Nyble review

Our verdict

Our verdict

Nyble is a pay advance service that offers access to a Nyble Essential line of credit to help you get through to your next paycheque. You can borrow from $30 to $150 without needing to undergo a credit check, and there are no interest charges or late fees to worry about. However, a monthly fee applies, and you'll need to pay an additional fee if you want fast access to your funds on the same day. Your loan repayment is then automatically withdrawn from your bank account on your next payday.

Best for: People who want to access a small loan without completing a credit check.

Pros

• No interest charges
• No late fees
• No credit check required
• Easy to use

Cons

• Monthly fee
• Money within three business days
• Faster advances available for an additional fee
• Limited reviews

Nyble is not currently available on Finder

Have you considered Cash Money Payday Loan?

Instant decision and e-Transfer funding. Income of at least $1,000/month required.

• Special offer on 1st loan
• Borrow $100 - $1,500
• APR & loan term vary by province

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Loan Amount

$30 - $150

Interest Rate

$4.99 - $7.99 per month

What is Nyble?

Launched in 2022, Nyble is a Canadian online lender based in Toronto. It offers a line of credit to help Canadians access emergency cash.

Nyble is run by Fincentify Inc., an Ontario fintech startup.

Is Nyble legit?

Fincentify Inc., the company behind Nyble, has been listed in the Ontario Business Registry since July 2020. Its registered office is located in Toronto.

The company also has a profile on Crunchbase, but there’s no information on the Nyble or Fincentify websites about the people behind the platform.

How does borrowing from Nyble work?

Nyble is a payroll cash advance service that provides access to a short-term line of credit when you need emergency cash.

Once you’ve signed up to Nyble, you can apply for a line of credit of between $30–$150. If you’re approved, the funds will be transferred to your bank account within three business days. But if you need cash quickly, you can pay a fee of $2.99–$5.99 to receive the money within minutes.

There’s no interest charged on the money you borrow, but you will need to pay Nyble’s $4.99 monthly membership fee. Your loan repayment is then deducted from your bank account on your next payday.

Nyble app features

What we like about Nyble

• Easy to use. It’s quick and easy to sign up with Nyble and apply for a Nyble Essential line of credit. You can apply online or via the Nyble app within minutes.
• No interest charges or late fees. Nyble doesn’t charge any interest on the money you borrow. It also doesn’t charge any late fees if you have insufficient funds in your account to pay back what you borrow.
• No credit checks. Nyble won’t conduct a hard or soft credit enquiry on your account when you apply for a line of credit. Instead, Nyble will assess your employment income and the number of NSF transactions on your account before deciding whether to approve your application.
• Earn rewards. Nyble says you can earn rewards for making on-time payments and simply for opening an account, and that those reward points can be redeemed for cash or gift cards. However, there’s limited information about this rewards program on the Nyble website.
• Always available. Once you’ve been approved for a Nyble Essential line of credit, provided you make on-time repayments and maintain your membership, the line of credit is available when you need it.
• Free trial. Nyble also offers customers a 14-day free trial, after which a monthly membership fee applies.

What to watch out for

• Monthly fee. You’ll need to pay a flat subscription fee of $4.99 a month to use Nyble. Be sure to factor this into your calculations when deciding whether you can afford a Nyble line of credit.
• Funding takes up to three business days. You’ll need to wait up to three business days to get an advance from Nyble, which isn’t suitable if you need money in a hurry.
• Fee applies for faster advances. If you want to access your line of credit in less than three business days, you’ll need to pay a fee of between $2.99–$5.99.
• Short repayment terms. To repay the line of credit, the amount you receive as an advance will be automatically withdrawn from your account on your next scheduled payday.
• Small amounts. The maximum amount you can access with a Nyble Essential line of credit is $150, which may not be enough for your needs. However, the Nyble Plus line of credit, which offers a larger borrowing amount, is expected to be available in future.
• No phone number. There’s no contact number listed on the Nyble website, so you’ll need to use live chat if you want to get in touch with customer support.
• Android app not yet available. At the time of writing, Nyble’s Android app was not yet available. We also couldn’t get the link to the Nyble app on Apple’s App Store to work.

Summary of Nyble reviews

Unfortunately, as Nyble is such a new provider, we couldn’t find any online reviews from previous customers.

Am I eligible to borrow from Nyble?

You’ll need to meet the following criteria to qualify for a line of credit from Nyble:

• Be 18 years old or older (or the age of majority in your province)
• Have an active bank account
• Meet minimum income requirements (higher employment income will increase your chances of being approved)
• Have minimal NSF transactions on your account

How to sign up for a Nyble loan

You can sign up for a Nyble Essential line of credit online or via the Nyble app. You’ll need to provide the following:

• Your name, email address and phone number
• Your date of birth
• Your bank account details
• Proof of ID

You can then select the loan amount you need and choose either standard or expedited payment.

Alternatives to Nyble

Payday loans have easier eligibility requirements and let you borrow higher loan amounts. However, they are generally more expensive and are only suitable as a last resort.

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Frequently asked questions

• Will I need to complete a credit check to receive a Nyble line of credit?

  No, you do not need to complete a credit check as part of the application process. Nyble will instead assess your income and your transaction history before deciding whether to approve your application.

• What can I do to increase my chances of approval?

  Nyble says that having higher employment income and minimal NSF transactions in your bank account history will increase your chances of approval.

• How long does it take to access a Nyble line of credit?

  You can access your funds the same day if you’re willing to pay a fee of between $2.99–$5.99. If you don’t want to pay the fee, it may take up to three business days for the money to be transferred to your account.

• What is Nyble Plus?

  Nyble Plus is a revolving line of credit of $30–$150. However, at the time of writing, Nyble Plus was still listed as “coming soon” on the Nyble website.