Explaining the loan process will clear up some of the questions and make clear an accurate timetable from the time of application to the time you actually have access to cash.

You decide that you need a payday loan and go online and and fill out the application. Once someone gets the application they will do a teletrack to make sure that you have not bounced any checks in the recent past. This only takes a few seconds to get this completed but your application may not be first on the list, so there could be a few hours of waiting for this alone.

The next step is to call and verify your employment. This could take and hour or more to get in touch with someone at your work to verify this information. Things do move faster if you have direct deposit and makes the lender more comfortable with issuing a loan.

Once everything is verified, then it gets approved and the loan amount goes into a batch processing for ach that goes out once or twice a day. This means that the odds are that you will not have funds available until the next day. And this is if you apply during business hours.

If you apply after hours then it will be the next day before they can even verify employment to even get the process started. You also have to account for being able to get in touch with your employer to verify this information, this is the human factor and just has to be dealt with.

Now, by looking at the provided information you can tell that there is no instant or 1 hour payday loan.

The terms is for an approval and that is a preliminary approval which means you passed the teletrack test.

Most that get past the teletrack will get the loans they need as long as everything else is verified.

Now that you know the truth and are ready to go I need to warn you about the dangers of payday loans. They are high interest loans, not gifts and they have to be re-paid.

Please do not borrow more than you can pay back in the average 2 week time frame of most payday loans and use them for emergencies only.

Payday loans have their place but must be used wisely.