Getting a payday loan online in the UK has become a lot easier and much more accessible to those who require a cash loan fast. Whether you are in need of money quickly or have found it difficult getting credit elsewhere then a no debit card payday loan is the solution for you.
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To qualify for a loan you will need to meet some essential criteria, you need to be a UK resident of at least 18 years of age and have your own bank account. Many lenders do prefer that you have a debit card associated with your bank account but this is not essential. Many lenders now offer alternative methods of repaying your payday loan such as a direct debit.
Whilst it is easier and more convenient for lenders to use the debit card method to set up your loan repayment many will now accept direct debits. A direct debit is just an instruction to your bank to pay a specified amount of money to another individual or in this case company.
Once the direct debit mandate is set up it will be activated on the agreed date, it works much like a post dated cheque. On the specified day the amount that you have agreed to be repaid to the lender will be transferred from your bank account back to the lender to settle your loan.
This is an alternative method to debit card loans and allows people to get payday loans without a debit card. With a greater amount of repayment options being offered by lenders this means that more people will have the opportunity of borrowing money whom may not have been eligible in the past.
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