Payday Loan Questions

  • What Provinces Do You Loan To?

    Loan Express provides fast and easy access to online payday loans in all Canadian cities, and every remote location in New Brunswick, Nova Scotia, Ontario, Manitoba, Saskatchewan, Alberta, British Columbia, the Yukon, Newfoundland and labrador, Nunavut and the Northwest Territories.

  • What is a Payday Loan?

    A payday loan (also known as an instant loan) is a short-term loan paid-off on your next payday.

  • How Long Does the Process Take?

    At Loan Express, we pride ourselves on near-instant delivery of online payday loans. However, the exact length of the process depends on several factors. If you choose to use the bank verification tool, an application only takes a few minutes, and you can receive your funds instantly by etransfer. If you choose to email or fax your documents, it takes a little longer because you have to gather up your bank statement and pad agreement and email or fax them to us. That’s easy as well but takes a few minutes longer and you will receive a direct deposit. See How fast can i have my money for direct deposit times.”

  • How fast can I have my money?

    If you are eligible for an Interac eTransfer, you will receive your money instantly.

    If you are getting a Direct Deposit, they are transferred 3 times daily during regular business hours (see schedule below). If you are with a bank other than CIBC, TD, RBC, Scotia, BMO or HSBC, the deposit may take longer.

    Loans approved before 11 AM will be deposited that day by 3:30 PM.

    Loans approved between 11 AM and 4 PM will be deposited that day by 8 PM.

    Loan approved after 4 PM or on weekends and holidays will be deposited by 3:30 PM the next business day.

    * Note: all times are in Pacific Standard Time (PST).

  • How can I apply for a short term loan from Loan Express?

    At Loan Express, we are committed to serving our customers. Applying for a loan is as easy as hitting Apply Now and filling out an application. If at any time while filling out the application you need assistance, you can call us at 1.800.973.8033 and we will help you with your application and answer any questions you may have.

  • How can I get my cash advance?

    With Loan Express, we have fast and convenient methods to get a cash advance: The Loan may be delivered by way of direct deposit or email money transfer. For your first loan, if you are eligible to use our online bank verification, you may be eligible to receive an Interac Etransfer within 5 minutes of signing the loan agreement.

    If you choose not to, or you were not eligible to use our convenient online bank verification because your bank does not support online bank verification, you will receive your money by direct deposit. Please review the direct deposit schedule under “How fast can I have my money”.

    * Note: this is for the first loan only. Once your bank account is verified by a successful direct deposit, you will be eligible for Interac eTransfers for all future loans.

  • What is the PAY DAY criteria?

    • You must be 18 years of age or older
    • You must have a bank account open and in use for at least 30 days.
    • You must have an established income that is on Direct Deposit.

  • What Kind of Identification Do I Need?

    All you need is a Bank statement and a Preauthorized Debit form. If you choose to use our automated bank statement retrieval tool than you don’t need these either. We will grab them for you! All you need to do is fill out the application, pick to log into your bank account and the rest is done for you. On the odd occasion, if the automation encounters an error, we may request additional screenshots of your bank statement, but we will walk you thru that as well.

  • Do You Do Credit Checks?

    No. We do not conduct credit checks when you apply for a payday loan with Loan Express. Everyone is eligible, regardless of how good or bad their credit score is. We will never decline an application based on your credit history or credit score. If you want to do a credit check, you can choose to do one during the application process. The result will never cause you to get less money or be declined, but it may allow you to get more money.

  • How does Loan Express work?

    Loan Express provides a short term cash advance to our customers that find themselves a little short until their next payday. On the agreed upon repayment date, the total loan amount (including the disclosed fees) is repaid by automatic direct debit from the borrower's bank account.

  • What types of income are eligible for a payday cash advance?

    • Child Tax Credit
    • Pension, Disability, and most other Government benefits that are paid on a regular basis
    • Full time employment: Some income types do require you to be employed for a minimum of 6 months. If you have been employed under 2 months, please wait until you hit the 2 month milestone before applying.

  • I'm Retired. Do I Still Qualify for a Payday Loan?

    Yes. As long as you are over 18 years old, have a bank account that has been open and in use for at least 30 days, and an established income (i.e. CTC, CPP, Pension, Disability,) which you receive via direct deposit, you qualify for a Loan Express payday loan. If you have further questions, don’t hesitate to contact us!

  • Do You Accept EI or CERB Benefits as Income?

    Loan Express lends on CTC, CPP, Pension, Disability, Payrol, and many other guaranteed incomes. Loan Express Does not lend on EI or CERB.

  • How much can I borrow?

    A Payday loan is a short-term loan of up to $1500 for a term of no more than 62 days.

    The minimum loan Loan Express gives is $100 ($200 in Alberta). Most people will not qualify for the maximum amount on the first loan, but as you build trust with us, loan amounts will increase.

  • I Am an Existing Customer and Am Looking to Increase My Loan Amount. How Can I Do That?

    At Loan Express, the maximum amount of a payday loan is $1500, for a term of no more than 62 days. The minimum amount is $100 (or $200 in Alberta). While most people will not qualify for the maximum amount right away, as you build your relationship with us by paying previous loans, your eligibility for higher loans will increase. The increases in your account happen automatically thru the software, and the Call Center staff have no ability to adjust these amounts.

  • When do I have to pay my payday loan back?

    Unless Provincial Payday laws state otherwise, the payday loan will be repaid on your next pay date.

    The Provinces that require repayment over more than 1 pay date are:

    • Alberta — all loans must be split equally between 2 or more paydays, with the term of the loan between 42 and 62 days.
    • BC — loans will be paid back on the next pay date, unless it is the 3rd loan in a 62 day period, then the loan must be split over 2 pay periods if loaning off a monthly income, or 3 pay periods if you are paid bi-weekly, semi-monthly or on a more frequent basis.
    • Ontario — loans will be paid back on the next pay date, unless it is the 3rd loan in a 63 day period , then the loan must be split over 2 pay periods if loaning off a monthly income, or 3 pay periods if you are paid bi-weekly, semi-monthly or on a more frequent basis.

  • What time does the payment come out of my account?

    Loan Express asks your bank to take the payment out on the due date. However, the time it comes out is decided by your bank. Each bank is different. Some payments come out in the morning, some the afternoon and others at night. Please leave the payment in the account all day to make sure it clears.

  • Can I have more than one loan?

    We do not lend out more than one loan per customer at a time.

    * Note: We do not reject a customer who has open loans with other payday loan companies (except where prohibited by law).

  • Can I cancel an online Payday Loan?

    You can cancel a payday loan, a cancellation form is included with your contract, or you can click cancellation form to view a sample form.

  • When can I reloan?

    Once your loan is paid in full, you may borrow again when the bank has cleared your payment. This takes about 3 to 4 business days. If you are a Manitoba resident, you have to wait 7 days from the date of payment.

    * Note: the Manitoba government does not count the day you pay back, or the day you reloan as part of the 7 day waiting period.

  • Educational Material

    New Brunswick educational material | Matériel pédagogique du Nouveau Brunswick
    Nova Scotia educational material
    Ontario educational material

  • What if my question is not answered here?

    If you have further questions about how an online payday loan, or short term loan works, feel free to contact us directly. Our customer service representatives would be glad to help you.