Instant payday loans

Instant payday Loans

If your expenses have gone out of control in this week, and you have no cash left you can avail the instant payday loans. You just need to go online and compare various plans of direct lenders. These loans range from $100 to $ 1500 on an average, and are unsecured. You do not need any collateral for the loans. They do not have credit checks as a process and this makes these loans real fast.

Sometimes quick cash is required for unexpected emergencies. Instant payday loans help in such tricky situations. They will let you have cash for the moment without the usual hassles of a regular loan product. The product has become very popular as it is quick and does not have the usual credit checks. Instant approval and payment makes this a product which helps you in times of need.

Application Process and Repayment

You just need to fill up a form online. It takes 5 minutes of your time, and you can apply from your personal computer from home. Another advantage is that you can apply any time during the day. The websites work around the clock.

Once your application is submitted, the lender will quickly review the application. If the next working day is not a holiday you will get the answer within the first working hour. If your application is approved the amount of loan applied is directly transferred to your bank account.

On the repayment date, the loan amount plus the interest is deducted from your account. It is simple and you do not need to go to the lender. Just make sure your account has the required balance.

Requirements of an Instant payday loan

The necessary documents are very basic. The process is simple too. You just need to provide:

  • Proof of age – Age requirement is 18 years or more.
  • Proof of identity – Your office identity card will do in this case.
  • Income and Employment proof – A simple email from your employer will do in this case. Instant payday loans does not require a certified bank statement like other loans. If the website requires a bank statement then a simple statement downloaded from your online banking account will do.
  • An active checking account – You need to provide an active checking account, for loan disbursal and repayment. All your transactions are done through this account. It is easy hassle free and fast.

In difficult situations when you require a relatively small amount of money instant payday loans can help you. They can pull you out of a sticky situation, and you should reciprocate by paying back on time. This will help your credit scores and you will be able to get loans easily in the future.

Changing face of the Banknote

Paper money commonly known as bank notes has undergone a lot of change over the years. The earliest use of paper as a means of exchange can be traced back to China in 7th Century. Only a thousand years later the practice came to Europe, starting with England.

The forbearer to the actual currency notes was the note given by goldsmiths in exchange for gold deposited with them. The note had the depositors name and a promise to pay the said amount was mentioned. The Bank of England followed and issued notes in return for deposits. This is how the journey of the modern currency note started. Later a special kind of paper was used to print the notes when it became the regular money.

Banknotes

Banknotes

The bank issued the note and the head cashier used to sign it. The practice was stopped with the fully printed note. Now the words” I promise to pay the bearer on demand the sum of…” were followed by a printed signature of the chief cashier. In 1833 the notes were made legal tender for all sums above £5.

Pound 5 note Polymer

The new Polymer Note

Several changes have been made over the following centuries. The latest change is moving from paper to polymer. A thorough research was done regarding the introduction of the plastic bank notes. The decision came to introduce polymer notes in £5 and £10 denominations. The £5 note will feature Sir Winston Churchill and the £10 note Jane Austin. The research showed that polymer notes would be more secured and durable than paper. Also it could have extra features making it difficult to counterfeit.

The world will follow soon. The days of the paper notes are numbered……..

How Banks are ruining the Economy

The Bankers form an association and then experiment with economy. Selling mortgage which is not recoverable and giving loans to corporate has led to the economy suffering. The myth of “big do not fall” has been pushed aside. Rather the saying “The bigger you are the harder you fall” holds true for the banking fraternity.

Banking

Major banks are getting bail outs, but why? Do millions have to suffer because of a few elites? The times are really dangerous.A few private players are running the economy. If you cast aside the legality factor major banks are doing everything the crime syndicates used to do. Favoritism, nepotism and general carelessness about welfare is driving the economy to nuts.

These big corporations have even taken over the welfare system largely. Major Insurance companies are being controlled by these big daddies of finance.

So what is the way out? As a citizen and a former banker I can give a few suggestions.

  • Levy Financial Transaction Tax – It will discourage the banks to lend heavy.
  • Put a Cap on Compensation packages – The salary package Cap should stay for longer duration.
  • Do not let them grow big – It was the big banks which faltered. So put a limit on the total assets and break down the bigger banks into smaller institution. This will help to keep control and also will increase the number of jobs.

Credit Unions

Banks are not the only source of financial support available to us, but they don’t like you to know that. There are other ways to manage your money, savings and loans. I’m not recommending shonky loan brokers like Wonka – there is a reason social groups and now the government want to shut them down. But, consider options like credit unions – credit unions are not widely used in England, however in countries such as Australia they are well-known and offer a great alternative to banking for most people.

australian credit unions are well used

Most modern day credit unions come out of a community organisation, such as a church or trade union, where members would by a share for a small amount which would allow them to use the union services. These days the requirements to belong to the particular group no longer exist, any one is able to join and access a range of services similar to a bank, and the credit union is subject to the same strict financial controls. But, the real benefit of a credit union is that as they run as a non-profit organisation they can often offer better terms that the high street bank. Most will offer personal loans and mortgages, so they are definitely worth considering. Read this article for more information.

Not a bank to be seen?

where do we go when the banks are closed

I read this article with a sense of irony a few weeks ago, Business Secretary Vince Cable urging banks to keep branches open in the high streets. The reason I say irony is this comes from the same government that committed to selling off Royal Mail, and allowing hundreds of local post offices to be shut, post offices that gave local communities much-needed access to services such as banking. I have read that the government has suggested that if banks were to continue retreating from the High Street, Royal Mail would be forced to re-open some offices – there’s the irony!

I can see neither the banks nor the government coming out of this well. The government has just shown that their policies are flawed – pensioners, parents with small children, and the ill are amongst the many who need access to local banking services, often not being able to travel or use online services, and should have a right to this. Saying it is the banks responsibility just does not cut it, the government has withdrawn any other means to access state benefits and pensions than through a bank account, it is the governments responsibility that those most in need are able to access their money.

On the other hand, it also shows that despite their continual claim to the contrary, banks are still putting the making of profits as their number one goal. Customers that rely on local services are often those with the least value in the eyes of the bank, and it is easy for managers to argue the need to meet their shareholder obligations and drive their business forward. But, they are still a service industry that relies on customer goodwill, remove the basics of banking, ie. providing a service to all your customers comes at a price. It’s easy for the average person to believe that these moves have no effect on them, when they can continue to access on-line services and travel to a branch, but what will happen when that situation arises where you are desperate to actually sit face-to-face with a real banker and discuss the biggest decisions you might need to make. You’ll soon see wish that there was still some consideration for real customer needs then.