Payday Loans Guide

Payday loans in Canada help in getting quick cash and is an alternative to short-term loans for those who do not qualify for a traditional loan from the bank. Traditionally, collateral is required if you’re looking to borrow any amount of money. This collateral can be in any form such as your home or vehicle, jewelry, tools and stocks, and bonds for a huge loan. Also for a small amount of money, if not collateral, at least a credit check is necessary. However, not all people are willing to take this route and would rather not have their assets under the risk of a loan. Is it possible to borrow money in the absence of security or credit check? This is where Payday loans Canada comes in.

No matter what is your credit score, you will be eligible for a loan. So what is a payday loan? Let us first understand that. A payday loan is a comparatively small amount of money lent at a high rate of interest on the agreement that it will be paid back when the borrower receives their next wages. It’s a short-term, unsecured loan where the repayment of loans is linked to a borrower’s payday. The payday loans are also sometimes regarded as “cash advances,” though that title can also mean cash granted against a prearranged line of credit such as a credit card. A payday loan is also called a payday advance, salary loan, payroll loan, small-dollar loan, short term, or cash advance loan.

In Canada, a payday loan is a very convenient, easy, and smart way to keep on top of your financial obligations. A person having a poor credit rating may still be eligible for this loan. To apply for a payday loan, it’s essential to meet the following criteria.  

  • Must be at least 18 years old with a valid ID
  • Must have a Canadian bank account open and active for a minimum of 3 months in which you get paid by direct deposits
  • Must have a steady source of income as in a stable job with a minimum of 3 months or more of prior service
  • Must have a valid phone number
  • Must be a Canadian citizen
  • Must not be on the brink of declaring bankruptcy or entering into a consumer proposal
  • Must have a monthly income of over $1200 and receive it by direct deposit cheques from your employer
  • Must have few or no non-sufficient fund transactions

Applying for Payday loans Canada is easy too. Payday loans are legal in Canada and you can apply for it online and the process is fast and is extremely convenient. Customer Service Representatives of the company can be easily reached via phone or emails to answer your queries and help you with the application process from the comfort and privacy of your home or office. Applying online is fast and easy, and most importantly secure too. Retail locations are also easily accessible at strategic points in the cities and towns, which help with the loan for people who do not have the privilege of a net connection at that particular point of time or are tech savvy.

Paying back the payday loan is also quick, easy, and hassle-free just as the borrowing process. The funds that you owe to the company will be directly debited from our bank account when your payday arrives and you get your wages. The advantage is that you do not have to remember the due date or write out a cheque and post it or drop it at an allocated location. Thus, your short-term financial needs are met until your next payday.

Fast cash, flexible borrowing, quick application, and instant decision are the hallmark of Payday loans in Canada. Responsible, professional, we genuinely care about our customers. In addition, we use the industry’s fastest tools to approve your payday loans quickly! Every member of the team is available along the way. No question or query is too large.  All payday loan pricing is displayed clearly on our homepage and on your loan papers. There is no hidden pricing. Decide how much you require and need to borrow and complete the entire loan process online. Only if you meet our criteria, you get the cash loan immediately. There really is nothing so secure, fast or more convenient than online payday loans by Captain Cash. The financial freedom you need is just a few clicks away. Let Payday loans help you today with trouble-free cash money loans and fantastic customer service.

You may have found yourself asking why I should apply for a loan with Captain Cash? Well, there are countless reasons.

  • First of all, it’s fast. It provides quick cash loans on the same day or a few days later after the receipt of your application. Traditional loans usually take longer to process, whereas this is not the case with Captain Cash.
  • Small bank loans can take unimaginable years to pay off, as opposed to a fast cash loan, which can be paid off in less than a month easily. And this is the biggest benefit of borrowing smaller amounts from Captain Cash that is easier to pay off.
  • Unlike the typical bank loans, your credit history does not really influence the process of your payday advance.
  • Re-borrowing is easy too. If any bill is taking longer than expected to pay off for whatever reason, then Captain Cash has a solution. Because, after you have borrowed once, a payday loan becomes even easier to obtain.

