If you’re facing a financial emergency, applying to online lenders that e-Transfer payday loans in Canada is one of the fastest ways to borrow money. Online payday lenders give rapid approval and funding – sometimes 24/7 – but with sky-high interest rates and incredibly short repayment terms, consider all alternatives before you apply.
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.
Lenders that e-Transfer payday loans in Canada
Compare lenders that provide e-Transfer payday loans in Canada, including those that offer it 24/7.
Learn more about licensed lenders of e-Transfer payday loans in Canada
Not sure which one to pick? We break down the details for each lender below, including types of income they accept, speed of e-Transfer funding, serviced provinces, and pros and cons.
1. iCash
Founded in 2014, iCash has become one of the biggest and fastest payday lenders in Canada, serving more than 500,000 customers since its launch. Its corporate office is in Hawkesbury, Ontario.
Loan details
Minimum income: $800
Non-employment incomes it accepts: Many types, such as employment insurance, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance
24/7 payday loan: Yes, it provides 24/7 instant approval and 24/7 e-Transfer funding
Credit check required: Yes
Documents required: No, but you’ll need to connect your bank account
How to apply: Online
Instant approval available: Yes
E-Transfer available: Yes, in as little as 2 minutes
Serviced provinces: AB, BC, MB, NB, NS, ON, PEI
Pros
Very fast – complete the process in as little as 30 minutes
Accepts many types of income
Accepts low income
Accepts bad credit
Highly rated app available
Customer service available 24/7
What to watch out for
No store locations; online only
Requires one reference (friend or family member is okay)
GoDay is an online-only payday lender operating since 2012. Its head office is in Toronto, Ontario. This lender has BBB accreditation and is a member of the Canadian Consumer Finance Association.
Loan details
Minimum income: None
Non-employment incomes it accepts: CCB, disability tax credit, OAS, CPP and private pensions
24/7 payday loan: 24/7 applications and approvals
Credit check required: Yes
Documents required: No, but you’ll need to connect your bank account
How to apply: Online
Instant approval available: Yes
E-Transfer available: Yes, in as little as 2 minutes
Serviced provinces: AB, BC, MB, NB, NS, ON, PEI, SK
Wagepay is a game-changing company that provides wage advance services to Canadians in eligible provinces. You can get early access to a portion of your pay, with much cheaper costs than a traditional payday loan.
Loan details
Minimum income: $1,600
Non-employment incomes it accepts: Not disclosed
24/7 payday loan: Yes, it provides 24/7 instant approval and 24/7 e-Transfer funding
Credit check required: No
Documents required: No, but you’ll need to connect your bank account and likely provide drivers license number
How to apply: Online
Instant approval available: Yes
E-Transfer available: Yes, in as little as 2 minutes
Serviced provinces: BC, ON
Pros
Very fast – complete the signup process in as little as 3 minutes
No credit check required
Cheaper costs than traditional payday loans
Fast Interac e-Transfer deposit available 24/7
No late fees
What to watch out for
No store locations; online only
Requires employment income of at least $1,600 a month
Credit Club is an online-only direct lender of e-Transfer payday loans. Its main office is in Gatineau, Quebec, but it also has an office in Ottawa, Ontario.
Loan details
Minimum income: None
Non-employment incomes it accepts: Not disclosed
24/7 payday loan: Yes, it provides 24/7 instant approval and 24/7 e-Transfer funding
Credit check required: No
Documents required: No, but you’ll need to provide bank account details
My Canada Payday is an online-only payday lender owned by Westrock Financial, which has a BBB accreditation and A+ rating. The company has been in business for 15+ years.
Loan details
Minimum income: $1,000
Non-employment incomes it accepts: Many types, such as CCB, disability, pensions
24/7 payday loan: Yes, 24/7 approval and 24/7 e-Transfer are available
Credit check required: No
Documents required: No, but you’ll need to connect your bank account
How to apply: Online
Instant approval available: Yes
E-Transfer available: Yes, in as little as 15 minutes
Serviced provinces: AB, BC, MB, NS, ON, SK
Pros
Convenient online application
Fast process
What to watch out for
No store locations; online only
24/7 e-Transfer payday loans not guaranteed
Your income must be paid by direct deposit
Borrow $100 max for first 3 loans if your income is government assistance
PAY2DAY been providing fast payday loans since 2006. Its registered office is in Mississauga, Ontario, and it has over 30 store locations in Canada. You can also apply for a payday loan online.
Loan details
Minimum income:
Non-employment incomes it accepts: Many types, such as EI, retirement income
24/7 payday loan: Yes, 24/7 approval and 24/7 e-Transfer are available
Credit check required: No
Documents required: Government-issued ID
How to apply: Online or in store
Instant approval available: Yes
E-Transfer available: Yes
Serviced provinces: ON, BC, NS
Pros
Mobile app available
24/7 customer service
Accepts EI, retirement incomeAccepts low income
Accepts bad credit
First-time customers can borrow $300 in-store with no interest
Focus Financial has been providing fast payday loans since 2008. Its registered office is in Vancouver, BC, and it has an A+ BBB rating.
