About lender

Cash Money has been a cornerstone in the Canadian financial landscape since its establishment in 1992. With a focus on providing quick, easy, and secure borrowing options, Cash Money has become synonymous with reliability and convenience for nearly 1.2 million Canadians. Whether individuals require a payday loan, line of credit, or other financial solutions, Cash Money stands ready to support them, ensuring that their short-term cash needs are met with respect and efficiency. As a member of the Canadian Consumer Finance Association, Cash Money adheres to responsible lending practices, both in-store and online, maintaining the highest standards of trust and compliance with provincial laws and regulations.

Beyond its lending services, Cash Money takes pride in its commitment to the communities it serves. Through volunteer efforts and charitable donations, Cash Money demonstrates its dedication to making a positive impact and fostering growth and resilience among its customers and beyond. With professional and friendly customer service, extended store hours, and a transparent approach to lending, Cash Money continues to be the go-to financial partner for Canadians seeking reliable and supportive solutions for their financial needs.

Features

1. Comprehensive Borrowing Options. Cash Money offers a range of borrowing options including payday loans, lines of credit, and auto equity loans, providing flexibility to meet diverse financial needs.

2. Quick and Easy Application Process. With Cash Money, applying for a loan is straightforward, whether it's done in-store, online, or over the phone, with quick loan decisions typically made within minutes.

3. Fast Access to Funds. Approved loans can often be disbursed in as little as 15 minutes in-store, ensuring rapid access to cash when needed most.

Pros and cons

Pros

Cons

Reliability

Cash Money demonstrates a strong sense of reliability and trustworthiness in its operations as a leading financial institution in Canada. Affiliated with reputable organizations such as the Canadian Consumer Finance Association (CCFA), Cash Money adheres to industry best practices and regulatory standards, ensuring transparency and integrity in its lending practices. Additionally, with a Trustpilot rating of 4.4 out of 5 stars based on 4,354 total reviews, Cash Money has garnered positive feedback from a significant number of customers, further bolstering its reputation for reliability and customer satisfaction. This consistent track record of positive reviews reflects the company's commitment to providing reliable financial solutions to its customers across Canada.

How to apply for a Cash Money loan?

1. Determine Your Borrowing Needs. Before applying for a loan, assess your financial situation and determine how much you need to borrow and for what purpose. Whether it's for unexpected expenses, bills, or emergencies, having a clear understanding of your borrowing needs will help you choose the right loan product.

2. Explore Loan Options. Cash Money offers a variety of borrowing options, including payday loans, lines of credit, and auto equity loans. Take the time to research and compare the different loan products to find the one that best fits your needs and financial situation.

3. Gather Required Documents. To apply for a Cash Money loan, you'll typically need to provide certain documents, including a valid government-issued ID showing you're 18 years or older, proof of income, such as recent pay stubs or bank statements, and proof of address, such as a utility bill or lease agreement.

4. Choose Your Application Method. Cash Money offers multiple ways to apply for a loan, including in-store, online, or over the phone. Choose the method that is most convenient for you and ensures you have all the necessary documents ready.

5. Complete the Application. Once you've chosen your application method, complete the loan application form provided by Cash Money. Provide accurate and up-to-date information, including your personal details, employment information, and financial information.

6. Submit Your Application. After completing the application form, submit it to Cash Money for review. If applying in-store or over the phone, you may be able to receive a loan decision within minutes. If applying online, you'll typically receive a decision shortly after submitting your application.

7. Review Loan Terms. If your loan application is approved, carefully review the loan terms and conditions provided by Cash Money. Pay close attention to the loan amount, interest rate, fees, repayment terms, and any other relevant details.

8. Sign the Loan Agreement. Once you've reviewed and accepted the loan terms, sign the loan agreement provided by Cash Money. By signing the agreement, you're agreeing to abide by the terms and conditions of the loan.

9. Receive Your Funds. After signing the loan agreement, you'll typically receive your funds either in cash (if applying in-store) or via direct deposit to your bank account. Depending on the loan product and your preferred disbursement method, you may receive your funds within minutes or one business day.

Conditions and requirements

Conditions

1. Loan Amounts. Cash Money offers loan amounts ranging from $50 to $10,000, depending on the borrower's income, creditworthiness, and other qualification criteria.

2. Interest Rates. The interest rates on Cash Money loans vary depending on the loan product, loan amount, and the borrower's creditworthiness. Payday loans typically come with higher interest rates than other types of loans.

3. Fees. Cash Money may charge fees in addition to interest rates, including loan origination fees, late payment fees, and NSF (non-sufficient funds) fees for failed payments.

4. Repayment Terms. Repayment terms for Cash Money loans vary depending on the loan product and amount borrowed. Payday loans are typically due on the borrower's next payday, while lines of credit may offer more flexible repayment options.

5. Loan Duration. The duration of Cash Money loans varies depending on the loan product and repayment terms. Payday loans are typically short-term loans, while lines of credit may have longer repayment periods.

6. Renewal Options. Some Cash Money loans may offer renewal or extension options for borrowers who are unable to repay the loan on the original due date. However, renewal options may be subject to additional fees and interest charges.

7. Prepayment Penalties. Cash Money loans may or may not have prepayment penalties, depending on the specific terms and conditions of the loan agreement. Borrowers should review the loan agreement carefully to understand any potential penalties for early repayment.

8. Provincial Regulations. Cash Money operates by provincial regulations governing the lending industry, including maximum allowable interest rates, fees, and loan terms. Borrowers should familiarize themselves with their province's regulations to ensure compliance.

