Page 35 - Consumers and Mobile Financial Services 2014

March 2014 27

6. Was the money you received from your most recent payday loan or payday
advance used for any of the following reasons?

1 0
Yes No
a. Paying utility bills (phone, power, gas)
b. Paying rent or mortgage
c. Paying for an emergency expense, such as repairs to your home or car, or a
medical bill
d. Deposited into a bank account to avoid overdraft charge(s)
e. Paying miscellaneous bills
f. Buying food, groceries, or other living expenses
g. Other (Please specify):[txt]_________________________________

[SP, IF Q4 = A; shown on the same screen as Q5]

7. Thinking of the most recent time you took out a payday loan, what was the
main reason for using a payday loan or payday advance service rather than a
bank loan or credit car?
a. The location of the payday lender was more convenient
b. The payday loan was much quicker to get than a bank loan or credit card
advance
c. I thought it would be easier to get a payday loan than to qualify for a
bank loan or credit card
d. I didn’t think banks made loans for small amounts of money
e. It felt more comfortable to work with the payday lender than to use
a bank
f. I didn’t want the loan to show up on my credit report
g. I didn’t think I would qualify for a bank loan or credit card
h. Other (Please specify):[txt]________________________________

[DISPLAY]

A prepaid card is a card where funds are loaded or added to a card and then you
access those funds with the card number or by swiping the card. It works like a
debit card except that it is not connected to a traditional bank account. A prepaid
card is NOT a credit card.

There are three kinds of prepaid cards you may have seen before:

1) General purpose prepaid cards are loaded with money and can be used to
make payments in stores and online, much like a debit card. These cards usu-
ally have a Visa, MasterCard, or American Express logo on them. Examples
include the Green Dot card, NetSpend card, or American Express Bluebird
card.

[SP]

8a. Have you used a general purpose prepaid card in the past 12 months?
a. Yes