Self-Presentation of Mypaydayloan.com
Mypaydayloan.com is lending institution providing customers with payday loans for a short period of time. This organization itself strives to offer clients outstanding service directed to solve clients’ financial problems as fast as possible. My Payday Loan poses itself as the most reliable and safe online speedy loan institution. Mypaydayloan is a proud member of Online Lenders Alliance (OLA) what proves, on one hand, the security and reliability of this online payday loan institution but we are going to examine whether mypaydayloan.com is legit and safe.
|Types of Loan
|Min Loan Amount
|Max Loan Amount
|Documents and Information
|Bad Credit History
|$ 30 if taken $ 100
|personal information (SSN#, Driver license number, Driver license issued);
contact information (phone number, e-mail, address);
bank account information (ABA or Bank Routing #, Checking account #, Checking account # for verification, Bank name, Check #);
emplyement information (working department, amount of salary).
Types of Loans
MyPaydayloan.com offers clients a possibility to take short-term payday loans without any difficulties. This organization points out that you may get a loan fast because you do not need to wait for approval for long and are not required to collect any paper at all. There are several reasons why it is preferable to get use of MyPaydayloan.com exactly:
These reasons may attract many customers because it is rather difficult to find a convenient in all aspects online credit institution.
MyPaydayloan.com transfers money on the next business day if your application is approved by 3:00 p.m. EST. Not to create problems for yourself, try to provide My Payday Loan with correct bank routing number and checking account number. You may get money transferred only on your active checking account.
To obtain a payday loan on My Payday Loan online a client should meet the following requirements:
- you should have an open and active checking account, as this is where we will transfer your cash advance (we are not able to deposit funds into a savings account);
- you must be currently employed and have verifiable income;
- you must be a U.S. citizen and be at least 18 years of age.
Affordable loan amount on mypaydayloan.com is from $ 200 to $ 1000 but here we should mention that there is some kind of clarification. Applying for the first loan you may get only $ 200-$ 600 with $ 30 interest rate. Here is the table of how much rates you should pay when taking a loan:
After repaying the first speedy loan you are welcome to take the second loan with ammount higher for $100 with the same interest rate. Maximum loan amount on My Payday Loan is $ 1000.
Period for payday loan is, ordinary, 14 days but there are cases when you may get a loan for shorter depending on when your next pay day is. As it was mentioned above, if a client is able to confirm his paying capacity, it is not mandatory to have constant working place. But if your means of sustenance is only your salary, that you should provide your employeer information to prove this fact.
As it is there is no request to fax any kind of documents but you should provide the following information filled in application form:
- personal information (SSN#, Driver license number, Driver license issued);
- contact information (phone number, e-mail, address);
- bank account information (ABA or Bank Routing #, Checking account #, Checking account # for verification, Bank name, Check #);
- emplyement information (working department, amount of salary).
If you provide My Payday Loan online with all the information, there is no threat not to be approved. The majority of our clients (exactly 98%) get the approval several minutes after application form enrolment. Sometimes, there are cases when your application is processed from several minutes to several hours.
You do not need to provide any contact persons or guarantees. It is the greatest possibility for My Payday Loan clients to get rid of and cope with financial budens as fast as possible.
MyPaydayLoan.com accepts checking accounts only.
There are several methods of repayment of your speedy payday loan:
- to pay the total amount due (fees will be waived if you are a Free Loan customer);
- to pay the minimum amount and prolong the loan with a new contract;
- to pay more than the minimum amount and extend the loan with a new contract (payment will initially be applied to the fees and the remainder of the payment will be applied to the principal).
A new contract implies that you should enter a new loan period which makes you to pay the charge associated with new principal balance at the end of the next due day.
Clients of this online facility are able to change due date by the following means:
- over phone;
- by e-mail.
It implies that mypaydayloan.com gives clients an opportunity to obtain a delay in payment or to pay a loan off earlier your due date. Clients are allowed to prolong your speedy payday loan as many times as necessary; but, remember that such kind of a loan is a short-term one that’s why you should pay it off as quickly as possible.
