Frequently Asked Questions
How much can I borrow using a CashPlease® loan?
The amount a customer can borrow using a CashPlease® loan ranges between $200 - $1,300. This amount is different for each user and is based on account activity
How will I receive the money?
Your money will be automatically deposited into your checking account within as little as 30 minutes on regular business days. If you complete the application outside of business hours, your funds may not be available in your account until the following business day.
How do I repay the loan?
You’ll pay back the loan in 3 easy payments over 3 months. You can choose the way you make your payments for this type of loan.
-Easy Pay- Have your payments automatically deducted from your account on the dates they are due.
- Manual Pay - Make payments through online banking, at a Midland branch, or by mail.
-Easy Pay- Have your payments automatically deducted from your account on the dates they are due.
- Manual Pay - Make payments through online banking, at a Midland branch, or by mail.
Can I pay the loan off early?
Yes, there is no penalty for paying your loan off early.
What are the interest rates and fees for CashPlease® loans?
These loans have no interest. Instead, there's a fixed, pre-paid finance charge of 15% per payment for our standard loan and 6.0% for military loans, making the costs clear and the payments predictable.
Are there any penalties for late payments?
Yes, if a payment is late, there is a charge of 5% of the regularly scheduled payment or $10, whichever is greater.
What are the eligibility requirements for this loan?
To be eligible for this loan, you must:
- Have a checking account in good standing* with Midland States Bank.
- Not be in default on any Midland loans or subject to any legal orders or levies.
- Not have a charged-off account balance.
- Be 18 years or older.
- Be enrolled in Online Banking.
The amount you can borrow depends on your checking account activity.
- Have a checking account in good standing* with Midland States Bank.
- Not be in default on any Midland loans or subject to any legal orders or levies.
- Not have a charged-off account balance.
- Be 18 years or older.
- Be enrolled in Online Banking.
The amount you can borrow depends on your checking account activity.
Is there a limit to how many times I can apply for a CashPlease® loan?
You can use CashPlease® up to 3 times in a 6-month period. After one loan ends, you need to wait 1 business day before starting another. This break is considered a “cool-off period.”
If I have a joint checking account, can I still apply for a CashPlease® loan?
Yes, a CashPlease® loan can be made by either the primary or secondary accountholder. However, eligibility is determined by the account’s activity, and only one CashPlease® loan can be opened on the account at a time. After one loan ends, you’ll need to wait 1 business day before starting another. Your account can take advantage of CashPlease® loans 3 times in a 6-month period.
1 The funds may be deposited as quickly as 30 minutes during regular business days. If you complete the application outside of business hours, your funds may not be available in your account until the following business day.
*Checking account must be in good standing which is not in default of any loan obligation to Midland States Bank and not subject to any legal or administrative order or levy. You cannot have a charged-off account balance.
CashPlease® is a borrowing feature included with Midland States Bank’s Liv Everyday Checking account. Any joint account holder must be 18 or older and enrolled in Online Banking to use CashPlease®. With an eligible checking account open for 30 days or more, your ability to use CashPlease® and the amount you are able to borrow is based on your Midland checking account history, including but not limited to account balances, transactions, overdrafts and return history. An active or recent bankruptcy or other legal process may disqualify you. Although your credit score is not used to determine eligibility, once you borrow money using CashPlease®, your account and activity will be reported to the credit bureaus. CashPlease® may positively or negatively affect your credit score.
CashPlease® is subject to terms and conditions on your loan agreement. The minimum borrowing amount is $200. The maximum amount you may be eligible to borrow is $1,300. Your checking account’s overdraft limit, if applicable, is reduced when you have an outstanding CashPlease® balance.
You can use CashPlease® up to 3 times in a 6-month period. After one loan ends, you need to wait 1 business day before starting another. This break is considered a “cool-off period.”
