Complete guide
Answers, tradeoffs and next steps
Use the sections below to evaluate fit, not to predict approval.
State-specific decision hinge
Iowa’s value is the fee ladder plus aggregate-check constraint; a requested amount must fit both the face-amount total and current checks held.
Current state rule table
| State field | Current rule |
|---|---|
| Aggregate face amount | No more than $500 at one time |
| Checks | No more than 2 held from one maker at one time |
| Fee | Up to $15 on first $100 + $10 on each subsequent $100 increment, prorated |
| Maximum hold | 31 days |
| Refinance | Same lender cannot repay/refinance/consolidate the transaction with proceeds of another postdated-check transaction |
Product scenario
At the statutory ceiling, a $300 face amount produces $15 on the first $100 plus $10 + $10 on the next two $100 increments = $35 fee.