Advantages of Payday Loans – Learn About the Advantages of Quick Loans

Waterpumpers, like any financial product, have both advantages and disadvantages. The disadvantages of such offers are unquestionable and it is worth knowing them, but I will devote a separate article to them. In this article, I will focus on their strengths. You will learn here what are the advantages of payday loans. You will learn the most important advantages of fast loans, which are guided by customers, looking for a loan. The payday’s advantages are particularly exposed by the parabanks, so that the potential customer only pay attention to them. Despite the wide variety of offers available on the non-banking market, they are similar to each other. As a result, the advantages of payday loans for each offer are similar.

Once you know the advantages of payday loans, also check their disadvantages.



Waterpots are granted via the Internet, therefore the security of personal data transferred is a key issue. That is why every non-bank institution uses technologically advanced websites and technical solutions that guarantee full data security.

Clearly presented terms and costs

These are also important advantages of payday loans, which are worth mentioning. In the case of the vast majority of offers, you immediately know what costs you will incur. Thanks to information forms and contract projects, you are aware of the conditions under which you enter into a contract. The costs are clearly defined and you get to know them right away because you have access to a cost calculator on every page of a non-bank institution. Thanks to him and a simple calculation, you know how the costs of a weekend will change. By specifying the amount you are interested in and the repayment time, you will learn how much your APY will be, commission, interest and you’ll know the total cost. There is a lot of talk about the transparency of non-banking offers, and yet you can still find offers where it is not the best. You can still find lenders’ websites where the costs are not clearly and clearly presented. They are simply hidden, so to find them, you have to spend some time.

The ability to borrow money without commissions, interest and other costs absolutely free

The ability to borrow money without commissions, interest and other costs absolutely free

Further advantages of payday loans, which are worth emphasizing, are undoubtedly the possibility of getting them for free. There are more and more promotional offers, so-called first loan for free. It is a promotion addressed only to new Clients who submit an application to a given institution for the first time. Thanks to being a new client in a given institution, you borrow for free. After the time agreed in the contract, you return exactly as much as you borrowed and no more zlotys.

Find out what to avoid when taking the first hour for free:

  • The first loan for free is a time trap?

Minimal formalities and documents

The advantages of fast loans are also manifested in the minimum formalities. Such offers do not require the provision of earnings certificates or other documents. To submit the application, you need an ID card, your own mobile phone and a bank account. The whole process is downloaded online without leaving your home. You do not even have to send scans of any documents.

Quick access to money

There are also other advantages of payday loans, which include the possibility of receiving financial support almost immediately. Often, we immediately need a cash injection in a small amount. If it happens that you need cash immediately, you can get it in as little as 15 minutes. At the latest, the money can reach your bank account in 24 hours. A lot here depends on the bank in which you have your personal account. Each loan company has several to a dozen or so bills in various banks, from which it executes loan payments. How fast your money will be credited to your account depends on whether it is in the same bank. The second factor determining the speed of receiving cash is the hours of interbank sessions. The speed with which you can get money is probably the most important advantage of payday loans, or at least that which customers most often drive, reaching for a few minutes.

Accessibility for people with bad credit history at banks

When listing the benefits of payday loans, mention should be made of the availability of Clients placed in Database or other debtors’ registers. Many people have a negative credit history in banks, which means that the road to credit is closed to them. In the event of the need to borrow money, the only solution for them is payday loans or multi -bank non-bank loans. However, I must point out that not all of these people can take a loan in any parabank. A lot here depends on the register in which the debtor appears. In the case of parabanks, it can be different with checking individual ones. There are companies that check all, but there are also those that check one or two. There are also companies that do not check applicants in Database. I will devote a separate article to the parabank which the debtors’ registers are checking. However, if you check my comparison of payday loans, you will find out which one is not checked in Database. If you want to find out which debtors’ databases are checked in case of a specific minute, you should read my review of this offer. There you will find information about all registers, which are checked for this offer.
Regarding checking or not the debtors’ registers, I must also mention that parabanks in some cases declare a liberal approach to information posted in them. However, it is difficult to predict how highly this approach is liberal. None of them discloses information about the amount or amount of debt that disqualifies the applicant. Either way, regardless of their level, everyone can try to apply.


