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iCASH Payday Loan review

Get fast access to emergency cash and a flexible repayment plan designed to fit your budget. 

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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Min. Loan Amount


Max. Loan Amount

14 - 62 days (varies by province)

Loan Term


Product NameiCASH Payday Loan
Interest RateVaries by province
Min. Loan Amount$100
Max. Loan Amount$1,500
Loan Term14 - 62 days (varies by province)
Turnaround TimeIn as little as 2 minutes with INTERAC e-Transfer if approved.
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 and would like to speak to someone for free financial counselling, you can call Credit Counselling Canada from 8:00am to 5:00pm Monday to Friday at +1 866-398-5999. Consider alternatives before applying for a payday loan:
  • Local resources. Government agencies, nonprofits and local charities may offer free financial services and help with food, utilities and rent for those in need.
  • Debt relief companies. These services can help you find a solution to reduce your debt payments and work toward becoming debt-free.
  • Payment extensions. Talk with your bill providers about a longer payment plan or extension on your due date if you're behind on payments.
  • Side jobs. Today's digital marketplace offers the ability to more easily sell unwanted items, sign up for food delivery or drive for rideshare services.

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. 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:

ProvinceFee per $100 borrowedFee to borrow $500
Alberta, Ontario, New Brunswick and British Columbia$15$75
Manitoba and Saskatchewan$17$85
Nova Scotia$19$95

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. 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% who apply 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.
  • Fast approval. Your application will be approved in a couple of minutes and your money will be e-transferred to your bank account as soon as you get the green light.
  • 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?

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?

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

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 Max. Loan Amount Serviced Provinces Turnaround Time Loan Term Interest Rate
Cash Money Payday Loan
British Columbia
Nova Scotia
In as little as 15 minutes with INTERAC e-Transfer® if approved
12-14 days (varies by province)
Varies by province
Apply for your first $300 payday loan at a $20 borrowing cost (excludes Saskatchewan applicants). Residents of Manitoba and New Brunswick cannot apply for a loan online (must apply in-store).
iCASH Payday Loan
British Columbia
New Brunswick
Nova Scotia
In as little as 2 minutes with INTERAC e-Transfer if approved.
14 - 62 days (varies by province)
Varies by province
Get up to 20% in cash back once your iCASH Payday Loan is fully repaid. Conditions apply.
GoDay Payday Loan
Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, PEI, Saskatchewan
In as little as 2 minutes with INTERAC e-Transfer if approved.
Up to 62 days
Varies by Province
To apply for a GoDay payday loan, 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
You should always refer to your loan agreement for exact repayment amounts and costs as they may vary from our results. The table below shows the maximum allowable cost of borrowing under a payday loan for each province:
Province Maximum allowable cost of borrowing
Alberta $15 per $100 borrowed
British Columbia $15 per $100 borrowed
Manitoba $17 per $100 borrowed
New Brunswick $15 per $100 borrowed
Newfoundland and Labrador $21 per $100 borrowed
Northwest Territories, Nunavut & the Yukon $60 per $100 borrowed
Nova Scotia $19 per $100 borrowed
Ontario $15 per $100 borrowed
Prince Edward Island $25 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)
Saskatchewan $17 per $100 borrowed

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

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