Pay advance apps in Canada: Get an instant loan

Do you need a small amount of cash in a short time frame? Compare fast pay advance apps in Canada to find the right fit for you. These apps let you get instant loans of $25, $50, $100 or more online, with most offering e-Transfers directly to your bank account. Learn more about how they work and what you need to qualify.

Compare cash advance apps in Canada

Pay advance app	Loan amount	Cost	Instant loan?
	$100 – $1,500	Varies by province (refer to the table below for rates by province)	Yes	Go to site Learn more
	$100 – $1,500	Varies by province (refer to the table below for rates by province)	Yes	Go to site Learn more
	Up to 50% of your daily pay each day if you sign up for Instant Pay (pay advance service) or up to $50 if you sign up for Cover (overdraft protection service)	Free for Instant Pay, $5 per month for Cover	Yes, with a Koho savings account. Other requirements apply.	Learn more
	Up to $150	Free with no interest, but they ask you to tip if you can	Within 8 hours for the express option (small fee) and up to 3 days for standard delivery	Learn more
	$30 – $150	$4.99 - $7.99 per month	Within 8 hours for the express option (small fee) and up to 3 days for standard delivery	Learn more

iCASH cash advance app

• How it works. The iCASH app lets you quickly and easily access up to $1,500. Simply download the app, complete an online application, input your banking information and get a loan starting at $100 nearly instantly through the iCASH app in Canada.
• Turnaround time. It’s an automated process, so you can receive an e-Transfer in as little as 5–10 minutes after you apply.
• How to qualify. You will need a minimum net income of $800 per month and be employed with the same job for at least 3 months. You’ll also need to have a Canadian bank account that’s been open for at least 3 months and provide one reference (family member, friend or work colleague).
• Serviced provinces. BC, Alberta, Manitoba, Ontario, Nova Scotia, New Brunswick and Prince Edward Island.
  
• Is iCASH legit? iCASH is a direct and licensed lender that has been in operation since 2016. It has a highly-rated mobile app, and you can find licence information for each province listed on the website.

Go to site

iCASH payday loan review

Cash Money cash advance app

• How it works. You can download the Cash Money app from the Apple Store or Google Play. To get an instant money loan as low as $100, you’ll first need to go to the Cash Money website on your phone, tablet or computer to complete an online application and get your funds through e-Transfer, direct deposit or cash pick-up. You can then head to the Cash Money app to manage your loan account and make payments.
• Turnaround time. It’s an automated process, so you’ll receive funds in as little as 15 minutes.
• How to qualify. You’ll need a chequing account in your name and show proof of recurring income. You’ll also need to provide employer information and contact details, including a working phone number and a valid address.
• Serviced provinces. BC, NL, NS, ON, SK.
• Is Cash Money legit? Cash Money is a member of the Canadian Consumer Finance Association, has been in business since 1992 and has helped nearly 1.2 million Canadians with their short-term cash needs. However, its licensing information isn’t easily accessible on the website and the app has poor ratings on the Apple Store.

Go to site

Cash Money cash advance loan review

KOHO pay advance app

• How it works. KOHO Instant Pay is a free payroll benefit that lets you access 50% of your pay for every day you work. The downside is that your employer has to agree to share your payroll information in order for you to use it. KOHO Cover is an overdraft protection of up to $50.
• Turnaround time. If your employer is signed up for Instant Pay, your advance should be instant. If your employer needs to sign up, it could take several days (or longer).
• How to qualify. To qualify for Instant Pay, you will need to have a KOHO savings account in your name and have your payroll directly deposited into your KOHO Account. You’ll also need to get your employer on board to agree to provide payroll information to KOHO. To qualify for Cover, you’ll need to use various KOHO services.
• Serviced provinces. All provinces and territories.
• Is KOHO legit? KOHO is an established and well-known online bank that’s partnered with Peoples Trust, a CDIC-insured bank.

Go to site

KOHO savings account review

Bree pay advance app

• How it works. Fill out an application and link your banking details through the in-app dashboard. If you’re eligible, you can get a loan up to $150 deposited to your account, which you’ll repay on a date you specify. There are no fees, but you can leave a tip if you like the service. Because Bree is a specialized pay advance app in Canada offering smaller loans, you can choose between varying amounts like $25, $50 and $100 loans, depending on your needs.
• Turnaround time. It can take up to 3 days for standard delivery, or you can get express delivery in up to 8 hours for a small fee.
• How to qualify. You will need to be the age of majority in your province, have a bank account and be willing to link it to the app. You’ll also have to provide proof of direct deposit into your account for at least 2 months and have enough money left over from your paycheque to repay your Bree loan.
• Serviced provinces. All provinces and territories.
• Is Bree legit? Bree is a Y Combinator startup that was launched in 2021. It was founded by two former employees in investment banking. Bree has LinkedIn and Crunchbase profiles, and its privacy policy states that it doesn’t sell your information to third parties. That said, it has a handful of mixed Bree reviews on Facebook, and no reviews anywhere else to bolster its legitimacy.

Bree pay advance app review

Nyble pay advance app

• How it works. Fill out an application to borrow between $30 and $150 interest-free for your first loan. Get your funds within 3 business days and pay them back by your next paycheque.
• Turnaround time. It can take up to 3 business days for standard delivery, or you can get express delivery in up to 8 hours for a fee between $2.99 and $5.99.
• How to qualify. You’ll need to be the age of majority in your province, have a bank account and be willing to link it to the app. You will also have enough money left over from your paycheque to repay your Nyble loan.
• Serviced provinces. All provinces and territories.
• Is Nyble legit? It seems to be. According to its website, Nyble is run by Fincentify Inc., which is a registered business in Canada. The company also has a profile on Crunchbase. However, there are no online Nyble customer reviews.

