Payday Loans with Debit Card


written by

Charles Munyi
January 31, 2022

One of the minimum qualifying requirements from payday lenders is that borrowers must have a checking account. As a result, the lack of one may make it difficult for you to access cash when you’re struck with an emergency. Luckily, not having a checking account should not be an obstacle to borrowing a payday loan since there are lenders who offer payday loans with debit card. These lenders will load your payday loan onto your existing debit card or offer you their own debit card. But similar to other short-term loans, payday loans with debit cards should be a last resort since they carry interest rates topping nearly 700% APR.

What Are Payday Loans with Debit Card?

When you’re approved for a payday loan, most lenders will deposit the money directly into your bank account. If you don’t have an existing checking account, your lender may wire the money directly into a debit card. The lender will load the money into your debit card or issue you their own card loaded with the money. Since most debit cards are Mastercard or Visa, you can use the money to shop at retail outlets or pay bills. You could also withdraw the money from an ATM.

Applicants need to fulfill specific criteria to qualify for instant loans with debit cards. First, lenders require that borrowers be at least 18 years of age and have a valid proof of age. Lenders may also want proof that you have stable income, either through employment or government benefits. More importantly, you will need to maintain an active debit card. Meeting all these prerequisites increases your odds of getting a payday loan funded instantly into your debit card.

Applying For Payday Loans With Debit Card

The process of applying for a payday loan with debit card is akin to applying for a conventional payday loan. Here are the steps you need to follow:

Check Your Eligibility Criteria

You’ll need to check your eligibility for funding before applying for a payday loan with debit card. While eligibility requirements vary among lenders, here are the core requirements for most of them:

  • Be an adult of over 18 years.
  • Be a resident of the U.S.
  • Have a stable income.
  • Have an active debit card.

Fill Out the Application Form

Lenders will typically give you the option to fill out an online form or paper form when applying for a payday loan with debit card. Be sure to provide accurate information in your application since errors on your application form could delay the assessment of your application.

Pass the Credit Check

While lenders typically don’t perform credit checks on debit card payday loan applications, they may still want to assess your financial situation. They want to ensure you can afford to repay the loan without falling behind on due dates. Pay slips from your employer are sufficient proof of stable income but evidence of receiving government benefits is also considered.

Read Through The Loan Terms

Once you pass the finance check, your lender will require you to sign an agreement. Be sure to carefully ready and understand the fine print since it may contain information about the repayment plan and possible penalties for missed payments. Understanding your lender’s terms will also save you from unpleasant surprises down the road.

Receive Your Money

Once you’ve provided all the documentation and signed all the paperwork, your lender will wire the payday loan into your debit card. If you don’t own an active debit card, your lender may issue one of their own.

Pros and Cons of Payday Loans with Debit Card

Payday loans with debit card have a set of advantages and disadvantages.


  • Quick access to funds. Once a lender loads the money into your debit card, you can use it to shop at retail outlets, pay bills, or withdraw cash at an ATM.
  • Multiple lender options. If payday loans are legal in your state, you will have access to multiple lenders who can offer payday loans with debit card. Be sure to compare lenders to find the best option for your needs.
  • Set up your card for funding. The debit card where your payday loan is loaded could also be used to receive deposits from sources like tax refunds, paychecks, and government benefits. These deposits could be used to repay your loan.


  • High fees. Like most short-term loans, payday loans with debit card attract high fees, including processing fees and interest rates topping nearly 700% APR.
  • Short repayment period. Most payday loans are often due when your next paycheck arrives. This could strain your budget and leave you in a vicious debt cycle if you were already living paycheck to paycheck.

A debit card is a convenient way to receive your payday loan if you don’t hold a checking account. Even so, the costs and risks are similar to what other short-term loans carry. Luckily, payday loans with debit card are available to everyone who meets the eligibility requirements and funds can be used for various purposes.