Cash 4 You Payday Loans Review April 2021 | Finder Canada

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Cash 4 You Payday Loan

Do you need access to fast cash? Find out how you can apply for a payday or instalment loan with this trusted lender. 

Please note: All information about Cash 4 You Payday Loan has been collected independently by Finder and this product is not available through this site.

If you’re looking for an easy solution for an unexpected cash shortfall, you might like to check out a payday or instalment loan from Cash 4 You. This lender offers quick financing online and at hundreds of storefront locations.

While these loans can help you cover emergency or unexpected expenses, they also come with high interest rates and fees. That’s why you should only use them as a temporary solution for your short-term financial issues.

How does borrowing from Cash 4 You work?

You can borrow up to $1,500 with payday loans and $15,000 with an instalment loan (though these loans are limited to residents of Ontario). To apply for financing, you’ll need to fill out an application form online or at a Cash 4 You store.

What types of loans does Cash 4 You provide?

With Cash 4 You, you may be able to qualify for an instalment loan or payday loan, depending on where you live:

Instalment loans

You can apply for these loans if you live in Ontario and are able to visit a store in person to pick up your cash. The amount you’ll be able to qualify for ranges between $1,000 and $15,000, depending on your credit score and current financial situation. You’ll typically have to pay high daily interest rates on Cash 4 You‘s instalment loans, so you should only consider them if you can’t qualify for financing with a traditional lender and you know you can repay what you borrow.

Payday loans

You’ll be able to apply for a payday loan using Cash 4 You‘s easy online application. Depending on a number of risk factors, you may be able to qualify for as much as $1,500. These funds can be picked up in-store or deposited into your account using direct deposit. Once you get your money, you’ll have to repay it in one lump-sum by your next payday. You’ll also pay a high fee on top of any amount you borrow.

What are the benefits of a Cash 4 You loan?

There are many benefits that you can take advantage of when you take out an instalment or payday loan with Cash 4 You:

  • Easy application. You’ll be able to apply for a loan with Cash 4 You online by providing the necessary personal information.
  • Fast approval. You can pick up your money instantly in-store or within a couple of days if you qualify for direct deposit.
  • Unsecured loans. You won’t need to put up any collateral like your home or vehicle to secure your loan.
  • Bad credit doesn’t matter. Your credit score won’t factor into your loan decision unless you’re applying for an instalment loan.
  • No fee for early repayment. You won’t have to pay an additional fee to repay your loan early.
  • Locations across Ontario. You’ll be able to access hundreds of locations to take out money across the province.

What should I watch out for?

While there are a handful of benefits that come along with taking out a loan with Cash 4 You, you’ll want to keep an eye out for these potential drawbacks:

  • High fees. You’ll typically get saddled with high interest rates and fees to borrow money with Cash 4 You, which could lead you into a cycle of debt.
  • Automatic withdrawals. You’ll have to make sure that you have enough money in your account to cover the repayment of your loan through automatic withdrawals.
  • Only available in Ontario. You’ll only be able to apply for a loan with Cash 4 You if you’re a resident of Ontario with a valid provincial ID.

What should I know before I apply?

Eligibility requirements

To apply for a loan from Cash 4 You, you need to meet the following criteria:

  • Be at least 18 years old.
  • Be a resident of Ontario.
  • Have a Canadian bank account.
  • Have a steady form of income (or earn at least $250 per net pay for a payday loan).

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 need to submit a utility or cell phone bill to prove that you’re living at a stable address in Canada.
  • Pre-authorized debit. You’ll have to submit a direct deposit form to facilitate withdrawals from your account.
  • Income verification. You could be required to submit pay stubs, bank statements or other 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. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and negotiate the terms of your loan if you meet the eligibility requirements.
  4. Choose how you’d like to receive your funds.

Bottom line

Cash 4 You is an online loan company that will let you borrow as much as $15,000 in a matter of minutes. You’ll just need to be careful about how much and how often you borrow, and you need to make sure that you have the money to repay your loan. Use this post to find out what you need to qualify and start your application today.

⚠️ 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 often offer free financial services and help with food, utilities and rent for those in need.
  • 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.

Compare other payday loans

Check the websites of any lenders you’re interested in to confirm they operate in your province or territory of residence.

Name Product Max. Loan Amount Serviced Provinces Turnaround Time Loan Term Interest Rate
Cash Money Payday Loan
$1,500
British Columbia
Nova Scotia
Ontario
Saskatchewan
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
$1,500
Alberta
British Columbia
Manitoba
New Brunswick
Nova Scotia
Ontario
PEI
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
$1,500
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.
loading

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

Frequently asked questions

More guides on Finder

Go to site