FAQ

APPLICATION PROCESS

How does the online payday loan process work?
We have created a very simple streamlined process to get you the money you need – fast!

Apply online with your contact, employment, and banking information
Submit your application and get an immediate answer
Digitally sign the loan documents
We’ll transfer the money to your account
On your payday, repay the loan with an Etransfer

What types of income are accepted?

Employment income from a job, CPP, CTB, Private Pensions.
We currently do not accept: WCB, EI, Disability Social Assistance, Self Employed

What documents do you require?

Recent Paystub
Online Bank Request verification – 90 days banking
Preauthorized debit form
ID
Proof of Address (utility or other bill)

How do I provide proof of income if I am not paid by Direct Deposit?

You can take a picture of your paystub and send it to us
You can scan your paystub and send it to us
We can do a discreet employment confirmation

How do I send documents to Cash Advantage?

Save the documents in PDF format and email to support@cashadvantage.ca, send all attachments in one email. You must provide your full name and SIN in the body of the email. CutePDF is a free PDF creator that we recommend. It will create a print driver and you just select the PDF writer as your printer.
Take a picture of any document and email to support@cashadvantage.ca, send all attachments in one email. You must provide your full name and SIN in the body of the email.

Need to send us a bank statement?

Here is a link to our bank request page.

How long before I know if I’m approved, and how will I find out?
Our service goal for application approval is 30 minutes. If we are missing information it may take longer. You will be emailed and called once a decision has been made.

How do I get my money, and how long will it take?
We deposit the cash directly into your personal bank or credit union account. Email Interac money transfers are within 30 minutes. If you have a debit Visa card the transfer is instantaneous.

Does Cash Advantage do credit checks?
No. We use our own internal approval databases when deciding whether to approve a loan.

I don’t want my employer to know I’m applying for a loan. Do you have to verify my job?
Generally we do not have to call your employer. However, in the cases where we need to call and speak with your Human Resources department our staff are very discreet and do not disclose where we are calling from.

GENERAL QUESTIONS

How much money can I borrow?
Cash Advantage lends up to a maximum of 50% of your net pay. New Customers may qualify for up to $300. Repeat Customers may qualify for up to $1500.

If I don’t qualify for the amount requested, can I get a different amount?
Yes, up to the amount you are approved for.

When will my loan be due?
Your loan is due on your next payday.

Can I borrow more than once in a pay period?
No. Payday Loan laws stipulate you are only able to borrow once per pay period, even if you are currently at less than your maximum loan limit.

What if I’m not satisfied with my loan?
You can cancel your loan within 48 hours – just repay the principle. Call our customer service team and request the Loan Cancellation Request form.

REPAYMENT OPTIONS

How do I repay my loan?
You can come into the store to pay, send us an Etransfer, or we can set a PAD on your account.

Can I make payments on OR renew my loan?
No. It must be paid in full on your due date.

What if I want to pay early?
You may pay early. However, the fees will remain the same.

What methods of payment do you accept?

Etransfer
Pre-Authorized Debit (PAD). This is the preferred method of payment our customers use.
Cash or debit: For customers living in Victoria, BC you can come into the store and pay in person.
Other accepted payment methods: Interac e-Transfer

What if I can’t repay my loan on the due date?
If something unavoidable pops up, give our customer service team a call at 1-866-213-6267 to discuss your payment options. If your payment comes back for any reason from the bank and you have not contacted us – we may initiate collection procedures immediately.

What if my payment is late?
If a payment is received after the due date, and the PAD bounces, you will be charged an NSF fee of $20. Your bank may also charge on NSF fee of up to $50. You will also be charged interest on the unpaid balance at a rate of 30% per annum. To avoid the extra charges, please ensure sufficient funds are in the account on your payday.

What if I don’t have the money in my bank account to pay off the loan?
You must contact us immediately to set up a payment arrangement. If your loan payment is rejected for any reason by your bank, we may institute collection proceedings.

After I pay off my loan, how quickly can I get another loan?
You can re-borrow immediately if you’ve sent us an Etransfer.

TECHNICAL INFORMATION

Is my information secure?
Yes. We utilize bank grade encryption.

How do I update my banking or other information with Cash Advantage?
Please call our customer service phone #1-866-213-6267 and we’ll be happy to assist you.

What if I’ve forgotten my password?
Click the forgot password link and we will email your login information to you. Still having trouble? Give us a call and we’ll be happy to help.

Why do I receive emails from your company?
For your convenience, we will send you an email to inform you of: your approval status, payment reminders, payment confirmations, responses to your inquires, promotions, and collection notices (if necessary).

I am not receiving emails from your company, why?
If we are not in your contact list, the emails may be treated as spam. To make sure you are receiving all of our emails; please add our customer service email address, found on our contact us page, to your contact list in your address book.
If you are with one of the following email providers listed below, click on the link and it will direct you to instructions on how to add our company email to your address book.
• Gmail Users
• Yahoo Users
• Hotmail/Outlook Users