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Apple Cash Loans review

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Apple Cash Loans
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Our verdict

Apple Tree Cash says it offers fast payday loans, but we're not signing off on its legitimacy.

This review is on applecash.ca and appletreecash.com. Apple Tree Cash claims to offer fast online payday loans seven days a week. It says you can apply, get approved and get funded within minutes, giving you emergency cash when you need it. However, there are several factors you should be aware of before you consider applying for a loan.

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Is Apple Tree Cash legitimate?

We’re not signing off on Apple Tree Cash’s legitimacy for several reasons. Our research into the lender and perusal of its website turned up the following issues and concerns:

  • Not a licensed payday lender. We couldn’t find Apple Tree Cash listed in the business licence databases of provinces like Ontario, Alberta and British Columbia. If you’re searching for a payday lender, you should always make sure it’s properly licensed in your province.
  • Not registered. We couldn’t find Apple Tree Cash listed anywhere in Canada’s Business Registries.
  • Does not follow payday loan regulations. Apple Tree Cash doesn’t disclose details about the total cost of borrowing on its website, even though there are specific payday loan regulations about how this information should be disclosed. It also doesn’t display its licence number on its website.
  • Underdeveloped website. There’s limited information on both Apple Tree Cash websites. Spelling and grammatical errors are also present.
  • Lists two different addresses. The applecash.ca website lists an address in Niagara Falls, NY, in the United States. This address is also listed on the websites of two other payday lenders of questionable legitimacy, Planet Loan Inc and Faxless Payday Loan, and is the address of a UPS store rather than a physical business address. Meanwhile, the appletreecash.com website lists an address in Cumberland Street, Toronto.
  • Shares a phone number with other lending companies. The phone number listed on Apple Tree Cash’s two websites is the same number listed on the sites of Planet Loan Inc and Faxless Payday Loan.

Loans like Apple Tree Cash loans

Searching for a payday loan from a legitimate lender? Check out these alternatives.

⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
1 - 3 of 3
Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces Offer Table description
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.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. 24/7 instant approval and e-Transfer funding. Income of at least $800/month required.
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, NT, ON, SK, YT
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.
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer®
BC, MB, NL, NS, ON, SK
Apply for your first $300 payday loan at a $20 cost (excludes SK applicants).
Instant decision and e-Transfer funding. Income of at least $1,000/month required.
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Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $17 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

What do reviews say about Apple Cash Loans?

There are limited reviews available for Apple Tree Cash. However, it is not accredited by the Better Business Bureau and has a BBB rating of F. Apple Tree Cash has a score of 1 out of 5 from a single customer review, and the bureau has closed five complaints against the business in the three years prior to writing.

It’s also worth mentioning that Planet Loan Inc, with which Apple Tree Cash shares an address and phone number, is also not accredited by the Better Business Bureau. The BBB gives Planet Loan Inc an F rating and had received over 50 complaints about the business in the previous three years. Planet Loan Inc has an average rating of 1 out of 5 from seven reviews on the Better Business Bureau website.

What is the Apple Cash application process like?

Apple Cash will ask you to provide the following sensitive information:

  • Your name
  • Your SIN/SSN
  • Your email address, home address and phone number
  • Your date of birth
  • The loan amount and loan period you want
  • Your bank account details
  • Your online banking password

The lender claims that you can have your application approved within minutes and take advantage of same-day funding.

How to find a legitimate payday lender

There are several simple things you can do to ensure that you only ever deal with legitimate lenders:

Make sure they’re licensed.

Check to see whether the lender has a payday lending licence in your province. You can do this by contacting the consumer affairs office in your province or territory.

Check that they abide by payday lending regulations.

The consumer affairs office in your province or territory can also provide information about the payday lending regulations where you live. If you find a lender that doesn’t follow these rules – for example, if the cost of borrowing is higher than the maximum limit in your province – consider other options instead.

Read reviews.

Don’t rely on customer testimonials on a lender’s website. Head to an independent review website to find out about the experiences other borrowers have had with the lender.

Keep an eye out for red flags.

Be on the lookout for any signs that may indicate you’re dealing with a scammy lender. These can include the following:

  • Not being transparent about the total cost of a loan.
  • No physical address and uncontactable by phone.
  • Promising guaranteed loan approval.
  • Charging an upfront fee.
  • Making offers that sound too good to be true.

Find out more in our guide to avoiding payday loan scams.

Bottom line

If you’re searching for a payday loan, we recommend looking elsewhere. Our research into Apple Tree Cash raised a number of issues and concerns, so we don’t feel confident signing off on the legitimacy of this provider.

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