Wagepay review: Fast 24/7 payday loans
- Cost
- $14 per $100 borrowed
- Loan Amount
- $100 - $1,500
- Loan Term
- Up to 62 days
- Speed
- As little as 2 minutes with Interac e-Transfer
- Serviced Provinces
- BC, ON
Our verdict
Get a fast payday loan 24/7, but watch out for the high cost of borrowing.
Wagepay is a payday lender that offers fast, short-term loans of up to $1,500. You can apply online or via mobile app, there are no credit checks and loans are funded 24/7 via e-Transfer.
Wagepay cash advances are very expensive, so make sure you can afford to repay what you borrow before applying. It's also worth noting that Wagepay is currently only available in BC and Ontario.
What is Wagepay?
Wagepay is an online payday lender that offers loans 24/7. It was founded in Australia in 2020, and it started providing payday loans in Canada in 2023.
Wagepay loans are typically designed to be repaid by your next payday. However, you can repay your loan early if you wish via direct debit or online transfer.
Is Wagepay legit?
Wagepay is licensed as a payday lender in British Columbia (licence number 86410) and Ontario (licence number 4741466).
Its website features an office address, privacy policy and its lending licence numbers.
What we like about Wagepay
- Easy application. You can sign up and apply for a wage advance from Wagepay in less than five minutes.
- Fast access to funds. It’s possible to sign up and get funded in a matter of minutes.
- Get funded 24/7. Your loan amount can be distributed by Interac e-Transfer 24/7.
- Postpone or split. If you’re struggling to make an on-time payment, Wagepay offers a “postpone repayment” feature through its app and web portal. You also have the option to split a repayment into two repayments.
- No late fees. Wagepay does not charge any late fees or NSF fees.
- No credit checks. You don’t need to complete a credit check to qualify for funding, so bad credit won’t stop you getting a loan.
- Licensed. Wagepay is licensed as a payday lender in BC and Ontario.
What to watch out for
- High cost of borrowing. Wagepay charges $14 per $100 borrowed.
- Short repayment terms. You’ll typically need to pay back your loan on your next payday, so make sure you can afford to repay in a short period of time.
- Only in BC and Ontario. If you live anywhere other than BC or Ontario, you’ll need to consider other lenders. However, Wagepay has plans for expansion.
- Relatively new provider. Wagepay was founded in 2020 and has only been offering payday loans in Canada since 2023, so it doesn’t have the same long track record as some other lenders.
- Some features still coming soon. Some Wagepay features such as a loyalty program, tiered pricing and tips on how to improve your creditworthiness are still listed as “Coming soon” on the Wagepay website.
⚠️ 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. 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. Maximum borrowing costs will vary by province. Review the maximum borrowing cost for your province before entering into a loan agreement.Alternatives to Wagepay
Summary of Wagepay app reviews
| Site | Details |
|---|---|
| Trustpilot | 4.1/5 stars based on 121 Wagepay reviews (Wagepay Canada) |
| No Wagepay Canada reviews available | |
| Apple store | 4.5/5 stars based on 152 reviews |
| Google Play store | 4.0/5 stars based on 156 reviews |
| BBB accreditation | No |
| BBB rating | N/A |
| BBB reviews | No Wagepay reviews available |
| Reviews as of | April 23, 2025 |
What do Wagepay reviews say?
People who have used Wagepay in Canada have commented on its fast and quick service. However, there have also been some complaints about tech issues with payments and getting denied.
How to get a cash advance from Wagepay
You can download the Wagepay app or apply online for a cash advance. To qualify you’ll need to:
- Be at least 18 years old
- Be employed and receive a consistent weekly income of at least $400
- Have enough of your income left in your account each pay cycle to afford repayments
- A generally good banking history
You can apply if you are receiving benefits, but you’ll need to also be receiving a wage and meet the other criteria.
You can sign up for a Wagepay account by providing:
- Your name, address, date of birth and contact details
- Your bank account details to provide your income and expense information
- Your Social Insurance Number
Bottom line
Wagepay is well worth checking out if you need a short-term loan fast. It’s easy to apply, you get fast access to funds, and it’s cheaper to repay than most payday loans. But it’s still an expensive way to borrow money, so be sure to look for other alternatives before considering a payday loan.
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