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Cash Money Payday Loans review

Cash Money allows you to borrow amounts up to $1,500 online, in-person or over the phone.

To be eligible, you must be at least 18 years old with recurring income and a chequing account. Cash Money is flexible with its income requirements and accepts many types of non-employment income. However, in Manitoba, Cash Money does not accept social assistance.

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$100 - $1,500

Loan Amount

5 - 40 days

Loan Term

Varies by province

Interest Rate


Product NameCash Money Payday Loan
Special PromoLoan discount on your very first $300 payday loan at $20 borrowing cost (excludes Saskatchewan).
Interest RateVaries by province
Loan Amount$100 - $1,500
Loan Term5 - 40 days
Turnaround TimeAs little as 15 minutes with INTERAC e-Transfer
Credit Check
How to ApplyOnline, In Store
Go to site
More Info

Cash Money offers payday loans of up to $1,500, which you can apply for in-store, online and over the phone. Upon approval, your loan is transferred over to you within 15 minutes via Interac e-Transfer or immediately in a Cash Money store. Always keep in mind, payday loans are high-cost loans, although they do offer the convenience of access to fast cash.

30-second take

Sometimes you need an emergency injection of cash and a payday loan could save the day. Here’s what to keep in mind with Cash Money Payday Loans:

  • Think of a Cash Money Payday Loan if you prefer to apply in-person or over the phone. While some payday lenders exist exclusively online, Cash Money has customer service readily available in-store, over the phone and online.
  • Pick something else if you need a loan that’s more than $1,500 or if you can’t repay the loan within 40 days. Payday loans are meant to cover a cash shortfall until your next pay, and in most provinces, payday lenders can’t extend or roll over your payday loan.
  • Keep in mind, Cash Money Payday Loans aren’t available in Alberta, Quebec, Newfoundland, Prince Edward Island, Yukon, Nunavut and the Northwest Territories.

Our take on Cash Money Payday Loans

If you find yourself in a financial emergency without the help of a traditional lender, Cash Money may be a suitable option to gain access to funds quickly. Cash Money makes it easy to apply for a payday loan online, in-store or over the phone. Once you’re approved, your loan is transferred to you within 15 minutes via Interac e-Transfer.* You can even pick up your funds immediately at a Cash Money store or have the money instantly loaded onto an Opt+ Prepaid Mastercard.

Payday loans are expensive

Keep in mind, Cash Money Payday Loans, and payday loans on a whole, come with some of the steepest interest rates around, especially compared to conventional personal loans. Expect to pay between $15 and $21 per $100 borrowed, depending on the province you live in.

They’re genuinely meant to cover a short-term cash shortfall until your next paycheque, so loans need to be repaid within 5 - 40 days. If you can’t pay your payday loan back on time, you’ll incur more fees and interest charges. This is what makes payday loans a risky band-aid solution.

⚠️ Warning: Be cautious with payday loans
Payday loans are expensive. 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). Consider payday loan alternatives:
  • Visit A free and confidential service that connects you to organizations that can help with finances, food, housing and more.
  • Debt relief companies. There are services to help you reduce your debt payments.
  • Payment extensions. Talk with bill providers about longer payment plans or due-date extensions.
  • Side jobs. Sell unwanted items online, sign up for food delivery and more.

Compare payday loans

Take a look at your payday loan options and how they compare:

1 - 2 of 2
Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces Offer Table description
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer
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.
iCASH Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer
Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.
24/7 instant approval and e-Transfer funding. Income of at least $800/month required.

What provinces and territories are Cash Money Payday Loans available in?

If you’re considering a Cash Money Payday Loan, your best bet is to start by ensuring it services your province or territory. Here’s where Cash Money Payday Loans are available:

ProvinceLoan amount/termsHow to apply
B.C.$1,500/up to 40 daysOnline, in-store or over the phone
Manitoba$1,500/up to 40 daysIn-store only
New Brunswick$1,500/up to 40 daysIn-store only
Newfoundland$1,500/up to 40 daysOnline, in-store or over the phone
Nova Scotia$1,500/up to 40 daysOnline, in-store or over the phone
Ontario$1,500/up to 40 daysOnline, in-store or over the phone
Saskatchewan$1,500/up to 40 daysOnline, in-store or over the phone
Cash Money Payday Loans aren’t available in the following provinces or territories:

  • Alberta
  • Quebec
  • Prince Edward Island
  • Yukon
  • Northwest Territories
  • Nunavut

What are the benefits of a Cash Money Payday Loan?

Despite the exorbitant charges you’ll pay for a payday loan, Cash Money comes with some perks, including the following:

  • Easy application process. You can apply for a loan online, in-store or over the phone, depending on the province you live in. In provinces where online lending is offered, the entire process can be completed from the comfort of your home.
  • Fast access to funds. If approved, you can get your money in as little as 15 minutes with Interac e-Transfer.* You can also pick up your cash immediately in a Cash Money store, or if you have an Opt+ Prepaid Mastercard, you can get your cash instantly loaded onto your card.
  • Fast decisions. Cash Money can generally provide a lending decision on the day of application.
  • Customer service options. Customer service is readily available in person, online or over the phone.

