How fast do I get the money?

Funded instantly: we send the e-Transfer when you sign. It is an Interac e-Transfer, sent at all hours, including evenings and weekends.

The one-hour rule

This is a borrower protection worth knowing about, because most people have never heard of it.

When a payday loan is made remotely — online, by phone, anywhere other than face to face at a licensed location — Ontario requires the lender to make the advance accessible to the borrower within one hour of the agreement being entered into. It is not a service promise a lender chooses to make. It is a condition of lending at a distance.

If the lender misses it, the consequence is not a discount. It is that your right to cancel the loan never expires. The ordinary cancellation window closes at the end of the second day after you receive the loan and a copy of your agreement; where the money was not made accessible within the hour, that window stays open indefinitely, until the loan is cancelled or repaid. The same applies if the lender never gave you a proper copy of the agreement.

What the timeline actually looks like

1. You apply. A few minutes online.
2. We verify your income and banking. Usually a read-only connection to your bank, which comes back in seconds rather than the day or two a statement upload takes.
3. A decision. Every application is assessed. Approval is based on your income and banking history, and no licensed lender can promise it in advance.
4. You review and sign. Before you sign you see the amount, the cost of borrowing in dollars, the total to repay, the APR and the exact due date. Read them — this is the moment to change your mind at no cost at all.
5. The e-Transfer goes out, to the email address on your application.

What can slow it down

Most delays are small and fixable:

• Interac autodeposit not set up. If the transfer needs a security answer, the money sits there until you answer it. Turning on autodeposit with your bank in advance removes the step.
• A name or email mismatch between your application and your bank records.
• Bank verification failing — an account that will not connect, or income deposits we cannot see.
• Your own bank’s posting times. The e-Transfer arrives when it arrives; how quickly your bank makes it spendable is up to them.

A word about speed

Speed is the thing payday lending sells, and it is worth being clear-eyed about it. Instant funding is genuinely useful when a payment is about to bounce or the car that gets you to work has died. It is not a reason to borrow. Instant funding does not change the cost: it is the same $14 per $100, and the due date is set by your next payday either way.

If it does not arrive

Contact us. Do not apply somewhere else while the first application is live — that is how people end up with two loans and one paycheque. Our phone number and email are at the bottom of every page. If the advance was not made accessible to you within the hour, say so: your cancellation right is still open, and we will tell you exactly how to use it.