About lender
Capital Cash is a prominent financial institution in Canada, offering various lending services to meet the diverse needs of its clients. Specializing in short-term loans, Capital Cash provides accessible solutions for individuals facing unexpected expenses or seeking to bridge financial gaps between pay cheques. With a streamlined application process and quick access to funds, clients can receive cash advances of up to $1,500, often within hours of approval. Capital Cash prides itself on its commitment to responsible lending practices, ensuring that clients receive transparent information about loan terms, fees, and repayment expectations.
Operating within the regulatory framework of the Payday Loans Act, 2008, Capital Cash emphasizes compliance with all applicable laws and regulations across the jurisdictions it serves. The institution's dedication to responsible lending extends to thorough verification processes, including confirming applicants' employment status, income level, and banking details. Capital Cash prioritizes customer privacy and security, employing advanced encryption technology to safeguard sensitive information transmitted during the loan application and repayment processes.
Features
- Quick Access to Funds. Capital Cash offers expedited loan processing, enabling clients to receive cash advances of up to $1,500 swiftly, often within hours of approval.
- Responsible Lending Practices. Committed to responsible lending, Capital Cash adheres to regulatory requirements and guidelines, prioritizing the financial well-being of its clients.
- Streamlined Application Process. With a user-friendly online application platform, applying for a loan from Capital Cash is quick and convenient, requiring minimal documentation.
- No Credit Check. Capital Cash does not conduct credit checks, focusing instead on clients' demonstrated ability and willingness to repay loans.
Pros and cons
Pros
Cons
Reliability
Assessing the reliability of Capital Cash requires a nuanced consideration of various factors. While the company operates within the bounds of applicable laws and regulations governing the payday loan industry, determining its reliability may be challenging due to the scarcity of available reviews and customer feedback.
While some individuals may have had positive experiences with Capital Cash, others may have encountered issues or challenges during their interactions. Additionally, the lack of extensive reviews makes it difficult to gauge the overall satisfaction and reliability of the company's services. As with any financial institution, prospective borrowers should conduct thorough research, carefully review the terms and conditions of loans, and exercise caution when engaging with Capital Cash to ensure a positive and reliable borrowing experience.
How to apply for a Capital Cash loan?
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Visit the Capital Cash Website. Access the Capital Cash website using a web browser on your computer or mobile device.
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Navigate to the Loan Application Page. Once on the website, locate the loan application page. This page typically contains information about the loan products offered and a link or button to begin the application process.
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Complete the Online Application Form. Click on the provided link or button to access the online application form. Fill out the form with accurate and up-to-date information, including your personal details, contact information, employment status, income details, and banking information. Ensure that all required fields are filled out correctly to avoid delays in processing your application.
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Review and Submit Your Application. Take a moment to review the information you've provided for accuracy and completeness. Double-check important details such as your contact information and banking details. Once you're satisfied with the information provided, submit your application electronically by clicking the designated button.
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Await Loan Approval. After submitting your application, Capital Cash will review the information provided to assess your eligibility for a loan. This process typically takes a short amount of time, and you may receive a decision within minutes or hours, depending on the volume of applications and the time of submission.
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Receive Funds. If your loan application is approved, you will receive notification from Capital Cash regarding the approval decision and details of the loan offer. Funds will be disbursed to you either via electronic funds transfer (EFT) directly into your bank account or through an email money transfer (EMT), depending on your preference and the loan disbursement method chosen.
Conditions
- Loan Amount. Borrowers can access cash advances of up to $1,500, depending on their individual financial circumstances and eligibility criteria.
- Loan Term. Capital Cash offers short-term loans with repayment periods typically ranging from 7 to 62 days, allowing borrowers to tailor the loan term to their specific needs.
- Interest Rate. The Annual Percentage Rate (APR) on a 14-day loan is 546%, ensuring transparency regarding the cost of borrowing.
- Repayment Options. Borrowers have the flexibility to repay the loan and associated fees through automatic debits from their bank account on the due date, simplifying the repayment process.
- No Credit Check. Capital Cash does not conduct credit checks during the loan application process, enabling individuals with bad credit to qualify for loans based on their demonstrated ability to repay.
Requirements
- Age. Applicants must be at least 18 years old to be eligible for a loan from Capital Cash, ensuring compliance with legal age requirements for financial transactions.
- Citizenship/Residency. Borrowers must be citizens or permanent residents of Canada to qualify for a loan, verifying their legal status within the country.
- Employment Status. Applicants must be employed for at least 90 days at their current job, demonstrating stable employment and income stability.
- Income Verification. Borrowers must have a minimum take-home income of at least $700 per month after taxes, providing evidence of their ability to repay the loan.
- Direct Deposit. Applicants are required to have their income directly deposited into a bank account, ensuring timely and consistent receipt of funds for loan repayment.
