Wagepay offers fast payday loans of up to $1,500 24/7. But if you want to compare other options first or if you’re not eligible for a Wagepay loan, here are five apps like Wagepay in Canada that are worth considering.
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for long-term borrowing, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, consider calling Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
iCash is an online lender that offers instant payday loans 24 hours a day, seven days a week. You can apply online or via a highly rated mobile app, with funds sent out via e-Transfer in minutes.
Instant decisions
Get funded in less than an hour
Get approved and funded 24/7
4.5/5 stars based on over 2,400 Trustpilot reviews
Expensive to repay
Short repayment period
Not available in all provinces
Loan Amount
$100 – $1,500
Loan Term
7 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
KOHO Cover provides interest-free cash advances of up to $250. You don't need to complete a credit check to apply, and funds are available instantly within the KOHO app or via ATM. You can repay your advance any time.
Easy application process with no credit checks
No interest charges to worry about
Instant access to funds
KOHO Cover monthly subscription fee
Monthly KOHO plan fee may also apply
$250 loan amount may not be enough for some people
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
The Nyble app provides interest-free cash advances of $30 to $250. The funds can be used to cover unexpected expenses and help you avoid NSF fees. Your repayments are reported to the credit bureau to help improve your credit score.
Easy application process
No interest or late fees
Can help you improve your credit score
4.8/5 stars based on over 4,300 Trustpilot reviews
$250 may not be a large enough loan for your needs
Late payments will also be reported to credit bureaus
You'll need to pay a monthly membership fee if you want instant funding
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
Bree provides interest-free cash advances of up to $500 to help you avoid bank account overdraft fees. There are no credit checks required, and you get an instant decision. But a monthly subscription fee applies if you need express funding.
Easy application process
No credit checks
No interest charges or late fees
4.6/5 stars based on over 1,700 Trustpilot reviews
$500 loan amount may not be enough for some people
$2.99 optional monthly membership fee for express funding
Costs
0%
Loan Amount
$20 – $500
Loan Term
Next pay cycle (90 days max)
Credit Check
No
Turnaround Time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and within 1 to 3 business days for standard delivery.
Requirements
You must have a bank account with regular income deposits and a Visa or Mastercard debit card with a CVV
Money Mart offers payday loans online via its highly-rated mobile app and in-person via its network of Canadian branches. It provides instant decisions, and loans are funded within 24 hours. You'll typically have to repay what you borrow by your next payday.
Established lender
Apply online or in-store
Get your money within 24 hours
4.5/5 stars based on over 4,100 Trustpilot reviews
Payday loans are expensive
Short repayment periods
Not available in all provinces
Loan Amount
$100 – $1,500
Loan Term
1 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, NS, ON, SK and MB
Speed
As little as 1 hour after getting approved
Credit Check
Yes
Requirements
- Be at least 18 years old - Have a valid ID - Have a chequing account - Have a steady source of income
Which apps are most similar to Wagepay in Canada?
Since Wagepay is a payday loan, the apps most similar to it in Canada are iCash and Money Mart. These lenders offer the same amounts, rates and terms as Wagepay. They also provide instant funding and an easy online process.
But if you’d like to consider more affordable options, Nyble and Bree offer loans at a reduced cost. If you opt for three-day delivery, there are no fees. A $100 loan, for example, will cost $100 to pay back. With Wagepay, iCash and Money Mart, a $100 loan costs $114 to repay.
How does Wagepay compare?
You can get a detailed rundown of what Wagepay offers in our full Wagepay review, but here are the highlights:
Pros
Cheaper to repay than traditional payday loans
Get funded in a matter of minutes
Loans funded 24/7
Easy application process and no credit checks
Option to postpone or split a repayment
Cons
High rates and fees mean loans are expensive to repay
Short repayment periods mean you risk getting trapped in a cycle of debt
Only available in British Columbia and Ontario
Has only been offering loans in Canada since 2023
Bottom line
Wagepay is a viable option if you need a fast loan, but it’s worth remembering that payday loans are extremely expensive. There are also several apps like Wagepay in Canada that are worth considering if you need a Wagepay alternative. These cash advance providers and payday lenders may provide you with a short-term loan that meets your needs, but make sure you’re aware of the full cost of borrowing before deciding where to apply. Compare your payday loan options and cash advance apps to find the right option for you.
Frequently asked questions
Yes. Wagepay is licensed to operate as a payday lender in British Columbia and Ontario.
No, Wagepay does not require you to undergo a credit check to qualify for a loan. Other payday lenders and cash advance apps also typically do not carry out credit checks.
The maximum amount you can borrow with a payday loan in Canada is $1,500. However, the amount a lender will approve you for depends on factors such as your income and employment history.
There are several apps that provide access to instant loans. These include cash advance providers like Nyble, Bree and KOHO as well as payday lenders such as Wagepay and iCash. Learn more about the best loan apps.
The details you need to provide to get a small loan varies depending on the lender. However, you generally need to provide your name, address, contact details, Social Insurance Number, bank account details and income and employment information. You'll also need to provide proof of ID, such as a driver's licence or passport.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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