Skip to content
INSTANT.CREDIT

Terms and Conditions

Terms and Conditions

Last updated: November 6, 2026

Effective date: September 6, 2026. The provisions of these Terms about the chat assistant apply from October 16, 2026, the other changes made on October 17, 2026, and those made on November 1, 2026, and on November 5, 2026, apply from those dates, and the changes made to these Terms on November 6, 2026, apply from that date.

These Terms and Conditions are between you (the “User”, “you”, “your”) and Instant Credit S.E.C — a limited partnership (société en commandite) constituted under the law of Quebec and registered in Ontario as an extra-provincial limited partnership under the name INSTANT.CREDIT S.E.C and Business Identification Number 1001496851, acting through its general partner, Credit Inc., and carrying on business from 2233 Argentia Road, Unit 302, Mississauga, Ontario L5N 2X7 (“we”, “us”, “our”) — the operator of the website at payday.instant.credit (the “Site”). Instant Credit S.E.C is the name shown on our Ontario payday lender licence, and Instant.Crédit S.E.C. is the partnership’s name in Quebec. Each of these names refers to the same partnership.

“INSTANT.CREDIT” is a brand and the domain name instant.credit. It is used by Instant Credit S.E.C and by other legal entities related to it. Used on its own, the name covers Instant Credit S.E.C and every legal entity related to it, except where the next paragraph says it means the partnership only. “We”, “us”, and “our” mean Instant Credit S.E.C only: the licensed lender, the party to these Terms and to your loan agreement, and the organization responsible for the personal information our Privacy Policy describes.

A limited partnership is not a corporation. It has no articles of incorporation and no board of directors. Under article 2236 of the Civil Code of Québec, the general partner is the only partner authorized to administer and bind a limited partnership. Where these Terms say that we do something, agree to something, or are bound by something, the partnership does so through its general partner, and the partnership is the lender and the party to your loan agreement. Where the Site, or a consent you give on the Site or when you apply, says that INSTANT.CREDIT is a lender or is licensed, does something, agrees to something, is given something, such as a consent, or is bound by something, it means the partnership only, acting through its general partner, unless the text says otherwise. That includes the consents you give when you apply, whose substance Part C sets out.

We are licensed as a payday lender in Ontario under the Payday Loans Act, 2008, S.O. 2008, c. 9 (the “PLA”), licence number 4741682, issued 3 September 2026 and expiring 3 September 2027, at the office address above. Verify this licence, or complain about us, with the Ministry of Public and Business Service Delivery, Consumer Services Operations Division, at (416) 326-6203 or CPOLicensing@Ontario.ca.

This document is organized as follows:

  • PART A — Terms of Website Use

  • PART B — Terms That Apply to a Payday Loan From Us

  • PART C — The Consents You Give When You Apply

  • PART D — Defined Terms

How we handle personal information is set out separately, in our Privacy Policy, which forms part of these Terms.

PART A — TERMS OF WEBSITE USE

1. Acceptance

By accessing or using the Site you agree to Part A, to our Privacy Policy, and, if you submit an application, to Part B and Part C. If you do not agree, do not use the Site. Nothing on the Site is an offer of credit, and nothing on it creates a binding loan; a loan exists only when you and we enter into a written loan agreement.

2. Who may use the Site

You represent that you are at least 18 years old, have reached the age of majority in Ontario, and have the legal capacity to enter into a binding contract. The Site is directed to residents of Ontario. Our licence is an Ontario licence and we do not lend outside Ontario.

3. Permitted and prohibited use

The Site is made available for lawful informational purposes and so that you can apply for a payday loan from us. You agree not to:

  • (a) use the Site in breach of any law;

  • (b) reverse engineer, decompile, scrape, or extract source code, data, or content by automated means, except for ordinary search-engine indexing;

  • (c) interfere with the integrity, security, or performance of the Site, including by introducing malware, conducting denial-of-service activity, or attempting unauthorized access;

  • (d) misrepresent your identity, impersonate anyone, or submit false, inaccurate, or stolen information in an application;

  • (e) use the Site to harvest other people’s personal information; or

  • (f) use the Site for the benefit of, or to facilitate anything for, a person sanctioned under Canadian sanctions legislation.

