fees are in compliance with applicable state and federal law. This service is performed for a one-time flat fee of $17.65 per $100 borrowed.
Example: If you needed $200 today. Simply write West Coast Cash a check for the amount of $235.30 Date the check for your next payday or the following business day and receive $200 instantly.
Amount paid directly to you $200 Total Prepaid finance charge $35.50 Total advance amount $235.30
If your loan is due 14 days from today the annual percentage rate is 460.16%. The Annual Percentage Rate (APR) will increase if the term is less then 14 days or decrease if the term is more the 14 days.
How is the advance amount determined?
State Law regulates the maximum advance amount available to consumers. Within the allowed range, you qualify for a particular advance amount based on your current income.
Does a poor credit history disqualify me?
No. West Coast Cash is in business to assist customers in their time of short-term need. While we do look at some credit history, we do not base our loan approvals on the traditional credit bureau reports. We base our lending decision on your ability to repay the loan.
Can I receive more than one payday advance at a time?
No. The Deferred Deposit Transaction Law stipulates that a payday advance service provider may transact only one payday advance per customer at any given time.
Is the transaction confidential?
Absolutely. West Coast Cash recognizes that you have the right to privacy. We also recognize that you have the right to elect your personal financial information to remain private and secure Therefore, the safe keeping of customer information is a priority at West Coast Cash.
How much does it cost to cash a check?
West Coast Cash charges a small percentage based on the type of check cashed and will not change as the face amount increases. If your payroll check is $5 or $5000, the rate stays the same. It is our goal to provide competitive rates in all of the communities in which we do business. All branch locations have our check cashing rates clearly posted.
I have an out of state check. Can you cash it for me?
Absolutely! It is our goal to do everything we can to cash your check. Many banks today won't release your funds until the check clears their banking system.
Do I receive cash today for my check?
Yes. West Coast Cash will give you immediate cash.
How can I send payments using Western Union?
The Western Union quick collect service allows you to send a payment directly to a participating lender in the United States.
How do I know if my lender got the payment?
You will receive a Money Transfer Control Number (MTCN) as your confirmation that the payment was sent to your lender and confirm receipt of the payment.
How can I find out if a company accepts payments through Western Union?
Most lenders participate at their own choice. You may contact your lender directly.
How much does it cost to send a payment through the Quick Collect service?
The fee to send a Quick Collect transaction is $11.95.
What information is required to send a payment using the Quick Collect service?
You will need the lenders CODE CITY, CODE STATE, and your billing account number in order to process the transaction. The lender can provide the correct CODE CITY and STATE if the lender accepts payments through the Quick Collect service.
State license issued by the Department of Business Oversight pursuant to California Deferred Deposit Transaction Law