Q: What is a payday loan?

A: A payday loan is designed to be used for short-term financial needs. The due date will be your next payday (up to 21 days). It is not a solution for longer term financial problems for which longer term financing may be more appropriate. Payday advance fees are, however, lower than many of consumers' alternatives.

In comparison, when expressed as APRs for 14-day terms:

• $100 payday loan with $30 fee = 782.14% APR
• $100 bounced check with $25 NSF + $24 merchant fees = 1,278% APR
• $100 utility bill with $50 in late fees and reconnect fees = 1,304% APR

Q: What is required to get a loan?

• You MUST be currently employed.
• You MUST be able to provide your current employment and residence information including contact phone numbers and addresses.
• You MUST be paid a minimum of $1000.00 net pay (take home) each month, including last month, from your employer.
• You MUST be paid via direct deposit from your employer (your pay automatically goes into your bank account).
• You MUST have a checking or savings account with no credit or debit limitations.
• You MUST have a checking or savings account that has been open for at least 60 days with a minimum of $1000 in direct deposits from your employer.
• You MUST not exceed negative $100.00 in your bank account the day you apply.
• You MUST not have more than 3 payday, cash advance or short-term loans you are owing or making payments to.
• You MUST not be in the process of bankruptcy or in bankruptcy.
• You MUST not be working with a credit counselor.
• You MUST be at least 23 years old to apply
• You MUST be a U.S. Citizen to apply

Q: How much can be borrowed?

A: As a first-time applicant, borrowers can choose $300 to $400 to borrow. After paying off the first loan, a customer can borrow up to $600!

Q: How soon can a borrower access the cash?

A: If the application is approved by 8 pm EST, the funds will be electronically transferred (ACH) to the borrowers bank that day (Monday through Friday excluding bank holidays). The funds should arrive at the bank on the following Business Day. Weekend requests will be treated as though they are Monday requests, so funds requested on a Saturday will not appear in a checking account until the following Tuesday.

*Note: Some banks can take two (2) days to process and transfer the funds into your account. You may wish to contact the ACH department of your bank to verify that the funds have been credited to your account. MyMoneyChest accepts neither responsibility nor liability for delays caused by an outside financial institution.

Q: What if the borrower has poor credit or has filed bankruptcy?

A: Poor credit ratings will not affect the approval of a loan. That said, we will not be able to extend a cash advance to those who have filed for bankruptcy within the past year or those who have filed multiple times.

Q: How long does it take to get approved?

A: Dependant upon the time of day and how quickly complete the application process is completed and submitted, borrowers can be approved within minutes. Please keep in mind that any application submitted during weekends, holidays or after 9PM, EST will be processed the following business day.

Q: Do you perform a credit check?

A: Yes - MyMoneyChest will perform a credit check.

Q: Can you describe the payday loan process?

A: Applicants will begin the process by filling out our online application. Once submitted, we review the application and notify the prospective borrower either by phone or email regarding the status of the application. If the loan is approved and funds requested by 8PM EST, then the funds will be received by the borrower the next business day.

Q: What are loans rates? What does it cost?

A: Click here to see PaydayLoans Rates.

Q: What are the repayment options?

A: Customers have 4 payment options to choose from:

1. Extension: Pay only the fee
2. Extension Plus: Pay the fee + part principal (in increments of $50)
3. Pay the loan off in full by the due date
4. Pay the loan off early

For your convenience, your payments will be electronically debited from your bank account unless you make alternate payment arrangements. To avoid potential NSF fees, please ensure that your checking account is properly funded when we debit the account. If you need to make alternative payment arrangements, please contact MyMoneyChest's Customer Service Department. Please call 1-855-695-5536 or 1-925-948-0916 at least two days prior to your scheduled due date.

Q: When would a cash advance loan be due?

A: Since this is a payday loan, the due date is determined by the client's pay date. However, if at any time you have a discrepancy with your due date we encourage you to contact us to discuss the matter by calling our Customer Service Department at 1-866-611-4556 / 1-925-948-0916.

Q: What happens if a payment is not made on by the due date?

A: If a payment is returned by a bank, then our Collections Department will contact the customer in order to arrange a second attempt to debit the payment. A $30 NSF fee will also be collected with the next debit attempt.

Customers who are unable to make payments by the due date should immediately contact the MyMoneyChest Customer Service Department at 1-866-611-4556 / 1-925-948-0916 to work out other arrangements.

Q: Do applicants need access to a fax machine?

A: In the vast majority of cases, there is usually no faxing required in order to get approved! In some cases, if more information is needed, we will attempt to contact the customer by phone or email to request the needed information.

Q: How can applicants determine the status of an application?

A: All applicants will receive their status via email, or they may log in to MyMoneyChest to view the current status. Applications are processed 8AM to 8PM EST Monday through Friday. Dependent upon the time and type of application, applicants can be approved within minutes.

Q: Is my loan secure and kept confidential?

A: Every MyMoneyChest cash advance or payday loan transaction and customer information is completely confidential and protected per our Privacy Policy.