4. Intellectual property

All content on the Site — text, design, graphics, logos, the names “INSTANT.CREDIT” and “Instant.Credit”, and the underlying software — is owned by or licensed to Instant Credit S.E.C and protected by intellectual property law. You have a limited, revocable, non-exclusive, non-transferable licence to access and view the Site for your own personal, non-commercial use. Anything else requires our prior written consent.

5. Third-party services and links

The Site links to, and our application process integrates with, third parties (each a “Service Provider”) — including consumer reporting agencies, the secure bank-connection provider, identity-verification providers, and payment processors. We are not responsible for their content or practices, and your use of any of them is subject to that provider’s own terms and privacy policy. Naming a Service Provider is not an endorsement of anything it offers you separately.

The providers we use to run the Chat (section 12) are not Service Providers within the meaning of this section. They include the provider of the language model that writes the Assistant’s answers; Slack (Slack Technologies, LLC, a Salesforce company), our internal messaging provider, which we use in our Slack workspace; and Vercel Inc., our hosting provider, which provides the security check. You do not deal with them, and you accept no terms of theirs by using the Chat. What this section says about our not being responsible for a Service Provider does not apply to them, or to anything said in the Chat. Section 12 sets the terms of the Chat. Section 8 of our Privacy Policy says how those providers handle personal information, including where the account we use with one of them is held by a legal entity related to us, and where a provider also uses what it receives for a purpose of its own.

6. Disclaimer of warranties

THE SITE IS PROVIDED “AS IS” AND “AS AVAILABLE”. TO THE FULLEST EXTENT PERMITTED BY LAW, WE DISCLAIM ALL REPRESENTATIONS, WARRANTIES, AND CONDITIONS, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OR CONDITION OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SITE WILL BE UNINTERRUPTED, ERROR-FREE, OR FREE OF HARMFUL COMPONENTS.

This section is about the Site. It does not limit anything we owe you under a loan agreement, under the PLA, or under the Consumer Protection Act, 2002, S.O. 2002, c. 30, Sched. A (the “CPA”). Cost figures, calculator results, and examples shown on the Site are illustrations. The binding figures are the ones in your own loan agreement.

7. Limitation of liability

TO THE FULLEST EXTENT PERMITTED BY LAW, Instant Credit S.E.C, ITS GENERAL PARTNER, AND THEIR RESPECTIVE PARTNERS, OFFICERS, EMPLOYEES, AND AGENTS ARE NOT LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES ARISING FROM YOUR USE OF THE SITE, EVEN IF ADVISED OF THE POSSIBILITY. OUR AGGREGATE LIABILITY ARISING FROM YOUR USE OF THE SITE WILL NOT EXCEED ONE HUNDRED CANADIAN DOLLARS (CA$100).

This limit does not apply to liability arising from a loan agreement, and it does not apply to (i) gross negligence, wilful misconduct, or fraud; (ii) death or personal injury caused by our negligence; or (iii) any liability that cannot lawfully be limited or excluded, including your rights under the PLA and the CPA.

8. Indemnity

You agree to indemnify us and our general partner against any claim, loss, damage, liability, or expense (including reasonable legal fees) arising from your breach of Part A, your misuse of the Site, or your violation of any law or of any third party’s rights. This section does not apply to anything arising out of a loan agreement between us.

9. Governing law and where disputes are heard

These Terms, and any loan agreement made through the Site, are governed by the laws of the Province of Ontario and the federal laws of Canada applicable in Ontario. The courts of Ontario have jurisdiction over any dispute.

Your right to go to court is not taken away. There is no arbitration clause in these Terms. Under section 7 of the CPA, your substantive and procedural rights under that Act apply despite any agreement to the contrary, and a term that would require a consumer dispute to be arbitrated is invalid in so far as it would prevent you from bringing an action in the Superior Court of Justice. Under section 8 of the CPA you may commence or join a class proceeding. Nothing in these Terms waives, and nothing in them is intended to waive, any right you have under the PLA, its regulations, or the CPA. Any provision of these Terms that conflicts with the PLA or its regulations is of no effect to the extent of the conflict.

