When considering a cash advance, fees should not be the only criteria borrowers should use to evaluate lenders.  A cash advance fee is often dictated by the state* in which the loan is made, so service characteristics – ease of application, security protections offered, etc. – are as important, sometimes even more important.

So what are those factors that take borrowers’ “buying” decision beyond cash advance fees?  Consider these:

Ease of application: A good lender should enable borrowers to apply online in under ten minutes.  Cash advance fees don’t matter as much when you need to take hours to wind through the process.

No collateral or credit checks:  Again, a cash advance fee structure probably doesn’t matter much when either of these is required.  The cash advance should be made strictly on the basis of employment salary and having a bank account.

One hour approvals:  When you get word that your loan application was approved in under 60 minutes, you can move on immediately to such things as phone creditors to tell them the money is on the way.   A cash advance fee on a loan might be less than a late payment penalty for some bills.

Cash transferred electronically:  With a cash advance, fees on bills due can be averted if you beat the deadline.  With immediate availability of money, fortuitous timing solves many problems that aren’t neatly evaluated with simple cash advance fee characteristics of a lender.

Security and confidentiality:  Online protections from the lender are part of what cash advance fees cover.  Your lender should provide assurances that they use most-advanced technologies and processes to protect your personal information and your money.

*Some lenders operate offshore to avoid compliance with state banking regulations.  Conversely, other lenders operate in the US and comply with individual state laws that are designed to protect the borrower.