No Instant Bank Verification (IBV) Loans in Canada

Many lenders use instant bank verification (IBV) to process applications quickly. It involves getting view-only access to your bank statements. It does not involve getting your login and password details and then gaining access to your bank account—as long as the lender is legit.

IBV is advertised as secure, but if you’re looking for no bank verification loans in Canada, these lenders let you manually submit documents instead.

Compare no bank verification installment loans

These installment loan providers offer no IBV loans, manually reviewing applications the traditional way without requiring you to log in to online banking. Depending on the lender, you could get approved the same day or within several business days.

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Finder Score	APR Range	Loan Amount	Loan Term	Broker Compliance	Key Features
Promoted Finder score 8.8 Great LoanConnect Personal Loan	Finder score 8.8 Great	8.99% - 35.00%	$500 - $60,000	3 - 120 months	Note: LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.	Key features: Loan search platform for all credit scores	Go to site More info Compare product selection Compare	loading
Promoted Finder score 8.6 Great Loans Canada Personal Loan	Finder score 8.6 Great	8.99% - 35.00%	$500 - $50,000	4 - 60 months	Note: Loans Canada is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.	Key features: Loan search platform with the largest lender network	Go to site More info Compare product selection Compare	loading
Promoted Finder score 8.5 Great Fat Cat Loans Personal Loan	Finder score 8.5 Great	6.99% - 35.99%	$300 - $50,000	3 - 84 months	Note: Fat Cat is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.	Key features: Loan search platform for all credit	Go to site More info Compare product selection Compare	loading

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Compare no bank verification payday loans in Canada

Payday loans are much easier to qualify for than personal loans but are much more expensive and have much shorter terms. You can borrow up to $1,500 to be repaid on your next payday. One of the most expensive loans available, you’ll pay $14 for every $100 borrowed.

Many lenders operate entirely online and don’t accept manually submitted documents, but you can get payday loans with no bank verification from these lenders that let you submit documents online or in person at a local store.

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Cost	Loan Amount	Loan Term	Key Features
Money Mart Payday Loan	$14 per $100 borrowed	$100 - $1,500	1 - 62 days	Key features: In-store and online no credit check loans, accepts many income types	More info Compare product selection Compare	loading
Cash Money Payday Loan	$14 per $100 borrowed	$100 - $1,500	5 - 40 days	Loan discount on your very first $300 payday loan at $20 borrowing cost (excludes Saskatchewan). T&Cs apply.	Key features: Instant approval, accepts bad credit	More info Compare product selection Compare	loading
Loan Express Payday Loan	$14 per $100 borrowed	$100 - $1,500	Up to 62 days	Key features: Instant loans 24/7, no credit check	More info Compare product selection Compare	loading

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What is IBV and why do lenders use it?

Lenders use instant bank verification to examine a borrower’s finances during the application process. The applicant logs in to their bank account online using a securely encrypted portal, such as Flinks or Plaid, and authorizes their bank to send relevant account information to the lender. It’s a fast, seamless way to send the information needed to get approved.

For lenders that don’t require IBV, you can verify your application details by emailing or uploading copies of recent bank statements, utility bills, pay stubs or tax Notices of Assessment. You might also have to submit copies of your passport, driver’s licence or some other form of government-issued photo ID.

Where can I get no IBV loans?

You can get no IBV loans from online lenders that offer the traditional manual review, such as Money Mart and Loan Express. (Learn more about loans like Loan Express.)

You can also walk into a branch with your documents and get in-person service. Lenders with branches include Money Mart, Usolve, Cash Money, easyfinancial and Fairstone.

Can I get instant approval with a no IBV loan?

Unfortunately, no. Many lenders use IBV specifically because it allows them to quickly and securely review an application and provide instant approval. If you don’t go through IBV, you’ll need to wait a few hours, at minimum, to get approval.

Pros and cons of loans with no IBV

There are a few advantages and disadvantages to consider with no bank verification loans:

Can I get no credit check, no bank verification loans in Canada?

Yes, there are lenders that offer no credit check and no bank verification loans. However, they’ll need you to email or upload your documents. Avoid lenders that don’t review your finances at all, because this is most likely a scam. A legitimate no credit check lender will first check that you have the income to repay a loan before giving approval.

Can I get e-Transfer loans with no bank verification?

You can get e-Transfer loans from payday lenders that offer a manual review of your documents instead of IBV, such as Loan Express and Money Mart. Payday lenders are a lot more likely to offer e-Transfer funding than installment loan lenders.

Are there payday loans with no bank verification?

Payday lenders that give you the option to apply without IBV include Money Mart, Loan Express and Blue Copper Capital. You’ll need to provide your financial documents to get approved, whether by emailing them, uploading them during the application process or handing them in person. Keep in mind that emailing or uploading documents online is generally less secure than IBV.

Are there loans that don’t require bank statements at all?

Not really. Legitimate lenders need your bank statements, whether through IBV or the manual way, to examine whether you have the means to pay back your loan. KOHO might be an exception, as they don’t require you to have a job or income, but they do need you to sign up for a KOHO account in order to get their loan.

