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An Alternative to Payday Loans Online on Debit Card


Payday loans online on debit card with no credit check have become some of the most important solutions for financially challenged US citizens. Around 70,000 private funding companies like Hartloan are operating on the territory of the United States. Some of them are more generous in their funding offers, while others impose stricter obligations. The main point is that Americans have an opportunity to borrow a certain sum of money.

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Why Americans don’t refer to banks and credit unions? Well, they do. But they have fewer chances to get the necessary level of funding there. This is especially the case if their credit past is not flawless. Of course, you might find some exceptions on the market.


U.S. Bank, one of the major banks in the country, has started delivering customers high-value loans. They say that the loans support borrowers in their financial needs.


The borrowed sums of money range from $100 to $1,000. They are meant to assist customers in handling sudden expenses, such as a car repair and a medical receipt. The vice president of U.S. Bank claims that banking sales and customer support are associated with annual interest rates reaching 70%.


The bank borrowings are created as an alternative to payday loans online on a debit card. Sometimes, interest rates get as high as 400%. They must be repaid in full value from the borrower’s upcoming paycheck. Payday borrowings are often taken out by US citizens whose credit ratings are incredibly low for classic loans.


The Office of the Comptroller of the Currency, the leading financial authority, gave more space for banks to issue small loans. U.S. Bank issues new “simple” loans that are considered to be more customer-oriented. The loans are covered in three equal payments, not a full sum of money. The bank will not exclude a planned payment if it would address a customer’s personal account. This way, the customer won’t have to deal with insufficient-funds penalties. The same goes for payday loans online on debit card with no credit check. While borrowing $500, the penalty would be around $60. This equates to an annual interest rating of about 70%.


Customers are expected to get a checking account with U.S. Bank before requesting extra cash. The bank manages a credit check before confirming the borrowing application, which might cause problems to the applicant’s personal reputation.


Reaction to payday loans online on debit card has been confusing. Nick Bourke, responsible for funds at the Pew Charitable Trusts, encourages the formation of affordable small loans. Once the program is brought to the market, the major banks seem to provide less risky small loans. This helps consumers with financial complications. The U.S. Bank borrowings have some nice features. For example, restricting loan payments can make up 5% of the personal monthly income.


U.S. Bank’s new loans can be estimated at $12 for each $100 borrowed. All payments are transferred to a customer’s account. This is going to be a high-cost borrowing, with a clearly stated system of fees and penalties. The bank has received strongly positive reviews from customers.

The Center for Responsible Lending expressed some skepticism addressing the value of U.S. Bank’s offering. It states that the loans are still too costly for low-income social categories. Many of them are already experiencing debt obligations.

While the bank doesn’t let the customer’s checking account be charged through a financial charge. Compared to the loans issued by, the bank’s borrowing itself can cause the account’s balance to decline to the lowest possible level.