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5 loans like Speedy Cash

Find payday loans with speed and convenience just like this popular lender.

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Bree Early Pay

Bree Early Pay logo
  • Access up to $250
  • No interest or required fees
  • No credit check required
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If you’re looking for a payday lender that prioritizes speed and convenience, Speedy Cash fits the bill. But there are other payday lenders that can get the job done, too. Here’s a look at alternatives that are similar to the Speedy Cash payday loan in Canada but may better suit your needs. Bear in mind, payday loans are one of the most costly ways to borrow money, and should be used as a last resort.

⚠️ 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. 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.

If you’re looking for a small, flexible loan: Nyble

Nyble Credit Line
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Nyble Credit Line

$30 – $150
Loan amount
Starting at 0%
APR
30 days, extendable
Term
Apply online for an interest-free line of credit of up to $150 to cover small expenses and build your credit. Get funds in 1-3 business days with a free account. For $11.99 per month, get access to premium services, including funding in 1-30 minutes, a free Equifax credit report and identity theft protection.
  • Easy application process
  • No credit check
  • No interest
  • Can improve your credit score
  • Roll over your loan
  • $11.99 per month for fast transfers, full credit report and other premium perks
  • Small loan amounts only
Loan amount $30 – $150
APR Starting at 0%
Term 30 days, extendable
Fees No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding
Turnaround time 1-30 minutes with a paid membership or 1-3 business days with a free membership.

If you’re looking for 24/7 e-Transfer: iCash

iCash Payday Loan

$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
Sometimes you need access to cash and can't wait until the next business day. If you're in a lurch, keep iCash in your back pocket. iCash operates 24/7, 365 days a year, using software that can review your application at all hours of the day to provide instant approval. Once you've signed your contract, iCash will send your funds in minutes via INTERAC e-Transfer. (Speedy Cash doesn't have 24/7 support.)
  • Easy online application
  • Instant decisions and pre-approvals
  • 24/7 customer support and e-Transfers
  • Bad credit or no credit doesn't matter
  • Incredibly high fees
  • Quick repayment terms
  • No in-person interaction
Loan amount $100 – $1,500
APR Varies by province
Term 7 - 62 days
Min. Turnaround time As little as 2 minutes with INTERAC e-Transfer®
How to apply Online
In Store
Credit Check Yes

If you’re looking for no credit check: Bree

Bree Early Pay
Not yet rated
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Bree Early Pay

$20 – $250
Loan amount
Starting at 0%
APR
Next pay cycle (61 days max.)
Term
If you're worried that a credit check may bar you from getting qualified for a loan, try Bree, which offers zero-interest small loans without a credit check. You can still qualify even with bad credit or no credit at all. The application instead focuses on your income and ability to repay the loan.
  • Instant approval and funding available
  • 0% interest
  • Fee required for instant funding
  • small amounts only
Loan amount $20 – $250
APR Starting at 0%
Term Next pay cycle (61 days max.)
Fees No interest or fees to access cash advance, fee for express funding (varies based on advance)
Turnaround time Within 8 hours for the express option (fee charged based on advance amount) and up to 3 business days for standard delivery

If you’re looking for an instant decision: GoDay

GoDay Payday Loan

$100 – $1,500
Loan amount
1 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
GoDay is an online-only payday lender so your application is done via a paperless application. Once you submit your application, you'll receive a decision within seconds. GoDay accepts many types of income, including employment, Canada Child Benefit, private and government disability income, OAS, CPP and private pensions.
  • Easy online application
  • Instant pre-approval decision
  • Many types of income accepted
  • Sky-high fees
  • Caps on how much you can borrow ($1,500)
  • No in-person interaction:Late and NSF fees
Loan amount $100 – $1,500
APR Varies by province
Term Up to 62 days
Min. Turnaround time As little as 2 minutes with INTERAC e-Transfer®
How to apply Online
In Store
Credit Check Yes

