Getting monetary loans without a bank account is easier than you think. You just have to figure out a way to use the resources of others, with their consent, of course. It could be your parents, siblings, or your best friend, or someone who is willing to help you obtain a loan for your personal needs, such as purchasing a new laptop for school or a vehicle to use as a mode of transportation. There are actually a few places and facilities where you can obtain a loan without the hassle of opening a bank account first. Here are some samples for you to fiddle with:
- Payday loaners
- Pawn shops
- Credit cards
- Payday loans. If you have a decent paying job, you can apply for a payday loan if you are a little short on cash or if you have some immediate financial requirement. Just make sure that you do not borrow too much so you can pay the lender as fast as you can because payday loan companies charge a very high interest on top of the actual amount they would loan to you. Be smart and borrow only the amount you need.
- Pawn shops. If you are unable to acquire a payday loan, you could try going to a pawn shop, particularly if you have some valuable items to use as collateral for your loan. One advantage of dealing with a pawn broker or pawn shop is that the lender will not report you to a credit bureau if you are in default, but rather your collateral will be sold to other customers if you fail to repay it within your grace period.
- Credit cards. If you just need a small amount of cash, perhaps credit cards will work for you. You can apply for one or two major credit cards that you could use for your financial requirements. Just remember that you have to pay back the credit card companies that you signed up with so avoid being a compulsive spender, because you can't blame nobody else if your credit standing becomes unsatisfactory due to your extravagant expenditures.
Having a bank account is a plus because it gives you more credibility when you apply for loans of any kind so make it your goal to establish one before you exhaust all the resources discussed above and suffer in the end.