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Speedy Cash Payday Loan review

Need access to money quickly? Speedy Cash could be the right option for you.

If you’re in need of quick money, Speedy Cash offers payday loans, both online and in-store.

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$200 - $1,500

Loan Amount

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Loan Term

Please note: All information about Speedy Cash Payday Loan has been collected independently by Finder and this product is not available through this site.

If you find yourself in need of some extra cash and don’t have access to it, you may consider a payday loan from Speedy Cash. Whether you’re facing a late bill or simply a shortfall in your monthly budget, Speedy Cash can help you make it to your next payday.

How does borrowing from Speedy Cash work?

Speedy Cash is Canadian owned and operated and has a small number of physical branches across 7 different provinces and territories. Conducting most of its business online, Speedy Cash offers payday loans to customers in many locations. The loans from Speedy Cash don’t involve a lengthy application process, and you don’t have to worry about credit score requirements – Speedy Cash will still consider you for a loan even if you have poor credit.

Aside from online and in-person payday loans, Speedy Cash also offers cheque cashing. If you don’t have a bank account or you need a cheque cashed immediately, Speedy Cash provide these services.

Speedy Cash operation locations

Speedy Cash has physical branch locations only in the following provinces and territories:
  • British Columbia
  • Alberta
  • Saskatchewan
  • Nova Scotia
  • Yukon
  • Nunavut
  • Northwest territories
Speedy Cash provides online lending services to the following provinces only: British Columbia, Saskatchewan, Newfoundland and Nova Scotia.

How much could you borrow with Speedy Cash?

You can borrow the following amounts with Speedy Cash:

  • Between $200 and $1,500, or
  • Up to 50% of your income from the following income types: employment income, child tax benefits and seniors’ pension.

What loan products does Speedy Cash offer?

Speedy Cash offers the following services:
  • Payday loans. A payday loan is a loan that usually must be repaid within 2 to 4 weeks. Rules and regulations for payday loans vary between provinces and territories. Speedy Cash offers amounts up to $1,500 or 50% of your income.
  • Cheque cashing. Speedy Cash offers cheque cashing services with a fee of $3.50 plus 3.5% of the cheque. If you don’t have a bank account or you need a cheque cashed quickly, you can cash a variety of different cheques including government cheques, pay cheques, insurance, money orders and other types of cheques.

Why should you consider taking out a Speedy Cash payday loan?

Here are some of the benefits of taking out a payday loan provided Speedy Cash is active in your area:

  • Quick process. The application doesn’t take much time to complete, whether you apply in-store or online. If you apply in-store, you can expect funding in a matter of minutes. With online applications, Speedy Cash typically informs you about your application’s status almost immediately and then transfers funds into your bank account as soon as the following business day.
  • Flexibility to use funds. Once you get access to your approved funds, you can use this money for anything, from paying utility or rent bills to tuition fees or simple budget shortfalls, as long as you use the money for legitimate purposes.
  • Additional services. Speedy Cash offers more than just payday loans. You can also use the service to cash cheques.

The costs of borrowing from Speedy Cash

After Speedy Cash lets you know of your application’s approval, you’ll be provided with loan documents that detail the loan’s terms and conditions as well as all applicable fees and charges. It’s in your best interest to review this document carefully before signing it so you know exactly how much you’ll be repaying before you commit to the loan.

The fees you have to pay will depend on where you live, since regulations differ across Canada. Additionally, how much money you borrow will affect the amount you will need to pay in interest and fees.

If you don’t pay the loan off in time, you could have to pay late charges and additional fees if you wish to refinance your loan. This may also negatively affect your credit score if the lender reports you to one of the 2 credit bureaux in Canada.

As with all payday loans, make sure you have an ability to repay the full loan amount, including the interest, before you borrow money. Extra fees can quickly add up, and you could find yourself in a spiral of bad debt if you don’t prepare.

Is it safe to take out a Speedy Cash loan?

  • Yes. Speedy Cash’s website is encrypted for security, so you can rest assured knowing that your personal information will have industry-level protection while you fill out an application. The company have been in business for over 20 years, providing payday loans to those in need of quick financing options.

How to apply for a payday loan from Speedy Cash

You can apply for a Speedy Cash payday loan in-store or online (depending on whether it has services in your location) as long as you meet the following eligibility criteria:

  • You are a Canadian citizen or a permanent resident
  • You have a steady source of income
  • If you apply online, you will need to have a bank account

In order to complete the application successfully, you’ll need the following:

  • Your name, home address, email address, date of birth and phone number
  • A valid government-issued ID
  • Blank personal cheque or a pre-authorized debit form
  • 60 day bank statement from date of application
  • Most recent pay stub
  • Proof of address

Are payday loans available in my province or territory?

Payday loans are available in all provinces and territories across Canada. You should be aware that payday loans are regulated by individual provinces, which means costs and fees can vary. Ensure that any lender you choose abides by the laws of the place you live.

At the time of writing in January 2020, the Yukon, Nunavut and the Northwest Territories do not have legislation regulating payday loans at the territorial level. Payday loans are regulated in these territories at the federal level only.

Find out how much lenders can charge across Canada

⚠️ Warning: Be cautious with payday loans
Payday loans are expensive. 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). Consider alternatives instead of a payday loan:
  • Local resources. Government programs and nonprofits offer free financial services and help with food, utilities and rent.
  • Debt relief companies. There are services to help you reduce your debt payments.
  • Payment extensions. Talk with bill providers about longer payment plans or due-date extensions.
  • Side jobs. Sell unwanted items online, sign up for food delivery and more.

Compare other payday loans

Check the websites of any lenders you’re interested in to confirm they operate in your province or territory of residence.

Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer
BC, NS, ON, SK
Apply for your first $300 payday loan at a $20 cost (excludes SK applicants).

You'll need to be 18 years of age or older and have a net income of at least $1,000/month. Residents of MB and NB must apply in-store for a loan.
iCASH Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer
AB, BC, MB, NB, NS, ON, PEI
Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.

To be eligible, you'll need to be at least 19 years of age and have a net income of at least $800/month deposited into your bank account.
GoDay Payday Loan
$100 - $1,500
Up to 62 days
Varies by Province
As little as 2 minutes with INTERAC e-Transfer
AB, BC, MB, NB, NS, ON, PEI, SK
To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.
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Maximum borrowing costs per province
Always refer to your contract for exact repayment amounts and costs as they may vary from our results.
Province Maximum allowable cost of borrowing
Alberta, British Columbia, New Brunswick & Ontario $15 per $100 borrowed
Manitoba & Saskatchewan $17 per $100 borrowed
Newfoundland and Labrador $21 per $100 borrowed
Prince Edward Island $25 per $100 borrowed
Northwest Territories, Nunavut & the Yukon $60 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)

Frequently asked questions

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