If you’re looking for flexible income requirements: Cash Money

Cash Money Payday Loan

$100 – $1,500
Loan amount
5 – 40 days
Loan Term
15 minutes
Min. Turnaround Time
Whether you're a freelancer, or you rely on government benefits, a pension, or other sources of income, you can turn to Cash Money to get approved for a loan. It accepts many recurring sources of income, including EI, pension, disability, Canadian Child Benefit and more, so you don't necessarily need to be employed to apply for a loan. You will need proof of income, such as bank statements.
  • Apply online, in-store or over the phone
  • Receive funding minutes via INTERAC e-Transfer
  • Accepts various forms of income
  • Incredibly high fees for every $100 borrowed
  • Quick repayment terms
  • Unavailable across Canada
Loan amount $100 – $1,500
APR Varies by province
Term 5 - 40 days
Min. Turnaround time As little as 15 minutes with INTERAC e-Transfer®
How to apply Online
In Store
Credit Check Yes
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $15 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Is Speedy Cash legit in Canada?

Speedy Cash has a payday loan licence for each province it operates in, so it’s legit. You can find its registration by visiting the provincial government sites.

How does Speedy Cash compare?

Speedy Cash shares similar features to its contenders, such as:

  • Loan amount caps. Apply for a payday loan between $250 and $1,500, depending on your income.
  • Many types of income accepted. Qualify with income from employment, employment insurance, child tax benefit and seniors’ pension.
  • Quick access to funds. You can get your Speedy Cash payday loan within 1 hour to 1 business day via e-Transfer or direct deposit.
  • Easy application. Just like its competitors, you can apply for a Speedy Cash loan quickly online. It also has physical storefronts if you prefer applying in person, too.

Features of loans like Speedy Cash

Across the board, payday loans like the one provided by Speedy Cash in Canada includes features, such as:

  • Caps on how much you can borrow. With payday loans you can only borrow up to $1,500, so if you need more cash, this may not be your best option. Consumers in some provinces also can’t borrow more than 30% or 50% of their net income, and some lenders cap how much you can borrow on your first loan.
  • Short repayment terms. As indicated in their name, you’re typically required to pay back your loan by your next payday, or up to 62 days, depending on the province you live in. When you apply for a loan, the lender asks you how frequently you’re paid to determine your final repayment due date.
  • Bad credit doesn’t matter. You can apply with bad credit or no credit at all. That’s because payday lenders shift the emphasis from your credit score to your ability to repay your loan. Make sure you can prove you have a stable income and you should be in the clear.

Downsides of loans like Speedy Cash in Canada

On the whole, borrowers must tread carefully with payday loans like the one on offer from Speedy Cash for these key reasons:

  • Incredibly steep interest rates. Payday lenders charge excessive fees, ranging between $14 to $17 for every $100 borrowed, depending on the province you live in. That’s an annual percentage rate (APR) of 400% or more. This makes payday loans one of the most expensive ways to borrow.
  • Short repayment terms. Make sure your budget can accommodate a loan repayment by your next pay day. With payday loans, terms typically cap out at 62 days with most lenders expecting you to repay your loan by your next payday.
  • Disreputable lenders. The payday lending space is rife with predatory lenders. Check to make sure the payday lender you’re working with is licensed and follows provincial or territorial laws and regulations.
  • Increases your chances of staying in a cycle of debt. The combination of sky-high fees and quick repayment terms could spark a snowball of debt if you don’t have a clear-cut plan to pay off your loan. If you miss a payment, the fees worsen and this could have a negative effect on your credit rating too.

Bottom line

If you’re thinking about taking out a payday loan, Speedy Cash is a solid choice for a quick and seamless process. But there are other lenders worth checking out too during your comparison shopping. Remember: payday loans should be a last-resort option – if you can qualify for a personal loan, line of credit or installment loan, these will have lower interest rates and better terms.

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