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Rating by Finanso®

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About lender

FlexMoney is a fully digital installment lender issuing fast online loans to Canadians. All actions from the application till the last installment payment are arranged as an integral online process.

The company belongs to FlexMoney Corporation, established in 2012 with its headquarters in Toronto. It presents itself as a trustable lender providing quick, easy, seamless loaning solutions for various purposes. The company's mission is to provide access to credits online in Ontario, British Columbia, Alberta, Nova Scotia, Saskatchewan, Newfoundland & Labrador, Prince Edward Island, and Yukon Territory.


FlexMoney is a 100% online loan servicing company. It promises a high level of privacy and security. Bank-level encryption is announced as just one of the tools used to protect personal information.

The company offers a 24/7 service for accepting credit applications, automated verification, and approval decision to be reached within minutes. In addition, the approved funds are transferred rather quickly, mainly within the same or next banking day, depending on the loan agreement date.

The corporation offers loans in case of emergency for repairs, moving, renovation, medical purposes, and personal needs.

The loans can be partially paid off weekly, bi-weekly, semi-monthly, monthly, or in full. FlexMoney declares it has no hidden fees, charges, or penalties for early paying off. However, all general fees like an NSF (non-sufficient funds) fee or late payment fee are highlighted in the loan agreement.

Pros and cons


  • Although based in Toronto, Ontario, the corporation serves Canadians in Ontario, British Columbia, Alberta, Nova Scotia, Saskatchewan, Newfoundland & Labrador, Prince Edward Island, and Yukon Territory.

  • A preliminary online quotation can be received in minutes and imposes no obligations.

  • No in-person interview is required when FlexMoney reviews loan applications.

  • The customer support team is available to assist the clients and answer their questions throughout the loan service period.

  • FlexMoney informs the borrower about each amendment in application status by email, including confirmation that the funds are in transit.

  • The corporation declares it has no hidden fees.

  • Cash usually is available within 24 hours since the loan agreement is signed.

  • FlexMoney does not apply any origination fee.

  • The company's website interface is convenient and user-friendly for online loan applications.

  • The corporation practices no paperwork.


  • The annual percentage rate is pretty high; it starts from 18.9%

  • FlexMoney automatically verifies a client’s traditional credit data when considering loan applications using the industry's leading software.

  • The lender provides loans only at its terms and conditions, while a broker company typically offers several options to compare and select.

  • Several types of government aid are not included in the income.

The most vital advantage of the company is its fully online loan management and quick availability of funds. However, among the disadvantages are high annual percentage rates and verification of past credit history.

Loan conditions

  • Conditions for the first loan:

The interest rates start at 18.9% annually. But the exact rate depends on several circumstances, such as income, loan amount, and duration. The loan term may be as short as six months to as long as five years.

Credit payments are automatically withdrawn from the client's bank account; if it does not have sufficient funds, an NSF fee is applied. In case of late payment, the appropriate fee is also involved.

  • Conditions for the following loans:

Any following loan is granted only when the previous loan is paid off. The conditions do not crucially differ from the ones for the first loan. The credit history, including the earlier loans with FlexMoney, is considered.

Methods of a loan funding

As soon as the online loan agreement is electronically signed by both the borrower and the creditor, FlexMoney will transfer funds straight into the client’s bank account. The corporation marks that most customers receive the deposit the same day. Still, funds may arrive the next business day, depending on the time of loan approval and agreement signing.


What is FlexMoney?

FlexMoney is a digital lender providing one of the fastest loaning options for various purposes, like relocations, renovations, repairs, medical, or other emergencies. The company practices an online loan granting process. A borrower can apply for a loan, pass the identification procedure, get approval, digitally sign the loan agreement online, and get the funds mostly the same or the next bank day.

Who owns FlexMoney?

FlexMoney belongs to Flex Money Corporation. The headquarters of the company is located in Toronto, Ontario.

How do you qualify for FlexMoney?

To become a borrower with FlexMoney, it is required to:

  • be a Canadian citizen;

  • get a net income of $2,000 per month or greater for at least three months;

  • have an open and active bank account with a Canadian financial institution showing at least three months of transaction and banking history;

  • be not currently enrolled in active bankruptcy, consumer proposal, or credit counseling program;

  • have a valid email address and mobile phone number;

  • be at least 20-65 years old.

FlexMoney does not lend on Employment Insurance, Disability Benefits, Canada Child Benefits, Student Aid, or other government benefits (such as COVID-19 relief benefits.

How much can you borrow from FlexMoney?

FlexMoney offers loans from $500 up to $15,000 within terms from 6 to 60 months at annual percentage rates of 18,9% and higher.

Is FlexMoney a legitimate company?

FlexMoney is a legitimate company cooperating with credit agencies and financial institutions and complying with Canadian rules and regulations.

Company documents

Privacy Policy

FlexMoney is 100% online and are leaders in the digital lending industry. We’re one of the fastest options for an online personal loan in Canada and our application process is seamless so we can provide you with a fast decision to get you’re the cash you need.


Calculate loan payments in FlexMoney

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

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What to pay attention to when applying for a loan from FlexMoney

  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 FlexMoney 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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All FlexMoney’s reviews by October 2022
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