Cash is great. Everyone loves cash, right? But you know what is even better, faster, and easier? NOT using cash! Using your funds electronically saves so much time, effort, and yes, even money. Why some people are still against direct deposit, and electronic transfers, when there are so many benefits?
Direct Deposit > Cash
Think about the long and arduous route your paycheck takes:
Funds are transferred, and your check is cut.
You take your check to the bank, to cash or to deposit, or both.
Your funds are now available to you to access, usually on the same business day.
Unless of course you work until 6 or 7pm and deposit the check after hours, in which case it will be available to you the next business day.
… unless of course you get paid on a friday and go in after hours, in which case it might be monday or tuesday before your funds are available.
On the other hand, with direct deposit every step is skipped, and usually your pay gets deposited right at midnight the night before.
Instead of waiting all day to access your own money, it’s there when you wake up.
Direct Deposit Improves the Loan Experience
Just like with your paycheck, direct deposit and electronic transfer of funds can make all of your financial dealings fast and easier.
When you take out a loan, for example, why would you want to wait the extra time for a check to be mailed to you? Even if the company could send you cash (they can’t, and won’t) it would still take longer to arrive than simply placing the money in your account electronically.
At NSL we handle the entire loan process electronically. The application, the contract, the funds, and the repayment are all handled 100% online.
That’s what makes us the fastest, and most convenient small loan company online!