Payday loans open 24 hours

If you need cash to cover essential expenses and to see you through to your next paycheque, you might be considering a payday loan. Not only can you access the money you need within minutes via e-Transfer, but you can also find payday loans open 24 hours in Canada.

However, watch out for high interest rates and very short loan terms with these loans and make sure you’re dealing with a legitimate lender before you apply.

Compare online payday loans open 24 hours

Loan provider	APR	Loan amount	Loan term	Served provinces
	Varies by province	$100 – $1,500	7 - 62 days	AB, BC, MB, NB, NS, ON, PEI	Go to site
	Varies by province	$300 – $1,500	Up to 62 days	ON, BC, NS	Read review
	Varies by province	$100 – $1,500	Up to 62 days	AB, BC, MB, NS, ON, SK	Read review

Which payday lenders have store locations open 24 hours?

Heading in-store to apply for a payday loan? The following lenders have some branches open 24 hours.

• Pay2Day. Pay2Day operates over 30 locations, but only four Ontario locations in Toronto, Brampton and Cambridge are open 24 hours a day. You’ll need to provide proof of employment income and your bank account details to qualify for a loan.
• Cash Money. A selected range of Cash Money locations are open 24 hours a day. Use the Find a Store feature on Cash Money’s website to find your nearest location. You’ll need a chequing account, a source of income, proof of ID and a working phone number to apply.

How do payday loans open 24 hours work?

Payday loans open 24 hours in-store

If you want to apply for a payday loan in-store, visit the lender’s nearest location in person. You’ll need to take the following documents with you to get approved:

• Proof of ID, such as your driver’s licence
• Proof of income, such as a pay stub
• Proof of your bank account details, such as a bank statement
• References (depending on the lender)

If needed, you can receive your loan amount as cash. However, some payday lending stores can also use an Interac e-Transfer to send the money directly to your bank account.

Payday loans open 24 hours online

Applying for a payday loan online is easy, and you can do it 24/7. You’ll need to fill out a form on the lender’s website or mobile app with the following information:

• Your name, address and contact details
• Your bank account details (branch transit number, financial institution number and your bank account number)
• Details of your income and employment

Many payday lenders use instant bank verification to view your bank statements online, check your income and verify your identity. This allows you to apply without scanning and uploading physical documents, which speeds up the approval process.

If approved, you can then review and sign the loan contract. The funds will then be sent to your account via e-Transfer, so regardless of the time of day, you should receive the money within minutes.

Can you apply and get a payday loan on a weekend?

Yes, it’s possible to apply and get a payday loan on a weekend both in-store and online. If you’d like to apply in-store, do your research to find a payday lender with branches near you that are open on the weekends. You can then take all the required documents to the store, fill out an application form, get approved and get your funds in cash or as an e-Transfer.

If you’re applying online, there are multiple online lenders that accept and approve applications 24/7. Make sure the lender you choose offers instant decisions and that they also provide e-Transfer payday loans to ensure that you get fast access to the loan amount.

For more information, check out our guide to weekend payday loans.

Tips to get a fast payday loan

There are several simple things you can do to ensure that your loan is approved as quickly as possible:

• Get your documents ready. If you’re applying in-store, make sure you take all the necessary documents with you when you go. Check what documents the lender requires ahead of time – such as proof of ID, bank statements and pay stubs – so that you’re fully prepared.
• Verify your bank account online. If you’re applying online, get ready to verify your bank account via instant bank verification. By providing your bank account details, you allow the lender to view your account (but not access the funds in it) so they can assess your ability to repay a loan. This speeds up the application process.
• Prepare references. If you’re applying online, some lenders will ask you to provide character references to prove your identity and confirm your contact details. They may also apply for a reference from your employer to check your employment status, so prepare any references before you apply.
• Choose a 24/7 lender. There are some situations when your payday loan application isn’t straightforward, such as if you’ve just started a new job, moved house or have unpredictable income. If that’s the case, your application may take longer to assess and need to be manually reviewed, so make sure you apply to a payday lender with staff operating 24/7.
• Check for errors. Before you submit a payday loan application, review all the details you’ve supplied to check for any errors. A simple mistake such as a typo in your name or address can result in your application being automatically rejected.

Do you need to go through a credit check with 24/7 payday loans?

It depends on the lender. Some payday lenders do credit checks, while others don’t. Those who don’t will focus on whether you can afford to repay the loan. They’ll check to see whether you have a stable recurring income and whether that’s from employment, government assistance or a private pension.

Pros and cons of 24/7 payday loans

How to compare payday loans open 24 hours

Consider the following factors when comparing 24/7 payday loans:

• Lender’s credentials. To avoid disreputable lenders, do your research to make sure the lender has a payday lending licence in your province and abides by all local regulations. You can also look for factors such as BBB accreditation and read reviews from other borrowers on independent review websites.
• APR. The annual percentage rate shows you how much the payday loan would cost in a year. So when you want to work out how the cost of one loan compares to another, use the APR for a fair comparison.
• Fees. Don’t forget to also check the fine print for details of any other fees that are not included in the APR, such as NSF and late payment fees.
• Loan term. The maximum payday loan term is 62 days, but it’s often much shorter. If you’re not in Alberta, you’ll likely have to repay the full amount by your next payday. Consider whether you’ll have enough cash left over to cover your essential expenses.
• Online or in-store. Check whether you can apply online, in-store or whether the lender offers both options. If you’re applying in-store, does the lender have convenient locations near you?
• Required documents. Check the lender’s website or give them a call to find out what documentation you’ll need to provide when applying for a loan. Along with proof of ID, you may also need to supply bank statements, pay stubs and references.
• Processing time. Find out how long it will take you to apply, get approved and get the money from the loan. In some cases, it’s possible to access the funds you need in less than an hour.
• How you receive cash. If fast access to funds is a must, check whether the lender offers cash pick-up in-store or payment via Interac e-Transfer.

Frequently asked questions

• Can you get a guaranteed approval payday loan?

  No. A lender will need to assess your income and ability to repay a loan before providing approval. Steer clear of any lender that promises guaranteed approval – this is a warning sign that could indicate a loan scam.

• Why do I need to provide references when getting a payday loan?

  You need to provide references when getting a payday loan to prevent fraud. The lender can use references to confirm details such as your identity, address, contact details and employment.

• Why does the lender need my bank account details?

  Many online lenders will ask for your bank account details so they can complete the instant bank verification process. This allows them to access an electronic copy of your bank statements and assess your ability to repay the loan, speeding up the approval process.

• What are the requirements to apply for payday loans open 24 hours?

  While the exact requirements vary between lenders, you will generally need to meet the following criteria:

  • Be 18 years of age or older (or the age of majority in your province)
  • Be a Canadian citizen or permanent resident
  • Have a valid Canadian bank account
  • Provide proof of ID
  • Provide proof of income