The ability to live from one paycheck to the next can be quite tricky sometimes. Any situations that call for raising quick money within the shortest time can cause the biggest challenge to those who have not yet established a financial outlay. Out of nowhere, financial trouble may hit you, some unforeseen experience may spoil your day. When there is a financial crisis that needs urgent cash like in the case of a hospital bill or a motor vehicle that has to be repaired urgently or furniture that has to be repaired or purchased, this is the place to go. Some folks may be looking to bridge a short-term cash need between pay cheques. Others may want to avoid bounced cheque fees or late payment penalties. Some clients prefer the payday loan route to have to pawn personal possessions. Payday loan turns out to be a genuine blessing in such a scenario.

If you’re looking for quick financial solutions to bridge a budget shortfall at short notice, then payday loans are for you. If you’re someone who is not financially secured and cannot get a loan from the banks or financial institutions, then Captain Cash is your go-to solution. The idea behind Payday Loans Canada is that a person can walk straight into a payday loan outfit to make a loan request, or else one can choose to do it online. The successful applicant can get the funds within 24 hours because of the quick processing of the application. There are no hurdles or blockages as with the easy and fast transaction everything is extremely simplified for speedy service.

Since the Payday Loans is purposely meant for enabling all and sundry to benefit from a quick loan, there is no need to stand back or hesitate. Simply go online, and look at the requirements, which are not too demanding. There are no questions asked about the credit standing of the customers. Collaterals aren’t required as well. The structure of the loan is such that anybody who is employed and earns an income can benefit and find the repayment of the loan quite manageable. There is absolutely no difficulty in repayments if the loan for those who have already used this service. In fact, any average worker can go through this service quite comfortably. The success story is evident, as more people have returned for their second or more loans. At Payday loans Canada, customer satisfaction is prime and we are waiting to serve you 24× 7.

Rules Regarding Payday Loans

The rules regarding payday loans differ from country to country as well as between federal systems. Even rules guiding the payday loans differs in different states. Several lenders online give payday loans. These lenders are all ready to give borrowers payday loans as long as you have an income, you’re of age, and have a valid ID. The payday loans lender is always ready to give out loans.

For payday loans, no credit check is needed. Even people who are getting regular assistance from the government are considered by lenders who give payday loans.

How do Payday Loans Work?

  • How payday loans work is that the lender will make sure you earn the amount you claim to earn and then make checks on your account information as well. However, these checks do not take much time as it’s done mostly online and thanks to technology, it can be done correctly, quickly, and efficiently from the confines of the office without traveling out to physically check.
  • Borrowers of payday loans are made to give the lenders electronically signed permission to withdraw loan repayments from the borrower’s account. This means that the borrower is giving permission and also means to withdraw the loaned amount to the lender on the next payday.
  • When all of these ‘checks’ are done by the lender, your money is then credited to your account. Since all the processing is done online, getting the loan is very easy and quick. The financial requirements of the borrower are almost immediately met. There is not much of a waiting period to get the loan.
  • Because payday loans are short-term loans, the loan is due for payment sometimes within two weeks or a month as agreed by both the parties, the lender and the borrower. This means that you’re loan free in a very short period too. You do not have to carry the burden of a loan for long. You’re a free man, no financial worry, no loan, and no repayment to think about.
  • For payday loans, some individuals act as brokers on borrower’s behalf, and the job of the broker is to find you the best deal.

This deal can be convenient sometimes but also very open to fraudsters. To avoid any fraudsters taking advantage of you, get payday loans from direct lenders to save yourself from all the stress of being duped. Always avail the facilities of reputed and authentic companies.

Payday loans have become a booming success worldwide, and credit that success to offering a service that was not formerly available. The concept of emergency cash loans is an attractive alternative to people who are not able or willing to use conventional routes to borrow money. Traditional outlets for loans require a large amount of paperwork for even small loans. It’s here that Payday loans Canada steps in to fill the vacuum. They are available 24 ×7, and in many cases, the process is fully automated. Loans are provided without the borrower ever having to speak to another person. It’s a convenient financial service for young, web-savvy borrowers, who are accustomed to the ease and convenience of instantaneous online communication and are very comfortable with it. Present day modern consumer, raised entirely with social media, can even apply for these micro-loans using their smartphones, where the money is successfully transferred to the applicant’s bank accounts within minutes.

Thus, we see that payday loans are useful for paying off for personal and business requirements. When banks refuse loans on seeing the outstanding credit, and the credit card company continues charging high interest, people take loans for debt repayments, business loan, personal loan, paying income tax, paying credit card bills, and for investment schemes besides other personal expenses.

Payday loan Canada is truly a blessing for those requiring a short-term loan, for a small amount of money to make up for their shortfall before the next payday.