10. Suspension of access

We may suspend or terminate your access to the Site at any time, with or without notice, including if we reasonably believe you have breached Part A. Suspending your access to the Site does not affect your rights or obligations under a loan agreement already in force. Sections 4 to 9, 11, and 12 of Part A survive.

11. General

  • Changes. We may change these Terms at any time, without notice. Changes take effect when we post them on this page; the “Last updated” date at the top shows the last change. If you keep using the Site or our services after a change, the new Terms apply. Changes to these Terms do not change a loan agreement you have already entered into — that agreement can only be varied as the PLA allows.

  • Entire agreement. These Terms, the Privacy Policy, and any loan agreement between us are the entire agreement about their subject matter. Where a loan agreement and these Terms conflict, the loan agreement governs.

  • Severability. If a provision is held invalid or unenforceable, the rest remains in force.

  • Assignment. You may not assign these Terms. We may assign them, and may assign or transfer a loan, in connection with a sale, financing, or securitization of all or part of our business or loan portfolio; your rights under the PLA travel with the loan.

  • Notices. Notices to us go to support@instant.credit or to our office address above. A message that you send in the Chat (section 12) and that reaches us is recorded with the time you sent it, and a message that appears to be a notice is passed to our team. If the Chat tells you that a message did not go through, or the Chat is unavailable, send your notice by email or to our office address. The law and your loan agreement decide what effect a notice has. Before we act on a notice about a loan, we may need to confirm who you are. Notices to you go to the email address, mobile number, or postal address you gave us.

  • Force majeure. Neither party is liable for a failure or delay caused by an event beyond its reasonable control. This does not extend any deadline the PLA imposes on us, and it does not extend your right to cancel.

  • No waiver. A failure or delay in exercising a right is not a waiver of it.

12. The chat assistant

The Site includes a chat window (the “Chat”). The Chat is part of the Site, and the rest of Part A applies to it. If you send a message in the Chat, you agree to this section.

  • Automated. The Chat is answered first by an automated assistant (the “Assistant”). The Assistant is software, not a person, and the Chat says so. It writes its own answers from rules and information we gave it. It cannot see any application or any loan, and it makes no decision about you or about anyone else.

  • General information only. What the Assistant tells you is general information about payday loans in Ontario and about how we work. It is not an offer of credit, an approval, a decision on an application, or advice. The Assistant does not approve, decline, or price a loan. A figure it gives is an illustration, like the other figures on the Site (section 6).

  • It can be wrong. An automated assistant can make mistakes. Where an answer from the Assistant differs from your loan agreement or from these Terms, your loan agreement and these Terms govern. This does not limit any right you have under the PLA or the CPA.

  • A person may join. If you ask for a person, the conversation is passed to our team, and a person will read it. The same happens if you send something that appears to be a notice to us, such as a cancellation, a request for a refund, a request for a copy of your agreement, a complaint, or a request about your personal information other than a request to delete the conversation. It also happens if a message appears to tell us that you cannot pay on your due date or that the money has not reached you, or to ask for an extended payment plan or about a decision on your own application. A person may be available to answer you in the same window, depending on location and time zones. Messages from a person are labelled as such. If no one is available, the Chat tells you so, and you may leave a message with an email address or a mobile number so that we can reply by email or text. The Notices paragraph of section 11 says how we treat a notice sent in the Chat.

  • Recorded. Every conversation in the Chat is recorded: the messages you send that the Chat accepts, the Assistant’s answers, and a person’s answers, each with its date and time, together with the technical details our Privacy Policy lists. Your messages are recorded even when the Assistant does not answer them. We read conversations to answer them, to keep a record of what was said, and to correct the Assistant’s rules and information. We do not use what you send in the Chat for advertising, and we do not use it to assess an application. When the Assistant is asked to answer a message, that message is passed to a language-model provider to write the answer, together with your earlier messages and the Assistant’s earlier answers in the conversation, up to twenty in all. This happens even if no answer is then shown. A person’s answers, and messages you send while a person is answering you, are never passed to it. A conversation passed to our team goes through Slack, our internal messaging provider. Sections 4, 8, 9, 10, and 16 of our Privacy Policy set out what is recorded, who handles it, where, and for how long. By sending a message you consent to this.

