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Cash Money Payday Loan
APR
Varies by province
Loan Amount
$100 - $1,500
Loan Term
5 - 40 days
Turnaround Time
As little as 15 minutes with INTERAC e-Transfer
Serviced Provinces
BC, MB, NL, NS, ON, SK
Do you really need a loan today? If you would like to speak to someone about your finances you can make a free call to Credit Counselling Canada +1 866-3985999 (Monday-Friday 8:00am-5:00pm).

Summary

Cash Money allows you to borrow amounts up to $1,500 online, in-person or over the phone.

Cash Money is a solid option if you're looking for a payday loan from a legitimate lender. It's one of the largest payday lenders in Canada and offers rapid approval and funding.

To be eligible, you must be at least 18 years old with recurring income and a chequing account. Cash Money is flexible with its income requirements and accepts many types of non-employment income.

However, payday loans are one of the most expensive ways to borrow, so consider other options before you apply for a Cash Money payday loan.

Pros

  • Borrow $100 - $1,500
  • Qualify with non-employment income
  • Bad credit is okay

Cons

  • Extremely expensive

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What is Cash Money?

Cash Money is one of the largest payday lenders in Canada. It offers payday loans and lines of credit online and in-store.

Is Cash Money legitimate?

Cash Money is a legitimate lender and established business dating back to 1992. It has helped more than 595,850 Canadians with their short-term cash needs.

It’s also a Canadian Consumer Finance Association member, so you can trust that Cash Money is adhering to payday loan regulations.

Cash Money payday loan features

FeatureDetails
Loan amount$100 – $1,500
Loan term5 - 40 days
Interest rateVaries by province
Serviced provincesBC, MB, NL, NS, ON, SK
Basic eligibility criteriaRecurring income, active bank account, min. 525 credit score

What we like about Cash Money payday loans

  • Easy application process. Apply online, over the phone or in-store. Cash Money has over 90 locations across Canada.
  • Fast decisions. Get an instant decision after you apply.
  • Fast access to funds. If approved, you can get your money in as little as 15 minutes with Interac e-Transfer®.* You can also pick up your cash immediately in a Cash Money store.
  • Lenient eligibility criteria. Your income does not need to come from employment, and you can apply with bad credit.

What to watch out for

  • Steep charges. Cash Money will charge you a fixed amount per $100 borrowed. The cost will depend on your province and can be anywhere from $14 to $17 for every $100 borrowed.
  • Loan terms. The loan term is short – by your next payday. Before getting a payday loan, make sure you’ll have enough income left to pay for other debts and expenses once you repay your loan.
  • Not available in all provinces and territories. You can apply for a Cash Money payday loan only if you’re in BC, MB, NL, NS, ON, SK.

How much will a Cash Money payday loan cost?

It’s important to understand the cost of any financial product. You need to make sure you know what you will pay to borrow the loan and what you might pay if you’re late with your repayments. Cash Money will charge you a fixed amount per $100 borrowed. The amount will depend on your province.

For example, in Ontario payday lenders can charge up to $15 for every $100 borrowed. If you borrow $500 with a loan term of 14 days, you’ll pay $75 in interest. This works out to 391% APR.

You may come across extra fees if you make missed or late payments, a cheque bounces or you have insufficient funds in your bank account. These charges will vary depending on the province you live in.

Am I eligible?

To be eligible for a Cash Money payday loan, you must meet the following criteria:

  • Be at least 18 years old.
  • Have an open chequing account in your name. You will need to provide your branch transit number, financial institution number and your bank account number.
  • Have proof of recurring income. You will need to provide your gross and net monthly income, pay cycle frequency, hire date, employer name and phone number.
  • Have a working telephone number.
  • Have a valid email address.

How do I apply for a Cash Money payday loan?

If you’re ready to apply for a Cash Money payday loan, follow these steps:

  1. Click the “Go to site” button to go to the Cash Money homepage and click “Continue”.
  2. Select your province, then the payday loan option and click “Next”.
  3. Fill in the prompts to create an account, including your email address, password and security question and answer.
  4. Once you’ve created your account, fill in the personal loan application. It shouldn’t take more than 10 minutes to complete. Provide your full name, contact information including your address and phone number, employment status, monthly income and credit score.
  5. Once you submit your application, you need to verify your income before receiving a lending decision. Provide information that documents your income either by using the online application portal, by directly emailing customer support or by faxing your documents. If you’re applying in person, you can provide this paperwork at a local Cash Money branch.
  6. Cash Money will review your information and provide you with a lending decision within a business day, if not faster.
  7. If you’re approved, you can either pick up your cash at a store immediately in person or request an Interac e-Transfer®*, which will be sent within the hour. You will receive the full amount of your payday loan.

If you prefer to apply over the phone, you can also do so at 1-877-526-6639.

What documents do I need to apply?

After you apply for a loan, whether in person, online or on the phone, you will need to verify your identity and application details. You may be asked to provide the following:

  • Identification. You will need to provide either a Canadian driver’s licence, passport or birth certificate.
  • Verification of income. You’ll need to demonstrate your ability to make repayments by providing proof of employment and bank statements illustrating reliable income.
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. 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). You may also want to consider payday loan alternatives.

Compare other payday loans

1 - 5 of 5
Name Product Loan Amount Loan Term APR Turnaround Time Serviced Provinces Offer Table description
iCash Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with Interac e-Transfer
AB, BC, MB, NB, NS, ON, PEI
24/7 instant approval and e-Transfer funding.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. Income of at least $800/month required.
GoDay Payday Loan
$100 - $1,500
Up to 62 days
Varies by province
As little as 2 minutes with Interac e-Transfer
AB, BC, MB, NB, NS, ON, PEI, SK
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.
More Info
Wagepay Wage Advance Loan
$100 - $1,500
Up to 62 days
Varies by province
As little as 2 minutes with Interac e-Transfer
BC, ON
Lower and transparent fees. No late or NSF fees.
Get early access to a portion of your pay. Sign up in less than 3 minutes and receive funds via e-Transfer 24/7.
Money Mart Payday Loan
$120 - $1,500
1 - 62 days
Varies by province
As little as 1 hour after getting approved
AB, BC, MB, NS, NT, ON, SK, YT
To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.
More Info
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer
BC, MB, NL, NS, ON, SK
Instant decision and e-Transfer funding. Income of at least $1,000/month required.
More Info
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Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $15 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Bottom line

Cash Money is one of the biggest providers of payday loans in Canada, with options to apply online, in person or over the phone, making it easy for you to get quick access to funds if you’re in a sticky situation.

Tread carefully, though. While a payday loan may bail you out of a financial emergency, if you don’t have the funds to repay the loan on time or you do but not enough to pay for other expenses, it could cause you more financial hardship in the long run.

Frequently asked questions about Cash Money

*As soon as 15-minute funding available only when using Interac e-Transfer®. Subject to bank processing and system limitations.

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