(Sponsored) Cash loans online are a recent phenomenon that emerged with the prominence of e-commerce. An online cash loan is a payday loan, or cash advance, that is applied for, processed, and funded entirely electronically through an ACH. A consumer is able to conveniently apply for a loan with internet access and does not have to physically walk or drive to a local payday loan store to get the funds they need. This provides the consumer with more choices, as there are many online lenders to choose from, compared to the restrictions of local payday loan stores.
With an online cash loan, funding and payments are facilitated entirely electronically through ‘ACH’ or ‘Automated Clearing House’. This is a mechanism by which mass wire transfers are used by businesses to credit and debit customers directly through the customers bank account. The ACH process acts as a brokered wire service for which the business, or in this case the payday lender, pays a fee for the service.
Many consumers prefer an online loan, not only for the convenience, but also for the inherent anonymity it provides. Many consumers do not like to have to eschew their privacy by physically walking into a payday loan store to receive a cash advance. The majority of consumers prefer to keep their personal financial decisions private. An online cash loan provides this privacy element.
Payday Juice.comTitle Dough.com