In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
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GoDay Payday Loan
APR
Varies by province
Loan Amount
$100 - $1,500
Loan Term
Up to 62 days
Turnaround Time
As little as 2 minutes with Interac e-Transfer
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI, 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).

Our verdict

Get fast funding for an online payday loan, but watch out for the high cost of borrowing.

GoDay offers online payday loans of up to $1,500 plus installment loans of up to $15,000. You can apply online without having to upload any paperwork, and it's possible to qualify for a loan with bad credit or non-employment income. Loans are approved 24/7, and you can get funded within an hour via e-Transfer.

But payday loans are extremely expensive and have short repayment terms, so make sure you consider all other options before applying.

Pros

  • Get funded in as little as 2 minutes
  • Accepts CCB, disability tax credit, OAS, CPP and private pensions
  • e-Transfer or direct deposit available
  • Get approved 24/7

Cons

  • Very expensive
  • Short repayment terms
  • $500 limit for first-time borrowers

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is GoDay?

GoDay is an online-only lender that offers fast loans through a simple, paperless application. The company has been in business since 2012, headquartered in Toronto, Ontario.

GoDay offers two types of loans:

  • Payday loans. You can borrow up to $1,500 with a short-term payday loan and get funded in as little as one hour of being approved.
  • Installment loans. Loan amounts of up to $15,000 are available with terms ranging from 6 to 60 months.

Is GoDay legit?

Yes, GoDay is a licensed payday lender and a member of the Canadian Consumer Finance Association (CCFA). It has physical offices in Toronto, Vancouver, Calgary, Regina, Fredericton and Halifax with an active social media presence on Facebook and Twitter. It’s also Better Business Bureau accredited.

GoDay payday lending licences

  • Alberta licence: 347297
  • BC licence: 67513
  • Manitoba licence: 77938
  • New Brunswick licence: 170060377
  • Nova Scotia licence: 242482555
  • Ontario licence: 4726423
  • PEI licence: 41825
  • Saskatchewan licence: 316782

GoDay payday loan features

FeatureDetails
Loan amount$100 – $1,500
Loan termUp to 62 days
Serviced provincesAB, BC, MB, NB, NS, ON, PEI, SK
Interest rateVaries by province
RepaymentsBy your next payday or in installments depending on where you live
FeesIf you default on your loan, you may be charged NSF fees and late fees.
Eligibility requirements- Canadian resident over the age of 18
- Valid email address and phone number
- Have an open bank account with a Canadian bank or credit union

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How long does GoDay take?

If you’re applying for a payday loan, it takes about five minutes to complete an application. GoDay offers instant decisions, and your loan can be funded by e-Transfer in as little as 2 minutes after approval.

It also takes around five minutes to apply for a GoDay installment loan, while instant pre-approvals are also available. However, the exact processing time for this type of loan is not specified.

What we like about GoDay payday loans

  • Easy online application. It will take you a few minutes to apply for a GoDay payday loan or installment loan. You also won’t need to visit a physical location or storefront to verify your identity or receive your money.
  • Fast approval. You can apply online 24/7 and receive instant pre-approval from GoDay’s automated system.
  • Fast access to funds. If you accept your loan contract, you should get funded via Interac e-Transfer within an hour of being approved.
  • Bad credit is OK. If you have bad credit or no credit, you can still qualify for a payday loan.
  • Wide range of income types accepted. If you receive income from CPP, OAS, child tax benefits, disability income or other government benefits, you can still qualify. You just need to prove you receive a steady source of income and can afford loan repayments.
  • No collateral required. You won’t have to secure your loan with any assets like your home or vehicle.

