{"id":860365,"date":"2020-06-09T11:33:06","date_gmt":"2020-06-09T15:33:06","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=860365"},"modified":"2026-08-27T11:15:53","modified_gmt":"2026-08-27T15:15:53","slug":"pay2day-loans-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/payday-loans\/pay2day-loans-review","title":{"rendered":"PAY2DAY review: Instant 24\/7 no credit check loans"},"content":{"rendered":"

What types of loans does PAY2DAY provide?<\/h3>PAY2DAY offers payday loans of up to $1,500, depending on the amount of income you earn. By law, you can only borrow up to 50% of your net monthly income. These loans typically need to be repaid by your next paycheque, which is usually within one to four weeks.
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Make sure that you have enough money coming in to repay your loan, so you don\u2019t get sucked into an unmanageable cycle of debt.<\/p>

What are the benefits of PAY2DAY?<\/h3>

You can take advantage of a number of perks when you take out a payday loan with PAY2DAY.<\/p>

  • Easy application.<\/strong> Apply for a loan with PAY2DAY in a matter of minutes.<\/li>
  • Fast approval.<\/strong> You\u2019ll get approved and have your money deposited the same day as your application.<\/li>
  • Mobile app.<\/strong> You\u2019ll be able to apply for financing through PAY2DAY\u2018s easy-to-use mobile app (which can be downloaded from Google Play or the Apple Store).<\/li>
  • No collateral required.<\/strong> You won\u2019t have to worry about losing any assets if you can\u2019t pay back your loan on time.<\/li>
  • Bad credit doesn\u2019t matter.<\/strong> You can still apply with bad credit because your credit score won\u2019t factor into your loan decision.<\/li>
  • First-time discounts.<\/strong> You\u2019ll be able to borrow your first $300 with no fees if you apply for your first payday loan in-person at a store location.<\/li>
  • Some types of non-employment income are accepted.<\/strong> PAY2DAY accepts Employment Insurance (EI).<\/li>
  • Cooling period.<\/strong> By law, if you change your mind about your payday loan, you have two days to cancel it without penalty.<\/li><\/ul>

    What should I watch out for?<\/h3>PAY2DAY Payday Loans come with a number of disadvantages you should carefully think about before taking one out:
    • Very high fees.<\/strong> Payday loans cost $14 per $100 borrowed<\/span>, which is an exorbitant fee compared to other forms of credit (such as personal loans and credit cards).<\/li>
    • Short terms.<\/strong> You\u2019ll typically only have until your next payday to pay off this type of loan. Short repayment terms do not give your finances much time to recover.<\/li>
    • Only available in certain provinces.<\/strong> You\u2019ll only be able to get a PAY2DAY Payday Loan if you live in ON, BC, NS, AB.<\/li>
    • Banking, identity and phone verification. <\/strong>You\u2019ll need to undergo online banking verification, provide government-issued photo ID, upload a photo of yourself and verify your phone number.<\/li><\/ul>

      Alternative: Cash advances<\/h3>\nCash advances can be much cheaper, with APRs as low as 0% and flexible repayment terms. Fees apply for instant funding.\n
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