Loan details
Minimum income: $1,200
Non-employment incomes it accepts: CPP, private pension, EI, WCB, child tax credit, non-government disability benefits (government disability income not accepted)
24/7 payday loan: No
Credit check required: No
Documents required: No, but you’ll need to connect your bank account
Payday loans are loans of up to $1,500 that you typically repay on your next payday. Once a lender approves you for a loan, one of the ways it can send you the money is through email money transfer, which can sometimes be done in Canada 24/7.
Many payday lenders that operate online use Interac e-Transfer to fund their loans. If you apply online, you can get your money within a few minutes after submitting your signed contract.
How do e-Transfer payday loans in Canada 24/7 work?
Many payday lenders across Canada advertise e-Transfer payday loans and 24/7 convenience, but what do they actually mean? We break down the three stages of getting a payday loan below and how they affect turnaround times.
Because most payday loan lenders make their applications available online, you can apply for a payday loan in Canada 24/7. Online applications are fast to complete and sometimes require no documents in the process.
This is where the process could slow down. While lenders like iCash offer 24/7 instant approval decisions, other lenders will only assess your application for approval during business hours.
If you go through bank verification, you can typically get instant approval. If you don’t opt for bank verification or there are parts of your application that need a closer look, the lender will need to do a manual review. If the payday lender doesn’t have staff that manually reviews applications 24/7, you’ll then have to wait until their office is open to get approval.
Once you’ve been approved and you’ve signed your contract, lenders can e-Transfer the money to you within minutes. Some have an automated system for this. So if you submit your signed contract in the middle of the night and the office is closed, the payday loan can still be e-Transferred 24/7 within minutes.
Customer support for e-Transfer payday loans in Canada 24/7
If e-Transfer payday loans in Canada 24/7 are important to you and there’s a chance your application will need a manual review, you may want to apply to lenders that have staff operating 24/7, because not all of them have this. iCash and PAY2DAY are examples of lenders that have 24/7 online customer service.
Below are a few reasons why your application may need a manual review:
You’re a first-time borrower.
You have a new job.
You recently changed your address.
There are errors on your application (for example, the address attached to your bank account doesn’t match what’s on the loan application).
What are the requirements of e-Transfer payday loans?
Basic requirements include:
Be at least 18 years old or the age of majority in your province.
Have a recurring income.
Have an active bank account that’s registered for Interac e-Transfer.
Applying online with instant bank verification
When you fill out an application, a payday lender might ask you to connect your bank details via instant bank verification instead of sending them any documents. This is a common step in the application for many online payday lenders, but make sure you apply to a legitimate one.
With instant bank verification, instead of faxing or emailing paperwork, you’ll connect your bank account details with the lender through a secure portal so it can view your bank statements, verify your identity and make a decision on your application. Your username and password will never be stored or seen by the lender.
This no-document process speeds up the approval and enables you to get your loan nearly instantly.
What are the fastest e-Transfer payday loans in Canada 24/7 with no documents required?
If you’re looking for the fastest 24/7 e-Transfer payday loans with no documents required during the application process, there are some lenders in Canada that have simple applications available entirely online. For example, iCash offers a fast, online payday loan application with 24/7 approval, 24/7 e-Transfer within minutes and no documents required to send in. Other lenders to consider include Credit Club and PAY2DAY.
Can I get e-transfer payday loans in Canada 24/7 with child tax?
Yes, you can get e-Transfer payday loans in Canada while receiving child tax benefits from select lenders like iCash, Cash Money, PAY2DAY, Speedy Cash and Focus Cash Loans. These lenders accept the Canada Child Benefit as a valid source of income because they have relatively lenient eligibility requirements. Lenders like PAY2DAY and Focus Cash Loans also offer no credit check payday loans.
Can I get e-Transfer payday loans in Canada 24/7 with no credit check?
Yes, but make sure you apply to a licensed payday lender. Licensed payday lenders that offer e-Transfer payday loans in Canada 24/7 with no credit check will evaluate the stability of your income by looking at your bank statements and/or pay stubs.
PAY2DAY and Money Mart are examples of legitimate lenders.
Can I get an e-Transfer payday loan with bad credit?
Yes. Payday loans are specifically designed for people who can’t get approved by a bank or credit union and need easy approval. Payday lenders have lenient eligibility requirements, but in exchange you pay high interest rates.
Can I pay back a payday loan via e-Transfer?
In most cases, lenders will automatically withdraw the amount you owe from your bank account on the due date, though you might find a few that allow repayment via e-Transfer. PAY2DAY is an example.