In conclusion, I must point out that the advantages of payday loans are not very numerous, and their drawbacks are much more numerous. Due to their quantity and weight, I will devote a separate article to shortcomings. There are several dozen offers, but only in a few cases the advantages offset the disadvantages. Unfortunately, the overwhelming majority of disadvantages are much more than advantages. Apart from these issues, a person who is on maternity allowance with a bad credit history can apply for a break. Thus, almost everyone can easily get quick financial support.

I hope that you can capture all the advantages of payday loans. However, no one is infallible and something could have escaped me. Therefore, if you think I missed one, write about it in the comment under this article. I will try to answer and complete the article as soon as possible.

Change Current Account – Recommendation: Bank with Change Service


p> The question of whether it makes sense, even after many years of business relationship with a bank to change the checking account, also answers the Stiftung Warentest. The consumer advocates came to their current account audit 2016, the conclusion that savings up to 200 € per year are possible . This should be reason enough for every bank customer to take a closer look at the current offers. Even the average saving of 100 euros a year is an incentive.


Many bank customers are aware that they are simply paying too much for the account . On the other hand, they were reluctant to change their bank account due to the bureaucracy associated with a change. A lot has happened here. Since the summer of 2016, the legislator has obliged the banks to transfer all standing orders and direct debits to the new institute free of charge when the account is closed.

According to the Stiftung Warentest, an account change pays off as low as 60 euros annual account management fee. The test also showed that while there are still free checking accounts, these have shrunk in number.

DKB with account exchange service

DKB with account exchange service




Why change the account?



 A comparison between the free checking account of a direct bank and a paid account of a branch bank makes it clear why the account maintenance fee is “money thrown out the window”.


The direct bank customer handles all banking transactions online. For bar orders has either a card that allows him to withdraw cash for free at an ATM of a particular banking group. Alternatively, his bank offers him a credit card that allows him to make free cash withdrawals worldwide.

The branch bank customer handles all banking transactions themselves. Either this happens online from home on the computer or at the service vending machines in the branches. Anyone who still goes to the counter to have a standing order set up, is kindly but definitely directed to the machine in front of the ticket hall. The branch institutes have done nothing but to return the services for which they charge an account fee to the customer. Customers pay for themselves to serve themselves. For the banks, this is almost “money for nothing”, as Dire Straits once sang. For paper transfers, customers are properly asked to pay.

What needs to be considered when switching accounts?

What needs to be considered when switching accounts?



Of course, changing the bank only makes sense if it offers tangible benefits to the account holder. These advantages are, after all, it is about money, even in cash.

Account management

The account management must be done today free of charge. Some institutions will grant this from a certain credit entry. Basically, a free account management but without ifs and buts is preferable.

While the branch banks sometimes even charge a fee for the debit card, this is generally the case with credit cards. The situation is different with the direct banks. Debit card, or as it is called recently, Maestro card, and credit card are free components of the account package. As a rule, the fees are also valid for the partner cards.

Cash withdrawals

The biggest differences are in the cost of cash card credit cards. This is then charged at some institutions, even if a Maestro card is issued. This raises the question of how well the ATM network is developed. A Maestro card of the Cashgroup (Deutsche Bank, Comdirect, Commerzbank etc.) uses little in the Hintertaunus. The fees for a credit card but can be omitted in a foreign assignment. Here again, however, a distinction must be made between the banks, which allow an unlimited number of foreign withdrawals and the institutions that set a certain number per year.

Direct providers who are not members of a banking association usually do not issue a Maestro card. Here, the bar orders at ATMs are limited to the use of credit cards. This is done free of charge.


Another important factor is the interest rates on a new checking account. Thinking about credit interest is idle. Most banks have discontinued this payment many years ago. If there is another bank that pays the credit interest on the checking account, this, even before the beginning of the low-interest phase, has a rather symbolic character.

More important are the interest, which calculate the money houses for account overdrafts. The range of disbursement rates ranges from around seven percent to over twelve percent. Whoever covers his account more often, should therefore take care that he chooses a bank, which does not overcompensate for the saved fees at the old bank by the Dispozins. That would be a bad business.

The new customer premium

The new customer premium, which some direct banks offer, should only be of secondary importance when deciding on a new bank account. First of all, it is necessary to reduce banking costs in the long term. However, if you decide on an institution that pays such a premium, you can look forward to a credit between 25 and 120 euros, depending on the provider.