EZPaydayCash.com is an online payday lender based in Salt Lake City, Utah. The company is a direct lender and claims to abide by Utah laws, which isn't difficult considering Utah's payday-friendly regulations. EZPaydayCash.com has been banned from Oregon, California, and Washington for operating without a license. You can check whether a lender is licensed to operate in your state by checking the database of your local Department of Financial Institution, or its equivalent.
The entire process is performed online. There are no credit checks or faxes to send, just a simple form to complete. Interest rates are very high and repayment periods are very short. There are no credit checks, although EZPaydayCash.com will confirm your identity through other means.
Loan fees amount to $30 for every $100 borrowed. Converted to APR this amounts to interest rates ranging from 365% to 1564.28% APR depending on the length of the loan term.
The maximum amount is $1,000, although for an immediate decision the maximum amount is $500.
Approval decisions are provided instantly and money is usually transferred within one business day. To qualify you need to have had an active bank account for three months, the same employer for also three months, a minimum monthly income of $1,000, and you can't be currently going through a bankruptcy.
EZPaydayLoans.com has fast service and an entirely online loan application and cash transfer process, but these are its only saving graces. EZPaydayLoans.com has a bad record with financial regulation authorities. It repeatedly operates in states where it is not licensed to do business, and its interest rates are outrageously high, even for a payday loan. To top it, it has an F with the Better Business Bureau for its high number of unresolved complaints.