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Frequently
Asked Questions
1.
What are the eligibility requirements?
To
qualify for a Payday Loan Account you must meet the
following criteria:
- You
must be nineteen (19) years of age or older
- You
must be working
- You
must have been with your employer for more than two (2) months
- You
must have an active bank account with at least seven (7) transactions
and no more than two (2) NSF charges on your bank statement
in the last thirty (30) days
- You
must not have filed for bankruptcy in the past year
- You
must have an active phone that we can reach you at
Unfortunately
we do not lend to applicants who are self-employed, seasonally
or otherwise temporarily employed, paid by commission, on social
assistance, on worker's compensation or on disability.
Regardless
of the above requirements, the final decision on all applications
is subject to the sole discretion of the lender.
If
you meet these requirements, you must be able to fax us the following
documentation:
- Your
most recent paystub
- A
bank statement, from the account that your pay is directly deposited
into, showing your last thirty (30) days of banking transactions
- A
void, personalized cheque OR pre-authorized payment form from
the bank account that your pay is directly deposited into
2. How do I apply?
3.
How much money can I borrow?
We
extend loans of between $100 and $600 in increments of $10.
The maximum you can borrow is calculated based on your net income
and other employment information. On your first loan, there is a
limit of $300. If you qualify for more than this amount then you
can borrow additional funds once you have successfully repaid your
first loan.
4.
How fast can I get my money?
NEW!
Option
1: E-Mail Money Transfer
You can now have your payday loan in your bank account within
30 minutes of being approved. No other direct payday lender
can deliver your loan this quickly.
To qualify
for E-Mail Money Transfer you will need an e-mail address and
a bank account with online banking setup from one of the following
banks:
TD
Canada Trust
Bank of Montreal
CIBC
RBC Royal Bank
Scotiabank
Option
2: Direct Deposit
If
you don't meet the requirements for E-Mail Money Transfer then
we will issue your funds directly into your bank account via Direct
Deposit.
If
your account is opened by 10:00am Pacific time or 1:00pm Eastern
time we can often have your loan in your account that day, depending
on what bank you use. If you miss these cut-off times, your
loan will be in your account the next banking day.
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