Can You Get Payday Loans with an SSI Debit Card? Answered

Those who receive Social Security benefits on a Direct Express debit card and have no bank account are not eligible for a payday loan. In order to obtain a payday loan with Social Security benefits, you will need to have an open and active bank account. For more details on getting payday loans using an SSI direct express card, see below.

Can You Get a Payday Loan with an SSI Debit Card?

You cannot get a payday loan with only a Supplemental Security Income (SSI) debit card. In order to qualify for a payday loan, you must also have an active bank account. The bank account does not have to be linked to your SSI debit card.

We confirmed this information by calling customer service representative from several payday loan lenders and reviewing payday loan requirements on lenders’ websites. We were unable to find any lenders that would issue a payday loan with only a debit card account number. Even if a routing number could be obtained from the bank that issues Direct Express debit cards, we were advised that the routing number and account number would have to link to an open and active bank account in the loan applicant’s name in order to qualify for a payday loan.

Payday loans are meant to be repaid with your next income check, whether that’s a paycheck or your Social Security benefits. Payday loans often carry high interest rates and have specific requirements that need to be met in order to qualify. For the list of payday loan options for people who rely on Supplemental Security Income, see our article: Social Security Payday Loan Options: SSI Payday Loan Companies.

What Is a Direct Express Debit Card?

Social Security recipients who do not have an open and active bank account can receive their benefits on a Direct Express debit card. The card can be used like any other debit card to make purchases, get cash back, and withdraw cash from an ATM. The only difference is that a Direct Express debit card is not linked to a bank account like a traditional debit card. When the amount on the card has been spent, you will have to wait for your next deposit of benefits to be loaded on to the card. To learn more about Direct Express debit cards, visit the Social Security Administration’s page on electronic payments or Direct Express’ FAQs page.

In Summary

Payday loans with SSI debit cards do not work. Those who receive their Social Security benefits on a Direct Express debit card and have no bank account are not eligible for a payday loan. If you also have an open and active bank account, there are lenders that will issue payday loans for Social Security recipients.

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