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iCASH Payday Loan review

Get fast access to emergency cash and a flexible repayment plan designed to fit your budget with an iCASH Payday Loan.

iCASH offers payday loans ranging from $100 to $1,500. These loans can be repaid over the course of one, two or three installments and are usually approved in as little as one hour from the moment you submit your online application.

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$100 - $1,500

Loan Amount

7 - 62 days

Loan Term

Varies by province

Interest Rate


Product NameiCASH Payday Loan
Interest RateVaries by province
Loan Amount$100 - $1,500
Loan Term7 - 62 days
Turnaround TimeAs little as 2 minutes with INTERAC e-Transfer
Credit Check
How to ApplyOnline, In Store
Go to site
More Info
⚠️ 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 alternatives instead of a payday loan:
  • 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.

If you need a bit of extra cash to make ends meet between paycheques, you might like to check out a payday loan from iCASH. This online lender provides financing through its convenient mobile app, and you should be able to qualify in a matter of minutes.

It’s important to remember that any type of payday loan will typically cost much more than a traditional loan due to high fees and interest rates. That’s why it’s important to look at other debt solutions to deal with long-term financial issues before you go this route.

How does borrowing from iCASH work?

You can apply to borrow up to $1,500 by filling out an online application or by submitting a request through the iCASH mobile app. Your money will then be deposited by Interac e-transfer within a couple of minutes of being approved.

What types of loans does iCASH provide?

iCASH offers payday loans ranging from $100 to $1,500 for loan terms between 7 - 62 days. These loans can be repaid over the course of one, two or three installments and are usually approved in as little as one hour from the moment you submit your online application.

Once you’re approved, your money will be e-transferred to you in as little as five minutes. While this is a convenient and easy way to cover short-term financial problems, keep in mind that you’ll pay high fees for this type of loan.

That’s why you should make sure that you limit how much and how often you borrow money. You should also make sure that you have enough money coming in to repay your loan so that you don’t get sucked into an unmanageable cycle of debt.

How much will I have to pay for an iCASH loan?

You’ll usually end up paying hundreds of dollars in fees for this type of loan. The fees you’ll pay for your specific loan will be outlined in your loan contract and are listed below for each province:

  • British Columbia: $15 per $100 borrowed
  • Alberta: $15 per $100 borrowed
  • Manitoba: $17 per $100 borrowed
  • Nova Scotia: $19.00 per $100 borrowed
  • Ontario: $15 per $100 borrowed
  • New Brunswick: $15 per $100 borrowed
  • Prince Edward Island: $15 per $100 borrowed

Can I get an iCASH payday loan with bad credit?

Yes, iCASH specifically states on its website that it accepts customers of all types of credit scores, including bad credit. While iCASH will check your credit score, it will not fixate on it and instead will consider other factors, such as your income. According to iCASH, more than 90% of its applicants are instantly approved, and most complete the whole process in 30 to 60 minutes.

iCASH will only check your credit once. It will not check your credit if you are a returning customer.

What are the benefits of an iCASH loan?

You’ll be able to take advantage of a handful of benefits when you apply for a payday loan with iCASH (though a traditional loan is a much better option if you’re looking for more than $1,500).

  • Easy application. You can apply for a loan with iCASH in a matter of minutes.
  • How long does iCASH approval take? After applying for an iCASH Payday Loan, you’ll know whether or not you’re approved and get your money very quickly: As little as 2 minutes with INTERAC e-Transfer
  • Flexible repayment. You can choose to pay your loan back in one, two or three easy instalments so that you don’t exceed your monthly budget.
  • Mobile app. You’ll be able to apply for financing online or through an easy-to-use mobile app.
  • Unsecured loans. You won’t risk losing any of your assets (like your home or vehicle) if you can’t make your repayments.
  • Availability. iCASH is available 24/7, 365 days a year.
  • Bad credit doesn’t matter. You can still apply with bad credit because your credit score won’t factor into your loan decision.
  • No fee for early repayment. iCASH doesn’t charge hidden fees and you can repay your loan early without any penalties.
  • Cashback program. You may be able to get 20% of the fees you pay back as soon as you pay off your loan. The program is not available to customers in Manitoba.

What should I watch out for with an iCASH Payday Loan?

Payday loans often have more disadvantages than traditional loans that come from the bank or a low-cost lender. The main drawback of a payday loan is the high fee you’ll pay to borrow. This can lead some borrowers into a vicious cycle of debt that’s difficult to get out of, which is why payday loans should be a last resort.

Another thing to watch out for is that iCASH only services the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario and PEI.

What should I know before I apply for an iCASH Payday Loan?

Eligibility requirements

To apply for a loan from iCASH, you need to meet the following criteria:

  • Be at least 18 years old (or 19 in some provinces)
  • Have a Canadian bank account
  • Have a monthly net income of at least $800
  • Be residing in a province that iCASH services

Required documents and information

  • Proof of ID. You’ll have to show a government-issued piece of ID like your driver’s licence or passport to prove your identity.
  • Proof of address. You may be required to submit a utility or cell phone bill to prove that you live at a stable address in Canada.
  • Void cheque. You’ll likely have to supply a void cheque or direct deposit form to facilitate withdrawals from your account.
  • Income verification. You could be required to submit pay stubs, bank statements or other financial documents to prove your income.

How to apply for an iCASH Payday Loan

If you think you meet all the eligibility criteria and you’re ready to get started with your loan application, you just need to follow the steps below:

  1. Click the green “Apply now” button below to be securely redirected to the iCASH website.
  2. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  3. Review and submit your application.
  4. Get verified and negotiate the terms of your loan if you meet the eligibility requirements.

Compare payday loans

Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces
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).

You'll need to be 18 years of age or older and have a net income of at least $1,000/month. Residents of MB and NB must apply in-store for a loan.
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.

To be eligible, you'll need to be at least 19 years of age and have a net income of at least $800/month deposited into your bank account.
GoDay Payday Loan
$100 - $1,500
Up to 62 days
Varies by Province
As little as 2 minutes with INTERAC e-Transfer
To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.

Compare up to 4 providers

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 $17 per $100 borrowed
Nova Scotia $19 per $100 borrowed
Newfoundland and Labrador $21 per $100 borrowed
Northwest Territories, Nunavut & the Yukon $60 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)

Bottom line

iCASH is an online payday loan provider that lets you borrow up to $1,500 at a time, depending on how much income you have coming in. You’ll just need to make sure that you don’t use these funds to solve any long-term financial problems that you may have as this could lead you further into debt. Use this post to find out what you need to qualify and start your application today.

Frequently asked questions about iCASH Payday Loans

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