North Cash Review

North Cash ReviewNorth Cash claims he can get up to $500 and that the entire transaction is kept safe and secure. This is a smaller amount than many online lenders will be willing to give you, but can come in handy if all you need is $500 or less.

What is interesting is they say that they have fast deposits, but they can’t make any claims about how quickly the money will go into your bank account because only your bank is responsible for how fast the funds are made available. They may be able to say that their application and approval process is fast, but they specifically say that you have a fast deposit when you do business with them.

Another thing we noticed is that they say you can be assured that your transaction will be secure, but really that is something that should be a default setting when it comes to a financial transaction like this. It may be a little unsettling to think that they needed to mention this when it should be something that happens automatically.

North Cash Review

North Cash says you can avoid costly overdraft fees, but one thing you want to keep in mind is that if you don’t have enough money in your account mean it comes time to make your payment, they will also charge you $30 in NSF fees, and that’s in addition to whatever your bank charges you when you overdraw your account. This can mean you are getting fees that are over $50, and that is if your bank only charges you $20 when you overdraw. Most banks these days charge more than that, so are you are looking at quite a hefty fee if you don’t have the money in your account when it comes time to make your payment.

The reason this is important to consider is because if you are having financial trouble, there may come a time when you need to make a payment and the funds aren’t in your account. You can really do some quick damage to your checking account by having a company that has access to your account and can keep charging you over and over again according to your User Agreement when you take out a loan.

They have an express application that you can use if you have already done business with them. This is important to note because it shows that it’s not really the answer to financial problems and you’ll likely be back for more money later.

Big Fees
The fee structure for a loan from these guys is pretty outrageous. On a simple $400 loan you can end up paying over $2000 by the time the whole thing is said and done. It doesn’t matter whether you are taking a long time to pay off a loan, this is an absurd amount to pay to borrow a small amount of money. Keeping it all in perspective, if right now you desperately need $400, that might seem like a lot of money but really it isn’t very much money in the grand scheme of things. But when you end up paying over $2000 in order to pay the loan off, that is a big chunk of change that will definitely be felt.

Expensive Money
They blatantly admit that this is an expensive form of money, so you should not think for a minute that this is a deal or that they are helping you out in any way. This is also a business that is owned by a Native American tribe, so they are not subjected to the laws of the United States of America, and that includes the laws that are in place pertaining to a company’s rights when trying to collect money from an individual.

Our Recommendation
North Cash is not getting our recommendation because the fees and interest that are charged are just too high, and you are better off going with a local payday lender that will not charge the exorbitant rates. Even if you take out a payday loan again and again and it takes you several months to pay it off, you won’t come close to paying the sort of rates that they are charging here.

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