Some people get frustrated that some Web sides say the have to have a
checking account. This is actually not even true and no checking account
is really needed with any legitimate payday loan company. They will ask
you and tell you that you have to have a checking account, definitely.
The reason that they say you have to have a checking account is because
if your payment bounces they are more likely to get their money, however
you will get an insufficient fund charge from your bank if you don't
have the money in your account for your payment. If you use a checking
account, then there is no type of overdraft protection and the payday
loan company is less likely to get their money for the payment if you
don't have it in your account.
There is in fact no way for a payday loan company, insurance company or
anybody else for that matter, to be able to distinguish between a
checking account number and a savings account number.
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scooltim
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shanepeterson