What do I need to apply for no IBV loans?

While eligibility requirements differ from lender to lender, baseline criteria for no bank verification loans in Canada typically include residing in the country, being the age of majority in your province or territory (18 or 19), having a bank account and receiving a steady source of income.

During the application process, you’ll likely be asked to provide the following to verify your income and identity:

• A valid government-issued ID (passport, driver’s licence, citizenship card) with your full name
• Proof of address (utility bills, letters from the government, etc.)
• Contact information including your phone number and email address. A valid email is needed so you can receive funds by Interac e-Transfer.
• Proof of income (letter of employment, pay stubs, bank statements showing a steady source of income). Recent tax returns or income tax statements might be required to show your net and gross income amounts.
• Your bank account information (chequing account, routing and institution numbers) is needed to set up automatic withdrawals to repay your loan.

How to choose a no IBV loan

Before you apply, take these steps to find the best financing for your needs:

• Choose between a no bank verification payday loan or installment loan. A payday loan is faster and easier to get, but it’s usually more expensive than an installment loan.
• Check that you’re eligible. Even if you have excellent credit and a high income, you might not be eligible. Some lenders don’t operate in every province, while others won’t work with self-employed applicants.
• Compare interest rates. Interest rates are the most important factor to consider when getting a loan. Shop around to see which lenders will provide you with the most competitive rate.
• Watch out for extra fees & charges. Fees can drive up the true cost of your loan. Find out if your lender charges loan origination fees, NSF fees or early prepayment penalties.
• Check terms and repayment options. These determine how you’ll repay your loan over a set period of time. Aim for a lender that allows negotiations if your financial situation takes a turn for the worse.
• Read customer reviews. Look at reviews from clients on Trustpilot or the Better Business Bureau website. A pattern of complaints could be a red flag.

Are Canadians open to applying to a nontraditional lender?

According to the Finder: Consumer Sentiment Survey January 2025, almost 1 in 5 Canadians (18%) are either likely or very likely to apply to a nontraditional lender to see its offer, whereas almost half of Canadians (48%) are unlikely or very unlikely.

Is bank verification safe?

It is, especially when you’re working with a legitimate lender and established bank verification technology. For example, Montreal-based Flinks pulls financial data from millions of Canadian accounts for companies like Wealthsimple and National Bank to verify customers’ identities. Inverite calls itself the “first Canadian-designed real-time bank verification service,” helping over 280 financial institutions quickly and securely connect with users’ financial data.

During the verification process, your lender is simply gathering:

• Your legal name and contact information tied to your bank account
• Your bank account number
• Transaction history, including monthly direct deposits for income verification

How does the bank verification process work for loans?

Bank verification loans are pretty straightforward, with lenders guiding applicants through the process on their website. Here’s a step-by-step look at what to expect:

1. Start your application. Once you’ve narrowed down your search and found the lender and loan you’d like to apply for, head to the lender’s website.
2. Fill in the prompts. During the application process, lenders will ask for your full name, contact information and employment and income details.
3. Start the bank verification route. Verify your application details by logging into your bank account via an encrypted portal like Flinks or Inverite. Your lender will provide security details, noting that it will only access your information for the loan application.
4. Log in to your bank account via the portal. Once you agree to bank verification, follow the prompts to log in to your bank account. Typically, these portals will list Canada’s major banks. Select yours from the list to load the login page.

Bottom line

These days, applying for a loan couldn’t be easier. Instant bank verification is one of the quickest and easiest ways to submit key financial information to your lender. But if you prefer a no bank verification loan, make sure you have all the necessary documentation to seamlessly apply.

Frequently asked questions

• Can you get instant payday loans without bank verification?

  No. Online bank verification is the fastest way for payday lenders to verify your income and identity, and it's what allows these lenders to give instant approval and funding.

• Are there financial institutions that don't connect with bank verification portals?

  Banks and credit unions will typically connect with bank verification portals, though there are some fintech companies, like KOHO, that may not. Learn more about loans that accept KOHO.

• Can you get payday loans with no bank account?

  Unfortunately, it'll be difficult to get payday loans with no bank account. At minimum, payday lenders require that you have an active bank account and recurring income.

To make sure you get accurate and helpful information, this guide has been edited by Stacie Hurst as part of our fact-checking process.

Written by

Leanne Escobal

Publisher

Leanne Escobal is a publisher at Finder with more than 12 years of experience in financial products and services, with a focus on content strategy and marketing. She has completed the Canadian Securities Course (CSC®) as well as the Personal Lending and Mortgages course through the Canadian Securities Institute. Leanne holds a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio

Leanne's expertise

Leanne has written 175 Finder guides across topics including:

• Personal Loans
• Car Loans
• Business Loans
• International Money Transfers
• Make Money Online

Co-written by

Carmen Chai

Writer

Carmen Chai is a freelance writer at Finder, specializing in financial products. She is an award-winning Canadian journalist who has lived and reported from major cities such as Vancouver, Toronto, London and Paris. She has reported on personal finance, mortgages, and banking products for nearly a decade. See full bio