Overview

The Same Day Cash Advance is a short-term credit product intended to cover urgent cash needs such as emergency repairs, medical bills, unexpected travel, or temporary gaps in cash flow. It provides a secure and regulated means to receive funds quickly, with clear terms and customer support available throughout the process. This solution is designed for borrowers who require immediate liquidity and prefer a streamlined application, fast decisioning, and same-day disbursement when approved during regular business hours.

Key Features

• Rapid approval: A simplified application and automated underwriting enable fast decisions, often within minutes during business hours.
• Same-day funding: Funds can be deposited to the borrower’s account on the same business day if the application is approved and submitted early enough in the day.
• Transparent pricing: Clear disclosure of interest rates, fees, and repayment terms prior to acceptance, ensuring no hidden costs.
• Flexible loan amounts: Various advance amounts to accommodate different needs, subject to eligibility and underwriting criteria.
• Repayment options: Multiple repayment schedules and methods to suit individual cash flow patterns, including single-payment and short-term installment plans.
• Secure processing: Robust data protection and secure transmission of financial information to safeguard customer privacy.

Benefits

The product is tailored to deliver practical advantages for consumers facing time-sensitive financial needs:

• Speed and convenience: Quick application and funding reduce stress associated with urgent expenses.
• Responsible lending: Underwriting practices balance speed with careful assessment to help ensure borrowers receive appropriate loan amounts.
• Predictable repayment: Clear schedules make it easier to plan for repayment and avoid surprises.
• Customer support: Dedicated representatives can assist with the application process and answer questions about terms or repayment.
• Access to banking tools: Borrowers may pair the advance with existing First Horizon banking services for easier account management and payment handling.

Who Is Eligible

Eligibility criteria are set to verify the ability to repay while ensuring access for qualifying consumers. Typical requirements include:

• Being at least 18 years old (or the age of majority in the relevant jurisdiction).
• Having a verifiable source of income or employment.
• Possessing a valid government-issued ID and a checking or savings account in good standing.
• Meeting credit and underwriting standards determined at the time of application.

Specific eligibility and documentation requirements may vary by state and product variant. All applicants receive full disclosure of criteria during the application flow.

How It Works

1. Submit application: Complete a straightforward online or in-branch application with identity and income details.
2. Underwriting review: Automated systems and trained underwriters evaluate eligibility and determine the appropriate loan amount and terms.
3. Receive offer: If approved, the borrower receives a clear offer outlining the advance amount, fees, interest, and repayment schedule.
4. Accept and fund: Upon acceptance, funds are typically deposited to the borrower’s designated account the same business day if the request meets cutoff times.
5. Repay: Repayment follows the agreed schedule. Multiple payment options are available to simplify timely repayment.

Fees, Rates, and Repayment

All pricing is disclosed upfront. The cost of the advance will vary depending on the amount, term length, and the borrower’s credit profile. Borrowers receive a detailed disclosure that includes:

• The annual percentage rate (APR) or equivalent rate for the short-term product.
• Any origination, administrative, or processing fees.
• Payment due dates and methods.
• Prepayment options and whether prepayment reduces interest charges.

The product emphasizes transparency to enable informed financial decisions. Customers are encouraged to review disclosures carefully and reach out to customer support for clarification before accepting an offer.

Security and Consumer Protections

First Horizon National Corporation adheres to applicable federal and state consumer protection laws and employs industry-standard security measures to protect customer information. The Same Day Cash Advance product includes:

• Secure data encryption for application and account information.
• Identity verification procedures to prevent fraud.
• Clear disclosures and consent practices to ensure customers understand their obligations.
• Access to customer service for dispute resolution and account assistance.

Useful Considerations

• Evaluate whether a short-term advance is the most economical option compared to alternatives such as a personal loan, overdraft protection, or a payment plan with a vendor.
• Plan for repayment to avoid additional costs or negative impacts to banking relationships.
• Contact customer support if financial hardship arises; options may be available to help manage repayment.