In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
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Money Direct payday loans review

  • Leanne Escobal's headshot
Money Direct Payday Loan
Varies by province
Loan Amount
$100 - $1,500
Loan Term
7 - 62 days
Turnaround Time
Within minutes
Serviced Provinces
All information about Money Direct Payday Loan has been collected independently by Finder. Finder is not connected with Money Direct products, and this page is not sponsored, endorsed or administered by, or associated with, Money Direct. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Get a loan fast from a licensed payday lender, but watch out for very high fees.

Money Direct offers online and in-store payday loans. Apply with bad credit or no credit history, but be prepared to pay extremely high fees and to repay the loan by your next payday.

Money Direct does not offer 24/7 instant loans, so look elsewhere if you're applying outside standard business hours.


  • Flexible eligibility requirements
  • Online or in-store applications
  • No credit check


  • Extremely expensive
  • No 24/7 instant approvals
  • No 24/7 funding

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Money Direct?

Money Direct is a payday lender that lets you borrow up to $1,500. The company was founded in May 2008 and is licensed to operate in BC, ON, NS.

On top of payday loans, Money Direct also offers cheque cashing and money transfer services.

Money Direct payday loan details

Loan amount$100–$1,500
Loan termBy your next payday, up to 62 days
Borrowing fee
  • $15 for every $100 borrowed in Ontario
  • $15 for every $100 borrowed in BC
  • $15 for every $100 borrowed in Nova Scotia
Serviced provincesBC, ON, NS (possibly more provinces serviced online)

Is Money Direct legitimate?

Money Direct is a licensed franchise that operates storefronts in several major Canadian cities. It has been in operation since 2008 and has a professional website and LinkedIn profile. It also has several customer and staff reviews on sites like Google, Yelp and Indeed.

What we like about Money Direct loans

You can take advantage of the following benefits with Money Direct payday loans:

  • Fast application. Apply online in under 5 minutes.
  • Instant cash. Get cash in hand within minutes as long as you qualify.
  • No collateral. There’s no need to put assets on the line to secure your loan.
  • Bad credit can apply. There are no credit checks with payday loans.
  • Online or in-person. Apply for a loan online or in-person at select locations in BC, ON, NS.
  • No need to be employed. This lender accepts payroll-based incomes, including CPP, EI and WSIB.

What to watch out for

Watch out for the following drawbacks before getting a loan with Money Direct:

  • Extremely high fees. You’ll pay fees of $15 to $17 for every $100 borrowed, plus additional fees for missed payments.
  • Quick repayment. You’ll need to repay your loan amount plus fees by your next payday. Before you apply for a payday loan, make sure you can repay your loan by your next payday and you’ll have enough money left to pay for other debts and expenses.
  • Low amounts. You can only borrow up to $1,500 at one time.
  • Potentially slower than other lenders. Money Direct does not offer instant approvals or funding 24/7, unlike other payday lenders.
iCash Payday Loan

Get a payday loan from iCash

  • 24/7 instant approvals
  • 24/7 e-transfer funding
  • Flexible eligibility requirements

Am I eligible for a Money Direct loan?

You may be eligible for a Money Direct loan if you meet the following criteria: Canadian citizen, age of majority, bank account, source of income.

Required documents

Submit the following documents to get a Money Direct payday loan:

  • Valid passport or driver’s licence to prove your identity
  • Your current updated bank statement (dated with the day of application)
  • A blank cheque or pre-authorized debit from your bank
  • Your most recent pay stub
  • Proof of address such as a utility bill or cell phone bill

How to apply

You can apply for a Money Direct loan by following these steps:

  1. Click the green ‘Go to site’ button above to be securely redirected to the Money Direct website.
  2. Select the location nearest you or select “Click here” to fill out an online application if you don’t live within driving distance of a physical location.
  3. Input contact information such as full name, address, phone number and email.
  4. Provide income and employment information including your job address, net income, pay frequency and date of next paycheque.
  5. Click next and then sign in through your bank to authenticate your account.
  6. From there, a Money Direct agent should contact you about your loan application and provide you with a loan decision.

How much will a Money Direct loan cost?

You’ll pay fees starting at $15 for every $100 borrowed. But depending on where you live, you could pay more. Check out the maximum borrowing costs for your province below to see how much you might pay in your area.

Representative example: Julia gets a Money Direct loan in Ontario

Julia visits a Money Direct store in Toronto and applies for a $500 loan. Her next payday is in 14 days and she must repay the loan at that time. At a rate of $15 for every $100 borrowed, Julie will have to pay an additional $75 to borrow $500 for 14 days (or an APR of 391.07%). She will repay $575 on her payday.
Payday loans in Ontario

Bottom line

  • Money Direct offers payday loans up to $1,500, which you have to repay by your next payday.
  • Expect to pay extremely high fees.
  • Service is available online and in person at select locations in BC, ON, NS.

Frequently asked questions

Your reviews

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