Skip to main content

Last Updated on April 19th, 2023 at 10:30 am

Those who are looking for a payday loan are usually in urgent financial circumstances. If you’re facing hospital bills, emergency home repairs, or need to fix your car, the fastest and most suitable way may be a payday loan.

When deciding to apply for payday loan, you must consider whether you would prefer to deal with an actual high street shop or use an online lender. In this guide, we’ll help you figure out which you want to use and why, exploring the following key points:

  • Safety
  • Access
  • Speed
  • Convenience
  • Comparison


Is a Payday Loan Store Safer Than a Online Payday Loan?


One of the most important benefits of visiting your local payday loan store is the ability to interact with a local and physical person, perhaps even someone you know from the area. You may feel safer going to a physical storefront and interacting with someone and feel more secure in knowing who you are dealing with. When you use an online shop, it doesn’t mean you get low-quality service, but you cannot meet face-to-face. 

To feel safe when using loan products online or at a store, you should make some checks. The first and simplest check you can do to find a secure loan is to make sure that the business is properly licensed. At Pheabs, all of our partners have been carefully reviewed and picked to guarantee that they uphold OLA Best Practices and will provide an effective and safe loan product. Read our guide to find out more about where to find a safe payday loan.


online safety pheabs


Is It Easier to Access a Payday Loan Store or an Online Payday Loan?


One of the greatest benefits of an online loan is 24/7 access. An online payday loan is an excellent opportunity to get cash without requiring you to go to relatives or banks. In many cases, they are capable of solving your financial problems any time, on any day of the week – and as quickly as possible! 

Lending storefronts often close during weekends. You may wait until the store opens on Monday only to find that your request isn’t approved, then you’re back at square one. If your local payday store is closed, you can submit a form for a loan online. There’s no exception for weekend payday loans. Whether it’s 6 am on a Sunday or 2 am on a Friday night, Pheabs can provide you with an instant decision on your loan. 


Is it Faster to Use a Payday Loan Store or an Online Payday Loan?


An online loan offers a much faster application process. When we need cash in an emergency, time can be of the essence. Once accepted, a lender will be in touch to get the money straight into your account as soon as possible. You could receive funds within just one hour!

Comparing payday loans can often take time – traveling to various local payday loan stores, looking for a parking spot, waiting in line, and filling out paperwork. Alternatively, Pheabs can help you find the best deals all online and 100% free of charge. 


speed loan pheabs



Is it More Convenient to Use a Payday Loan Store or an Online Payday Loan?


When accessing a payday loan through a shop, you will need to travel to your local store. If you don’t have the time during working hours to make the trip, an online loan may be more convenient. Lending storefronts will also often require paperwork to be filled before they can assess your inquiry. In comparison, you can find an online payday loan with only a short online form, which takes a few minutes to complete. That’s zero paperwork to access your payday loan options! Pheabs offers a quick and straightforward payday loan search, which lets you compare loans online from the comfort of your own home.


Is Comparison Easier With a Payday Loan Store or an Online Payday Loan?


One drawback to physical loan shops is that they lack competition. There are many more online companies than there are physical shops. And, because it is more cost-effective for lenders to operate online, there is far more choice. In your local area, there may be few physical shops to choose from, and without the competition, it’s hard to know whether you’re getting the best deal on your loan. Pheabs can compare direct lenders from across the country, so you can be sure that you will only see the best possible deals. This saves you a great deal of time in your payday loan search.

Which one you choose is entirely down to how important the factors mentioned above are to you. When it comes down to it, it is naturally you, the customer, who decides where to find their payday loan and which lender to use. 

Was this article helpful?
Katie Fisher

Katie Fisher studied English Literature before working in consumer finance as a research and content writer. She was one of the first members to join the Pheabs family and has developed a following for her writing, especially surrounding high cost loans and increasing transparency. You can follow her here on Linkedin.