You can easily get a same day payday loan only after 24 hours are over. It is extremely rare that you get the same day payday loan on the same day on which you have applied for it. Generally there is a time lag of 24 hours before the money is transferred into your account. Most online and offline payday loan companies make this kind of false advertising. But what many do not know is that these companies define a day as 24 hours or a full day.
After you apply for a same day payday loan, major portion of the day is usually spent waiting for the fax or a call informing you that the loan is approved. All the loans have to be approved before further processing, irrespective of how urgently you need the money and the advertising of the payday loan company assures you.
At times, the loan approval can be very time consuming. It involves faxing a blank check along with your identification to the payday loan company. You first have to photocopy the ID and that can mean the trip outside your home. If that happens, you can simply visit the payday loan office closest to you to save time.
Once you have sent across your ID and a blank check, you may have to wait for the approval. The same day payday loan company may call up your employer to find out if you are still employed. They use this method to verify that you are employed and your paycheck will repay the money lent to you by the company.