The Payday Advance Process 

1. A customer service representative verifies that the customer is currently employed with a sufficient net salary and has an open, active checking account.
2. The customer presents verifiable picture identification, proof of residence in the form of a bill or invoice, and bank statement.
3. Assuming positive verification of employment, checking account, proof of residence, the applicant is approved for a payday advance.
4. The customer service representative determines the amount for the advance based on the customer's income and informs the customer that repayment is due on the customer's next payday (up to 30 days by law).
5. The customer then provides a personal check in the amount of the advance plus the fee.
6. Upon receipt of the check, the customer receives cash for the amount of the personal check, less the flat service fee.
7. On the agreed day of repayment, the applicant can exchange cash for the full amount of the check, or the customer's check is deposited for collection.

FIGURING THE ADVANCE AMOUNT

Amount of advance depends on net income of the individual:

• $200 net per week qualifies for a $100 advance
• $400 net per week qualifies for a $200 advance
• $500 net per week qualifies for a $260 advance

Figures provided by Fast Cash, Inc.

PAYDAY ADVANCE DEMOGRAPHICS

• Incomes range from $30,000 to $50,000
• Average age is 36.4 years old
• Approximately 35.8 % of customers own a home
• Average length of time at current residence is 53 months (4.4 years)
• Average length of time at current employment is 46 months (3.9 years)

These statistics were compiled from national customer data by Advance America Cash Advance Centers, Check Into Cash, Inc., and National Cash Advance.