Are payday loans legal in Quebec?

Yes, payday loans are legal in Quebec, but lenders must abide by very strict regulations to operate in the province. Severe payday loan restrictions in Quebec have made it unprofitable for many providers who operate in other parts of Canada to operate in Quebec.

Who can I contact if I have a complaint about my short-term loan?

You can file a complaint with Consumer Protection Quebec if you suspect that a lender is operating illegally. Lenders that are found to be violating provincial law could face legal consequences, which could include getting licences revoked, paying penalties and settling with customers who have filed civil actions.

Where can I find quick loans in Quebec?

Quick loans in Quebec are available from a number of online and private lenders. These lenders offer short-term installment loans from around $300 to $1,500. Loan terms range from 3 to 6 months. Many offer no credit check loans and will consider your income and employment instead to determine whether you can afford loan repayments. However, high interest rates and fees often apply.

Are e-Transfer payday loans in Quebec available?

No, traditional payday loans aren't available in Quebec due to strict provincial regulations, even via e-Transfer. However, you can access small cash advances through apps such as KOHO, Nyble and Bree. These platforms allow you to receive funds via e-Transfer directly to your bank account, providing a fast and cheap alternative to payday loans.