How can a cash loan be explained? To put it bluntly, a cash loan means nothing other than that the customer immediately holds the money in his hands after a loan approval. Online banks even promise courier delivery for particularly urgent customers. How realistic is a cash loan in our time in which a lot of things are done without cash and is it still possible to pay out a cash loan today?
Everything you need to know about a cash loan
If you want to have a cash loan paid out today, you have bad cards when applying for the loan online. The Internet makes an immediate commitment, but the loan amount is usually not available on the same day. This is simply because all the necessary documents have to be submitted to the bank first. Even if the proof of professional activity is scanned and sent by email, payment on the same day may not be possible. To assume that would be unrealistic.
But there are other ways to get a cash advance today. However, this only works if there is a overdraft facility in the checking account. In such cases, the money is immediately available because it can be withdrawn quickly at the ATM or at the bank counter. That is the real cash credit today.
Cash credit from abroad
There are no other forms of a cash loan, despite advertising to the contrary. The so typical advertised loans without Credit Bureau are never in the account on the same day. On the contrary, it can take up to seven days before the loan amount is paid out. The problem with Credit Bureau-free loans is that they originally come from abroad. Although there is no credit check, the fixed income serves as security. The bank will first check this against the submitted documents.
A cash payment is possible. In this case, the postman delivers the loan amount as a so-called postal order, which is no longer available in Germany, but can still be ordered by foreign banks. This is often done when the borrower does not want the bank or life partner to learn about this loan.
If the advisor to the house bank has time
If you are looking for an installment loan from your house bank, you may be lucky and can speak directly to the bank advisor without an appointment. This is rare, but it is not unlikely. If the creditworthiness is sufficient for a loan, the credit contract is drawn up immediately and after signature, the money is made available in the account. The customer can then dispose of it immediately.