What is the Cash Advance Feature?
The Super Cash Advance offers a deposit ranging from $20 to $200 to eligible Super deposit account holders. It's important to note that this cash advance is not a lending product, and it has no affiliation or association with MRV Banks. The terms and representations of this feature are solely provided by Super.com.
How is it Different from a Loan?
While the cash advance feature operates similarly to a loan in some respects, it stands apart due to the absence of interest or mandatory fees. Therefore, by definition, it is not considered a loan.
Is Cash Advance a Payday Loan?
No, it is not a payday loan. Repayments for the cash advance are automatically deducted from your Super deposit account on the due date, assuming you haven't opted out of the auto-pay feature. In cases where there are insufficient funds in your Super deposit account, the cash advance repayment will be drawn from your linked bank account or debit card. If your linked funding account also lacks sufficient funds, the cash advance repayment will be deferred until your Super deposit account or linked funding source has adequate funds. Rest assured, you will be notified of any overdue cash advance balances.