how long do you have to have a checking account open to get a cash advanced?

Question

i mean like an advanced pay day loan

Answer 1

Do yourself a big favor and stay far away from payday loans. The interest rate is like 600%. Once you start, you just keep getting in deeper and deeper.

Figure out some other way to get the cash. Have a garage sale, mow some lawns, sell blood, get a second job ..

Answer 2

What do you mean? A "cash advance" is a term usually used in association with credit cards; it has nothing to do with whether or not you have a checking account.

If you mean to get money out of your account that you deposited, it is usually the next business day unless your bank placed a hold on the funds. If they did, then they should have given you a notice explaining why, and for how long the availability of the funds will be delayed.

Edit: I would HIGHLY discourage you from getting a payday loan. The interest is ridiculous, and if you don't have the money in your account when they go to cash it, not only will the bank charge you an NSF fee, but so will the payday loan place. Do this ONLY if you are CERTAIN you will have the money when they come to collect.

Answer 3

Usually, the day that you open your checking account the bank will tell you how much you can advance from your checking account. If you wanted to you could take an advance out from your checking account the same day.. The only way that you wouldn't be able to get a cash advance from your checking account is if your credit score isn't that great, or if you have been reported to check systems for writing bad checks. But other than that you should be good to go to get a cash advance.

Answer 4

More than likely you would have to wait until your printed checks arrive.

I would also caution against using these "lending" places. The rate charged is outrageous. It would probably be better to either do without whatever it is you wish to purchase, or find a friend or relative to lend you the money. You may have to listen to some unwanted advice, but I guarantee it will be cheaper than starting the downward spiral of pay day lending.

Answer 5

ususally the next business day you will be able to draw money from your account. It is always a good idea not to put all of your money in a new account for this reason.

Answer 6

as far as i read i thinks it's aleast 5mos or so.my husband took out one with our joint account and it's only 9mos old but at the time we only had it 5mos.so i think thats right.