Urgent loans: how to get cash on the day?
If a sudden need arises which leads us to request urgent loans on the same day, the chances of maintaining very short deadlines by contacting banks or financial institutions are very few. You have some more chances if you turn to private individuals, even using bills of exchange as a form of guarantee, allowing the completion of the loan at the same time.
Precisely in order to favor a reduction in delivery times, some services are born which “say” to guarantee the response on the outcome in 5 or maximum 15 minutes, but often these systems are limited to some countries. We therefore see the various possible alternatives.
When is it possible to have a day-to-day answer in the bank?
One of the simplest solutions to the urgent need for money is represented by the opening of credit with collateral securities. In this case the approval times may include a few days of waiting, but if you have good relations with the manager you can try to get approval and formalization on the same day. This solution is feasible especially if you have savings on your part that you don’t want or can’t touch.
Loan between private parties
If you need to have immediate money with small or medium funding, you can also try to get the loan with private bills. The sums not too high are conditioned by the withdrawal limits that many banks impose on certain thresholds less than a reservation made previously.
If you do not trust individuals (especially in the case of outsiders albeit referenced) then you need to protect yourself in advance and refer to the portals that deal with private online loans. These include, for example, Smartika, Prestiamoci, Soisy and the world-famous Blender site.
Let us now see three other possible alternatives that can make it possible to make up for the restrictions on access to urgent loans on the same day.
The bank credit allows to make ‘upstream’ the urgent needs of money. It does not matter that you do not feel the need to use bank overdraft, the interest rate will be paid only on the sums actually used. Until the balance remains at least zero, no interest rate is applied, but only the contractual fees (some banks may foresee the possibility of not applying part of the commissions).
Attention: the credit request requires an approval time. This can go from a few days to a few weeks. It is clear that in order to have the money immediately when the need for liquidity arises, you must have made the request well in advance, as a form of caution.
Normally, in order to proceed with the credit request, the banks impose some mandatory requirements, including the salary credit. An exception can be represented by OneCash’s Easy Discovery which allows a customer pre-assessment. In this case it is possible to proceed with the request also through an app for a maximum of 6000 USD overdraft (OneCash official website at 11/10/2017).
Suitable for low or medium sums (the cards generally have a ceiling of up to approximately 5,000 USD), revolving cards can represent a reserve of money to draw on in case of need. The problem, however, lies not only in the conditions of interest rates (which when we are desperate are put to the bottom of our own considerations), but on the limits of withdrawal. If you need money to spend and spending can be done with a credit card, there are no major obstacles. If, on the other hand, you have to use the cash advance option then you need to be very careful in checking the maximum amounts that can be withdrawn daily and monthly.
We must also pay attention to the annual management costs: It is clear that a revolving card is not issued together with the request, and for this reason it is a tool to be kept aside in order to be able to use it in case of need.
It represents an intermediate solution compared to those already mentioned. With the pre-assessment, if approved, there is a sort of voucher for a minimum and maximum amount to be repaid within a given ‘range’ of installments. The interest rate that will be applied, only on the sums actually used, will instead be fixed. The advantage of a pre-agreed liquidity lies precisely in the immediacy. To get the desired amount, all you need to do is follow the simple procedure required.
Among the types that allow you to use this type of mode is the Credit Hore Easy which allows you to use the predetermined amounts using the app. The OneCash loan has a fixed rate of 6.90% and allows a request to be made between 1000 and 5000 USD to be repaid between 1 and 3 years. (OneCash official website at 11/10/2017).
The myth of Woonga
On the web we have been talking about this system for some time now, which allows us to choose between three types of financing, always characterized by small sums. The approval times are very limited:
The system works by assigning the rating in relation to the feedback obtained as you participate in this system, but as you can see the sums obtainable are very small. Added to this is another problem that goes beyond the amounts that can be requested. Among the requirements necessary to be able to apply for the amount you need you must be of age and, above all, reside in:
- South Africa;
The system is therefore currently not yet available for Italy.
This limit cannot be overcome as you need to register on the site in order to access the system. Getting help from someone we know in one of the accepted countries does not solve the problem even for the impossibility of obtaining the sum you need immediately. For quick transfers, if you opt for this system, you could use Sofort or some money transfers spread all over the world like Western Union which also provides the possibility of sending online without creating problems for those who have to send.