Frequently Asked Questions
Looking for help with payday loans? Whether this is your first time applying, or if you’re simply interested in learning more about your financial options, you may have a few questions about how Speedy Cash works. It pays to be well-informed before making a decision about any financial matters, which is why Speedy Cash is committed to providing our customers with as much payday loan information as possible. We believe in providing honest, easily accessible answers to help you borrow responsibly.
Here, you will find lots of payday loan information. We tell you what you need to apply, how the payday loan process works, and how to repay, among other things. Use these frequently asked questions as a learning tool before taking the next steps toward applying for your first payday loan.
If you need payday loan help and don’t see an answer to your question here on our FAQ page, please don’t hesitate to contact us for more information.
Borrowing Online FAQs
How does Speedy Cash Online work?
Speedy Cash provides flexible loans around the clock. We have a 24-hour application process and online support during regular business hours. We’re here to help solve urgent and short-term financial setbacks. We’re more convenient than other online lenders because there’s no paperwork or hanging on the phone — the entire lending service is online! It’s straightforward to submit an application, and if you’re approved, you can have the money in your account within one business day.
Does Speedy Cash Online require a credit check?
We do not do a credit check however we do use Trans Union to verify identification. This will leave a soft inquiry on the bureau which does not affect your score and is not visible to other credit grantors.
What are the ways that I can receive my money?
- Electronic Email Money Transfer
- Direct Deposit into your bank account
How long will it take to get my loan?
The actual time to receive funds once your loan has been approved will depend on your financial institution, although typical transfer times vary from 1 hour to the next business day, depending on your preferred funding method. If your funds take more than two business days, feel free to contact us to discuss arrangements, or you may want to check directly with your bank or credit union for any more specific information they can provide regarding online transfers.
How do I re-pay an online loan?
The payment will automatically be withdrawn from your bank account on your loan repayment date.
How do I update personal information that has already been provided in the online application process?
Your personal contact and banking information can be updated anytime in the secure My Account section of our Borrow Online webpage. Simply log in to your account with your existing username and password and select Edit.
In-Store FAQs
What income does Speedy Cash lend on?
- Employment Income
- Employment Insurance (EI)
- CPP or Private Pension (must be paid direct deposit)
- Child Tax Benefit (must be paid direct deposit)
What do I need to get a loan from Speedy Cash?
- One piece of picture government ID
- Blank personal cheque and/or Pre-Authorized Debit Form
- Bank statement – 30-60 days from date of application
- Proof of address
- Most recent pay stub
*Requirements vary by location. Please contact your local Speedy Cash store for exact loan requirements.
How much money can I borrow?
Between $250.00 and $1,500.00, based on your income.
How much does a loan from Speedy Cash cost?
In British Columbia, Nova Scotia, Ontario, and Alberta, we charge $15 for every $100 you borrow, paid back on your new pay date. In Manitoba, and Saskatchewan, we charge $17 for every $100 you borrow, paid back on your new pay date. In Newfoundland and Labrador, we charge $14 for every $100 you borrow.
What personal information does Speedy Cash need?
We need to know personal details like your name, address, phone numbers, income and bank account details. We require this information so we can be sure that a Speedy Cash loan is a suitable solution for you. For full details about the collection of, and potential uses of your personal information, please read our Privacy Policy.
Do I need to be employed to receive a loan from Speedy Cash?
No, you do not need to be employed, but you do need to have a regular income because we only want to lend to you if you can afford to pay us back quickly and comfortably.
Do I need a bank account?
Yes, you need a bank account at a Canadian financial institution.
How long will it take to get my loan?
For qualified loans, you will walk out with cash in your hands.
How long before I have to repay a loan?
Your loan will be due on your next pay date.
How do I repay a loan?
You have the choice to repay your loan at any branch on or before it’s due date, or you can choose to have your payment withdrawn from your bank account with a pre-authorized debit agreement.
Can I extend or “roll-over” my payday loan?
We understand that unexpected financial situations arise in life – that’s why we offer our service! However, as part of our commitment to responsible lending, we require full repayment on your next payday, when you apply for your loan.
Do you call my employer?
Yes, we call your employer to verify your employment; however, to protect your privacy, we will not divulge that we are calling from Speedy Cash.