How long will it take to receive my loan?
If your application is approved and you signed the contract before 1 p.m., the funds will be deposited via Interac e-Transfer the same day, subject to a $29.50 fee. Otherwise, the funds will be deposited the next business day after we receive your signed contract.
What are the eligibility requirements?
- Be 18 years of age or older
- Provide a voided check
- Provide a pay stub
- Complete the IBV form
- Be a resident of Canada
- Provide valid photo identification
- Have an account with a Canadian bank
- Have a minimum monthly income of $1,200
When will I be eligible for renewal?
You will be eligible for renewal when your account balance reaches $150.
Can I repay my entire balance at any time?
You need to call one of our customer service agents and they will explain the process to you.
What are my options if I have difficulty making my payment?
If you are having difficulty making your payments, we recommend that you call an agent to make an arrangement with us. We are committed to respecting our clients' financial difficulties. We can offer you various options, including deferring or reducing payments for a fee. If you become unable to meet your obligations, please be aware that we will use responsible collection techniques to process your case. Once your case is transferred to collections, we will be unable to assist you further.
Under what circumstances can my application be refused?
- Incomplete form
- Non-compliant ID
- Multiple NSF accounts
- Salary paid by check
- Non-existent bank account
- No income
*This list is for informational purposes only, and your application may be refused for other reasons.
What are the accepted sources of income?
- Salaried employee paid by direct deposit
- Employment insurance benefits
- Family allowance benefits
- Long-term disability insurance benefits
- Self-employment under certain conditions
- Pension plan
- WSIB/CSST beneficiary
- Maternity income
What happens if there are insufficient funds?
In the event of insufficient funds, a $45 fee will apply. Never hesitate to contact us if you have difficulty making a payment; we will find a way to reach an agreement. Our customers are important to us. When you demonstrate your commitment to fulfilling your obligations, no request will be refused.
What are the fees if there are insufficient funds in my account?
The fee for insufficient funds in your account will be $45. Therefore, a payment arrangement will need to be made to rectify the situation.
How do I apply?
To apply for a cash advance, simply click on the "APPLY" tab and follow the steps. You will receive a response within a few hours, and the funds will be transferred to you within 24 hours of your application.
What is an IBV and is an IBV safe?
The Instant Bank Verification (IBV) process relies on integrating banking infrastructure with the IT systems of third-party service providers. When an individual or business provides banking information during a service request, the provider uses this information to automatically connect to the relevant bank account via a secure API (Application Programming Interface). Once the connection is established, IBV retrieves and analyzes relevant financial data in real time, such as balances, recent transactions, statements, and bank account details. This information is then verified against the details provided by the requester to determine the accuracy and authenticity of the data. It is important to note that IBV adheres to strict security standards to protect sensitive information and ensure the confidentiality of customers' banking data. Benefits of Instant Bank Verification (IBV).
- Speed: One of the main advantages of IBV is its speed. While traditional verification methods can take several days or even longer, IBV provides virtually instant results. This allows service providers to significantly reduce request processing times and offer a smoother customer experience.
- Reduced risk of fraud: By connecting directly to customers' bank accounts, IBV minimizes the risk of providing false information. This helps prevent fraud and ensures that only legitimate individuals or businesses access services.
- Simplicity and convenience: For customers, IBV offers a more convenient experience, as they don't have to provide numerous documents and information to prove their financial identity. A simple connection to their bank account is all that's needed to confirm their status.
- Improved customer experience: By reducing friction related to identity verification, IBV improves the overall customer experience. This can lead to greater user satisfaction and increased loyalty to service providers that use this technology.
I've changed bank accounts; do I need to notify you?
If you change bank accounts, you must notify us as soon as possible to avoid overdraft fees.
What forms of identification are accepted?
- Driver's license with photo
- Health insurance card
- Passport
- Social Insurance Number (SIN)
What constitutes a compliant bank statement?
A compliant bank statement must include your full name, address, transit number, account number, and bank. It must also show the dates and transactions.
Can I get a loan if I don't have a good credit score?
Yes! It's possible to get a loan with us, even with a poor credit score, by analyzing your bank statements.
What happens in case of non-payment and disagreement?
The outstanding amount will be sent to our collection agency, and the interest rate will be the same as that stated in your contract. In addition, extra fees will be applied.
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