Cash Advance Check (or) Check Cash Advance

A common name for the funds issued to you by a cash advance company with a physical store is something called a cash advance check. This is also the same name of the personal check that you leave with the vendor in exchange for the personal cash advance they issue you.

Cash Advance Checks? Why Two of Them?

Truth be told, no one knows the answer to this question. The name "cash advance check" was somehow applied to both the check you receive (also called a cash advance loan) and the check you leave behind as collateral. This form of cash advance is slightly different than a normal payday loan, since it requires that a check is left behind. Regular cash advances (also known as payday loans, the two names mean the same thing) use your job as your collateral, and don't require that you leave anything behind except your checking account information for the purpose of withdrawing the funds at a later date.

So which is better? A check cash advance? A cash advance check?

Truly it's a matter of preference, and it's more of a question of how you, as a consumer, are willing to work with a cash advance provider's requests. There's no real difference between the two methods outside of the fact that in one case a physical check is left behind. There are no real advantages to either way since both situations require that you leave the provider with your banking information. Mostly it boils down to whether or not you prefer to go to a physical cash advance store, or if you are comfortable applying for a payday cash advance loan online. A majority of consumers surveyed said they prefered applying for cash advances online rather than in-person (source: CFSA 2003 Study), due in part to the perceived danger of visiting cash advance stores; these same consumers also referenced the additional benefits for privacy, security, and ease of use of online systems, as compared to the level of service they received at traditional brick-and-mortar stores.

So online cash advances are basically the same?

Yes, but ultimately it depends on your preference as the consumer and how you prefer to be serviced. A growing trend exists that favors the online cash advance industry because of the convenience factor, and the slow but steady trend that many businesses prefer conducting business online because it's cheaper. Physical stores are expensive to setup and maintain, and any products that the store sells to its consumers will reflect those extra charges. This is why the online cash advance companies have been so successful - because they are able to conduct business online and sell their cash advance products to consumers at a lower cost.