Do ACE Cash Express payday loans have high interest rates?

Ace Cash Express payday loans have very high interest rates that range from 65.35 to 1409.36 percent, as of 2015. The rate a borrower pays depends on the state, the terms of the loan, funding rate and other underwriting decisions.

Applicants apply for a payday loan from Ace Cash Express through its website, and a decision is available within minutes. If the loan is approved, a borrower opts to pick up the cash the same day at a local Ace Cash Express location or to have the cash deposited into a bank account the next day. To apply, borrowers must be at least 18 years old, have an active checking account and be employed.