Nyble review

Early payroll advance vs payday loan cash advance: How do they compare?

How to find the best instant money apps

Ask yourself these questions to help narrow down your options to find the best instant money and pay advance app for your needs.

How much do you need to borrow?

Decide how much you need to borrow to cover your expenses before your paycheque comes in. If you need a small amount, like a $50 loan instantly, apps like Koho, Bree and Nyble could be the way to go, although it could take a few hours or days to process. If you need a $100 instant loan or more, look into pay advance options like iCASH and Cash Money.

How much does the loan cost?

A small pay advance from an app in Canada can cost a lot when you factor in fees. Even a 0% interest loan can still come with a monthly fee. Keep in mind that payday loans are very expensive because they cost between $14 to $17 for every $100 borrowed.

How quickly can you get the loan?

If you need an instant money app loan, you’ll probably need to get for a payday loan which usually come with a 24 hour online application, approval and e-Transfer. If you can wait a a few hours or days, you can opt for other types of pay advance apps available in Canada, like Nyble and Bree.

When can you pay it back?

Make sure you can afford to back the pay advance loan before you take it out. If you can’t afford to pay it back, you may end up taking out another loan to pay off your prior loan, which can trap you into a cycle of debt. Repayment on payday loans will typically be automatically withdrawn from your account when your next paycheque is deposited. Other pay advance apps tend to operate the same way, or will allow you to set your own due date.

How do cash advances affect my credit?

Most cash advances that you can get through a pay advance app won’t affect your credit. Your credit score won’t typically go down because pay advance apps in Canada don’t do a hard credit check when you request an advance. Your score won’t typically go up since these types of instant cash apps don’t report your on-time payments to the major credit bureaus.

Am I eligible to use pay advance apps online in Canada?

Eligibility criteria vary between providers, but there are a few basic requirements you need to meet:

• Be the age of majority
• Have an operational chequing account
• Receive a consistent paycheque, usually through direct deposit

Some instant cash app loans may also require you to work for a specific employer or make a minimum amount of money each month to qualify.

How do I repay my instant cash app loan?

Usually, pay advance apps in Canada automatically deduct your funds from your bank account on the due date – which is typically your pay day. The automatic withdrawal comes out when your paycheque is deposited, so you need to make sure you have enough money in your budget to accommodate this.

If you don’t have enough money in your account, some instant cash app loan lenders will hold off on withdrawing your payment to prevent you from going into your overdraft. However, you won’t be able to borrow again until you repay your current advance.

Pros and cons of pay advance apps in Canada

Pros

• Limited costs. Some pay advance apps charge zero interest, and you may only be on the hook for a small monthly membership fee – if that.
• Quick turnaround. You may be able to get your money the same day depending on the instant cash app loan you opt for, although instant transfers usually come with a small fee.
• Budgeting features. Many pay advance apps track your income and spending to give you a heads-up if you risk overdrawing your account.

Cons

• Must be employed. Pay advance apps give you an advance on your paycheque, so you need to be employed to qualify.
• Limited loan amount. The amount you can borrow may be based on the money you’ve already earned – and many are limited to $100 to $500 per loan.
• May pay interest. Some apps charge interest of up to 300% or more if it’s a payday loan.

Alternatives to pay advance apps

• Credit card cash advance. This type of cash advance lets you borrow money from your credit card. You’ll usually pay interest rates of 21.99–23.99% and the amount you owe will go onto your regular balance. You can take out a credit card cash advance instantly from an ATM, just as you would withdraw cash with a debit card.
• Installment loans. Installment loans let you borrow larger amounts, often between $500 and $10,000. You’ll have 6 - 60 months to repay your loan and you’ll pay lower interest rates than you would with a payday lender, depending on your credit score. Lenders offer this type of instant personal loan often through apps where you can get your money transferred to you within hours or days of applying.
• Overdraft. You can get overdraft protection with your bank account to ensure you don’t get charged fees if you overdraw your account. Limits can go up to $5,000 and you’ll pay interest on any amount you borrow in addition to paying a monthly fee.

Frequently asked questions about instant loan apps

• Which app gives a loan instantly in Canada?

  Some examples of payday loan and pay advance apps that give loans instantly in Canada are iCASH, Nyble and Koho. Learn more about these and other instant loan apps in our full breakdown above.

• What is an early payroll loan?

  An early payroll loan lets you borrow funds through an instant cash app that works with your employer to give you early access to part of your paycheque. These apps let you borrow money interest-free against funds you've already earned through work. An example of an early payroll loan service in Canada is the KOHO pay advance app.

• What app will let me borrow money instantly?

  It depends on how much you need to borrow. Apps like iCASH and Cash Money let you borrow up to $1,500 instantly, though you'll pay extremely high fees. With pay advance apps like Nyble and Bree, you can borrow up to $100 within 8 hours of applying, if you pay a small fee for an instant transfer.

• Can you borrow using Cash App in Canada?

  It doesn't seem like you can borrow funds using Cash App in Canada. With a Cash App account, you can receive paycheques up to 2 days early but you can't borrow funds against your paycheque.