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Faxless payday loans

Apply for faxless payday loans online and get your funds within a few hours.

Gone are the days of faxing personal documents to apply for a payday loan. You can apply quickly and easily for faxless payday loans completely online and receive your approved funds within hours via direct deposit or electronic bank transfer.

Compare faxless payday loans

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.

Compare up to 4 providers

⚠️ 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.
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)

What are faxless payday loans?

Faxless payday loans allow borrowers to apply for a loan online, without the need to fax over financial documents or visit a branch in person to finish their application. It’s useful if you’re in a hurry to get funds. You can sign documents electronically and receive your funding via direct deposit or Interac e-Transfer.

Here’s a look at the key features of faxless payday loans:

  • Easy application you can complete anywhere with an Internet connection. You can usually apply for faxless payday loans online in under 10 minutes.
  • Small loan amounts and short loan terms. Borrow up to $1,500. It must be repaid within 62 days or by your next pay date. If you can’t pay it back on time, you’ll face more fees and interest charges.
  • Fast turnaround time. Faxless payday loan lenders usually provide almost instantaneous approval. Count on getting your funds in as little as a few minutes to hours after approval.
  • Bad credit doesn’t matter. Payday lenders shift the emphasis from your credit score to your ability to repay your loan. As long as you can prove you have a stable income, you should be in the clear.

Are faxless payday loans safe?

They are – as long as you’re working with a legitimate, licensed payday lender. Payday loans are one of the most expensive ways to borrow money with interest rates over 400%. These high costs make it that much harder to repay the loan and could keep borrowers in a cycle of debt.

If you’re aware of the steep price tag and have a concrete repayment plan, here’s how you can ensure you’re working with a legitimate lender:

How do I get my funds if I apply for a faxless payday loan?

Once you’re approved and you’ve signed off on your contract, faxless payday loans can be funded in the following ways:

  • Interac e-Transfer. Your lender will issue your funds via a money transfer that’s sent to your email address. The message will include a link you’ll need to click on to direct you to the money transfer. From there, you can select which bank you have an online account with and log in to deposit your funding.
  • Direct deposit. If your lender doesn’t provide Interac e-Transfer, it will send your funds via direct deposit straight into the bank account with the account information that you provided on your application. You’ll need to provide your chequing account number, routing number and institution number. This is a hands-off method for receiving your funds.

Faxless payday loans are done completely online so you won’t be able to receive cash like you would if you applied to a payday lender with physical storefronts.

What to watch out for

Consumers need to tread carefully with payday loans. Here’s what you should consider:

  • No in-person interaction. Because faxless payday loans are managed completely online, you won’t receive any in-person help if this is important to you.
  • Sky-high fees. Payday loans are notorious for their incredibly high fees. You’ll pay between $15 and $25 for every $100 you borrow, depending on your province or territory.
  • Quick repayment terms. Payday loans must be repaid by your next payday, which is usually in 1-4 weeks. Most provinces cap loans at 62 days, after which additional late charges and penalties will be added to your amount owed.
  • Automatic withdrawals. Lenders usually set up automatic loan repayments from your bank account on your due date, which means you have to budget accordingly to avoid late charges.

Do I qualify?

While eligibility criteria vary from lender to lender, these are the most common requirements you’ll need to meet:

  • Residency. Be a Canadian resident, with proof of ID (passport, citizenship card or driver’s licence).
  • Age. Meet the minimum age requirement, which varies from province to province.
  • Income. Get paid by direct deposit with a “steady source of income” whether from employment or from government, tax or pension benefits (proof of income via bank statements, pay stubs, benefits letter etc.).
  • Bank account. Have an open bank account with a Canadian bank or credit union.
  • Contact details. Have your own valid email account, phone number and home address.

How to apply for faxless payday loans

If you’re ready to apply for a faxless payday loan, follow these steps. Keep in mind, each lender will have its own application form but they’ll follow a similar process:

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Bottom line

If you need emergency money, faxless payday loans are a quick solution, especially if you have your financial information readily available on your phone or laptop. Consider the risks and know your rights before you sign. Payday loans come with incredibly steep fees so be sure to have an exit strategy to pay off the loan by your next payday.

If you don’t think that you can pay back your loan on time, you may want to consider payday loan alternatives, which will often come with better terms and more manageable payment options.

Frequently asked questions

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