The payday loan that pays you back.
Your employer knows that “things happen”, so anyone may occasionally need an emergency short-term loan. But payday loans are expensive when compared to traditional loans and should be used only for emergency short-term financial needs, not as a long-term financial solution. Your employer has asked us to show you how preparing for future emergencies with the contingency savings option is often a better solution.
Unlike other payday loans you may have seen, all PayUback loan fees will be deposited into savings accounts for your short-term and long-term needs. You may never have an emergency that calls for a PayUback loan and we hope you don’t, but you can take comfort in knowing it’s there at a moments notice if you ever do.
So we recommend that you;
- Sign up through your employer and
- Open your Dwolla account now.
Show me how. (link to be added)
This way you’re already set up, so if and when a need arises;
- You can borrow up to $500.00, with no questions asked.
- Your loan information is confidential: no record is kept in your employment file.
- PayUback will send the money to your Dwolla account normally within two hours of your Dwolla request (between 6 AM to 8 PM CST)
- Your loan will be repaid out of the next paycheck (if less than 3 business days away, it will be repaid the following payday) along with a $15.00 (per $100 borrowed) service fee.
- 100% of service fees are applied to your contingency and long-term savings accounts.
PayUback loan example: You borrow $400.00 on July 7. On your next payday, July 19 your employer pays us back out of your paycheck along with a $60.00 service fee. We divide this fee putting $30.00 into your contingency savings account and $30.00 into savings and loan shares.