Frequently Asked Questions

1. What is an Installment Loan?
It is a cash advance that is repaid over time with a fixed number of scheduled biweekly, semi- monthly or monthly payments of equal amount. Also known as installment debt, it gives you greater repayment flexibility. Moreover, it allows prepayment with no penalty, which will save you interest. Examples of installment loans are mortgage loans, student loans, car loans, home equity loans, etc.
2. What are flex pay installment loans used for?
There is no obligation on the use of these small loans. They can be used to pay bills such as car notes, utility bills, medical emergency, tuition fees, home repairs, renovation, etc.
3. What is the fee for your online application?
As a reputable lender online, we provide fee free personal loans. Hence there is no application fee.
4. How can I get a direct lender installment loan?
To qualify for a quick loan with installment payments, you must:
  • Be minimum 18 years old
  • Be permanent resident or US citizen
  • Be employed for the past three months
  • Be earning a monthly income of at least $1,200
  • Have an active bank account
  • Have a valid contact number and email address
  • Not be a debtor in bankruptcy case and should not intend to voluntarily file for bankruptcy relief, presently.
5. How to apply for a cash loan online?
Apply for fast cash on the go from mobile or from the comfort of your home 24/7 through CashAmericaToday. Click on faxless loan application and fill out your basic details. Request the amount and have the funds deposited directly into your bank account same day or at the maximum by next business day (if approved).
6. Do I need to fax any documents to get a short term loan?
No. We provide no fax or no paperwork online loans for your convenience.
7. How much money can I borrow on direct installment loans?
CashAmericaToday determines your loan amount based on your current monthly income. As a first time borrower, you can qualify for up to a maximum of $600. However, we will reward you by increasing your loan limit by $100 on each successful repayment. Note that we do not supply loans exceeding $1,000.
8. How long does it take to get approved for no credit check loans?
Almost instantly! We will contact you by phone or email within one hour of loan approval during normal business hours (Monday to Friday, 8:00 AM to 7:00 PM EST). For applications submitted after-hours, we will contact you first thing the next business day. However, due to different state and verification requirements, not all borrowers may be eligible for no credit check and quick approval loans from direct lender.
9. Can I get a guaranteed approval loan even with bad credit?
Yes. Even people with poor or low credit score are eligible to apply for our bad credit loans because we do not run credit checks.
10. What does APR on unsecured personal loans mean?
APR, the Annual Percentage Rate is the effective rate of interest charged on your loan.
11. How to calculate the loan cost?
The loan fee depends on the length and number of payments; in case you repay early, the fee will be adjusted based on your shortened payment schedule. We do not charge more than what the law allows. For more details on calculating installment loan costs, refer our rates page.
12. When will I receive my loan amount?
Receiving online cash depends on the loan approval. Faster the loan approval, faster is the cash deposited into your account via ACH (Automated Clearing House). For example, if you request your installment cash advance on Tuesday, you will receive it before the end of next business day on Wednesday.
13. Can I apply for an installment loan on weekends?
Yes. However, any loan requested on Fridays before 6:00 PM EST will be deposited on the following Monday. If that Monday is a bank holiday then, we will process your application on Tuesday.
14. What happens if I change my mind after taking out a loan?
If you request for a short term advance loan and then realize you do not need it, you can return it to us before the end of the next business day. For example, if you receive the loan on Wednesday, you have time until Thursday 7:00 PM EST to return it, without any penalty.
15. Do I need to write a check for repayment?
No. The amount is electronically debited via ACH from your authorized bank account on payment due date.
16. Are there any penalties for paying off the loan early?
No. Because these are no prepayment penalty loans. . It is best to contact us through email at support@cashamericatoday.com or call us at (855) 840-5688, and we will start the pre-payment process. In fact, you may even qualify for a refund of a portion of the loan's finance charge.
17. What is an ACH transaction?
ACH stands for Automatic Clearing House and is a method of electronically depositing or withdrawing funds from an account. When you provide a check as payment on your installment loan application, you authorize us to process the payment as a check transaction. When the lender presents an ACH request to your bank, it will send the specified amount of loan fees and/or principal to the lender which was outlined in your loan agreement. If the payment is returned for reason of insufficient funds, the lender can and will present the ACH Authorization to your bank again.
18. What do you collect and use my bank account information for?
We use your bank account details to process payments.
19. How can I trust you to withdraw the correct amount from my checking account?
CashAmericaToday follows all NACHA regulations. We are authorized to utilize the Federal Reserve Wire System. We always abide by the state and federal laws, and will never withdraw more money than you have authorized in our process.
20. How do I update my bank information?
To update your bank details, contact our customer service team by sending an email to support@cashamericatoday.com at least 2 business days before 4:00 PM EST payment due date. Alternatively, you can call us on (855) 840-5688. If you have already applied for your loan, you will need to fax in a copy or photo of a voided check or bank statement for the new bank account to (855) 840-5689. If you are supplying a photo of your voided check or bank statement, please note that the picture must be in the standard PDF or JPG formats in order for us to access it. Also, please note if you are submitting a voided check, do not submit Starter Checks, as we do not accept these as valid proof of bank information.
21. What if I do not have sufficient funds in my account on payment due date?
You must contact us at least two business days before the payment due date for setting up payment arrangements. You may obtain an extension by paying at least enough to cover interest earned up to that point (usually the finance charge previously disclosed as $30 per $100 borrowed and APR (Annual Percentage Rate) ranges from 365% to 1,564%, depending on the terms of the extension). We also recommend that you pay as much extra as you can to reduce the principal balance. However, we charge a NSF (Non-Sufficient Fund) Fee of $20.00.
22. How to request an extension or partial payment on my cash loan?
If you do not want us to withdraw the full amount on the due date, you have the option to extend your loan. You may make partial payments at any time prior to maturity on the principal balance without incurring additional charges.
23. Is my loan information safe with you?
Yes. We protect your data with a secure SSL server that uses the highest encryption standards. Besides, we never sell your information to third party lenders.
24. I am military personnel. Can I get an online loan from you?
We appreciate your service to the country and thank you for your interest in us. However, we do NOT provide loans to military personnel currently.
25. Why am I not receiving emails from CashAmericaToday?
CashAmericaToday uses email to keep you informed of your approval, repayment reminders and confirmation, promotions and more. This makes it very important that you receive all email communication from us concerning your account. To ensure you receive important emails from CashAmericaToday , please take a moment to add our email address support@cashamericatoday.com to your address book or to your SPAM "good list" or "whitelist". This helps your email provider to recognize CashAmericaToday as a trusted email source.
Didn't find your answer here? E-mail us at support@cashamericatoday.com
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We are registered with Utah's Department of Financial Institution to provide Consumer Credit. If you submit this application via the internet to us, we will receive and process it the same as if you submitted it to us in person thereby making Utah the place of negotiation, execution and performance of all applications and/or agreement. If we approve your application, the funds will be disbursed from our account in Utah. Utah law governing consumer loan agreements may differ from the laws of the state where you reside. Applicant is responsible for complying with all statutory obligations regarding obtaining loans by internet that may exist in their state of residence. This service may or may not be available in your particular state.
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