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Rating by Finanso®

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.

iCash's application


How to apply

Those who want to take short term loans need to complete the following procedure:

  1. Specify a loan amount, repayment frequency, and the province you are currently residing in, and click the "Get my loan!" button.

  2. Create an account by providing an email address (will be used as a login) and password.

  3. Fill in the application form by providing the required personal and contact information.

  4. Get the decision of the system. In most cases, it is made almost instantly, so you will not have to wait for approval for too long.

  5. Get money right after the contract is signed – the funds will be sent with Interac e-Transfer within the next 3-5 minutes.

The automatic system operates 24 hours a day and 7 days a week.

In case you have provided the wrong data iCash, the money will not be transferred.


Reasons for rejection

The main reason for rejection in iCash is when the applicant cannot meet the requirements.

There are some other criteria why sometimes the iCash staff says "No" to the clients. The company applies a system that analyzes data that has been provided by the client. It monitors whether there are any bills that have not been paid and other factors. The credit score does not matter, but if the client has a lot of other unpaid loans, iCash will have to reject the application. The system makes an automated decision based on various reasons. And it is not always about the credit history - this factor is taken into consideration only if a potential client has too many debts with other companies.

But if everything is in order, the iCash system will transfer funds automatically to the borrower's bank account via Interac e-Transfer system.

How long are applications considered?

First of all, the client needs to complete a loan application for iCash. Usually, this process takes about 5-10 minutes.

When all the necessary steps have been come through, the system will provide an automatic response regarding the loan issuance.

Applicants should keep in mind that sometimes it can take some time for the company to make a decision if the case some data seems to be suspicious.

How quickly can funds be received?

After the application has been submitted and the system confirms it, the funds will be transferred to the borrower's account almost instantly. Usually, the process takes about 3-5 minutes. However, there could be some delay because of the bank or another financial institution, but iCash company can not influence these processes.

Financial products

Payday loan
Rating by Finanso®

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™
100$ - 1500$

Effective interest rate on the product

15% - 23%

Loan term for the financial product

7 - 62 days

Calculate loan payments in iCash

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

iCash calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 01.10.2022
Loan amount

Enter the desired loan amount

100 $
1500 $
Loan term

Specify the loan term for the calculation


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

  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 iCash 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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