Cash Advance Fees/APR
Cash advance fees derive from a customerвЂ™s payday and are usually primarily utilized as a short-term financing solution or advance loan. Payday advances are not advised for longer duration payday loans. Payday advances charge a fee that is one-time the advance rather than interest. This charge is 15% for the face worth of the post dated check written to your wage advance business and held through to the customerвЂ™s next payday. As an example, if an individual borrows a $100, they might compose a check for $117.65 dated for his or her next payday. The $17.65 is 15% for the $117.65 and represents the charge charged by the wage advance business.