mortagesandforeclosures

by Jeff T Engels

Payday advances are one of the new services being offered by financial services companies. These companies are able to lend you cash on a short term basis ahead of your next pay day. For many this is an ideal way to secure cash as and when needed and these are the reasons why the service is growing in popularity:

It is a quick way to secure money before pay day

Taking advantage of this kind of service means an employee no longer faces the embarrassment of having to ask their employer, friend or family member for an advance on forthcoming wages

The cost of taking out a payday advance with a high street finance company can be up to four times cheaper than an unauthorised overdraft with a bank

A payday advance can be used to take care of unforeseen expenses or bills without having to wait until the next pay check from an employer

Its is easier and a lot more convenient to arrange a payday advance than an overdraft with your bank

By taking out a payday advance you meet your financial obligations and maintain control over your financial affairs

These reasons demonstrate that it is the ease and convenience of the system which has made payday advance a big hit with the public. As soon as most people receive their pay check at the end of the week, they are desperately waiting for the next one. But receiving cash through a payday advance helps ease the financial pressure.

And arranging a payday advance is very easy. In the UK a customer must be over the age of 18 and must usually be working at least 16 hours per week. To obtain a payday advance, or account, the customer must obviously provide plenty of personal identification as well as their last bank statement and wage slip together with cheque book and cheque guarantee card. After filling in a brief form the customer will receive their cash.

It is the simplicity of this serve that is persuading the public to turn to the new money shops and financial companies on the high street rather than the banks. These new style of companies offer more than just a payday advance service. They also offer cheque cashing services, short term and unsecured loans as well as money transfers.

The speed at which people can receive their money from these new financial service providers and the fact their services are often cheaper than the banks should see their popularity continue grow.

About the Author:

Xtra Finance a Hull finance company offer a cheque cashing service at a low rate of only 3%. Xtra Finance also provide payday loans, unsecured loans and other financial services

Get all the information and photos:: http://mortgagewide.info/payday-advances/