Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

E-transfer payday loans in Canada

Browse this list of licensed lenders that can e-transfer payday loans in Canada fast, including 24/7.

If you’re facing a financial emergency, applying to online lenders that e-transfer payday loans in Canada is one of the fastest ways to borrow money. Online payday lenders give rapid approval and funding – sometimes 24/7 – but with sky-high interest rates and incredibly short repayment terms, consider all alternatives before you apply for e-transfer payday loans.

⚠️ 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:
  • Local resources. Government programs and nonprofits offer free financial services and help with food, utilities and rent.
  • 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.

Lenders that e-transfer payday loans in Canada

Here’s a breakdown of lenders that provide e-transfer payday loans in Canada, including those that offer it 24/7. We visited several licensed payday loan sites. We also included the types of non-employment income they accept, such as child tax credit, employment insurance, disability and social assistance.

Payday lenderLoan detailsE-transfer detailsNon-employment income it acceptsServiced provinces
iCASH
  • Loan amount: $100 – $1,500
  • Loan term: 7 – 62 days
  • Interest rate: Varies by province
E-transfer 24/7 in as little as 2 minutes.Many types, such as child tax, EI, ODSP, provincial disability, CPP, OAS, social assistance, pension and moreAB, BC, MB, NB, NS, ON, PEIGo to site
cash money
  • Loan amount: $100 – $1,500
  • Loan term: 5 – 40 days
  • Interest rate: Varies by province
E-transfer in as little as 15 minutes.Many types, such as unemployment, disability, child tax credit and moreBC, NL, NS, ON, SKGo to site
Picture not described
  • Loan amount: $120 – $1,500
  • Loan term: 1 – 62 days
  • Interest rate: Varies by province

No credit check required.

E-transfer 24/7 in 2 hours.Many types, such as child tax credit, EI, disability, pension and more. Money Mart only says you need steady income.AB, BC, MB, NS, ON, SK
Goday
  • Loan amount: $100 – $1,500
  • Loan term: 1 – 62 days
  • Interest rate: Varies by province

E-transfer 24/7 in as little as 2 minutes.Child tax credit, disability tax credit, OAS, private pensions and CPPAB, BC, MB, NB, NS, ON, PEI, SK

Read review

myCanadapayday.com logo
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Interest rate: Varies by province
E-transfer 24/7 in 15 minutes.Disability, pension, child tax benefitAB, BC, MB, NS, ON, SK

Read review
Mr. Payday
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Interest rate: Varies by province
E-transfer in as little as 1 hour.CPP, private pension, EI, WCB, child tax credit, non-government disability benefits; does not accept disability income from the governmentAB, BC, ONRead review
payday loan
  • Loan amount: $300 – $1,500
  • Loan term: Up to 62 days
  • Interest rate: Varies by province
E-transfer 24/7 in 1 to 2 hours.EI, CPP, OAS, child tax credit; does not accept social assistance or disability income.ON, BCRead review
payday loan
  • Loan amount: $200 – $1,500
  • Loan term: Up to 62 days
  • Interest rate: Varies by province
E-transfer in as little as 30 minutes.EI, child tax credit, CPP or private pension (must be paid via direct deposit)BC, AB, SK, NSRead review
Loan Express
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Interest rate: Varies by province
E-transfer within 5 minutes.Child tax credit, CPP, private pension and disability income; does not accept EI or CERB.AB, BC, MB, NB, NL, NS, ON, SK, YK, NT, NWTRead review
Focus Cash Loans
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Interest rate: Varies by province
E-transfer in 30 minutesCPP, private pension, EI, WCB, child tax credit, non-government disability benefits (government disability income not accepted)AB, BC, ONRead review
Maximum borrowing costs 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 & Prince Edward Island $15 per $100 borrowed
Manitoba, Saskatchewan & Nova Scotia $17 per $100 borrowed
Newfoundland and Labrador $21 per $100 borrowed
Northwest Territories, Nunavut & the Yukon Up to $60 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)

How do e-transfer payday loans work?

Payday loans are loans of up to $1,500 that are typically repaid on your next payday. Once a lender approves you for a payday loan, one of the ways it can send you the money is through e-transfer, which can often be done 24/7 outside of business hours. The lender will email or text you an e-transfer link so you can deposit the money into your bank account. You’ll need to be registered for e-transfer with your bank.

What are e-transfer payday loans in Canada 24/7?

Many payday lenders advertise their e-transfer payday loans and 24/7 convenience, but what do they actually mean? We break down the 3 stages of getting a payday loan below and how they can affect turnaround times.

Application

Payday loan applications are available online 24/7, and you can apply any time 24/7.

Approval

This is where the process might slow down, depending on your application. If you go through bank verification, which is an automated step to verify your identity and financial details, you can get instant approval. If you don’t opt for bank verification or there are parts of your application that need a closer look, the lender will need to do a manual review. If the payday lender doesn’t have staff that manually reviews applications 24/7, you’ll have to wait until their office is open to get approval.

Funding

Once you’ve been approved and you’ve signed your contract, lenders can e-transfer the money to you within minutes. They usually have an automated system for this. So if you submit your signed contract in the middle of the night and the office is closed, the payday loan will still be e-transferred to you within minutes.

