The Deferred Presentment Services Act was fully repealed, effective January 2026.
What a Cash Advance Costs in South Carolina
South Carolina's Deferred Presentment Services Act — the law that authorized traditional payday-style cash advances — was repealed effective January 1, 2026.
Loan Size, Term, and Renewal Rules
Former licensees can transition to supervised-lender status, but the old $550-cap, database-tracked cash advance product no longer exists as such.
| Factor | Rule |
|---|---|
| Deferred Presentment Services Act | Repealed, effective Jan. 2026 |
| Traditional cash advances | No longer authorized |
Verify current rules with the South Carolina Board of Financial Institutions before applying with any lender — this summary is for general information only, not legal advice.
Comparing Your Options in South Carolina
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