What to consider before applying
The market is flooded with payday lenders. To help you narrow your scope, here’s what to consider:
How fast is it to get the loan? Some of the best payday loans in Canada ensure that you’re approved instantly and you receive your e-Transfer link right after you submit the signed contract. But there are some cases where you may not get an instant decision – for example, if you’re a first-time borrower or if the lender requires more information about you.
Are you aware of all the costs? Take the time to find out just how much you’ll have to pay in fees. Depending on where you live, you can pay between $14 to $17 for every $100 borrowed, making e-Transfer payday loans one of the most expensive ways to borrow in Canada. If you miss the payment deadline, you will encounter late fees and NSF fees, too.
Does the lender accept government benefits as a form of income? If you don’t have employment income and rely on government benefits, you’ll have to choose from payday lenders that accept government benefits.
Risks of payday loans in Canada
Any payday loan you get will be very expensive, with fees ranging between $14 to $17 for every $100 borrowed. Add to that a very short repayment term, and it’s easy to get trapped in a cycle of payday loan debt.
Before you apply for a payday loan in Canada, first make sure you can repay the loan with your next paycheque and you’ll have enough money left to pay for your other expenses.
The use of payday loans is on the rise. Based on survey data, there was a 132% increase in the use of payday loans from Q4 2022 to Q1 2023.
How do I know a lender offering to e-Transfer payday loans in Canada 24/7 is legitimate?
Look for the following signs to make sure you’re working with a reputable payday loan business:
The best way to make sure the payday lender you’re working with is legitimate is to check the business’s credentials with your province’s consumer affairs office. In British Columbia, for example, you can contact Consumer Protection BC at 1-888-564-9963 to check if a lender is licensed in the province. The federal government provides this guide to consumer affairs offices across the country.
A legitimate payday lender will follow provincial guidelines for factors such as the maximum cost of borrowing for a $100 payday loan, a cooling off period to cancel the payday loan, and the maximum penalty it can charge for a bounced cheque.
A payday lender can’t extend or roll over your payday loan in certain provinces like Alberta, BC, New Brunswick, Nova Scotia, Ontario and Saskatchewan.
Legitimate lenders do not promise you’ll get approved. They will first review your finances before making a decision.
Watch out for unlicensed lenders
The Internet has made it easier than ever to get access to payday loans. If you’re thinking about taking out an online payday loan in Canada, make sure that you’re dealing with a licensed business and be aware of potential risks.
Illegally high interest rates or fees. Some lenders will charge more than the maximum allowed, which means you might end up paying much more for your loan than you would if you chose a legitimate lender.
Identity theft. Online lenders might sell your personal information to third parties, putting you at risk of identity theft or a hacked bank account.
Funds taken from your bank account without your permission. Some online or unlicensed lenders have been known to resort to illegal ways to seek repayment from borrowers, including withdrawing money from their bank accounts or garnishing their wages.
Payday loans are one of the quickest ways to obtain cash if you’re in a financial emergency. And if you’re focusing on payday lenders that e-Transfer payday loans in Canada, you can count on getting your cash within the same day as getting approved, if not faster.
Be careful, though: With APRs that reach well over 300%, these loans should be reserved as a last resort because they may trigger more financial burden to your budget. You can try to consider your payday loan alternatives, which will often come with better terms and more manageable payment options. However, if you’re set on a payday loan, you can compare your payday loan options to find the best deal available to you.
Frequently asked questions
To optimize your chances of getting your payday loan as soon as possible, apply to a payday lender that offers 24/7 instant approval, 24/7 e-Transfer funding and 24/7 customer support, such as PAY2DAY and iCash.
Loans you can get that offer 24/7 approval and funding and are not payday loans are pay advance apps like Bree.
Lenders will have a maximum loan amount ($1,500 in all provinces), while some may have a lower maximum amount for first-time borrowers. The amount you're able to borrow is based on your income. If you need money fast, check out our guide to emergency loans in Canada here.
Yes. Check the payday loan regulations of your province. In many provinces, lenders must allow you to pay off your loan early without any charges or penalties.
Leanne Escobal is a publisher for Finder. She has spent over 11 years working with financial products and services, specializing in content and marketing. Leanne has completed the Canadian securities course (CSC®) as well as the personal lending and mortgages course by the Canadian Securities Institute. She has a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio
Carmen Chai is a freelance writer at Finder, specializing in financial products. She is an award-winning Canadian journalist who has lived and reported from major cities such as Vancouver, Toronto, London and Paris. She has reported on personal finance, mortgages, and banking products for nearly a decade. See full bio
Here’s a look at the top reasons why lenders might decline your application for a payday loan. Plus, find out how to increase the chances that your next application will be approved.
We take you through what you need to know if you’re looking for a second payday loan.
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