24/7 payday loans

Sometimes an unexpected emergency can create a difficult time for you financially. Even if you have a bad credit score and find yourself in a financial rut, there are options out there.

Payday loans can be helpful when emergencies strike and you have no other financing options. If you need cash to see you through until your next paycheque, read this guide before accepting a loan.

Lenders that e-Transfer payday loans in Canada 24/7

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Name	Product	Loan Amount	Loan Term	Interest Rate	Turnaround Time	Serviced Provinces	Offer
Money Mart Payday Loan Money Mart Payday Loan		$120 - $1,500	1 - 62 days	Varies by province	As little as 1 hour after getting approved	AB, BC, MB, NS, ON, SK		To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.	Go to site View details	Compare	loading Fetching your data...
Cash Money Payday Loan Cash Money Payday Loan		$100 - $1,500	5 - 40 days	Varies by province	As little as 15 minutes with INTERAC e-Transfer	BC, NL, NS, ON, SK	Apply for your first $300 payday loan at a $20 cost (excludes SK applicants).	Have your banking details ready to get a loan in 2 hours. You'll need to be 18 years of age or older and have a net income of at least $1,000/month. Residents of MB and NB must apply in-store for a loan.	Go to site View details	Compare	loading Fetching your data...
iCASH Payday Loan iCASH Payday Loan		$100 - $1,500	7 - 62 days	Varies by province	As little as 2 minutes with INTERAC e-Transfer	AB, BC, MB, NB, NS, ON, PEI	Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.	To be eligible, you'll need to be at least 19 years of age and have a net income of at least $800/month deposited into your bank account.	Go to site View details	Compare	loading Fetching your data...
GoDay Payday Loan GoDay Payday Loan		$100 - $1,500	Up to 62 days	Varies by province	As little as 2 minutes with INTERAC e-Transfer	AB, BC, MB, NB, NS, ON, PEI, SK		To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.	Go to site View details	Compare	loading Fetching your data...

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How does 24/7 loan application processing work?

Online and storefront lenders that operate 24/7 can provide loans will accept applications any time of the day or night. When you apply in person at a store, you can often have your money in under an hour. If you’re looking for online payday loans, many lenders advertise the e-Transfer of funds within less than an hour too. Keep in mind, however, that your bank account might not show the funds until the next business day.

Payday loans are normally due in full on your next payday, whether that is 1 week, 2 weeks or a month from the time you receive it. Interest rates, maximum loan amounts and repayment terms vary between lenders, provinces and your personal financial situation including your income.

What if I need a payday loan on the weekend?

Remember, that not all online lenders offer instant approval. And even some that do may send funds through slower means. So, before you sign any loan agreement, check with your lender to verify the processing time and transfer speed.

Alternatively, you can apply for a loan in person at a physical branch, where you might be able to leave with your loan money right away or within a couple of hours. Some lenders even offer payday loan money on prepaid debit cards. If you already have a prepaid debit card that’s eligible to use, you could simply load the card when you need access to additional money.

Are payday loans available in every province and territory?

Payday loans are available in all provinces and territories across Canada. You should be aware that payday loans are regulated by individual provinces, which means fees and maximum loan amounts can vary. Ensure that any lender you choose abides by the laws of the place you live.

As of January 2019, the Yukon, Nunavut and the Northwest Territories do not have legislation regulating payday loans at the territorial level. Payday loans are regulated in these territories at the federal level only.

How much does a payday loan cost?

Depending on where you live, either federal or provincial regulations determine the maximum amount payday loan providers can offer.

Hover over your province in our interactive map to see if payday loans are regulated on the provincial or territorial level and the maximum cost per amount borrowed – darker shades correspond with a higher cost.

How to compare payday loan lenders

When you need money in a hurry, even a bad deal can look good. Be sure to compare lenders in order to find a competitive loan that suits your financial needs. Here are some things to consider when comparing your options:

• Lender options. With a direct lender, you apply directly with the lender, whereas as loan-matching service will take your application and match you with one of the lenders in its network.
• Processing time. If you’re looking to get your cash quickly, make sure to find a lender with one of the faster processing times, as some take only a few hours while others can take a few days.
• Fees. Despite many provinces imposing regulations on the interest rates that can be charged for payday loans, some loans can have excruciatingly high APRs. Be sure to read through the terms and conditions of the loan completely so that you’re not blindsided by an fees later in the process.
• In store network. If you’re applying online and want your funds on the same day, you may be able to find an online service with a physical store in your area. Some lenders will allow you to apply online and pick up your funds in person.

Check the websites of any lenders you’re interested in to confirm they operate in your province of residence.

Pros and cons of 24/7 payday loans

Bottom line

Payday loans can be very expensive, so if you decide to get one, make sure you can afford repayments first. If you don’t think you can handle repayments, check out alternative ways of getting cash or cutting down on your expenses such as getting an installment loan or consolidating your debt.

Check out this guide to learn more about getting a cash loan even if you have bad credit.

Frequently asked questions

• Are there lenders that can e-Transfer payday loans in Canada 24/7 with no credit check?

  Payday lenders will often take a look at your credit score so they can see whether you have been paying back your debt on time. A bad or poor credit score does not necessarily mean you won’t get approved for a payday loan because payday lenders will also consider other factors such as your employment income, employment history and amount of debt. If you encounter lenders who can e-Transfer payday loans 24/7 with no credit check, consider very carefully whether you should take out a payday loan, because you can easily get trapped in a cycle of debt. Payday loans should always be a last resort – whether a credit check is involved or not.

• How quickly can I complete an application for online payday loans?

  Usually, a payday loan application only takes about 5 minutes to complete online or in person a store, as long as you have the necessary information on hand.

• What is the eligibility criteria for a payday loan?

  You should be 18 years of age, or the age of majority in your province or territory, as well as a Canadian citizen or a permanent resident with a valid Canadian address. Additionally, you will likely need to have proof of an income and a working bank account.

• Why does the lender need my bank account information?

  If you apply for and accept an online payday loan, the lender will need your bank account details in order to send you the loan. They will also likely set up an automatic repayment schedule through direct debit from your bank account, which means you don’t have to worry about making the repayments yourself since they will be automatically withdrawn from your bank account.