When it comes to getting money fast, what about the payroll advance ?
Because as an alternative when it comes to getting online money loans such as microloans, it can be a good option.
For this reason, from the web we are going to show you what the payroll advance consists of, not really being a credit.
It is not, although it may be, since there are financial companies that offer this service in the form of credit.
That is, they can obtain the salary advance in two different ways.
Under what forms can we get the payroll advance?
There are two potions, one financial and one that is not.
Therefore it is obvious to point out that the non-financial one will be the one with the best conditions.
Basically because here the company will not apply any interest rate.
We are going to know the two existing options.
- Company payroll advance
In case you did not know, I will tell you that the company that pays you can offer you the advance of your payroll.
That is, you can ask him to pay you the next payroll before the obligation arises.
However, and from what we see, not all people are aware of this possibility in the market.
It exists and is real, being something that everyone has to know.
Your company can anticipate the collection of the next payroll, consequently not being necessary to go to online loans.
The advantage of this option is more than clear, you do not pay interest, commissions and other financial expenses.
- Payroll advance through financier
In this case, it is an urgent loan .
What the finance company does here is advance the credit amount up to the payroll limit.
It is similar to online credits in the sense that it is immediate.
The problem is that, like these, their APR is high.
Which option is better when taking an advance loan?
It depends on what each person wants to do.
Because of course, there are people who do not want to request the advance in their company because they do not want them to know or for any other reason.
If this is your case, without a doubt, the advance financially or any of the other fast loans that the market offers you will be a better option.
In case this does not affect you in the least, asking for it from the company will always allow you to save.
The company does not charge you interest for advancing the money.
The downside is that you won't be able to do it many times.
Conclusion of the payroll advance as an alternative to online loans
Taking into account that the amounts of online credits are less than € 1000 through this alternative, many would not have to resort to financing.
It is true that only salaried employees can request it, for example, the self-employed will not be able to access it.
Now, if you are a salaried employee and can exercise this option, why not do it?
The advantage in our opinion is more than clear, being something that is definitely worth it.