My Canada Payday – overview

My Canada Payday, Contact Address

Phone:

• Vancouver: 604-630-4783
• Halifax: 902-332-3579 
• Toronto: 289-472-5204
• Edmonton: 780-652-1419
• Toll-Free: 877-730-8406

Email

[email protected]

Working Hours

Mon – Fri 5:00 am – 8:00 pm PST; Weekends & Holidays 09:00 am – 5:00 pm

Offices

• 425 – 15225 104th Avenue, Surrey, BC, V3R 6Y8.
• Unit 621 – 92 Caplan Ave, Barrie, ON, L4N 0Z7.
• Unit 1807 – 45 Alderney Drive, Dartmouth, NS, B2Y 2N6. 
• Unit 621 – 92 Caplan Ave, Barrie, ON, L4N 0Z7.

Types of Loans My Canada Payday Offers

As the name implies, My Canada Payday loans are strictly Payday lenders and do not offer any other type of loans.

Why you Should Choose My Canada Payday

Their rates are highly competitive

Most lenders demand that clients repay their loans immediately on their next payday. For customers in need of their cash for a little bit longer, they can request their next-but-one pay date to repay and save lots of cash.

They do not believe in hassles

Nobody likes red tape, so with My Canada payday, things are kept simple. They do not ask you a hundred questions about what you want the money for, and their signup form is only one short page. Also, no fax is required for applying for the loan; the entire process is online.

Fast Application

Filling out the application should take less than 5 minutes. Submitting your banking details is also very quick. It takes less than 5 minutes to apply for a payday loan on the My Canada Payday website. Borrowers won’t need to visit a physical location or storefront to verify their identity before receiving their money. 

100% Online

They are completely always online, so users won’t need to FAX any documents or go to a storefront.

Bad Credit is OK

Bad credit is no problem with My Canada Payday. They issue loans to many people whose credit scores would get them denied at a traditional lender. No restriction for application 

Anyone can apply. Whether you have bad credit or no credit history at all, My Canada Payday encourages everyone interested in applying for a loan.

Licensed

Always check to ensure that any lender you talk to has an up-to-date lending license. My Canada Payday is licensed to operate in every province that they do business in.

Safe & Secure

User personal information is safe with them. They use state-of-the-art encryption to protect your data, and they do not sell it to third parties.

Great Reviews

Check out their great reviews! My Canada Payday is rated 9.0/10 at TrustPilot. That’s because they promise to keep their customers always satisfied.

Getting a payday loan couldn’t be simpler.

All you have to do is fill out a one-page form, and you are ready to get some money deposited into your account.

Streamlining the Lending Process

My Canada Payday officials understand the sense of urgency their customers feel when applying for a payday loan. That’s why My Canada Payday has streamlined the lending process by eliminating the storefront location typical to payday lending and allowing the whole borrowing process to happen online. My Canada Payday customers don’t have to waste their time commuting, standing in line, and waiting for paperwork to be filed, but rather can submit a loan application online, with approvals in as little as 30 minutes. Other lenders can take hours or even days to process and approve applications. For returning customers, we offer payout by Interac Email transfer, allowing you to get paid within minutes of when you applied.

Putting customers first

At My Canada Payday, they don’t believe that payday lending should be stressful. If you have any questions or concerns or would like them to walk you through their application process over the phone, their knowledgeable and helpful customer service representatives are standing by to assist you. Reach out and call them. 

Franchise Opportunities

MyCanadaPayday is currently offering storefront franchise opportunities to the right individuals. If you are a self-funded and savvy business person looking to expand into the exciting world of payday loans and cheque cashing, please get in touch with their Franchise department at [email protected], and they will be happy to field your questions and accept your application for a Franchise.

Reliable Assistance

My Canada payday customer service agents are happy to help users apply for their loans. It only takes a few minutes to be approved, and your money can be in your account in just half an hour. They work hard to approve everyone and pride themselves on approving almost everyone for a cash advance! 

30-second disposal

Most times, life throws a curveball straight to one face, and you need to turn to a payday loan to make ends meet. With My Canada Payday, borrowers can now seek out payday loans of up to $1,500 and receive their funding within minutes. 

Fast approval

You should get your money through an INTERAC e-Transfer deposit within minutes after being approved for your loan.

Unsecured loans

Users won’t have to secure their loan against assets like their home or vehicle.

No fee for early repayment

There’s no fee to repay your loan early if you come into additional funds before your payment due date.

Extended repayment

You may be able to extend your repayment date to 2 paydays away from the date you borrow instead of on your next payday.

Disadvantages of My Canada Payday

Payday loans come with major red flags, from steep fees to short repayment terms. Here’s what to be cautious about before signing up for a loan from My Canada Payday:

Incredibly high fees

The biggest drawback of a My Canada Payday loan and payday loans as a whole is the fees you’ll incur to borrow money. It’s between $15 and $19 for every $100 you borrow, depending on the province you live in.

Low maximum borrowing amount

You can only borrow up to $1,500 or 50% of your paycheque, whichever is less.

Self-employment does not qualify. You’ll need to have full-time or part-time employment.

Automatic withdrawals. Your payments will be taken automatically from your bank account, which means you have to budget accordingly to avoid late charges.

Only available in some provinces

My Canada Payday only services Ontario, Alberta, B.C., Saskatchewan, Manitoba, and Nova Scotia.

No in-person interaction in all provinces. My Canada Payday only has offices in B.C., Ontario, Alberta, and Nova Scotia.

Late fee

If you do not repay your loan by the due date, you may be charged late fees.

Is it safe to apply for a My Canada Payday loan?

The 100% Canadian-owned company, established in 2010 and operated by Westrock Financial Ltd, is licensed in every province and prominently lists its payday lending license numbers on its website. Westrock Financial Ltd. has a Better Business Bureau rating of 5 out of 5 stars.

My Canada Payday is also a member of the Canadian Consumer Finance Association (CCFA).

It has storefronts in B.C., Ontario, Alberta, Nova Scotia, and a call center staffed out of Surrey, British Columbia.

Eligibility

To be eligible for a My Canada Payday Payday Loan, you need to:

Be a Canadian resident

Meet the minimum age requirement, which varies from province to province.

Be employed with a steady income that’s paid by direct deposit or cheque. You will need to provide proof of your income by submitting screen captures of your web banking with 180 days of banking history. You can also provide pay stubs.

Contact address

Have a valid home address, phone number, and email address. You can provide proof via a void cheque, a recent utility bill, or other proof of address.

How to Apply for My Canada Payday Loan

If you’re ready to apply for a My Canada Payday loan, follow these steps

Requirements For Application

When you’re applying for a My Canada Payday loan, you’ll need the following:

• Proof of your identity. You can prove your identity with your driver’s license, passport, health care, or citizenship card.
• Proof of income. You will need to provide proof of your income by submitting screen captures of your web banking showing 180 days of banking history. You can also provide pay stubs or your income tax statement.
• Proof of address. You can provide proof of address via a void cheque, a recent utility bill, or other official mail.

Conclusion

We will recommend to every borrower to be cautious with payday loans. Payday loans are expensive. If you’re experiencing financial hardship, consider alternatives instead of a payday loan. Do not take more than needed just because you can.