Payday Loan Stores vs. Online Payday Loans

Payday Loan Store vs. Online Payday Loan

Time is an essential factor most lenders consider when sourcing for loans during emergencies like hospital bills, home repairs, or car repairs.

To get the best offer at the most convenient time, you should consider comparing the pros and cons of a payday loan store and an online payday lender when applying for a payday loan. There are differences in how online payday lenders and storefront payday lenders manage their businesses. As a result, they offer a different degree of safety, privacy, accessibility, and convenience. In this article, we’ll look at the following core themes to assist you in deciding which one to use and why:

  • Safety
  • Access
  • Speed
  • Convenience
  • Comparison

Comparison Between the Two Loan Types


Physical payday stores establish trust with the clients because they can deal with the same person for every transaction. They interact directly with customers and have specialists to give answers to questions they may have before deciding to obtain the loan. 

On the other hand, online payday stores do not involve the physical presence of the parties involved. Here, mobile apps and websites serve as means of connecting the creditor and the borrower. These online services do have information for the consumer to educate themselves if they need additional help though. Live customer representatives are also available to help customers in their application process.

One of the advantages of online stores over payday stores is the absence of paper fillings because it operates entirely online. The recommendation here is to check if the lender, irrespective of their mode of operation, is adequately licensed. Check Google for reviews from a third party such as Trustpilot. All of our partners at AdvanceSOS have been thoroughly vetted and chosen to ensure that they adhere to OLA Best Practices and deliver a reliable and secure lending product. Learn more about where to get a secure payday loan by reading our guide.


An online loan offers access to customers all throughout the year. They are capable of solving your financial worries any time of the day, be it late at night or early in the morning. You can easily fill out a form online and apply for a suitable loan offer as quickly as possible. 

If you want to use a payday store, you will need to drive to their location, fill out paperwork, and wait in line. Most stores work during typical work hours and have specific opening and closing times. So, if you are looking for a safe payday loan late in the evening or on a Sunday, you would likely have to wait until the next available working hour or until Monday. With an online lender, the time of the day or day of the week doesn’t affect your chances of getting a loan. 

Storefront lenders may request you to leave a post-dated check as collateral for the loan. When your loan is due, you must return to that location to make a payment, or the lender will process your check or collect payment by electronic debit. If the store-front lender also has a website, you may be able to repay your loan online as well, although this is dependent on the firm.


An online store has less paperwork, faster application, and a loan approval process. Once the lender approves your application, you can get the money as quickly as within one hour. The guarantee here is that the money goes directly to your bank account. You can receive and make payments entirely online.

However, a physical store requires a longer processing time because of the verifications that take place. It also requires visiting various local payday loan stores if you want to compare their terms before settling with the one that suits you. 


All it takes to apply for a loan online is your connectivity and a few clicks on a mouse. You don’t need to waste gas or wait in line for so long to know if the creditors will be granting your loan or not. It only takes a few minutes to complete a short online form, and voila! You nearly immediately get the results of your loan application. 

On the contrary, when applying for a payday loan through a store, you will need to visit the store in person. Loan stores will also ask you to fill out paperwork before they respond to your request. If you are always busy during working hours and unable to travel to your local payday store, you can get an online loan for convenience. AdvanceSOS provides a simple and convenient payday loan search that allows you to compare loans online from the comfort of your own home.

Pros and Cons of the Two Loan Types

Here are the pros and cons of using loan stores and online loans.

Online Payday Loans

Here are the pros and cons of online payday loans.


  • Provides more privacy as you can complete the process online from the comfort of your room.
  • It is time and location independent.


  • There may not be enough information to answer your questions immediately on the terms of the loan agreement.
  • You could be trapped into borrowing more than you can handle because of its simplicity.

Store Payday Loans

Here are the pros and cons of store payday loans.


  • They tend to look more secure to customers because they involve physical interactions.
  • Borrowers can make inquiries and get immediate answers before making their decisions.
  • You can experience fair customer service, as well as provide feedback and recommendations during your visit.


  • It requires bringing certain information such as proof of income, bank statements, proof of residence, and other personal references for verification purposes.
  • It is not the most convenient method.


There are many more online payday loan services than traditional stores. There is also a lot more variety because it is more cost-effective for lenders to operate online. There may be few physical stores in your neighborhood, and without competition, it’s difficult to tell if you’re receiving the greatest price on your loan.

The one you pick is totally dependent on how significant the aforementioned considerations are to you. When it comes down to it, you the client are the one who chooses where to get a payday loan and which lender to choose.

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    Payday Loan Stores vs. Online Payday Loans