Questions

1. What if I have bad credit or no credit at all?

You can still be approved for a payday loan even with bad credit or no credit at all. You must be employed and earn a regular paycheck of at least $667 every two weeks in order to qualify for a payday loan.

2. How much money can I borrow?

First-time customers may borrow up to $300 while return customers may borrow up to $1500. The amount is based on your take home pay. Loan limits may increase depending on your repayment history with us.

3. Do I have to fax anything in?

No. The information required can generally be obtained by a quick phone call or online chat. Unlike other payday loan companies, we don’t require any documents faxed by you.

4. Will you run a credit check?

PaydayLoansCanada.com may need to verify some of your information against several national data bases including TransUnion. A bad credit score, or no credit score at all does not mean you will not be approved.

5. How long do I have before I have to repay the loan?

Our payday loans can be out for a maximum of 15 days, or the repayment date is always set on or before your next pay period.

6. What types of fees are involved?

There is a flat fee of $22.98 per every $100 borrowed. There are no extra fees or hidden fees anywhere. Our fees are very competitive and in fact are lower than many other online payday loan providers.

7. How long will it take for you to get the money to me?

Payday Loans Canada electronically deposits the money directly into your bank account within 24 hours – it’s that fast!

8. I don’t live in Canada, can I still apply?

No. We only accept applicants from Canada.

9. What can I use my payday loan for?

Payday Loans Canada has no restrictions on how you spend YOUR money. Your loan is for you to use as you wish. It’s important to know how much you can afford and do not convince yourself that you can afford more.

10. Once approved, how do I receive my money?

The funds are automatically deposited into your designated bank account usually within 24 hours of applying for the payday loan.

11. Can I get an extension or rollover my payday loan?

Payday Loans Canada does not offer extensions or rollovers. However, our customers are eligible to request another loan once they have repaid their original loan in full. Only one payday loan can be outstanding at any given time.

12. Why don’t you offer extensions or rollovers?

Payday Loans Canada firmly believes that a payday loan should be a short term loan solution only. When a loan is rolled over, interest accumulates. This almost always results in a vicious cycle of paying off interest and never the principal of your payday loan.