  • Reference and deletion. The Chat shows a short reference for your conversation, and the reference is recorded with the conversation. Quote it if you ask us for a copy of a conversation or for its deletion. To have a conversation deleted, email the Privacy Officer or, while that conversation is open, tell the Assistant in the Chat to delete it or use the Chat’s control for deleting it. We then remove it from our record, and from Slack if a copy of it is held there, together with the replies a person on our team wrote there, and keep only a note that a conversation with that reference was deleted, and when, and the record of any consent you gave when you left us a message. If a removal you ask for in the Chat cannot be completed at once, the Chat tells you so, and we complete it. We do not remove a conversation that is relevant to a dispute, a complaint, or a legal proceeding, or that belongs to a loan record; we keep it and tell you why. If it holds one of the messages listed above as passed to our team, other than a request for a person or a request about your personal information, a person on our team checks it first, and we delete it if it does not have to be kept. Sections 10 and 13 of our Privacy Policy set out the details, including what a provider keeps for a purpose of its own.

  • Security check. An automated security check provided by Vercel Inc., our hosting provider, does not run until you send your first message. It checks whether a message comes from an automated program, using the technical details of your connection, such as your IP address and browser. Our server does not send it what you type. If a message does not pass the check, it does not go through and does not reach our team, and you are shown our email address instead. Section 16 of our Privacy Policy describes the check.

  • What not to type. Do not type banking, card, or identity details in the Chat: no online banking password, no bank account or card number, no Social Insurance Number, no number from an identity document, and no security code sent to you by a financial institution or by us. If you send them anyway, they are recorded with the rest of the conversation, as our Privacy Policy describes.

  • Proper use. Section 3 applies to the Chat. You also agree not to: (a) use the Chat by automated means, or try to get around the security check or a limit on its use; (b) try to make the Assistant disregard its rules; (c) send another person’s personal information, or give a notice or make a request in another person’s name, unless that person has authorized you to; or (d) send abusive, threatening, or unlawful messages. We may end a conversation, or refuse to continue one, that breaks this section.

  • Limits and other ways to reach us. The Chat may be limited, slow, or unavailable at any time, including when a daily limit we place on its use is reached. The Chat works in English only. You never have to use it, and you should not wait for it. You can write to us at support@instant.credit, use the form on our Contact page, or write to our office address; our contact details are at the end of these Terms. A complaint can go to the Ministry at any time, as Part B, section 14 explains.

PART B — TERMS THAT APPLY TO A PAYDAY LOAN FROM US

Part B describes the product and the rights Ontario law gives you. It is a summary written in plain language; your own loan agreement contains the binding terms of your loan, and the PLA and Ontario Regulation 98/09 govern both. Where this summary and the law differ, the law prevails.

1. What we offer, and what we do not

We make payday loans as a direct lender, to residents of Ontario, for personal, family, or household purposes. A payday loan from us is a single-payment loan: you receive an advance and repay the advance plus the cost of borrowing in one payment on your due date.

  • A payday loan is $1,500 or less, for 62 days or less. We lend up to $1,500, for up to 30 days, or for 61 days.

  • We are the lender. We are not a broker: we do not arrange or refer your application to another lender, and we do not charge a brokerage fee.

  • We do not offer business or commercial financing, lines of credit, instalment loans, or any other credit product.

  • We lend only in Ontario. If you live in another province or territory, you need a lender licensed where you live.

A payday loan is an expensive form of credit, intended to bridge a short gap to your next pay. It is not suited to a recurring shortfall, and it is not a substitute for longer-term credit. Before applying, it is worth asking a creditor for more time, asking your employer about a pay advance, or speaking to a non-profit credit counsellor.

2. Eligibility and assessment

To be considered you must be at least 18, live in Ontario, have a regular source of income, and hold an active Canadian chequing account in your own name.

