Are Online Payday Loans Safe?
Online payday loans are a quick way you can get a couple hundred bucks to cover some expenses before your next paycheck. If you’re interested in a payday loan, don’t overlook the importance of safety and security. Safe online payday loans will protect your data and privacy, while ensuring security throughout the entire process. Let’s take a closer look at how you can know when payday loans are safe.
How to Know if an Online Loan Application is Safe
Since you’ll have to provide your financial details when you apply for an online payday loan, security is key. Here’s how to ensure your financial application is secure.
1. Look for Https in the URL
The easiest way to check for online security when you apply for an online payday loan is to look for https. Https (rather than http) in front of the URL ensures the safety of data when it’s shared. It’s a must for payday loan lenders and other businesses that request and store sensitive financial data. Don’t ever submit any personal information to a site that doesn’t start with https.
2. Check for a Lock in the Address Bar
While https indicates that a site is secure, a lock icon in the address bar signifies that any data you send will be encrypted. What does this mean? It means when your data is encrypted, it’s protected from being stolen for fraud and can give you some much needed peace of mind. Be sure to check for a lock in the address bar and only apply for a personal loan on a website that has one.
3. Confirm the Business is Reputable
Not all lenders offer safe secure payday loans. In fact, some of them disregard safety altogether. Before you apply for a payday loan, do your research to make sure the lender is not only reputable but also prioritizes safety. To determine if a lender is reputable, you can read online reviews and explore their ratings on websites like the Better Business Bureau (BBB) and the Chamber of Commerce. Advance America features an A+ rating with the BBB.
In addition to a history of secure and fair transactions, the lender should clearly list their physical address and contact information on their website. It’s also important to double check that your lender is licensed by the state in which they’re located.
4. Look for a Direct Lender
In most cases, safe online payday loans come from direct lenders. Direct lenders handle every aspect of the process on their own. Unlike loan brokers (loan connection services) who connect borrowers to multiple lenders, direct lenders give you the option to limit sharing of your data. They keep your information safe and secure internally.
Is Your Social Security Number Safe to Supply for Online Loan Applications?
Most payday loan lenders require you to disclose your Social Security number. This allows them to help confirm your identity and prevent fraud.
Before you input your Social Security number in an online application, check for the https and lock in the address bar. Also, review their official affiliations to make sure they’re a legitimate company that will keep your personal data secure.
Is it Safe to Supply Your Bank Details for Online Loan Applications?
If you’d like an online payday loan directly deposited into your account, you’ll need to supply your bank account details. These include your routing and account numbers.
Don’t reveal your account details unless you’re sure your data will be encrypted. A professional affiliation, the https, and lock icon will let you know that your data will be secured throughout your transaction.
Advance America Provides Secure Online Payday Loans
If you’re asking yourself which online payday loans are safe, check out Advance America. Advance America is the premier lender for safe online payday loans, with a history of safe lending since 1997. While we’re headquartered in Spartanburg, SC, we’re officially licensed and registered to conduct business in 27 states.
For over 22 years, we’ve served as a direct lender and earned an A+ Better Business Bureau rating, 5-star TrustPilot rating, and over 75,000 positive reviews on Google. All of our online loan applications include robust security and encryption to ensure your personal data is as secure as possible.
For more information on our safety and security, take a close look at our Privacy and Terms.
How to Apply for a Secure Payday Loan Online
To apply for safe online payday loans with Advance America and receive your funds as soon as today, follow these steps.
1. Collect Information
Before you start the application process, make sure you’re able to provide the following information:
- Social Security number
- Active email address
- Active checking account
- Source of income
2. Go to the Advance America Website, AdvanceAmerica.net
Visit the Advance America website to begin the online application. Once you’re there, you’ll need to.
- Provide your contact information.
- Tell us about your income information. We accept many types of income.
- Share banking details. (You’ll need both your checking number and ABA routing number. Prepaid cards are not accepted.)
- Submit the application
- Receive an instant approval decision
- Get money as soon as today. Online approvals before 10:30 ET (M-F) are typically funded to your bank account by 5PM ET same-day. Approvals after 10:30 ET are typically funded in the morning the next banking day.
Fortunately, safe and secure online payday loans do exist. They’re a great short-term financing option that can help you out until you get your next paycheck.
The above information is provided for informational use only. Advance America is not responsible for any loss or damage resulting from your reliance on the material provided. This information is accurate as of the time it is posted; but it may not be updated regularly, so it may not be current information depending on when you read it. You should consult with your own financial professional when making financial decisions.