Payday Loans in Wyoming

Yes, payday loans are legal in Wyoming from lenders the Division of Banking licenses as post-dated check cashers. The fee can't exceed $30 or 20% of the loan a month, whichever is more, and the loan can run one calendar month at most.

What the $30-or-20% Rule Charges From $100 to $1,000

The 20% applies to a full calendar month. For a shorter loan it's prorated by days, and the $30 minimum takes over on small or short loans:

Worked out from Wyoming law at the highest charges a licensed lender can make, not offers from lenders in our network; a lender can charge less.

Shown for a 31-day month, as the Division of Banking allows. The fee is fully earned the day you borrow, so the law requires no refund if you pay early. Need longer than a month? See Wyoming installment loan rules.

No Dollar Cap, So Size the Loan to Your Paycheck

Wyoming sets no maximum payday loan amount. The Division of Banking has seen loans advertised at up to $3,000, which for a month could carry a $600 fee and a $3,600 payment, and says loans that size may go beyond what a payday loan is for.

• The Division tells lenders to check that you can repay in full on the due date and still pay your bills.
• No splitting one loan to collect two minimum fees: one $200 loan for 18 days costs at most $30, two $100 loans $60, and the excess must be refunded.

Can't Pay in a Month? Wyoming's 60-Day Payment Plan

• Once every 12 months. Counted from the day you finish paying off your last plan.
• Ask before the due date. By 5 p.m. Mountain Time on the last business day before the loan is due, and sign an amendment.
• At least 4 payments over 60 days. Substantially equal, due on or after your paydays, or two weeks apart if you have no regular income.
• No added cost. No interest or fees while you keep to the plan, and you can pay it off early without penalty.

Miss a plan payment and the lender can demand the rest at once, with interest at 6% plus the Wall Street Journal prime rate on January 1.

What a Wyoming Payday Lender Can't Charge or Do

• No fee beyond the finance charge: no NSF, extension, workout, application, collection, court or attorney's fees, the Division says.
• No paying off, refinancing or consolidating a payday loan with another one from the same lender. Each loan comes with a written notice of that rule.
• The Division says the civil penalties of Wyoming's dishonored-check law don't apply to a bounced check on a payday loan.
• Active-duty servicemembers and their dependents are covered by the federal Military Lending Act's 36% limit.

Requesting a Payday Loan You Can Repay in One Payment

1. Work out what you can repay from your next paycheck: the amount plus a fee of up to 20% for a month, or $30 if that's more.
2. Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
3. Note the due date, your cancel deadline (5 p.m. Mountain Time the next business day) and the last day to ask for a payment plan.

Is the Lender a Licensed Post-Dated Check Casher?

1. Search NMLS Consumer Access, the Division of Banking's licensee search, by the lender's legal name or NMLS number.
2. Look for an active Wyoming Post-Dated Check Casher license. Each location needs its own, online lending included.
3. At a store, the license must be posted where you can see it.

Complaints go to the Division of Banking by letter or at [email protected]; call (307) 777-7797 with questions.

Common Questions

Official Sources

← Wyoming loan rules