All credit is welcome — approval is based on your income and banking history. Every application is assessed. We cannot and do not guarantee approval, and we may decline an application. Nothing on the Site or in these Terms is a promise of approval.

3. What it costs

Ontario caps the total cost of borrowing a payday loan at $14 for each $100 advanced (O. Reg. 98/09, s. 23). That cap is a cap on everything, not just on interest — an application fee, a processing fee, a brokerage fee, or a fee to send you your money would all count against it. We charge $14 per $100 and nothing else.

On a $500 advance the cost of borrowing is $70 and you repay $570. Expressed as an annual percentage rate, calculated in the way section 55 of Ontario Regulation 17/05 prescribes, the cap works out to 365.00% on a 14-day term and 170.33% on a 30-day term. The APR falls as the term lengthens because the same $14 per $100 is spread over more days. The cost of your own loan is calculated on your actual advance and your actual term, and is shown to you in full before you enter into the agreement.

There is no penalty for repaying early. Because the $14 per $100 is a fixed cost of borrowing rather than interest that accrues daily, repaying a few days early does not reduce it — but cancelling within the window in section 7 removes it entirely.

On the criminal rate of interest. The criminal rate of interest under section 347 of the Criminal Code (Canada) is 35% APR, lowered from 60% with effect from 1 January 2025. A payday loan costs more than that, and is lawful only because section 347.1(2) of the Criminal Code takes payday loans outside section 347 where every one of the following is true: the amount advanced is $1,500 or less; the term is 62 days or less; the total cost of borrowing does not exceed the federal limit of 14% of the amount advanced (SOR/2024-114); the lender is licensed under provincial legislation to make payday loans; and the province is designated for that purpose by the federal government. We hold Ontario payday lender licence 4741682, and Ontario is designated by SOR/2009-277. Every loan we make is kept within all of those limits.

4. How much you can borrow

Two ceilings apply, and the lower one governs:

  • $1,500 — a payday loan is $1,500 or less, and we lend up to $1,500; and

  • 50% of your net pay for the pay period — a single payday loan may not advance you more than half of the net pay you are due (O. Reg. 98/09, s. 16.2(3), with net pay defined in s. 16.2(1)).

This is why we ask about your income and look at your recent banking history. You may be offered less than you asked for, and less than $1,500, because of the net-pay ceiling.

5. Your term and your due date

The term of your loan cannot end before your next regular income date (O. Reg. 98/09, s. 34(1)). A payday loan is $1,500 or less, for 62 days or less. We lend up to $1,500, for up to 30 days, or for 61 days. If we cannot lend for the term you chose, we may lend for a shorter one, as you consent in Part C; you see its term, due date, cost and total before you sign, and you may decline it.

Your loan is due on the day that is your term after you sign — day 7, 14, 21, 30, or up to 62, whichever term you chose — or the day after your next payday if that is later; a due date that falls on a weekend or a holiday moves to the next banking day. Your exact due date, your term in days and your annual percentage rate are shown to you before you sign, and your due date is set out in your agreement, together with the exact amount payable on that date.

6. Your loan agreement

Before you enter into a loan with us you receive a written agreement setting out the amount advanced, the total cost of borrowing, the total you must repay, the term, the due date, the annual percentage rate, your right to cancel, and the other information the PLA and Ontario Regulation 98/09 require. Because we contract with you remotely, we make the agreement available in a way that lets you read it, keep it, and print it before you accept it, and we give you a copy immediately after you enter into it.

Read it before you accept it. If anything in it differs from what you were told, do not accept it — contact us.

7. Your right to cancel

You may cancel a payday loan up to the end of the second day after we have both given you your agreement in the form the law requires and delivered your advance — or, if we are not open for business on that second day, the end of the next day we are open — without giving any reason and without paying any penalty or cost of borrowing (PLA s. 30(1), which runs the clock from our compliance with s. 29(1) and (2)). To cancel, tell us in any way that lets us know, and return the amount advanced. You then owe nothing more; we do not keep any part of the cost of borrowing.