Requirements

1. Age. Borrowers must be at least 18 years old to qualify for a loan from Cash Money.

2. Identification. Valid government-issued identification, such as a driver's license, passport, or provincial ID card, is required to verify the borrower's identity and age.

3. Income. Borrowers must have a steady source of income to demonstrate their ability to repay the loan. This may include employment income, government benefits, or other forms of verifiable income.

4. Bank Account. Borrowers are typically required to have an active bank account in their name, as loan funds are often disbursed via direct deposit and repayments may be made electronically.

5. Contact Information. Borrowers must provide accurate contact information, including a valid phone number and email address, to facilitate communication with Cash Money during the loan application and repayment process.

6. Proof of Address. Some loan products may require borrowers to provide proof of their current address, such as a utility bill or lease agreement, to verify residency.

Ways to receive the money

1. Direct Deposit. One of the most common methods of receiving loan funds from Cash Money is through direct deposit into the borrower's bank account. Once the loan application is approved, the funds are electronically transferred directly into the borrower's designated bank account, typically within one business day.

2. Cash Pickup. For borrowers who prefer to receive cash immediately, Cash Money offers the option to pick up the loan funds in cash at a nearby store location. Upon approval of the loan application, borrowers can visit a Cash Money store and receive the loan amount in cash, often within minutes of approval.

3. Interac e-Transfer®. Cash Money may also offer the option to receive loan funds via Interac e-Transfer®, a secure and convenient electronic funds transfer service. Once the loan application is approved, borrowers can receive the funds directly into their bank account via email or text message, typically within a few hours.

Products

1. Payday Loans (from $50 to $1,500). Payday loans from Cash Money provide short-term financing to cover unexpected expenses or cash shortages until the borrower's next payday. These loans are typically repaid in full, including fees and interest, on the borrower's next payday.

2. Lines of Credit (up to $10,000). Lines of credit from Cash Money offer flexible borrowing options for individuals who need ongoing access to funds. Borrowers can withdraw funds as needed, up to their approved credit limit, and repay the borrowed amount over time with interest.

3. Auto Equity Loans (up to $10,000). Auto equity loans from Cash Money allow borrowers to use their vehicle as collateral to secure a loan. The loan amount is based on the appraised value of the vehicle, and borrowers can continue to use their vehicle while repaying the loan.

4. Installment Loans (typically range from $500 to $10,000). Installment loans from Cash Money provide borrowers with a lump sum of cash that is repaid in fixed installments over a predetermined period. These loans offer predictable repayment terms and may be suitable for larger expenses or financial needs.

Reasons you may be denied a Cash Money loan

1. Insufficient Income. Cash Money may require borrowers to have a steady source of income to demonstrate their ability to repay the loan. If your income is deemed insufficient to cover the loan amount and other financial obligations, you may be denied a loan.

2. Poor Credit History. Cash Money may conduct a credit check as part of the loan application process to assess the borrower's creditworthiness. If you have a poor credit history or a low credit score, you may be deemed a higher-risk borrower and therefore denied a loan.

3. Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on your loan application can result in a denial. It's important to ensure that all information provided is accurate and up-to-date to avoid any delays or issues with the application process.

4. Existing Debt. If you have existing debt obligations that exceed your income or financial capacity, Cash Money may deny your loan application. Lenders typically consider the borrower's debt-to-income ratio when evaluating loan applications to ensure that the borrower can afford additional debt.

5. Employment Status. Cash Money may require borrowers to be employed or have a steady source of income to qualify for a loan. If you are unemployed or have unstable employment, you may be denied a loan.

6. Bankruptcy or Foreclosure. If you have a history of bankruptcy, foreclosure, or other adverse credit events, you may be denied a loan from Cash Money. Lenders may view these events as indicators of financial instability and may be hesitant to extend credit to individuals with a history of financial difficulties.

How to repay a Cash Money loan

1. Understand Repayment Terms. Before borrowing from Cash Money, it's essential to understand the repayment terms outlined in your loan agreement. Familiarize yourself with the repayment schedule, including the due dates for each installment or the full repayment amount.

2. Set Up AutoPay. Consider setting up AutoPay for your loan repayment. With AutoPay, your loan payments are automatically deducted from your bank account on the scheduled due dates, helping you avoid late fees and ensuring timely repayment. Contact Cash Money to inquire about setting up AutoPay for your loan.

3. Make Manual Payments. If you prefer not to use AutoPay, you can make manual payments for your loan. Cash Money typically offers several convenient methods for making payments, including online, in-store, or over the phone.

4. Choose Your Payment Method. Select the payment method that works best for you and ensures timely repayment of your loan. Consider factors such as convenience, accessibility, and any associated fees or processing times when choosing your payment method.

5. Monitor Your Account. Keep track of your loan payments and account balance to ensure that all payments are paid and processed correctly and on time. Monitor your bank account statements and payment receipts for any discrepancies or errors.

6. Contact Customer Service. If you encounter any issues or have questions about your loan repayment, don't hesitate to contact Cash Money's customer service team for assistance. They can provide guidance on payment options, address any concerns, and help resolve any issues you may encounter during the repayment process.

Editorial opinion

Important

How to Choose a Lender

1. 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.
2. 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).
3. 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.
4. Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
5. 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.
6. 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

• Cash Money Online Banking
• How to Apply for Cash Money Loan
• How to PayOff Cash Money Debt
• Cash Money Mobile App
• Cash Money Personal Loans for June 2025
• Cash Money Loans Calculator

Sources

• Cash Money Cheque Cashing Website