E-transfer payday loans in Manitoba

If you need money urgently to cover an essential expense, an e-transfer payday loan is one of the quickest ways to access cash. Online payday loans offer fast approvals and funding, and some even offer e-transfers 24/7.

However, e-transfer payday loans in Manitoba come with extremely high interest rates and very short repayment terms, so be sure to consider all your other options first.

Compare e-transfer payday loans in Manitoba

Payday lender	Loan details	E-transfer details	Non-employment income it accepts
	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 employment insurance, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance	Go to site
	Loan amount: $100 – $1,500 Loan term: 5 – 40 days Interest rate: Varies by province	As little as 15 minutes with INTERAC e-Transfer	CPP, child tax credit, unemployment, disability	Go to site
	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 and pensions	Read review
	Loan amount: $100 – $1,500 Loan term: Up to 62 days Interest rate: Varies by province No credit check required	E-transfer 24/7 in 15 minutes.	CCB, disability, pensions	Read review
	Loan amount: $100 – $1,500 Loan term: Up to 62 days Interest rate: Varies by province No credit check required	E-transfer within 5 minutes.	Child tax credit, CPP, private pension and disability income; does not accept EI or CERB.	Read review

Quick summary of e-transfer payday loans in Manitoba

• Loan amounts of $100–$1,500, up to 30% of your paycheque
• Loan terms of up to 62 days
• Fees of $17 for every $100 borrowed

What are the eligibility requirements?

Generally speaking, to qualify for a payday loan in Manitoba you will need to:

• Be at least 18 years of age
• Be a Canadian citizen or resident
• Have a permanent address
• Have a steady source of income
• Have a valid Canadian bank account which can receive e-transfers

However, the exact eligibility requirements vary between lenders. Some payday lenders accept government benefits as income but others don’t, so check the eligibility criteria before you apply.

Can you get an e-transfer payday loan in Manitoba with no credit check?

Yes, you can get an e-transfer payday loan without undergoing a credit check, but it’s important to make sure you’re dealing with a legitimate lender. A legit lender will assess your income by looking at your bank statements or pay stubs, and will determine your ability to repay the money you want to borrow.

You can spot a legitimate payday lender by the fact that they:

• Are licensed as a payday lender in Manitoba
• Follow all payday loan regulations in Manitoba
• Don’t offer guaranteed loan approval
• Have a secure website

Find out more about how to find a reputable lender in our guide to payday loan scams and how to avoid them.

Can you get an e-transfer payday loan in Manitoba with no documents?

Yes. While some payday lenders will require you to send them pay stubs or bank statements to prove that you have a stable income, many lenders now offer instant bank verification.

Rather than sending documents, this process allows you to simply log in to your bank account via a secure third-party portal. The lender is then sent a read-only copy of your bank statements to help verify your identity and assess your income.

It’s a fast and easy process that can help you access quicker loan approval, and the lender doesn’t get access to details like your online banking username or password.

What to watch out for

A payday loan might seem like an easy way out of a financial pickle, but that’s often not the case. Make sure you’re aware of the key risks associated with payday lending:

• Very expensive. A payday loan is an extremely expensive way to borrow money. With a fee of $17 for every $100 borrowed paired with short repayment periods, payday loans commonly have APRs of 300% or significantly more.
• Short loan terms. The maximum length of a payday loan in Manitoba is 62 days, but you usually need to repay by your next payday. With such a short amount of time to repay what you borrow, be certain you can afford to pay back the loan on time and still stay on top of all your other essential expenses.
• Cycle of debt. Payday loans make it easy to get trapped in an endless cycle of debt that can be very difficult to escape. Here’s how it works: You need money for an urgent expense so you take out a payday loan, but because it’s so expensive to pay back, you end up needing to borrow more money to pay off your debts and expenses for the month. This is why a payday loan should only ever be considered as a last resort, and why you should consider payday loan alternatives.
• Predatory lenders. Unfortunately, the payday lending space can attract illegitimate lenders who take advantage of people in dire financial situations. Make sure you only ever deal with a lender that has a payday lending licence in Manitoba and abides by all payday loan regulations. These regulations impose limits on how much a lender can charge you to repay your loan, and specify all the information that must be included in a payday loan agreement. Find out more from the Consumer Protection Office.

Cost example: James, a Winnipeg resident, needs a $1,000 loan fast

James needs a $1,000 loan to pay for essential mechanical work on his car. He applies for a payday loan through a lender that offers e-transfers within 15 minutes, but he’ll need to pay back the funds he borrows in 14 days.

As you can see in the table below, with fees of $17 per $100 borrowed and a short loan term, this loan effectively has an APR of more than 440%. In total, it’ll cost James $1,170 to pay back what he borrows.

Frequently asked questions

• What income can I use to qualify for e-transfer payday loans in Manitoba?

  All payday lenders accept employment income as long as it's recurring. They differ in what non-employment incomes they accept. Some lenders accept government benefits such as Employment Insurance, Child Tax Benefits, Disability Tax Credit, Old Age Security and others as income. Check with the lender for details.

• How do I apply for e-transfer payday loans in Manitoba?

  Many lenders allow you to apply online for an e-transfer payday loan 24/7. You'll need to provide your name and contact details as well as your bank account information. Some may require you to provide one or two references.

• How long does it take to get e-transfer payday loans in Manitoba?

  Some lenders offer instant approval and can use e-transfer to send the money to your bank account within minutes. However, please note that instant approval may not be available in all situations, for example if you've just started a new job.