Welcome to Fisher Business News! This article explores ACE Cash Express Installment Loan Requirements. It also discusses the entire ACE Cash Express business model. Read it through to get answers to the most popular questions about ACE Cash Express Loans. Let’s start!
ACE Cash Express Installment Loan Requirements
What is ACE Cash Express?
ACE Cash Express is a financial services provider that specializes in online direct lending whilst providing its consumer base with short-term credit solutions. Its loans range from payday loans, installment loans, title loans, and prepaid debit cards.
It also offers money transfers, check cashing, and bill pay services among other financial services. Founded in 1968 and based out of Irving, Texas, ACE Cash Express has since grown to become one of the largest providers of short-term financial services in the United States.
With over 1,500 locations across 38 states nationwide, ACE Cash Express provides convenient access to emergency cash for their customers.
How does an ACE Cash Express installment loan work?
ACE Cash Express provides online lending apps to help customers obtain installment loans with quick and easy approval. In order to qualify for an installment loan, customers must meet certain requirements set by ACE Cash Express.
These requirements include being at least 18 years of age, having a valid checking account, and providing proof of income or employment. Additionally, applicants must have a Social Security number and valid government issued photo ID.
Using their website or mobile app you can apply for a loan online or by visiting one of their physical locations. The application process is simple and straightforward; applicants can complete the form online in minutes from any device with an internet connection. Once approved for the installment loan, customers will receive funds into their bank accounts within one business day.
All payments are due on the agreed upon date; late payments may result in additional fees or penalties as outlined in the loan agreement terms.
How much does ACE Cash Express loan?
ACE provides small personal loans between $ 100 and $, 2000. The loans are categorized into Payday loans, Instalment loans, tittle loans, and cash advance. The amount available for loan varies depending on factors such as credit score, type of loan, length of loan term and other requirements set by the lender.
The maximum amount that can be taken out in a loan from ACE Cash Express is $ 2,000. The repayment terms may vary from state to state but typically range from 8-35 days for payday loans and up to 180 days for installment loans; with interest rates varying between 5%-30%.
The exact details regarding rates and terms will depend on factors like loan type, duration, as well as individual qualifications such as income level and credit score, among other factors.
ACE Cash Express also offers a variety of other financial solutions such as money orders and bill pay services as well as prepaid debit cards with no overdraft fees or minimum balance requirements.
Does ACE Cash Express do credit checks?
Yes, but soft pull. ACE Cash Express considers many factors when making the decision on whether or not to lend money to a customer whilst it uses the customer’s credit score to make the decision on the loan application.ACE Cash Express mostly does a soft pull on its customers’ credit reports.
For instance, receiving an unsecured loan from ACE Cash Express may not require a credit check. Instead, their approval process focuses on whether or not the customer has the necessary income and resources to pay back the loan or other service requested.
They may look at things like employment information, bank statements and other documents that demonstrate financial stability and ability to repay. By avoiding credit checks, ACE Cash Express makes it easier for those with poor credit ratings to get access to the funds they need quickly without risking further damage to their rating.
However, if you apply for an extended payment plan or another type of loan with them, they may require a full review of your finances which includes pulling a copy of your credit report.
Generally speaking, this will be done as a “soft pull” so it won’t negatively affect your overall credit score.
ACE Cash Express check cashing fees
ACE Cash Express fees vary depending on the type of check you are depositing and the amount being cashed.
Generally, ACE Cash Express charges between 2% 10 10% of the total check amount, depending on the check type. For instance, payroll checks attract a 2.2% fee (of the checks face amount).
The amount you can cash also varies; most customers can cash up to $1000 without incurring any additional charges from ACE Cash Express, although larger amounts may be subject to extra fees. The following are check cashing estimates for different types of checks.
- Government checks:2% to 4%,
- Money orders:10%,
- Payroll checks:2% to 6%
- Personal checks:10%
ACE Cash Express installment loan requirements
To qualify for an installment loan from ACE Cash Express, applicants must meet certain criteria.
- The first requirement is that applicants must be at least 18 years of age and a U.S citizen or permanent resident.
