Zip 19 is a payday loan company who offer low cost loans at $19.98 per $100.00 borrowed. The loan amount can be up to $1,500.00 for returning or existing customers. New customers are given a loan ceiling of $400.00 which can be subsequently increased with patronage and in proportion to income. Getting a loan with zip 19 offers the following benefits:
Consolidated processing. The steps are easy as 1-2-3 which starts with filling up an online application, getting an email confirmation, and getting the loaned amount electronically. Two considerations should be known to the customer though: zip 19 does employment verification and performs credit check. Employment verification permits easier processing time and credit check serves an identification function.
Additionally, documents needed to be sent may be made by email under accepted file extensions.
Direct deposit and automatic debit. These entail electronic processing of both crediting the loan amount to the customer’s account by direct deposit and repayment by pre-authorization and ACH (Automated Clearing House). Both methods are free thereby enabling customers to cut costs on potential fees. By way of pre-authorization or ACH, the loan amount is debited from the customer’s account automatically on the day agreed on.
Both direct deposit and automatic debit requires utilization of the customer’s account and routing numbers.
Instant Reloan. This is unique to zip 19. This is pay day loan product which enables a customer to get a same-day loan. Any loans outstanding should be paid though in order for a customer to be approved for Instant Reloan. Although this is an available option, zip 19 does not permit loan extension or rollover.
Eligibility. There are four eligibility requirements: the borrower has to be at least 18 years old, he must be a US citizen, has a checking account, and currently employed and receives income by direct deposit.
Security. Customers are required to input their Social Security number during the first step of the application process. This can cause someone to be concerned but Zip 19 is bound by confidentiality and employs encryption on its website. A customer can click on the Privacy Policy tab on the website itself.
For customers who have concerns or inquiries, zip 19 maintains various lines of communication from fax, email, live chat, to phone support. Contact details are all found on the company website www.myzip19.com.
Category: Payday Loan