- Active Bank Account. Borrowers must have a chequing account in their name that has been active for at least two months, facilitating loan disbursement and repayment through electronic funds transfer.
- Contact Information. Applicants must provide current home and work phone numbers, along with a valid email address, to facilitate communication and verification during the loan application process.
Ways to receive the money
- Electronic Funds Transfer (EFT). Approved loan funds can be electronically deposited directly into the borrower's bank account via EFT. This method offers a secure and efficient way to receive the money, with funds typically available within hours of loan approval.
- Email Money Transfer (EMT). Alternatively, borrowers may opt to receive their loan funds through an email money transfer (EMT). With an EMT, the borrower receives an email notification containing instructions on how to deposit the funds into their bank account. EMTs are typically received within minutes of being sent, offering a fast and convenient way to access the money.
- Direct Deposit. For borrowers who prefer the traditional method of receiving payments, Capital Cash can arrange for loan funds to be deposited directly into the borrower's bank account via direct deposit. This option offers the convenience of automatic deposit without the need for manual intervention.
Products
Cash Advances. Immediate cash advance options are available to individuals facing urgent financial needs, such as emergency car repairs or medical expenses. Loan amounts may vary based on the borrower's income and repayment ability, with typical amounts start up from $100 to $1,500.
Reasons you may be denied a Capital Cash loan
- Insufficient Income. Capital Cash requires borrowers to have a minimum income level to qualify for a loan. If an applicant's income does not meet the required threshold, they may be denied a loan.
- Unstable Employment History. Applicants must have a stable employment history, typically with at least 90 days of continuous employment at their current job. A history of frequent job changes or unemployment may result in a loan denial.
- Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on the loan application can lead to a denial. It's essential for applicants to ensure that all required fields are filled out correctly and that the information provided is accurate.
- Bank Account Issues. Capital Cash requires borrowers to have an active chequing account in their name, which has been active for at least two months. If the applicant's bank account does not meet these requirements or has issues such as overdrafts or frozen status, they may be denied a loan.
- Previous Loan Default. Individuals who have previously defaulted on a loan from Capital Cash or another lender may be deemed ineligible for future loans. Responsible borrowing and timely repayment of previous loans are essential factors considered in the loan approval process.
How to repay a Capital Cash loan
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Understand Your Repayment Schedule. Upon approval of your loan, Capital Cash will provide you with a repayment schedule outlining the due dates and amounts of your installment payments. Review this schedule carefully to understand your repayment obligations.
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Ensure Sufficient Funds. Before each repayment date, ensure that you have sufficient funds available in your bank account to cover the repayment amount. If necessary, adjust your budget or schedule your payments to ensure timely repayment.
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Automatic Debit. The most common and convenient repayment option offered by Capital Cash is automatic debit. On the agreed-upon repayment dates, the loan amount and associated fees will be automatically debited from your bank account. This option eliminates the need for manual payments and helps you avoid late fees.
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Direct Payment. If you prefer to make manual payments, you can initiate a direct payment from your bank account to Capital Cash on the repayment date. Ensure that you include your loan account number and payment details to ensure proper crediting of your account.
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Email Money Transfer (EMT). Alternatively, you may choose to repay your loan using an email money transfer (EMT). Send the repayment amount to Capital Cash's designated email address, using your loan account number as the security question and answer. This option offers flexibility and convenience, especially for borrowers who prefer electronic transactions.
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Early Repayment. If you're able to repay your loan before the scheduled due date, Capital Cash encourages early repayment. This can help you save on interest charges and reduce the overall cost of borrowing. Contact Capital Cash to inquire about early repayment options and instructions.
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Maintain Communication. If you encounter any difficulties or foresee challenges in making your loan repayments, it's essential to communicate with Capital Cash as soon as possible. They may be able to offer assistance or alternative arrangements to help you manage your loan obligations effectively.
Editorial opinion
Important
How to Choose a Lender
- Verify that the lender is registered with the appropriate regulatory authorities in Canada, such as the Financial Consumer Agency of Canada (FCAC), or is licensed to operate in your province.
- Check if the lender is a member of reputable industry associations in Canada, such as the Canadian Bankers Association (CBA) or the Canadian Lenders Association (CLA).
- Thoroughly review all terms and conditions outlined in your loan agreement. Understand the repayment schedule, interest rates, fees, and any penalties for late payments or defaults.
- Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
- Familiarize yourself with your rights regarding loan cancellation or early repayment. Canadian consumers have the right to cancel a loan within two business days after signing the agreement, without penalty.
- Research the lender's reputation by checking customer reviews, complaints, and feedback on reputable online platforms, as well as through resources provided by organizations like the Better Business Bureau (BBB).
Methodology
At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.
In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.
At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.
Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.
Additional resources
- Capital Cash Online Banking
- How to Apply for Capital Cash Loan
- How to PayOff Capital Cash Debt
- Capital Cash Customer Reviews
