Bree review

Our verdict

Our verdict

Bree offers cash advances of up to $150 to help you avoid bank account overdraft fees. It's quick and easy to apply for a Bree cash advance online within minutes, and you don't need to complete a credit check. You also won't pay any interest on the amount you borrow. However, be aware that you'll need to pay a fee if you want fast access to your funds, and Bree also charges a monthly subscription fee for its budgeting tool.

Best for: People who need a small loan with no interest and no credit checks.

Pros

• Easy to apply
• 0% interest
• No late fees
• No credit check required

Cons

• Monthly membership fee for its budgeting tool
• A fee applies if you want an instant transfer
• You'll need to connect your bank account to the Bree app
• Small loan amounts won't suit everyone
• New company with limited reviews

Bree is not currently available on Finder

Have you considered Cash Money Payday Loan?

Instant decision and e-Transfer funding. Income of at least $1,000/month required.

• Special offer on 1st loan
• Borrow $100 - $1,500
• APR & loan term vary by province

Learn more

No thanks, compare other loans options.

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Loan Amount

$10 - $150

Interest Rate

0%

What is Bree?

Bree is a Y Combinator startup that was founded in 2021. It offers interest-free cash advances to help you avoid bank overdraft and NSF fees when you get low on funds. Bree says its mission is to help Canadians move towards financial wellness.

Is Bree legit?

Bree is based in Vancouver and has LinkedIn and Crunchbase profiles. Its website also features the usual legal documents you’d expect to find on a legitimate business website, such as a privacy policy and detailed terms of use. However, we can’t find them registered in the BC database or the Canada business database.

As a new provider, it only has a very limited number of Facebook reviews, but the reviews that do exist are mixed.

How does borrowing from Bree work?

The first step to borrowing a cash advance from Bree is to sign up. You can do this online by providing your personal information and bank account details. A monthly subscription fee of $2.99 for its budgeting tool applies.

However, Bree’s terms of use state that you can also access an advance without a Bree membership. You’ll need to get in touch with Bree via email to request an advance without a membership.

You can apply for an advance of up to $10. If you request a Standard advance, the money will be in your account in less than three business days. But if you need cash fast, you can request an Express advance – for a small fee – to ensure that the money arrives in less than eight hours. The fee for an Express advance varies depending on the size of your loan:

• $15.00 to $20.00: $1.99
• $20.01 to $74.99: $3.99
• $75.00 to $99.99: $6.99

Bree doesn’t charge any interest on the amount you borrow and there are no late fees. You can repay your advance in one installment, and you nominate the repayment date when you apply for an advance. However, it’s worth noting that Bree’s terms of use state that it reserves the right to charge your linked account or debit card for repayment any time after there is evidence of income (such as a paycheque) into your linked account.

Bree app features

What we like about Bree

• No interest. Bree does not charge any interest on the money you borrow. This means it could be a much more cost-effective borrowing option than a payday loan.
• No late fees. Bree doesn’t charge any late fees if you don’t repay what you borrow. There’s no fee when you take out an advance, but you may be asked if you’d like to leave a voluntary tip.
• No credit checks. You won’t need to complete a credit check when you apply for a Bree advance, so you don’t have to worry about it impacting your credit score.
• Easy to apply. The Bree sign-up process is quick and easy. You can apply online within a few minutes.
• Fast funding available. Same-day funding is available if you’re willing to pay a small fee. The money can be sent to your account via e-Transfer.
• Other membership features. As a Bree subscriber, you get access to a budgeting tool you can use to track your income and expenses. You also receive a weekly newsletter with tips to help you manage your finances.

What to watch out for

• Monthly subscription fee. If you sign up for a Bree membership, you’ll need to pay a subscription fee of $2.99 a month. However, as mentioned above, you can contact Bree via email if you’d like to receive an advance without subscribing to Bree.
• Fees for fast transfers. If you want to get your advance within eight hours, a fee of $1.99–$6.99 will apply. Otherwise, it could take up to three business days until you get funded.
• New company. Bree was launched in 2021, so it’s a very new company with limited customer reviews.
• Small amounts. The maximum cash advance amount available is $100, which may not be enough for your needs.
• No phone number. Need to get in touch with Bree? There’s no phone number listed on the website, so you’ll need to contact them via email.

Summary of Bree reviews

As Bree is a relatively new service, there are very limited online reviews from previous customers. It has a handful of mixed reviews on Facebook, but the number of reviews is too small to draw any firm conclusions.

Alternatives to Bree

Payday loans have easier eligibility requirements and let you borrow higher loan amounts. However, they are generally more expensive and are only suitable as a last resort.

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Am I eligible to borrow from Bree?

You won’t need to undergo a credit check to qualify for a Bree cash advance, but you will need to meet the following requirements:

• 18 or older (or the age of majority in your province)
• Legal resident of Canada
• Have an active chequing account
• Have recurring income from employment or a government benefit
• Minimum three consecutive paycheques from one source deposited into your account
• Minimum 100 transactions in your account
• A Visa or Mastercard debit card that matches your account

Bree will examine the last two to three months’ worth of transactions from your bank account to check three things:

• That you receive your paycheques as direct deposits
• That you’ve received paycheques on consistent dates
• That you will have enough funds after your next paycheque to repay your advance

How to sign up for a Bree loan

Here’s what you need to do to apply for a Bree cash advance:

1. Visit the Bree website and click the “Sign up” link.
2. Create an account by providing your name, email address, phone number and date of birth.
3. Complete the sign-up process by verifying your bank account details.
4. Confirm the date on which you will pay back your advance.
5. Check whether you want a free Standard advance or an Express advance for a fee.
6. Submit your application. If you’re approved and you’ve selected an Express advance, the funds will be sent to you via e-Transfer.

Frequently asked questions

• Do I need to tip Bree for my advance?

  No. Bree says that tips are optional, so you can choose to pay a tip to the provider if you're happy with its cash advance service.

• Will a Bree cash advance affect my credit score?

  No. Bree doesn't perform a hard or soft credit check when you apply for an advance, so it won't have any impact on your credit score.

• How quickly can I get a cash advance with Bree?

  You can get your funds the same day. The online application process can be completed within minutes, and if you're willing to pay a fee of $1.99–$6.99, the advance will be in your account within eight hours.

• What is the maximum cash advance amount available from Bree?

  The maximum you can borrow with a Bree cash advance is $150.