Speedy Cash

• Loan Options
• Lending Policies
• Instant Funding
• Application Process
• Customer Service
• Security Center
• Responsible Lender

Loan Options

Speedy Cash provides a variety of loan options: 

• Payday loans — These loans are also known as cash advance loans, deferred deposit loans, and payday advance loans. Payday loans are typically due to be repaid in full on the borrower's next payday and do not require a high credit score for approval.
• Installment loans — These loans are paid back with equal payments over time with a set number of scheduled payments. Typically these payments are scheduled around the borrower's payday.
• Title loans — These types of loans allow the borrower to use their vehicle title as collateral. The loan amount is based on the value of the vehicle. The lender's name will be based on their title until the loan is paid in full.
• Personal lines of credit — Similar to a credit card, this is a loan where the borrower is approved for a maximum loan amount and can take out money as needed until the maximum limit is reached.

Speedy Cash provides detailed information regarding maximum loan amounts, example finance charges and APR (annual percentage rate) ranges for its loan products on its rates and terms website page. Typically, Speedy Cash offers loans from $50-$26,000.

Lending Policies

Along with several loan options, Speedy Cash has a few policies that we would like to highlight:

• 72-hour satisfaction guarantee — If a customer takes out a loan and then changes their mind, they can return the funds without paying any fees. 
• No early payment fees — If customers decide to repay the balance before the end of the loan term, there are no early prepayment penalty fees. Depending on the type of loan, early payoff can save borrowers money on interest and fees. 
• Credit limit increases — Speedy Cash regularly reviews its customers' payment history and will offer credit limit increases (or a higher loan amount) to qualifying customers.

Instant Funding

Speedy Cash is one of the first online lenders to offer an option to receive online loan funds instantly to a debit card. 

Debit card information must be provided on the online application and if a customer's debit card qualifies, "Instant Funding to a Debit Card" will appear as a funding option.

Application Process

In many cases, online applicants are presented with a lending decision in a matter of minutes after completing their loan application. 

Some applicants may be asked to provide further documentation, such as a valid form of identification for security purposes or proof of income, before receiving a decision. These documents can be provided in the form of a screenshot, fax, or email.

The company's in-store application process is also fairly quick. From the application to receiving cash, the process is about ten minutes. This process guarantees same-day cash if the application is approved.

Speedy Cash has the following basic loan eligibility requirements:

• Meet the age requirements in your state (18 in most states)
• Valid photo ID
• Email address 
• A steady source of income 
• Checking account

Customer Service

Several customer service contact methods are available for borrowers who have questions about their loans. 

Speedy Cash has a U.S.-based call center that takes phone calls seven days a week. Representatives assist with taking payments, refinancing loans, and applying for a loan over the phone. Customers have the option to search for their local representatives and storefront on the company's website by simply selecting the state that they are currently residing in. 

Security Center

There appear to be a significant number of scammers who try to gain access to consumer money by claiming to be Speedy Cash.

Speedy Cash aims to protect consumers and combat scams with an online security center that details known debt collection and loan scams, as well as warning signs for these scams.

The security center includes the email and phone number for the Fraud Department, so customers can easily report any suspicious communications from Speedy Cash to verify validity.

Responsible Lender

Speedy Cash belongs to the Online Lenders Alliance, which is a trade association that ensures borrowers are fully informed and fairly treated. 

By being a member, Speedy Cash must adhere to the alliance's Code of Conduct and Best Practices.

Speedy Cash is licensed in all states that require a license. The company displays the license for each state on the rates and terms pages on its website.

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• Loan Availability
• Consumer Loan Cost
• Additional Fees to Pay

Loan Availability 

This lender has broad availability across the United States, but it should be noted that its loan services are not available in all states. 

Currently, Speedy Cash loans are available in 28 out of 50 states. Potential borrowers should check if this lender is available in their state before beginning their loan application. 

Consumer Loan Cost

As with all short-term lending options, payday loan lenders can have high interest rates, up to several hundred percent APR. 

Potential borrowers should remember that these types of loans should be used for short-term financial needs only and not as a long-term financial solution. 

It's also worth noting that many of the loans Speedy Cash offers have loan terms less than a year. This means that looking just at the APR can make the interest look higher than it actually is. 

Additional Fees to Pay 

When customers borrow a loan with Speedy Cash, they could be faced with additional fees. With a Speedy Cash line of credit, fees are based on daily interest. 

Because the loan terms vary by state and product, borrowers should be prepared to read the terms of their specific loan very carefully before signing any loan documents.