If a client fails to pay a loan back in a due day, this online facility may debit only the minimum due. According to Check Advance Agreement, clients are required to pay a loan off prior to each due day to be sure that payoff reaches mypaydayloan.com.
Clients are welcome to extend a speedy loan as many times as they need but there are additional fees which you should pay back for the first time. My Payday Loan online doesn’t present the exact number of times when you are able to extend the loan but they stress out that clients should pay a loan back as fast as possible because this type of loan is a short-term one which implies fast loan repayment. As fast you will do it, the less interest rate you will pay. Clients has the right to get the second loan after 5-6 business days after having paid the first loan.
If we speak about the fact whether clients are able to issue a new loan in case when the first is not paid off the answer is negative. You cannot get a new loan in this case. You may extend your due date but not to arrange a new amount of cash.
MyPaydayLoan.com Bad Credit History
For MyPaydayLoan.com bad credit history plays no role. Clients with bad credit history or with absence of it are able to issue a microloan. This online credit facility points out only that if a client has filed for bankruptcy within the past year or if a client has filed multiple times, My Payday Loan administration points that they will not be able to extend a loan to you.
Mypaydayloan.com is safe and all the transaction are protected by 128-bit encryption verified by COMODO CA Limited.
Clients may be, on one hand, be sure their personal data is protected but really speaking, there are more effective means of customer personal data protection. After visiting the page “Apply”, we observe the following fact: Mypaydayloan.com uses 256-bit encryption which is considered more effective in data protection. This page is reasonably protected because here clients enter their personal information including bank information that’s why Mypaydayloan.com tries to do its best to provide the most effective security for clients’ comfort.
This 256-bit encryption certificate is also verified by COMODO LA, Limited but company, also as in the first case, is hidden.
So that, we may come to a conclusion that this speedy loan lender knows exactly what kind of information should be protected more carefully. But it is preferable to inform clients about company protected their personal data.
Mobile Version of MyPaydayLoan.com
There is a mobile version of MyPaydayLoan.com and it is user-friendly. Mobile version is elaborated and everything is arranged in order to give clients an opportunity to fill in an application form by means of different mobile devices. Mobile version is adapted and adjusted to each type of devices. There is no scrolling which addes points to My Payday Loan online. The front-page presents reduced form of desktop version that’s why you won’t need to surf irrelevant content given on the desktop version.
Clients are welcome to find a mobile version because it may save your time while filling in application form in public transport or even in cafe.
Unfortunately, there is no sing of antivirus on mypaydayloan.com. From this point of, mypaydayloan.com becomes unsafe for clients because there is the greatest chance to “catch” the viruses and other online threats and it doesn’t means from by means of what device you command its service. From our point of view, this online facility should take more efforts to protect clients from all the threats.
Convenience of Application
Convenience of application depends on many factors, exactly:
- how much information a client should present;
- how convenient application form is;
- whether a client is required to undergo registration (to get mypaydayloan.com login and password).
But really speaing, mypaydayloan.com doesn’t require to register login and password that’s why you are able to arrange a request in free way. You have to fill in a lot of personal information including banking and employment facts.
The first step of you application includes your personal information:
As you can see you should fill in such data as:
- e-mail address;
- first name;
- last name;
- social security number;
- data of birth;
- driver license;
- driver license issued.
The second step includes enrollement of contact information:
Contact information is comprised of regular information about your living residence and phone numbers are also important for MyPaydayLoan.
The third step includes in itself information relating to your bank account:
If you provide all the necessary bank information you will be approved a loan as fast as possible.
The forth step is devoted to employment information where you have to fill in everything your working place and your salary.
After completion of all this information, your application will be processed. As you can see there are a lot of information which you should present to My Payday Loan but we remember that they do their best to protect clients’ personal data as carefully as possible.
Is Mypaydayloan.com Legit and Safe?
According to ScamAdviser.com, Mypaydayloan.com is safe and legit for 86%. This indicator is higher than average but we are going to analyze why this online service has no 100 % – guarantee.