- The applicant will also need a valid government-issued ID or driver’s license
- In some cases, borrowers must have a valid checking account in their name and provide proof of regular income source such as pay stubs within the last 30 days or bank statements from the past 90 days.
- Applicant must reside in the state he/she choose for the loan application.
- Valid and active email address, and be reachable via phone if need be.
- It’s also important for applicants to provide their Social Security Number so ACE Cash Express can perform a credit check and verify identity information.
Approval times vary depending on eligibility, but most applications are approved within minutes after submission.
How does ACE Cash Express verify personal checks?
In order to ensure customer safety, ACE Cash Express has implemented a rigorous verification process for any personal check deposits.
The first step of the verification process is verifying a customer’s identity which begins with the customer providing identification such as a driver’s license or other government-issued ID. This allows ACE Cash Express to ensure that the individual depositing the check is actually associated with it.
Next, ACE Cash Express will verify that all information written on the check matches up with what is provided by the customer regarding their name, address, and bank account number.
This information is then verified both electronically and through manual processes, including background checks and credit checks.
Additionally, ACE Cash Express may request additional documents from the customer such as bank statements to establish financial stability before they are able to proceed with cashing the check.
To ensure accuracy throughout the verification process, ACE Cash Express utilizes various technologies including facial recognition software and biometrics databases that store personal characteristics associated with each individual customer.
How much does ACE Cash Express pay?
The amount of pay received by an employee at Ace Cash Express can depend on their position, experience level, and location.
According to Glassdoor reviews, most entry-level positions such as customer service representatives have an average hourly rate of $10 per hour while more experienced positions such as store managers may receive up to $17 per hour. Sales Associates earn about $ 15 per hour, district managers earn around $ 27 per hour, customer service personnel earn around $ 15 while a customer service manager earn around $ 18.
These wages vary upwards or downwards depending on numerous factors. In addition to salaries, some employees may be eligible for additional benefits such as 401(k) plans or health insurance coverage depending on their position.
Overall, ACE Cash Express appears to offer competitive wages based on industry standards and the size of the organization.
How long does ACE Cash Express take to verify?
The company’s verification process is automated and swift, most employee are verified within 24 hours. Once a customer is verified/approved, funds are deposited into his or her account on the next business day (in most cases).
ACE Cash Express competitors
LendUp has been a leading online direct lender, offering innovative solutions designed to give customers an alternative to traditional banking institutions. Since its founding in 2012, LendUp revolutionized the way people obtained loans by providing an easy-to-use web and mobile platform that gives access to fair, transparent and responsible credit products.
LendUp offered a wide range of products including payday loans, installment loans and lines of credit that are tailored specifically for each customer’s needs.
Through the use of innovative technology and data science, LendUp provides customers with real time insights into their credit score, as well as personalized recommendations for improving their financial health over time. The company, however, ceased its loan operations in January 2022.
ii) Cash America
Cash America is a financial service provider that has been in business since early 1970s. For more than 50 years, they have been providing customers with financial assistance and loans to help them meet their individual needs.
From personal loans to car equity title loans, Cash America provides a range of services designed to fit the specific circumstances of each customer.
At Cash America, customers can take advantage of multiple loan types including installment loans, title secured loans and pawn loans.
They also offer online services such as account management and payment processing for added convenience. With convenient locations all over the country, Cash America makes it easy for customers to find the right solution for their particular situation quickly and easily.
iii) Advance America
Advance America is a financial service provider that has been providing customers with easy access to cash for over 20 years. With more than 2,500 locations nationwide, Advance America is one of the largest providers of short-term credit solutions in the United States.
From payday loans and title loans to money transfers and bill pay services, Advance America provides customers with a variety of convenient options when it comes to accessing their finances.
The company prides itself on its commitment to responsible lending practices, offering customers competitive rates and flexible repayment plans tailored to each individual’s needs.
Additionally, Advance America’s knowledgeable staff are available for assistance in finding the best solution for any financial situation. Whether you need help with an unexpected expense or need to consolidate debt, Advance America can provide you with a variety of options that can fit your budget.