Customer support for e-transfer payday loans in Canada 24/7

If e-transfer payday loans in Canada 24/7 are important to you and there’s a chance your application will need a manual review, you may want to apply to lenders that have staff operating 24/7, because not all of them have this. iCash and Pay2Day are examples of lenders that have 24/7 online customer service.

Below are a few reasons why your application may need a manual review:

  • You have a new job.
  • You recently changed your address.
  • There are errors on your application (for example, the address attached to your bank account doesn’t match what’s on the loan application).

Can I get e-transfer payday loans in Canada 24/7 with no credit check?

Yes, but make sure you apply to a legitimate payday lender. Legitimate payday lenders that offer e-transfer payday loans in Canada 24/7 with no credit check will evaluate the stability of your income by looking at your bank statements and/or pay stubs. They will also meet the following criteria:

  • They’re licensed to operate in your province.
  • They follow payday loan regulations (for example, they’re transparent about fees).
  • Their website is secure.
  • They don’t guarantee you’ll get approved.

Money Mart is an example of a legitimate lender that e-transfers payday loans in Canada 24/7 with no credit check.

What to consider before applying for e-transfer payday loans in Canada

The market is flooded with payday lenders. To help you narrow your scope, here’s what to consider:

  • How long does it take to process the loan? Some of the best payday loans ensure that you’re approved instantly and receive your e-transfer link 24/7 right after you submit the signed contract. But there are some cases where you may not get an instant decision – for example, if you’re a first-time borrower or if the lender requires more information about you.
  • Are you aware of all the fees? Take the time to find out just how much you’ll have to pay in fees. Depending on where you live, you can pay between $15 to $25 for every $100 borrowed, making e-transfer payday loans one of the most expensive ways to borrow in Canada. If you miss the payment deadline, you will encounter late fees and NSF fees, too.
  • Does the lender accept bad credit applications? If you’re looking for the best bad credit payday loan, take into account that most lenders accept applications from individuals who don’t have a good credit history. If the lender you’re looking at requires good credit history and you aren’t eligible, simply move on to the next.
  • Does the lender accept government benefits as a form of income? If you don’t have employment income and rely on government benefits, you’ll have to choose from payday lenders that accept government benefits.
  • Does the lender abide by provincial regulations? Each province has its own regulations for payday loans. Become familiar with the laws of your province to protect yourself as a borrower.

What do I need to apply with lenders that e-transfer payday loans in Canada?

Basic requirements for e-transfer payday loans in Canada include:

  • Be at least 18 years old or the age of majority in your province.
  • Have a recurring income.
  • Have an active bank account.

Required documents and information

These will vary by lender, but generally, you’ll need the following:

  • A valid government-issued ID (passport, driver’s licence, citizenship card).
  • Proof of address.
  • Contact information including your phone number and email address.
  • Proof of your income (pay stubs, bank statements).
  • Your bank account information (cheque account, routing and institution numbers) to set up automatic withdrawals.

Risks of e-transfer payday loans in Canada

Any payday loan you get, including e-transfer 24/7 loans in Canada, are very expensive. With typical fees ranging anywhere between $15 to $25 for every $100 borrowed, payday loans are one of the most expensive types of personal financing available. Add to that a very short repayment term, and it’s easy to get trapped in a cycle of payday loan debt. Before you apply for an e-transfer payday loan, first ensure that you can afford to fully repay the loan with your next paycheque and have enough money left to pay for your other expenses.

    How do I know a lender offering to e-transfer payday loans in Canada is legitimate?

    Look for the following signs to make sure you’re working with a reputable business:

    Watch out for unlicensed lenders

    The Internet has made it easier than ever to get access to payday loans. If you’re thinking about taking out an online payday loan in Canada, make sure that you’re dealing with a licensed business and be aware of potential risks.

    • Illegally high interest rates or fees. Some lenders will charge more than the maximum allowed, which means you might end up paying much more for your loan than you would if you chose a legitimate lender.
    • Identity theft. Online lenders might sell your personal information to third parties, putting you at risk of identity theft or a hacked bank account.
    • Funds taken from your bank account without your permission. Some online or unlicensed lenders have been known to resort to illegal ways to seek repayment from borrowers, including withdrawing money from their bank accounts or garnishing their wages.

    Check that online lenders are licensed so you can be sure they’re following provincial laws and not charging excessive interest rates. Read the fine print to make an informed decision about your loan and watch out for red flags to avoid running into further financial difficulties along the way.

    Bottom line

    Payday loans are one of the quickest ways to obtain cash if you’re in a financial emergency. And if you’re focusing on payday lenders that e-transfer payday loans in Canada, you can count on getting your cash within the same day as getting approved, if not faster.

    Be careful, though: With APRs that reach well over 400%, these loans should be reserved as a last resort because they may trigger more financial burden to your budget. You can try to consider your payday loan alternatives, which will often come with better terms and more manageable payment options. However, if you’re set on a payday loan, you can compare your payday loan options to find the best deal available to you.

    Frequently asked questions

    More guides on Finder

    Go to site