Taking out a payday loan often requires you to have a debit card, hence the term debit card loans. It can be unfortunate if you do urgently need a loan but are refused just because you do not have a card to secure your cash. So can you still get a loan even without a debit card? The answer is yes, you can still obtain a loan and instead use an alternative form of repayment.
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The reason most people turn to debit card loans is due to the fact that if you have a low credit score it stops you from getting finance. In the UK most organisations that provide credit and finance make their lending decisions based on the information provided to them from the credit rating companies. If your credit rating score happens to be below a certain figure then you will find it very difficult to get any sort of credit or finance whether it be a small loan, higher purchase or even a credit card.
So if you find yourself in a payday loans no debit card kind of situation then you should know that you can still obtain that payday loan even though you do not have a debit card. Instead of giving your credit card details, as part of the application process you can set up a direct debit as the method used to repay the money that you have borrowed.
A direct debit is simply an instruction from you to the bank to make a payment from your account at a specified date for a specified amount. What happens is that the payday lender will be paid back their loan money via a direct debit payment on he agreed date. This is usually the date on which your wages are paid into your account. No further money will be taken from your account as the debit instruction is only for one payment on a specific date.
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