Payday loans are usually immediate, either when in person or when the application is over the computer. In some cases the cash will be handed directly to you whereas online it may be deposited directly into your bank account.
Under the "Truth In Lending Act" the payday loan company must disclose all fees and charges associated with a payday loan. This means they are written somewhere (usually in the fine print) in your loan application. Take the time to read the full application before signing.
Sometimes using the cash advance option on a credit card is a better option than a payday loan. Even though credit cards are notoriously high on interest rates for cash advances, it does give you the option to pay out over longer periods of time.
