Everyone needs a little security from time to time, something, let us say, under their hat for a rainy day. With the economy being how it is however and the price of everything from gas to clothing going up, it is hard to save. The question then is, is there an alternative plan? The answer is yes and it is called an online payday loan online.

Whether it is for an emergency or because the old car finally died, a payday loan online can be your ace in the hole during hard times.

Payday loans are easy to obtain and because of the way that they are set up, are easy to pay back. The way the basic payday loan works is that the borrower fills out an application for a certain amount of cash, the limits are usually in the neighborhood of $100-$500. Once approved the borrower would write a post dated check to the lender. For instance if you borrow $100, you would write the payday loan store a check for $100 plus fees that would be cashed or put through the banking system on your next payday, hence the name payday loan. It does not matter if you have bad credit. You are providing the lender with a post dated check so your credit is not an issue. These loans began about the mid 1990s and have blossomed into a thriving industry. Now however you can follow this process over the internet. The process is still the same however you would use an e-check, a check process through your bank or you would have to have direct deposit instigated with your bank and you would sign a wavier allowing the lender to take the money back out of the account on your next payday.

Getting payday loan online is much the same as getting one in person with out having to stand in line at the lending store. You apply online which means that you would search for an online payday loan site, click on the application and fill it on your computer over the internet. Direct deposit is what makes online cash payday loans possible. Direct deposit is when your employer deposits your paychecks directly into your bank account.

It is easy to obtain a payday loan online and the service is for everyone who has a savings or checking account. The best way to research these services is to look for those who are registered with a Better Business Bureau.