Payday Loan Questions?

Both direct deposit and e-Transfer are methods Loan Express uses to send you your loan funds electronically, but they work differently:

• Direct Deposit: This method involves Loan Express securely depositing the funds directly into your bank account using your banking information (transit number, bank number, and account number). You don’t need to take any extra steps to receive the funds once your banking information is verified.
• e-Transfer (Interac e-Transfer): This method involves Loan Express sending funds electronically through the Interac network to the email address you provided in your application. You will receive a notification (usually by email or text message). If you have set up e-Transfer auto-deposit with your bank, the funds may be automatically deposited into your account without you needing to take any further action. However, if you do not have auto-deposit enabled, you will typically need to follow the instructions in the notification, which usually involves clicking a link, selecting your bank, and answering a security question (if one was set) to deposit the funds