In two situations the right to cancel does not expire at all:

  • if we did not give you a copy of your agreement in the form the law requires; or

  • if, on a loan agreed remotely, we did not make the advance accessible to you within one hour of entering into the agreement (O. Reg. 98/09, s. 21(2)).

In either case you may cancel at any time. If you think either applies to your loan, contact us, and you may also contact the Ministry (section 14).

8. Repayment

You repay in one payment on your due date, by the method set out in your agreement. Where you have authorized a pre-authorized debit, we take the payment from the account you nominated on the due date. You may repay early, in whole or in part, at any time, at no charge. If you want to change the account or the method, tell us before the due date so that the change can be made in time.

9. Two loans within 63 days, and never a third

A payday loan you take from us within 63 days after your previous payday loan with us is your second loan in that period. After your second payday loan with us, we make no new payday loan until 70 days after the day it is repaid in full (everything you owe under the agreement); then the count starts again. A loan you cancelled counts as one of the two.

We never make a third payday loan to the same borrower within a 63-day period. Ontario law says that if a lender does, the agreement must require the borrower to repay the advance and the cost of borrowing in instalments, called an extended payment plan (O. Reg. 98/09, s. 25.1(2)): over at least three of the borrower’s pay periods if they are paid semi-monthly, bi-weekly or more often, or at least two if they are paid less often; no instalment above 35% of the advance plus the cost of borrowing, or 50% where the plan runs over two pay periods; at no extra cost, and with no charge for ending the plan early. Because we make no third loan within 63 days, no loan from us is repaid under an extended payment plan.

10. The seven-day rule

We may not make you a new payday loan until seven days have passed since the full outstanding balance of your previous payday loan with us was paid, or since you gave us proof that it was paid (PLA s. 35(1)). If we break that rule, you are required to repay only the amount advanced — you owe no cost of borrowing at all. The longer wait after a second loan within 63 days is in section 9.

11. No rollovers, no extensions

We may not lend you money to pay off an existing payday loan with us, and we may not charge you to extend or renew one (PLA s. 36(1)). Nobody licensed in Ontario may. If a lender offers to roll your loan over for a fee, that lender is breaking the law.

12. If you miss a payment

If you think you cannot pay on your due date, you can contact us before it; it costs nothing.

Ontario permits only two charges after a payday loan is made, and caps both:

  • Default interest — a maximum of 2.5% per month, non-compounding, on the outstanding principal (PLA s. 32.1(3)); and

  • A dishonoured-payment fee — a maximum of $20, whatever the bank charges us (O. Reg. 98/09, s. 25.2).

Apart from those two, the only other amount we may charge you is our reasonable legal costs if we take you to court to collect, as the Act permits (PLA s. 33(1)). No collection fee, no administration fee and no additional cost of borrowing may be added by anyone.

When we may contact you about a missed payment. Ontario Regulation 98/09, s. 32(3) and (4) limits collection contact by telephone or in person: on a Sunday, only between 1:00 p.m. and 5:00 p.m. local time; on any other day, not before 7:00 a.m. and not after 9:00 p.m. local time; and not at all on any of the eleven holidays listed in s. 32(4). That regulation also limits how often we may contact you. If you believe we have contacted you outside those limits, tell us, and you may complain to the Ministry (section 14).

A missed payment may be reported to a consumer reporting agency and may affect your ability to obtain credit.

13. Credit reporting

We may obtain a consumer report about you when you apply and, with your consent, while your loan is outstanding, and we may report your loan and payment history to a consumer reporting agency. Section 7 of our Privacy Policy explains this in full, including your right to see and correct your own credit file. The notice required by the Consumer Reporting Act (Ontario) is the paragraph in bold type in section 2 of Part C.

14. Complaints

Tell us first: support@instant.credit or (514) 600-0924. We will acknowledge your complaint, look into it, and give you an answer. A complaint that you send in the Chat and that reaches us is recorded, and a message that appears to be a complaint is passed to our team, as Part A, section 12 describes.

