Would Wellsfargo bank give short term loans?

Would Wellsfargo bank give short term loans? Topic: Would Wellsfargo bank give short term loans?
June 16, 2019 / By Annona
Question: My friend told me that she's able to get a short term loan with her bank (us bank) and they will just take it out of her account the day she gets paid next. Does anyone know if Wellsfargo does that too? It's not overdraft fees. It's just basically getting your paycheck early. I do have direct deposit. Which bank do you have?
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Best Answers: Would Wellsfargo bank give short term loans?

Yehowah Yehowah | 9 days ago
Wells Fargo does have a loan that you are looking for, called the Direct Deposit AdvanceĀ®. The current amount available is between $200-$500. You must have your paycheck (or other recurring direct deposit) automatically deposited into your Wells Fargo account to be eligible for the loan. You can consult Wells Fargo Web site at https://www.wellsfargo.com/checking/dire... for more information regarding the exact terms of the product. However please note that even Wells Fargo warns you against misusing this product due to its expense. They write: "Please be aware that this service is expensive and must be repaid quickly. Direct Deposit Advance is not intended for use as a long-term financial solution". The fee is about $7.5 for every $100 withdrawal. That is a hefty fee. This type of service is commonly called a payday loan. Private payday lenders are even more expensive charging both high fees and high interest rates. The main problem is that these loans just become another debt burden to service. I recommend you read the Bills.com article about payday loans http://www.bills.com/payday-loans/ to understand the problems with this type of service. If it is a one time draw, the Wells Fargo Direct Deposit Advance, is cheaper than paying overdraft fees. However, a line of credit, if you qualify would be cheaper. If you are having debt problems, then I suggest that you read about debt relief solutions at Bills.com article http://www.bills.com/debt-relief/. After reading the articles and looking at Wells Fargo, you should contact your banker to get more information.
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Yehowah Originally Answered: What does Short Term and Long Term causes/outcomes mean?
Short term causes and effects refer to the virtually 'immediate' causes and effects of certain events. For example a short term cause of the French Revolution was a 'bread riot' gone rampant. One immediate effect was the storming of the Bastille. Long term causes and effects refer to those things which were 'simmering' in terms of causes of events and the resulting events which occurred much later on or were continuing processes/events which took place long after the original event. For example there were many long-term factors, events or catalysts leading up to the French Revolution. The State/monarchy was out of touch with the people and philosophers of the Enlightenment had communicated to the people they should expect better. There had been a series of crop failures leading to high prices and scarcity of the necessities of life and those in power had just kept on raising taxes as if a starving population could keep on giving and paying. Long term effects of the Revolution would have been the rise and demise of Napoleon and his Empire and the reconfiguration of the political map of Europe.
Yehowah Originally Answered: What does Short Term and Long Term causes/outcomes mean?
US involvement in WWII: Short term cause, pearl harbor. Long term cause, rise of fascism in Europe. Short term outcomes, Japan and Germany beaten into submission. Long term outcome, more peaceful world.

Shelton Shelton
If you bank with Wells Fargo and have direct deposit then you should see the "cash advance" option when you go to the ATM or do your online banking. Wells Fargo allows you to get up to half of your expected pay check ahead of time for a nominal fee. Just ask your banker to activate this feature for you. I have seen the option... but never had the need to use it... so I really don't know too much about the fees, etc.
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Norm Norm
My bank also does that. Payment advance. You need direct deposit to get this. (an expensive way to get money). --- I cannot mention the bank I use. Not in this site. But it is a regional bank and I know that all big-boy banks offer these. The fees might as well be overdraft fees - VERY expensive to do this loan.
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Norm Originally Answered: Should i ask the bank to do a short sale/ or modify my loan?
The answer to your question would depend on your present financial condition. If you are able to make monthly mortgage payments with a reduced monthly payments then a loan modification would solve your problems. If you are under no circumstances able to make any monthly mortgage payments under any conditions to include a reduction in your monthly mortgage payments then a short sale would probably solve your problems If you are able to make your monthly mortgage payments as they are then you need not request a short sale or a loan modification. I hope this has been of some use to you, good luck. "FIGHT ON"

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