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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Cash Money

Finanso.Multilogin™

About lender

Cash Money is a company that provides various types of lending for the sum up to $10,000 at attractive rates in Canada.

Cash Money Cheque Cashing, Inc. appeared in 1992. Today it is one of the most reliable payday loan lenders in Canada. Its financial services with attractive terms have already been recognized by over a million customers across Canada.

The service is designed for those who need money right now, without wasting time visiting banks and lengthy consideration of applications, as this process takes around 10 minutes at Cash Money. In case of a positive decision, funds are transferred to the borrower within 15 minutes. The purpose of lending is not essential so that you can get a loan for any need.

The company is a Canadian Consumer Finance Association (CCFA) member.

Pros and cons

Here are the advantages of getting a loan from Cash Money:

  • Depending on your financial goals, you can choose between a payday loan, an installment loan, and a line of credit;

  • Flexible loan sizes and a possibility to receive an amount up to $10,000;

  • Ability to improve credit history;

  • No strict employment requirements;

  • New customers get a promotional rate;

  • You can refinance your loan (provided that your account is in good standing and your available credit exceeds the minimum payment);

  • Different ways to get funds are available;

  • You can expect the same-day approval and funding;

  • Flexible payment terms allow you to make payments bi-weekly or monthly.

  • Early prepayments on installment loans are penalty-free;

  • There is an option to buy loan protection insurance additionally.

But, there are potential drawbacks as well:

  • Cash Money is available only in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, and Nova Scotia;

  • If you live in Manitoba or New Brunswick, you can apply for a loan in-store only(

  • The interest rate is 46.93%, which is pretty high;

  • According to reviews on the Internet, you can face establishment fees, missed payment fees, and penalty fees;

  • Be ready for a temporary dip in your credit score as the lender runs a hard check on your credit file.

As we can see, fast approval, the convenient application process, flexible payment terms, and an opportunity to refinance your loan are certain advantages of Cash Money. The major disadvantages, though, are the steep interest rate, the potential for additional charges, and your credit score reduction.

Loan conditions

Cash Money provides lending services of 3 kinds:

  • Payday loans from $50 to $1,500. The term of a loan depends on the borrower's location. In general, the creditor's reward for using the cash advance service is about $20. Also, because of the payday loan small sum and the short term, the overpayment is reduced;

  • Installment loans allow you to receive from $50 to $10,000 for any need; the term varies between 6 and 60 months for just 46.93% APR, regardless of the amount of cash advance, the terms, and the borrower's location. The minimum amount paid for every due date equals only $60 under certain conditions;

  • Credit lines from $50 to $10,000 at the rate of 46.93% APR. The final rate is calculated for each client on an individual basis. Loans from this category are designed for those who need long-term repayment.

Methods of a loan funding

An applicant specifies in the personal account of the automated Cash Money system the lending amount, the term, as well as the method of receiving funds. A loan can be issued:

  • To the borrower's bank account;

  • With Interac e-Transfer®;

  • To the Opt+ card issued by PACE Savings & Credit Union Limited under the license of Mastercard™ International.

FAQ

What is Cash Money?

Cash Money is a Canada-based lender providing payday loans, installment loans, and lines of credit. With Cash Money, you can apply for a loan either online or in-person at a store. When applying in-store, you can get cash in as little as 15 minutes upon approval. When applying online, you can get cash in-store, receive funds directly into your bank account, load money to your existing Opt+ card, or get an Interac e-Transfer®.

Who owns Cash Money?

The legal name of the company is CURO Canada Corp o/a "Cash Money". Dave Hews is the president and owner of Cash Money.

How do you qualify for Cash Money?

To qualify for a loan from Cash Money, you must:

  • Be at least 18 years old

  • Be a Canadian resident

  • Live in one of the provinces where Cash Money is available

  • Have a minimum credit score of 560

  • Have a minimum monthly income of $1,000

Here is the information you will need to provide to confirm your eligibility:

  • An open chequing account in your name

  • Proof of recurring income (your gross/net income, pay cycle frequency, and employment details)

  • Working telephone number

  • Valid email address

As for eligible income sources, Cash Money accepts not only employment income but also unemployment and disability benefits.

How much can you borrow from Cash Money?

With Cash Money online, you can get a payday loan in a range from $100 to $1,500. Keep in mind that Cash Money follows the provincial regulations that can limit the maximum loan amount they can lend. So, be sure to check the maximum loan amount in the province you live in. 

Is Cash Money a legitimate company?

Founded in 1992, Cash Money has been providing financing for 20+ years already. The company is a member of the Canadian Consumer Finance Association, and it follows all provincial regulations. 

The headquarters of Cash Money is at 400 Carlingview Drive, Toronto, Ontario, M9W 5X9.

Cash Money offers extended store hours — 7 days a week:

  • Mon-Fri: 08:00 - 23:00 (ET)

  • Sat-Sun: 09:00 - 17:00 (ET)

Their Contact Center is ready to help every day and replies to all inquiries within 24 business hours. Here are the best ways to reach them:

  • Phone: 1-877-526-6639

  • Fax: 1-855-493-8101

  • E-mail: CustomerService@CashMoney.ca

Company documents

Privacy Policy
Terms of use

Your comfort depends on trust. Your trust in us is one of the many reasons we abide by all provincial laws and regulations. And as a member of the Canadian Consumer Finance Association, we follow responsible lending practices in-store and online. We take our online security measures seriously to protect your financial info, data and passwords.

© Cash Money

Financial products

Cash Money
Line of credit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$10,000
Rate
i

Effective interest rate on the product

up to 46.93%
Term
i

Loan term for the financial product

open-ended
Cash Money
Installment loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$10,000
Rate
i

Effective interest rate on the product

up to 46.93%
Term
i

Loan term for the financial product

up to 60 months
Cash Money
Payday loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
50$ - 1500$
Rate
i

Effective interest rate on the product

up to 391%
Term
i

Loan term for the financial product

1 - 62 days

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up to 575%
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up to 62 days
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$500-$50,000
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Effective interest rate on the product

up to 7.5%
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Loan term for the financial product

up to 60 months

Calculate loan payments in Cash Money

Cash Money calculator will allow you to calculate an approximate payment schedule for the loan

Cash Money calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 15.08.2022
Loan amount
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CAD
50 $
10000 $
Loan term
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Specify the loan term for the calculation

months
days
6
60
Province

What to pay attention to when applying for a loan from Cash Money

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Cash Money from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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