You do not have to come to us first, and you can go to the regulator at any time. Complaints about a licensed payday lender in Ontario go to the Ministry of Public and Business Service Delivery, Consumer Services Operations Division — (416) 326-6203 or CPOLicensing@Ontario.ca. The same office will confirm that our licence is valid. Complaints about how we handle personal information go to the Privacy Officer and, if you are not satisfied, to the Office of the Privacy Commissioner of Canada (1-800-282-1376, www.priv.gc.ca).

15. How we send your advance

We send every advance by Interac e-Transfer. We have no storefront. We charge no fee for sending it (section 3).

We initiate the transfer once you and we have entered into your loan agreement. The terms “funding” and “instant funding” are defined in Part D.

Nothing in this section or in those definitions changes or limits your right to cancel under section 7, including the one-hour rule set out there. If the money has not reached you, contact us.

PART C — THE CONSENTS YOU GIVE WHEN YOU APPLY

Part C is the substance of the consents presented to you during the application. By clicking “I consent” (or the equivalent) at the time you apply, you confirm the following. Nothing in Part C authorizes us to do anything the PLA, O. Reg. 98/09, the CPA, or PIPEDA prohibits. In particular, whatever you consent to, your application and all documentation relating to it or to your loan agreement are used only to provide a payday loan, and never in connection with any other good or service (O. Reg. 98/09, s. 27(1)). As well, information you give us in connection with a payday loan you apply for, hold, or have held, your application included, is used for a purpose not connected with that loan only with your consent (O. Reg. 98/09, s. 29(2)). Section 5 of our Privacy Policy sets out these limits.

1. Your application

By submitting an application, I:

  • (a) certify that the information I have given is true, accurate, and complete, and undertake to provide further information on request;

  • (b) consent to Instant Credit S.E.C verifying that information, including with my financial institution and, where I have specifically authorized it, with my employer or another person I have named;

  • (c) understand that my application will be assessed and may be declined, and that no approval is guaranteed;

  • (d) understand that if my application is approved I will receive a written loan agreement before any money is advanced, and that the agreement — not the Site, the calculator, or any conversation — sets the amount advanced, the cost of borrowing, the total repayable, the term, and the due date;

  • (e) confirm that I am borrowing for personal, family, or household purposes, that I am at least 18, and that I live in Ontario; and

  • (f) consent to Instant Credit S.E.C assessing this same application, using the information I gave for it, the consumer report obtained about me under section 2 below and my bank-connection data under section 3, for a payday loan on a shorter term than the one I chose, where it cannot lend to me for the term I chose; and understand that this decision is automated, that I will see the term, the due date, the cost of borrowing and the total repayable of any loan offered before I sign, that I may decline it, and that I may ask for the main information the decision was based on and for a person to review it.

2. Consumer report consent

We will obtain a consumer report about you to decide this application. If you ask, we will tell you the name and address of the consumer reporting agency that supplies it. If you later owe us money on a loan, we, or a registered collection agency acting for us, may obtain a consumer report to collect it, and an amount you owe may be reported to consumer reporting agencies.

I expressly consent to Instant Credit S.E.C obtaining a consumer report about me — a credit report, a credit score, or both — from a consumer reporting agency, at the time of my application and, while I have a loan outstanding, for the purposes of administering it and collecting amounts owing. I consent to Instant Credit S.E.C reporting information about my loan, including my payment history, to a consumer reporting agency. I acknowledge that the paragraph in bold type at the start of this section is the written notice that a consumer report may be obtained about me.

3. Bank connection consent

I expressly consent to Instant Credit S.E.C obtaining, through its bank-connection provider Flinks Technology Inc. acting on its behalf, read-only access to the accounts I select, and to the retrieval of account and holder details, balances, and transaction history, for the purposes of verifying my identity, my income and its regularity, my next regular income date, my net pay, and my ability to repay. I understand that:

  • (a) I enter my online banking credentials on the provider’s own interface, and Instant Credit S.E.C does not see, receive, or store my online banking password through the bank connection;

  • (b) the connection is read-only and does not allow money to be moved;

  • (c) the retrieval is a point in time, and ongoing access is not maintained unless I separately agree to it; and

  • (d) I may ask instead to be considered on bank statements I provide, and Instant Credit S.E.C will tell me whether it can do so.

