Speedy Pay review
Our verdict
Get a same-day payday loan online, but watch out for the high cost of borrowing.
Speedypay.ca is an online lender that offers payday loans in AB, BC, MB, ON and SK. You can apply online and get fast approval from Speedy Pay's automated system. Same-day funding is also available. The lender also accepts a wide range of income types and sends out loan amounts quickly via e-Transfer and direct deposit.
But payday loans are expensive and have a very short repayment period, so make sure you can afford to repay what you borrow before deciding if a payday loan is right for you.
What is Speedy Pay (Speedypay.ca)?
Speedy Pay is an online lender that lets Canadians apply for payday loans 24/7. It uses an automated system to assess and approve your application, and it’s possible to get approved and receive your funds via e-Transfer in as little 5 minutes.
Speedypay.ca payday loans are designed to be repaid on your next pay date. The funds will be automatically deducted from your nominated bank account on the due date.
Is Speedypay.ca legit?
Speedypay.ca was licensed as a payday lender in Ontario, but the licence expired on February 10, 2026, and Speedypay.ca hasn’t posted an up-to-date licence yet. We also couldn’t find Speedy Pay’s licence number for any of the other provinces it services.
Its website lists phone and email contact details as well as a privacy policy and terms and conditions.
It is not accredited with the Better Business Bureau and has minimal customer reviews online.
What we like about Speedy Pay
- No paperwork required. You can apply online without having to upload a long list of documents.
- Fast pre-approval. The lender uses an automated approval system to give you a fast decision on your application.
- Same-day funding. You can apply and get funded the same day, with loan funds disbursed via e-Transfer. Learn more about same-day loans.
- Wide range of income types accepted. In addition to employment income, Speedypay.ca also accepts child tax credits, EI, ODSP benefits and pensions.
- All types of credit. Bad credit won’t necessarily stop you from getting a loan, as Speedypay.ca also considers other factors like your income and payment history when assessing your application.
What to watch out for
- Expired licence. At the time of writing, Speedypay.ca is only showing an Ontario payday licence that expired on February 10, 2026.
- Expensive loans. You’ll pay Payday loans are High-Cost Loans.
The maximum total cost of borrowing permitted in provinces for a payday loan is $14 per $100 borrowed.. - Short repayment period. Speedypay.ca payday loans are designed to be repaid on your next pay date, and this short turnaround time makes it difficult to budget for your loan repayment.
- Areas served. Speedypay.ca claims to offer payday loans in several provinces, including Alberta and BC, but we couldn’t find payday lender licence details for Speedypay.ca in either Alberta or BC.
- Credit check. Speedypay.ca may conduct a credit check as part of the application process.
- First-time limit. As a first-time borrower, the maximum amount you can borrow is $750.
- Not available everywhere. If you don’t live in AB, BC, MB, ON and SK, you’ll need to consider other lenders.
Alternative: Cash advances
Cash advances can be much cheaper, with APRs as low as 0% and flexible repayment terms. Fees apply for instant funding.Instant Transfers
- 0% + monthly fee from $2
- Borrow $20 – $250
- Flexible terms
- No credit check
High Maximum Limit
Builds Credit
Summary of Speedy Pay reviews
| Site | Details |
|---|---|
| Trustpilot | 2.9/5 based on 4 reviews |
| N/A | |
| BBB accreditation | No |
| BBB rating | A |
| BBB reviews | N/A |
Reviews as of August 18, 2026.
How to get a payday loan from Speedy Pay
To qualify for a loan from Speedy Pay, you will need to:
- Have a valid email account and phone number
- Be a Canadian resident
- Be 19 years of age or older
- Have a valid Canadian bank account that’s at least 3 months old
- Get paid by direct deposit
- Have a monthly net income of at least $800
You can apply for a loan by visiting the Speedypay.ca website and selecting Sign up or Apply now. You’ll need to enter your email address and create a password, then provide your personal details and contact information. You’ll also need to provide your income and employment details along with your bank account information.
Bottom line
Speedypay.ca offers fast payday loans. You can apply online 24/7, a wide range of income types are accepted and you can get funded the same day. But it’s showing an expired licence on its website at the time of writing. Additionally, payday loans are very expensive and have a short repayment period, so make sure you’re aware of the total cost of borrowing and consider a range of payday loan alternatives before applying.
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