FAQs
You may have a few questions about who uses our service and how it works. Below, you will find the most frequently asked questions about payday advances. If you have additional questions or would like more information, please call 1-877-4NCA-CASH to be connected to the nearest location.
Q: Do most people use a payday advance service for the same reason I do?
Q: How often do most people use this service?
Q: How does National Cash Advance® determine the amount of money to advance me?
Q: How are the fee amounts established, and can National Cash Advance® charge me as much as they want?
Q: Does National Cash Advance® check my credit rating before advancing me money?
Q: Getting a payday advance is such a simple process; why is there so much information in the Customer Agreement?
Q: What happens if I don't have the funds necessary to repay National Cash Advance® on my due date?
Q: If my account becomes past due, will I face criminal prosecution?
Q: What can I do if I'm ever dissatisfied with the service received from National Cash Advance®?
Q: Do most people use a payday advance service for the same reason I do?
A: Probably so. Surveys show that while Americans do a pretty good job of managing household budgets, most of us need occasional help. An increasing number of consumers choose a payday advance to cover unexpected expenses, or to bridge a short-term cash crunch between paydays, without incurring revolving debt. A payday advance is a short term financial management tool that provides a sensible alternative to costly bounced checks, late payment charges and tarnished credit ratings.
Q: How often do most people use this service?
A: Since a payday advance is a short-term solution to an immediate need, it is not intended for repeated use in carrying an individual from payday to payday. When an immediate need arises, we're here to help. But a payday advance is not a long-term solution for ongoing budget management.
Q: How does National Cash Advance® determine the amount of money to advance me?
A: State law generally regulates the maximum advance amount available to our customers. Within the allowed range, you qualify for a particular advance amount based on your current income. Sometimes we can't give you as much as you'd like, but National Cash Advance® wants to be a part of your financial solution. We wouldn't really be helping if we advanced more than you have the ability to repay.
Q: How are the fee amounts established, and can National Cash Advance® charge me as much as they want?
A: In the interest of consumer protection, National Cash Advance® only opens branch offices in states that license and regulate payday advance businesses. The fee we charge is never higher than the law allows. It is our goal to offer you the best service at the most competitive fee possible.
Q: Does National Cash Advance® check my credit rating before advancing me money?
A: No, we do not obtain a complete credit report. Unlike many other financial institutions, we do not require that you have good credit or, for that matter, any credit history at all. We do, however, subscribe to a risk assessment service. It tells us if customers are current in their payments to other businesses like ours and whether our customers have payday advances outstanding with other companies that subscribe to the same service.
Q: Getting a payday advance is such a simple process; why is there so much information in the Customer Agreement?
A: The one page Agreement (front and back) you read and sign prior to receiving a payday advance is a contract between you and National Cash Advance®. It outlines the terms of the payday advance transaction, including the cost expressed both as a dollar amount and as an annual percentage rate (APR). Although most customers consider the APR irrelevant to this transaction, we disclose it anyway. In the interest of full disclosure, National Cash Advance® wants you to have all the information you need to make an informed financial decision.
Q: What happens if I don't have the funds necessary to repay National Cash Advance® on my due date?
A: Just like you, we hope this doesn't happen. But if it does, National Cash Advance® is committed to collecting past due accounts in a professional, fair and lawful manner. If we deposit your check and it is returned by your local bank due to insufficient funds, you will be charged a return check charge if permitted by your state's law. You will be responsible for payment in full of your account, including the returned check charge. Our branch office will contact you to collect the amount due. If necessary and appropriate, your account may be turned over to a collection agency.
Q: If my account becomes past due, will I face criminal prosecution?
A: No. National Cash Advance® does not pursue criminal actions against our customers. If it becomes necessary, however, we will seek civil remedies to collect past due accounts.
Q: What can I do if I'm ever dissatisfied with the service received from National Cash Advance®?
A: Customers across the country compliment National Cash Advance® for providing the friendliest and most professional customer service. The management of National Cash Advance® welcomes the opportunity to address your concerns. In the unlikely event you have a dispute we can't work out together, our Agreement provides that you can take your issue to small claims court or request arbitration, where a neutral third party hears both sides of the issue and makes a binding decision.
