CASH ADVANCE MATH / WISCONSIN

Payday loans in Wisconsin: rules, costs and cheaper options

Start with the rules. Then compare the full cost of an advance or a credit union loan before deciding.

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Wisconsin borrowing rules

Legal, with DFI-licensed payday lenders

Maximum loan: $1,500 or 35% of gross monthly income, whichever is less, including principal, interest and fees across all open payday loans
Fee cap: No maximum interest rate before maturity. After maturity, interest is limited to 2.75% per month. One returned-check or denied-transfer charge of up to $15 is permitted.
Loan term: Up to 90 days. No statutory minimum was found.
Rollovers: A payday loan may be repaid with another payday loan only once. Taking a new loan within 24 hours of repaying that second loan is treated as evidence of a violation.

Loans lasting more than 90 days can use separate loan-company licenses and do not have these payday-loan protections. Check which product and license apply.

Regulator: Wisconsin Department of Financial Institutions (DFI), Division of Banking

Repayment options and borrower safeguards

Repayment plans: If a payday loan is unpaid at maturity, the lender must offer 4 equal installments on the next 4 pay dates, at no more than 2.75% interest per month. This plan is available once per 12 months.

Cancellation and collection limits: You can cancel without a fee before the close of the next business day. DFI says payday lenders cannot garnish wages or make criminal threats. A check may be presented only once.

Database status: partly verified: The statute still describes a statewide database, but DFI's current FAQ says Wisconsin no longer has one and directs lenders to their own records and a signed customer statement. The date the database ended is not verified.

What the sources establish

The official statute website refused access. Researchers read an Internet Archive copy of the official chapter PDF published March 1, 2026, updated through 2025 Wisconsin Act 87. Later 2025 or 2026 acts were not checked. The database change remains partly verified despite the overall official-source classification.

Cheaper options in Wisconsin

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Last checked Sep 30, 2026. These state rules do not change the calculator's national example.

Full researched rules and qualifications

Legal status

Legal. Payday lenders must be licensed by the Department of Financial Institutions (DFI), Division of Banking, under Wis. Stat. 138.14. A payday loan is a loan with a term of 90 days or less where the lender holds a check or waits before debiting the account (138.14(1)(k)). A payday loan by an unlicensed person is void (138.14(15)(b)).

Maximum loan

$1,500 or 35% of the borrower's gross monthly income, whichever is less, counting principal, interest and all fees on all open payday loans with all licensees (138.14(12)(b); DFI guide and FAQ).

Fees

No limit on interest before the maturity date (138.14(10)(a)1; DFI FAQ: 'There is no maximum interest rate during the loan term'). After maturity, max 2.75% per month. Returned check or denied EFT: one service charge of max $15, and the lender may present a check only once (138.14(10)(b)). No fee for database use or for cashing the loan proceeds check. DFI guide (revised January 2026): average APR on 2025 Wisconsin payday loans 599.51%, or $91.98 interest on a $400, 14-day loan.

Term

Up to 90 days (definition in 138.14(1)(k)). No statutory minimum found.

Rollovers

A payday loan may be paid off with the proceeds of another payday loan only once (138.14(12)(a); DFI FAQ). Repaying that second loan and taking a new one within 24 hours is treated as proof of a violation, which works as a 24-hour cooling-off period (138.14(12)(a); DFI FAQ).

Other rules and source qualifications

Repayment plan: if the loan is not repaid at maturity, the lender must offer repayment in 4 equal installments on the borrower's next 4 pay dates, at max 2.75% per month, once per 12 months (138.14(11g); DFI FAQ). Rescission free before close of business on the next business day (138.14(11r)). No wage garnishment and no criminal threats (DFI FAQ). Database: the statute still provides for a statewide database (138.14(14)), but DFI's FAQ now says Wisconsin 'no longer has a statewide payday loan database'; lenders must search their own loan records and obtain the customer's signed statement (138.14(14)(i)-(j)) (partly verified: DFI gives no end date; the wording is absent from a web-archive capture of 2025-12-28 and present from 2026-02-16). Private right of action: damages of $250 or the loan amount, whichever is greater, plus attorney fees (138.14(16)). Loans over 90 days at high rates are made under separate 'loan company' licenses with no rate cap and without these protections (DFI FAQ). 2025-2026: the statute text published 2026-03-01 (updated through 2025 Wis. Act 87) shows no amendment after 2023 (history: 2023 a. 37, 131, 267).

Sources for this state guide