http://www.cashatonce.com/online-payday-advances.html Online payday advances pose an interesting question - where does all that money come from? How do online payday advances know so much with you giving them so little? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Here at Cash At Once we're always amazed with the speed of finance today. You have a financial emergency? No problem! You can just nip that little problem in the bud right now with online payday advances. They're fast, easy, and incredibly complex - and we realized we had no idea how your application results in these fast payday advances. From you, to the lender, to the bank, to you, to the lender, to the bank - the epic journey of online payday advances Rather than tagging a single online payday advance with a radioactive mark and follow it throughout the many channels of finance, we've been able to piece together the path your online payday advances take by history, facts, relationship analysis and sheer intuition. We've been dealing with payday cash advances and other Cash At Once solution for years and we think we've finally gotten the online advance industry pegged: It begins with a request from you - the cash needy individual at the computer You apply, and your application is sent directly to a national database of payday advance information. If you have any outstanding payday advance debts, your application will be immediately denied. If you're clean of such obligations the next step is lender approval - they give a quick call to your place of employment to verify your information, check your income, and they're done. Your lender relays the application for online payday advances on to their associate bank - and here is where things get tricky. These banks do not want to be directly associated with payday advances in particular, but payday loans are extremely lucrative and the banks would be missing out on a major investment. So they set aside large, available sums for the lending fronts to access when you apply. Your lender pays the bank to access this ready cash - ad this fee makes up a large portion of your initial fee for the loan itself. The money is wired directly from the bank into your specified account. When you repay your online payday advances the loan amount goes back to the bank - and the lender takes the rest. Their profit is how much you pay in initial and late fees minus the charge they faced when freeing up your cash. Tricky, ain't it! Sat, 26 Jul 2008 15:00:00 EDT