FAQ – Frequently Asked Questions

What are the minimum requirements to apply?

To be approved for a MyCashNow payday loan, you must be at least 18 years of age. You should also have an open checking account that has been in use for at least 90 days. You must be employed and your checking account should reflect that you have a minimum of $1000 in deposits a month. We require a current phone number and we will need to verify your current job status with your employer.

How does MyCashNow work?

Once you have applied and been approved for a money loan, MyCashNow electronically deposits the loan amount into your checking account overnight.* When your payday loan is due, MyCashNow simply debits the amount of the personal loan plus the agreed upon interest rate straight from your checking account. After you have become a customer of MyCashNow, we offer many other convenient ways for you to get your cash. Click on the MoneyGram or My Cash Card section of the website for more details.

_{*To receive an overnight deposit, you must be approved before 4 PM PST or 7 PM EST on a banking day.}

How do I know my advance payday loan has been approved?

Once you have filled out and completed the online application, we will process your information and notify you when your application has been approved.

When will I be able to access my money?

If your cash advance gets approved prior to 4 p.m. P.S.T/7 p.m. E.S.T Monday through Thursday, then you can expect your money to be available the next business day. Money loans made on Friday will be available the following Monday. Personal loans that get approved over the weekend will be available on the following Tuesday. See our chart below for any further clarifications.

Day/Time of Approval	Day Available
	Mon	Tues	Wed	Thur	Fri
Monday by 4PM PST or 7PM EST		X
Tuesday by 4PM PST or 7PM EST			X
Wednesday by 4PM PST or 7PM EST				X
Thursday by 4PM PST or 7PM EST					X
Friday by 4PM PST or 7PM EST	X
Saturday or Sunday		X

_{Note: This chart does not represent banking holidays. For more information, please contact your bank’s ACH department.}

What if I cannot pay the amount I owe on my due date?

MyCashNow offers our payday loan clients an extension program to help our customers make their required payments. Our clients may extend their loan up to three (3) times and only pay the finance charge and the fees that are due at that time. After the third extension, we do require an additional payment of $50.00 toward the principal amount for loans under $600.00. For cash advances over $600.00, we require a fee of $100.00 that we attach to the principal.

MyCashNow customers who receive paychecks on a monthly basis are required to make a payment towards the principal on their 2nd extension. Loans of $599 and less require a payment of $100. Loans of $600 and above require a payment of $200.

Please understand that repetitive extensions can put you in financial distress. The extension program has been set up to help our clients and not as a way for you to incur additional debt. Please have a full understanding of the extension rules and guidelines.

All extension requests must be made by 4:00pm Pacific Time on the business day prior to your scheduled due date. Requests made after the deadline will not be processed.

Why do I have to pay extra on the principal after I have three (3) extensions?

Cash advances are meant to be short term loans that meet an immediate need. When customers take excessive extensions, they are putting themselves into further financial debt and creating a long term cash loan situation.

What is the minimum payday loan term?

We base our fees on a minimum 14 day loan term. There is no penalty for an early payoff. If it is paid off before the minimum 14 day loan term ends, the same fees apply.

How many open payday loans can I have with MyCashNow?

MyCashNow only allows one open account per household at any time. Please keep in mind that it takes four (4) banking days to process and clear your final payment when paying off your payday loan.

Can I get a cash advance loan with bad credit?

Yes you can! MyCashNow does not perform credit history checks on applicants. We check a database known as the Teletrack. This is an information sharing system which is used by loan agencies to ensure that the applicant does not have any previously unpaid advance loan balances.

Do I need a fax machine?

In most cases we do not require our clients to fax over any information to receive their payday loan. When you apply online, the application process covers the majority of the needed information. Our no faxing payday loans save our customers time and eliminate the hassle that is associated with sending documents back and forth for approval.

Can I apply over the phone?

Of course! Pick up the phone and call 1-866-392-2274 to have one of our professionally trained customer service representatives fill out the application for you.

If you have any further questions, please don’t hesitate to contact us!