What to watch out for

  • Sky-high fees. Payday loans have extremely high fees. Depending on where you live, a payday loan will cost you $14 to $17 for every $100 borrowed.
  • Short repayment period. You’ll typically need to repay a payday loan by your next payday. This results in extremely high loan APRs and can make it very difficult to budget for repayment.
  • Limits for first-time borrowers. First-time customers can only get approved for loans of up to $500.
  • Automatic withdrawals. Your loan repayment will automatically be taken from your bank account on your due date, which means you have to budget accordingly to avoid late charges.
  • No mobile app. Unlike some other online lenders, GoDay doesn’t offer a convenient mobile loan app.
⚠️ 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. 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. Maximum borrowing costs will vary by province. Review the maximum borrowing cost for your province before entering into a loan agreement.

Compare payday loans

1 - 7 of 7
Name Product CAFSL Loan Amount Loan Term APR Turnaround Time Serviced Provinces Offer Table description
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.
Cashco Financial Payday Loans
$100 - $1,500
Up to 62 days
Varies by province
Same day approval
AB, BC, ON
Get quick access to funds based on your income. Active bank account required. All income types accepted.
Venue Financial Payday Loans
Venue Financial Payday Loans
$200 - $1,500
Up to 62 days
Varies
As little as 2 hours with INTERAC e-Transfer
BC
Apply online in minutes and borrow up to $1,500. Available to BC residents over 18 with a valid email, phone number, and an active bank account. Receive funds quickly with flexible repayment options.
Go to site
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.
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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Summary of GoDay reviews

GoDay reviews are generally positive. Customers who leave positive feedback mention factors like a quick and easy application process, fast access to funds and helpful customer service. Those who leave negative reviews complain about issues like slow approvals and funding.

FeatureDetails
BBB accreditedYes
BBB ratingA
BBB customer reviews1.56/5 based on 9 GoDay reviews
Trustpilot score4.4/5 stars based on 3,080 GoDay reviews
Google reviews3.7/5 stars based on 347 GoDay reviews

Customer reviews verified as of August 27, 2024.

How much can I borrow with a GoDay loan?

The amount you borrow varies depending on where you live and whether you apply for a payday or installment loan.

  • Payday loan. Loan amounts range from $100 to $1,500, with first-time borrowers limited to $500. Other limits may apply depending on where you live.
  • Installment loan. You can borrow amounts ranging from $1,000 to $15,000.

Can I get a GoDay loan with bad credit?

Yes, you can qualify for a GoDay payday loan if you have bad credit. Rather than focusing on your credit score, GoDay will assess your employment and income situation. If you receive a steady source of income, whether from employment or from government, tax or pension benefits, it’s possible to get approved.

Am I eligible for a GoDay loan?

To be eligible for a GoDay payday loan, you need to:

  • Be a Canadian resident
  • Be the age of majority where you live
  • Have an active Canadian bank account
  • Get paid by direct deposit and receive a steady source of income
  • Have a valid email account and phone number
  • Live in the following provinces: AB, BC, MB, NB, NS, ON, PEI, SK

What documents do I need to apply?

The application for GoDay loans is paperless, but you’ll need to provide your personal and contact details, bank account information and employment and income details.

How do I apply for a GoDay loan?

You can apply for a payday loan from GoDay by completing the following steps:

  1. Head to the GoDay website, select Apply now and choose your province from the dropdown menu.
  2. Using the sliding scale, decide how much you’d like to borrow. Remember that first-time borrowers with GoDay can only qualify for $500.
  3. Provide your name, email address, date of birth, marital status, Social Insurance Number, mailing address, years at this residence and your phone number.
  4. Enter your employment details as well as information about your monthly rent or mortgage payment.
  5. Review and submit your application.

How much will a GoDay loan cost me?

The cost of your GoDay loan depends on where you live and how much you borrow. As an example, if you’re an Ontario resident and you borrow $500 over 14 days, your GoDay loan will cost $75 in fees ($15 for every $100 borrowed), which works out to a total repayment cost of $575 and an APR of 391%.

Bottom line

GoDay is a licensed payday lender that offers an easy online application process and fast access to funds. It’s well worth checking out if you need a quick payday loan. But payday loans are extremely expensive and have very short repayment periods, so make sure you consider all other alternatives before deciding whether to apply.

Frequently asked questions

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