Scamadviser.com considers My Payday Loan is high trust but contradict itself because in the bottom of explanation there is a note that this online service may be related to high risk. How clients should understand this mass? Mypaydayloan.com is located in the USA but there is a suspicion that company owner is Panama based but website origin is the United States of America. The website itself doesn’t provide any contact information for clients. We have in mind that it is played an important role in leveling down the rating.
Domain age is almost 18 years but in general it is rarely visited, it means that this online pharmacy has no such a great popularity is it written on mypaydayloan.com.
This website, from the point of view of this security service, is constantly updated but there are some problem with page speed loading. We believe that this online service has no 100% safety because so many foreign websites are involved in the activity. There are so many websited registered on one server. But ordinary users cannot check this information and cannot now it when visiting this speedy loan online service.
Reviews about Mypaydayloan.com
Reviews on Mypaydayloan.com
There is a separate page with reviews on mypaydayloan.com but we cannot trust in their 100-% reliability. It seems that reviews on mypaydayloan.com appears with the wave of a magic wand. There is review form where clients are able to leave a comment about this organization performance. All the reviews are left undated and there is a problem with understanding when there were such a number of satisfied customers. Faily estimation is not possible to be stated. We also hestitate in its originality because reviews are organized in such a way that it gives no characterization of clients commanding this online service. We also should point out that all the reviews on mypaydayloan.com are positive that’s why they seem so unreal written by site administration it self. Moreover they are not enormous.
Reviews about Mypaydayloan.com on Foreign Recourses
We find surfing the Internet different recourses where people are able to leave only negative reviews about mypaydayloan.com. It means that there is only possibility leave a comment which will prove insecurity and inreliability of this online service. It is reasonable that rating on consumeraffairs.com is 1 out of 5. You are welcome to read them all because you may find something useful.
People leave comments having different experience using mypaydayloan.com. Some of them believes that this service is fake, the other – they have the worst service ever. Really speaking, we do not find any evedince of satisfied customers leaving reviews about mypaydayloan.com on foreign recourse. We cannot judge and give the overall perception of My Payday Loans performance bacause there are no positive reviews at all. All the mypaydayloan.com compaints are dtated 2016 and they confirm the fact that this online organization has some problems with customer service.
“Contact Us” Section
Mypaydayloan.com provides no contact information for clients. They do not have My Payday Loan address and phone number detected. You have the only opportunity to come in contact with them by means of contact form. We also cannot get access to information in what states they are working and where they have in-store service.
Customer Support Service
Customer support service is an attractive possibility for customers to cope with bothering them questions. Everything they need is to fill in contact form and ask the question. We was interested in fact what types of loans they offer its customers because this information was not clearly defined on mypaydayloan.com. We get the answer in 6 hours. They have no live chat but contact form is working on the level. Our aim was to examine whether this contact form operates and clients may get the answer because there is no opportunity to contact them because phone number is absent on mypaydayloan.com.
Conclusion: MyPaydayLoan.com – Not Recommended Speedy Loans Online Service
After examining all the points mentioned above we may not recommend you Mypaydayloan.com and this conclusion will show you why we think so. At first sight, everything seems so well, you may take a loan with amount from $ 100 to $ 1000. Everyhting you need is to fill in an application form and wait for the answer. The approval will be given to you in several minutes. You may take a loan with bad credit history on Mypaydayloan.com.
Clients have an opportunity to extend the loan due date as much times as necessary but if you file for bankruptcy during the latest year, you cannot have an opportunity to take us of extension option. According to Scamadviser.com, 86 % of security is an indicator higher than average but there is some confusion with it because this security service considers Mypaydayloan a high trust rating but gives at the same time note that this website may be related as high risk.
The second and valid argument is reviews about mypaydayloan.com on site itself and foreign recourses. Reviews on mypaydayloan.com itself are absolutely positive, but foreign recourses help us to see the real picture about company performance. Everything looks confused again and we do not know exactly in what we should believe. Reviews on mypaydayloan.com are appeared on site in unknown way because there is no contact form.
Moreover, mypaydayloan.com provides no contact information, there is no understanding from where they perform its duties and in what states they are working. So that, if such these arguments are not valid for you, you may command the service of mypaydayloan.com but if you agree – try to protect yourself from this online service.