4. Identity verification consent

I consent to Instant Credit S.E.C, and to identity-verification and fraud-prevention providers acting on its behalf, collecting and reviewing my identity document and any image of it, and checking my details against reference databases, for the sole purpose of verifying my identity and preventing fraud in connection with my application.

5. Payment authorization

I authorize Instant Credit S.E.C to send the advance to the account I have nominated, and to take repayment from that account on the due date by the method set out in my loan agreement, in the amount and on the date that agreement specifies. I understand that this authorization is governed by the terms of my loan agreement and the applicable payment rules, that I may revoke it in accordance with those rules, and that revoking it does not cancel my loan or discharge what I owe.

6. Electronic documents and signature

I consent to receiving my loan agreement, disclosures, and notices in electronic form, and to signing electronically, in accordance with the Electronic Commerce Act, 2000 (Ontario). I confirm that I am able to access, retain, and print documents in that form. I may ask for a paper copy at any time, at no charge. I may withdraw this consent for future documents by writing to support@instant.credit.

7. Communications consent

I consent to being contacted about my application and my loan by email, telephone, and text message at the addresses and numbers I have given, and I understand that these transactional messages are part of the service and continue while I have an application or a loan. Replying STOP to a text message stops text messages to my number until I reply START, including my sign-in codes and my e-Transfer link and code. It does not end the contact about my application or my loan: Instant Credit S.E.C continues to contact me about them by email and telephone.

I receive text messages at the mobile number I give at no cost to me.

8. Recording of calls and chats

I consent to Instant Credit S.E.C recording or monitoring telephone calls for quality assurance, training, fraud prevention, and dispute resolution. I will be told at the start of a call if it may be recorded.

I consent to Instant Credit S.E.C recording every conversation I have in the Chat, whether my messages are answered by the Assistant, by a person, or not at all, on the terms of Part A, section 12. I am told this in the Chat before I send my first message.

9. Licensing and status disclosures

  • Instant Credit S.E.C is the lender. It is not a broker, and it does not refer applications to other lenders.

  • It is licensed as a payday lender in Ontario under the Payday Loans Act, 2008, licence no. 4741682, expiring 3 September 2027, at 2233 Argentia Road, Unit 302, Mississauga, Ontario L5N 2X7.

  • The licence is an Ontario licence. Payday loans are offered to residents of Ontario only.

  • The maximum allowable cost of borrowing under payday loan agreements is $14 for each $100 advanced.

PART D — DEFINED TERMS

In these Terms and Conditions:

  • “advance” means the amount of money we actually give you, before the cost of borrowing is added.

  • “Assistant” has the meaning given in Part A, section 12.

  • “Chat” has the meaning given in Part A, section 12.

  • “cost of borrowing” means everything you must pay for the loan beyond the advance itself — in Ontario, capped in total at $14 for each $100 advanced.

  • “CPA” means the Consumer Protection Act, 2002, S.O. 2002, c. 30, Sched. A.

  • “extended payment plan” has the meaning given in Part B, section 9, and in section 25.1 of Ontario Regulation 98/09.

  • “funding” means our initiating the transfer of the advance to you. We send every advance by Interac e-Transfer. We have no storefront.

  • “instant funding” means that, where available, we initiate that transfer immediately after you and we enter into your loan agreement. When the money becomes available to you depends on your financial institution and on the Interac network.

  • “net pay” has the meaning given in section 16.2(1) of Ontario Regulation 98/09.

  • “payday loan” has the meaning given in section 1(1) of the PLA.

  • “PLA” means the Payday Loans Act, 2008, S.O. 2008, c. 9, and “O. Reg. 98/09” means Ontario Regulation 98/09 made under it.

  • “Privacy Officer” has the meaning given in section 3 of our Privacy Policy.

  • “Service Provider” has the meaning given in Part A, section 5.

  • “Site” has the meaning given in the preamble.

Contact

Instant Credit S.E.C, acting through its general partner Credit Inc.

Questions about these terms? Email privacy@instant.credit or call (514) 600-0924.

Chat with John Apply Now