FREQUENTLY ASKED QUESTIONS
Who are we and what do we do?
Aloha! We are a local Maui company. Unlike other lenders' sites that charge 30 or 40% of you paycheck, we have the lowest rates nationwide!
We're local, fast, inexpensive and confidential.
You get your loan proceeds in less than an hour! We offer paycheck loan advances statewide, and we physically deposit your loan proceeds into your bank account that day, or we can have a check waiting for you at many banks statewide. No endless waiting for electronic transfers. If you bank at American Savings, First Hawaiian, Bank of Hawaii, Citibank, or Hawaii National Bank, we just walk right over to the bank and put the money into your checking account. Absolutely no humbug!
If you don’t bank at the above-mentioned banks, we can electronically transfer funds to your bank, or we can have a check waiting for you to pick up at many banks statewide.
Our cash advance fees are reasonable. Our charge is $15 per $100 advanced (i.e. a $100 advance will have a repayment of $117.65, a $170 advance will have a repayment of $200.00, a $255 advance will have a repayment of $300.00, a $253.13 advance will have a repayment of $300.00, a $340.00 advance will have a repayment of $400.00, a $400.00 advance will have a repayment of $470.59 , and a $510.00 advance will have a repayment of $600.00.) - See Disclosure for more information. Advances are repaid when we take the money from your account on your next payday.
Earn a $20 commission by referring a Loan of at least $200!!!
Whether you have already taken a loan out with us or not, we'll pay you $20 for each person you refer to us who takes out a loan of $200 or more. Just complete the referral form!
1. What is a deferred deposit, or post-dated check advance?
A short-term money advance of loan proceeds provided until your next payday when we will electronically take the loan amount out of your account.
2. How does it work? (also see How it Works)
We review your application and contract, verify your employment and checking account, and go through our normal approval process. Once approved (usually is less than half an hour), we deposit the loan proceeds (see Disclosure) into your account, or we can have a check waiting for you at one of many banks statewide.
We physically deposit into American Savings Bank, First Hawaiian Bank, Bank of Hawaii, Hawaii National Bank, Citibank or we electronically deposit to any other financial institution.
Then we hold the check you faxed until your next payday when we present your check to your bank by way of pre-authorized draft or electronic withdrawal.
3. What do I need?
Complete the application and fax your check made out to Maui Loan in the amount of the loan you want, $100, $200. $300, $400, $500, or $ 600 (see Disclosure) to us at 1-877-677-7979 (toll free).
4. Are there any requirements?
Yes. We require that you be employed for the last 6 months, that you have an open checking account in your name for the last 3 months, and that you are approved.
5. Does a poor credit history disqualify me?
Not necessarily! Maui Loan, Inc. is a local company and is in business to kokua (assist) customers. Many of our current customers have credit difficulties from time to time. No humbug!
6. What if I filed bankruptcy?
You may still qualify, if the bankruptcy is discharged, and subject to our normal employment and residency requirements. No humbug!
7. Is collateral required?
No. You simply authorize a Demand Draft and/or A.C.H. from your checking account by completing an application and faxing your check made out to Maui Loan, dated for the day you want to borrow the money from us at 1-877-677-7979 (toll free) We use this check to get repayment from your checking account. No humbug!
8. How long does it take to get approval for the payday loan?
The approval process usually takes less than 30 minutes.
9. Once approved, how long will it take to get my money?
If it is done physically (if you bank at American Savings, First Hawaiian Bank, Bank of Hawaii, Citibank, or Hawaii National Bank we will physically walk it over) it will take about half an hour. If done electronically, it should not be more than 24 hours, but we cannot take responsibility for delays of the federal reserve. If you wish to pick up a check at one of many banks statewide, it will be available to you within 4 hours.
10. What should I do if I believe my check might not clear the bank?
Call us immediately toll free at 1-800-315-1227. A "bounced check" could cost you substantial "NSF" fees by your bank and can also damage your credit rating. While your obligation to repay is not waived, we will attempt to assist you.
11. Is this transaction confidential?
Yes. This Internet application is secured by "SSL" encrypted technology. In addition, all of your records are held in confidence at our electronic commerce center.
12. Can I request multiple payday loans?
No. Only one payday loan can be outstanding at any given time. However, by calling toll free 1-800-315-1227, a customer service representative may be able to assist you with a larger payday loan (up to $600) or a collateral loan up to $10,000. You can also see our retail store website.
13. What are the benefits if I repay the payday loan on time?
Customers with a good repayment record receive expedited service, a good credit report to credit rating companies (a great credit re-builder!)
14. What happens if I don't follow through and repay my payday loan?
We would not be in business if our customers did not honor their agreements. We reserve the right to collect debts by all legal means including negative credit ratings, phone collection, legal action in the appropriate court, wage assignment and the acquisition of fees.
15. What is a Demand Draft?
A "demand draft" is a check created in lieu of your personal check per your authorization.
16. What is ACH?
ACH (Automatic Clearing House), is the electronic system setup by banks to transfer funds between themselves.
17. What are the charges or fees for receiving the payday loan?
Our cash advance fees are reasonable. Our charge is $15 per $100 advanced (i.e. a $100 advance will have a repayment of $117.65, a $170 advance will have a repayment of $200.00, a $255 advance will have a repayment of $300.00, a $253.13 advance will have a repayment of $300.00, a $340.00 advance will have a repayment of $400.00, a $400.00 advance will have a repayment of $470.59 , and a $510.00 advance will have a repayment of $600.00.) - See Disclosure for more information. Advances are repaid when we take the money from your account on your next payday.
18. Why should I get a loan from your company?
We are unique in the fact that we get your money to you faster and for less charge and no humbug!
We're local, fast, inexpensive, and confidential.
19. I have a problem that I can't seem to get resolved. Who do I contact?
Simply send an e-mail to ProblemResolution@paycheckloan.com or just give us a call at our toll free number, 1-800-315-1227, and one of our friendly loan specialists will be happy to assist you.
Our customer service mission is to spread aloha.