Frequently Asked Questions

What happens if I change my mind after taking out a cash advance?

A CFSA member’s company abides by a set of Best Practices that enable you to rescind the transaction at no cost before the end of the following business day by returning the full amount of the advance to the provider.

How often do most people use this service?

Since a cash advance is a short-term solution to an immediate need, it is not intended for repeated use in carrying an individual from payday to payday. When an immediate need arises, CFSA member companies are there to help. But a cash advance is not a long-term solution for ongoing budget management. Repeated or frequent use can create serious financial hardship. Should you need help with budgeting or debt management, call the National Foundation for Credit Counseling at 1-800-388-2227, NFCC is a national network dedicated to helping people learn how to budget better and use credit wisely. With one toll-free call you will be connected to the center nearest you.

Is my transaction confidential?

CFSA member companies respect their customers’ desire for privacy in managing their personal financial matters. The cash advance transaction is a confidential one.

How is the advance amount determined?

State law generally regulates the maximum advance amount available. Within the allowed range, you qualify for a particular advance amount based on your current income. Sometimes you may not be able to get as much as you’d like; but a cash advance should be part of a financial solution. You would not really be helped if you received more than you have the ability to repay.

How are fees established?

The fee is competitive and in compliance with applicable state or federal law. Click on the link to see the South Carolina fee schedule.

Is my credit rating checked before I receive an advance?

No, your cash advance provider does not obtain a complete credit report. Unlike many other financial institutions, CFSA member companies do not require that you have a good credit rating, or for that matter, any credit history at all. Many CFSA companies do, however, subscribe to a risk assessment service that indicates if you are current in payments to other similar businesses. It may also indicate if you have cash advances outstanding with other companies that subscribe to the same service.

Getting a cash advance is such a simple and easy process, why is there so much information in the Customer Agreement?

The Agreement you read and sign prior to receiving a cash advance is a contract that complies with all applicable state or federal disclosure requirements. It fully outlines the terms of the cash advance transaction including the cost of the service fee both as a dollar amount and as an annual percentage rate (APR). Although a cash advance is a short-term financial solution and is not intended as a long-term source of credit, CFSA member companies provide you with the APR as a full disclosure so you have all the information necessary to make an informed financial decision.

Can I renew, or roll over, my advance by just paying the fee again on my due date?

Some state laws allow rollovers, while most do not. Even in states that permit rollovers, CFSA member companies limit rollovers to four or the state limit, whichever is less.

What happens if I don’t have the funds necessary to repay the advance on my due date?

CFSA member companies are committed to collecting past due accounts in a professional, fair and lawful manner. If your check is deposited and it is returned by your bank due to insufficient funds, you may be charged a returned check charge if permitted by applicable law. (You should be aware that most financial institutions will also charge an NSF fee for a returned check and in some circumstances might revoke your checking account privileges.) You will be responsible for payment in full of your account, including the returned check charge. CFSA member companies will contact you to collect the amount due. If necessary and appropriate, the company may turn your account over to a collection agency.

If my account becomes past due, will I face criminal prosecution?

No. In accordance with CFSA’s Best Practices, member companies may not pursue criminal actions against a customer as a result of the customer’s check being returned unpaid. If it becomes necessary and is appropriate, however, companies may seek civil remedies to collect past due accounts.

What can I do if I’m ever dissatisfied with the service received from a cash advance company?

If that company is a CFSA member, they will have the CFSA logo sticker in their window. If you have a complaint that cannot be resolved by the company, you should contact CFSA at 888.572.9329 or by e-mailing cfsa@multistate.com. If you feel there has been a violation of the Best Practices, you may file a written complaint. That information is available on CFSA's web site by clicking here: CFSA Best Practices.