What to watch out for

Across the board, consumers need to be wary of payday loans. And for good reason – here’s why Cash Money Payday Loans should be used as a last resort:

  • Steep charges. Cash Money will charge you a fixed amount per $100 borrowed (from $15 to $21 per $100 borrowed, depending on your province of residence). To put it into perspective, a payday loan that costs $17 per $100 is the same as an annual interest rate of 442%.
  • Loan terms. Watch out for short loan terms to the tune of up to 14 days – your next payday, essentially. Cash Money says the longest terms are capped at 40 days.
  • Not available in all provinces and territories. You won’t find Cash Money payday loans in Alberta, Quebec, Newfoundland, PEI, Yukon, Nunavut and the Northwest Territories.

How much will a Cash Money Payday Loan cost?

It’s important to understand the cost of any financial product. You need to make sure you know what you will pay to borrow the loan and what you might pay if you’re late with your repayments. Cash Money will charge you a fixed amount per $100 borrowed – from $15 to $21 per $100 borrowed, depending on your province of residence.

Here’s a closer look:

Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs as they may vary from our results.
Province Maximum allowable cost of borrowing
Alberta, British Columbia, New Brunswick, Ontario & PEI $15 per $100 borrowed
Manitoba, Saskatchewan & Nova Scotia $17 per $100 borrowed
Newfoundland and Labrador $14 per $100 borrowed
Northwest Territories, Nunavut & the Yukon Up to $60 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)
You may come across extra fees during the lifetime of your loan, especially if you make missed or late payments, a cheque bounces or you have insufficient funds in your bank account. These charges will vary depending on the province you live in.

Is Cash Money legitimate?

Sky-high charges aside, Cash Money is a legitimate lender and established business dating back to 1992. It has helped more than 595,850 Canadians with their short-term cash needs, and it has hundreds of store locations in most of Canada.

It’s also a Canadian Consumer Finance Association member, so you can trust that Cash Money is adhering to federal best practices and regulations.

Find out about payday loans and compare different providers

Am I eligible?

To be eligible for a Cash Money Payday Loan, you must meet the following criteria:

  • Be at least 18 years old.
  • Have an open chequing account in your name. You will need to provide your branch transit number, financial institution number and your bank account number.
  • Have proof of recurring income. You will need to provide your gross and net monthly income, pay cycle frequency, hire date, employer name and phone number.
  • Have a working telephone number.
  • Have a valid email address.

How do I apply for a Cash Money Payday Loan?

If you’re ready to apply for a Cash Money Payday Loan, follow these steps:

  1. Click the “Go to site” button to go to the Cash Money homepage and click “Continue”.
  2. Select your province, then the payday loan option and click “Next”.
  3. Fill in the prompts to create an account, including your email address, password and security question and answer.
  4. Once you’ve created your account, fill in the personal loan application. It shouldn’t take more than 10 minutes to complete. Provide your full name, contact information including your address and phone number, employment status, monthly income and credit score.
  5. Once you submit your application, you need to verify your income before receiving a lending decision. Provide information that documents your income either by using the online application portal, by directly emailing customer support or by faxing your documents. If you’re applying in person, you can provide this paperwork at a local Cash Money branch.
  6. Cash Money will review your information and provide you with a lending decision within a business day, if not faster.
  7. If you’re approved, you can either pick up your cash at a store immediately in person or request an Interac e-Transfer, which will be sent within the hour. You will receive the full amount of your payday loan.

If you prefer to apply over the phone, you can also do so at 1-877-526-6639.

What documents do I need to apply?

After you apply for a loan, whether in person, online or on the phone, you will need to verify your identity and application details. You may be asked to provide the following:

  • Identification. You will need to provide either a Canadian driver’s licence, passport or birth certificate.
  • Verification of income. You’ll need to demonstrate your ability to make repayments by providing proof of employment and bank statements illustrating reliable income.

I got the Cash Money Payday Loan. Now what?

Once you’re approved for a Cash Money Payday Loan, you will receive your funding within the same business day of your approval. The loan, which is capped at $1,500, will come as a lump sum provided directly to your bank account via Interac e-Transfer or in cash if you prefer to pick up your loan in person.

When you’re approved for your loan, your repayment due date will be determined. It’s usually set for your next payday, whether that’s in 1 week or 1 month. Typically, it’s about 2 weeks later, but Cash Money says loan terms cap out at 40 days.

Mark your due date on your calendar and make sure you have sufficient funds in your bank account to cover the full repayment of the loan. Cash Money makes it easy to repay your loan by paying with cash, debit or a post-dated personal cheque.

Payday loan extensions aren’t legal in most provinces, so Cash Money can’t roll over your payday loan. You’ll also face extra charges and penalties for not making your repayment on time, making your loan more expensive to pay off. This is why borrowers should be wary of getting stuck in a debt trap.

If you are facing unavoidable circumstances and you can’t pay off your loan, Cash Money says you should contact its Customer Relations team at 1-877-526-6639.

Bottom line

Cash Money is one of the biggest providers of payday loans in Canada, with options to apply online, in person or over the phone, making it easy for you to get quick access to funds if you’re in a sticky situation.

Tread carefully, though. While a payday loan may bail you out of a financial emergency, if you don’t have the funds to repay the loan on time, it could cause you more financial hardship in the long run.

Do your homework on your loan options. If you have a strong credit score, you can also consider personal loans on offer from banks, credit unions and online lenders. You can also look into secured loans if you’re willing to put up an asset as collateral. Both of these options may provide you with lower interest rates and better terms.

Frequently asked questions about Cash Money

*Get funds with INTERAC e-Transfer® in 2 hours or less if approved. Subject to system limitations and bank funding times.

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