15 Minute Payday Loans

This posting will briefly cover the premise of 15 minute payday loans. There are various lenders that headline 15 minute loans, but the funds of course wouldn’t be transferred within such a short period of time. The lenders are saying here that this is the time that the funds will be sent to your bank after the application has been made. TxtLoan is one such lender that headlines 15 minute loans, QuickQuid headlines 10 minute loans and Wonga states that they will send the cash within 5 minutes. The noted lenders may simply be updating their systems on a consistent basis, but they will all be using the Faster Payments Service (FPS). FPS transfers will arrive on the same day, typically taking a few hours to clear.

CHAPS payments are expensive and speedy, but these will have a cut off point on a working day in place to guarantee a same day transfer that once made will clear almost instantly. The quick speed of the FPS will depend on the particular lender used. What you need to be looking at is whether they need to underwrite the loan and are they open 7 days. Loans are of course always faster for existing customers with select lenders. With TxtLoan for example you’ll be automatically approved once a loan has been repaid and just need to make a new request that will arrive in a few hours. You won’t receive 15 minute payday loans online, but transfers within just a few hours time are always likely.