Choose a country
Canada
Choose a city
Choose a city
Choose a language
English
Select country
Choose a country
Canada
Australia
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Россия
Lender
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.

1.0

Money Mart

Advertiser Disclosure

About company

Money Mart is a financial company that appeared in 1982 in Edmonton, Alberta. The lender has always aimed to set the highest customer service standards, convenience, and quality of financial services and products from the opening.

The company offers various financial products, including long, medium, and short-term loans, cheque cashing, money transfers, currency exchange, and prepaid cards. It has more than 2,000 employees and over 500 stores in Canada. Over a million customers use the services of Money Mart every year. Money Mart® is part of the Money Mart Financial Services family of brands, one of North America's leading providers of financial resources. Now it is known as Momentum Financial Services Group. They serve two million clients through hundreds of locations and mobile and online platforms.

Features

One of the most noticeable things about Money Mart is that this financial institution functions across North America. It is a pretty famous and reputable financial organization. The Canadian Money Mart website FAQ section is comprehensive; you can choose your topic and find an answer to almost any request of yours.

Money Mart provides a variety of ways to contact its team to obtain more information on its products or get help: on Facebook, Twitter, and Instagram, as well as via phone. You can also visit any of its branches. You can find information on the nearest one by hitting the Find Us button to locate the most convenient store.

There are many positive reviews on the company's business. The clients highlight the velocity and smoothness of the application process, especially the loan renewal. Customer service is also pretty often praised by customers. Still, some users mention technical difficulties and a lack of appropriate support, strongly criticizing these drawbacks.

Businesses can also enjoy the services of Money Mart: business loans and business check cashing. You can also receive support from business experts.

This lending company allows you to choose whether you wish to apply through a Standard or an Express procedure. The latter is the option for those who are in urgent need of cash, which implies obtaining your information through online bank verification. In this case, you must access an encrypted portal, Flinks, to authorize your bank or credit union to provide Money Mart with copies of your bank statements. If you decide to go through the Standard procedure, you will be asked to input all your information manually and send your bank statements to Money Mart. This option can be considered if you do not need your funds urgently to pay for some pressing things. If everything is not clear, you can still contact the support team.

Money Mart products

Among the products of the company, there are:

There is a difference for a borrower between a payday and an installment loan. However, if you take out a payday loan, ensure you’ll have enough income left over to cover other debts and bills on your due date. Otherwise, you might be obliged to apply for another payday loan to bridge the gap.

With an installment loan, your debt will be broken up into several payments, typically 12. So, when deciding between these two types of credit products, ask yourself whether it’s more manageable to have many less significant repayments or one single large repayment.

One of the most popular Mony Mart products is its Titanium+ Prepaid Mastercard is a reloadable card providing access to funds you loaded earlier. With the Titanium+ Prepaid Mastercard, you can choose between the Standard Plan and the Premium Plan, with monthly fees of $6.50 and $12.99, respectively. The Premium Plan allows you to avoid fees for certain transaction types. Peoples Trust Company issues the card.

Pros and Cons

Pros

  • Lending is suitable for clients with bad credit history and available for all purposes;
  • No hidden fees;
  • Mobile cheque cashing;
  • Loans for small businesses;
  • Extensive FAQ section;
  • Protection against gift card scams.

Cons

  • High-interest rates;
  • Available only in British Columbia, Manitoba, Nova Scotia, Ontario, and Saskatchewan;
  • A stable source of income is required;
  • Loan insurance;
  • NSF fees;
  • Credit history and credit score are evaluated;
  • Bank statement and pay stub are verified;
  • If paid out by direct deposit, it may take up to 2 business days.

Loan conditions

To apply, you have to comply with several basic conditions:

  • Reach at least 19 years old and provide a valid piece of ID
  • Have an active chequing account
  • Be able to provide proof of a steady source of income

However, remember that you may be asked to provide additional documentation. Your credit report is crucial for the lender's team to decide on your approval. Rather, they check your application's accuracy and payment history for several credit products.

The payday loan amount is from $120 to $1,500, and the term is between 1 and 62 days; APR varies by province. Money Mart payday loans are available for British Columbia, Manitoba, Nova Scotia, Ontario, and Saskatchewan residents.

The installment loan amount is from $1,000 to $15,000, and the term is between 12 and 60 months; the APR range is from 29.9% to 46.9%.

The first loan is at 0% APR for new clients. You can only have one outstanding loan: pay your loan in full before applying for a new one.

For example, suppose you take out a $4,500 loan from Money Mart with a term of 36 months. Your monthly installment will equal $234.98 at a 46.90% APR.

As for the loan repayment, you must set pre-authorized debit from your chequing account to repay your loan. However, if you prefer to pay offline, in-store, you have to make a payment at least three business days before your loan's due date so as not to incur late payment fees.

If your details have changed, you should do the following:

  1. Visit a Money Mart store to provide updated information supported by the necessary documents
  2. Contact Customer Service at 1-800-361-1407 if you have an active loan
  3. You can change your information in your online account, but only if you do not have an active loan

It is worth mentioning that you can pay off your loan anytime without incurring early payment penalties.

Methods of loan funding

Financing can be received with Interac e-Transfer, a direct deposit, or in cash in one of Money Mart stores across Canada. Financing can be received with one of the following methods:

  • Interac e-Transfer. A customer receives an email letter to accept a funds transfer within 2 hours.
  • In-store. A customer can get funds the same day in cash or use Interac e-Transfer.
  • Direct deposit. Funds are deposited to the borrower's chequing account within 1 or 2 business days.

The funding period depends on the bank. Sometimes, it can take up to 48 hours to transfer money to the chequing account. On working days this process usually takes one working day. On weekends funds transfer can take longer. With a mobile app, you can cash your check or receive the borrowed funds in minutes. Its app is available and free to everyone. Note: In Saskatchewan, you cannot connect to your bank for quick transactions through the mobile app. In general, the app boasts such attractive features as the possibility to manage your finances on the go. For example, you can make payments, apply for a loan, and view your account details. With the Money Mart mobile app, quick approvals and fast funding are at your fingertips. On AppStore, its rating is pretty high - 4.7 out of 5.

Money Mart

FAQ

What is Money Mart?

The company suggests currency exchange and different financial services. Moreover, it offers supporting products through a technology-enabled website with all the necessary client content. All these guarantees the customers of Money Mart have the opportunity to finance their immediate financial needs in a very comfortable way. The company offers:

  • Easy-to-use app that allows the clients to check their Money Mart loan details at any time and any place;

  • Easy and fast access to funding;

  • Flexible repayment conditions;

  • Easy and convenient cheque cashing;

  • Numerous stores across the country.

Who owns Money Mart?

It's a private corporation established in 1982 and incorporated in 2011 in Ontario, Canada. Now it's owned by the Money Mart Financial Services Group. Each branch of National Money Mart has its professional license. There are over 500 locations in Canada, with headquarters in Etobicoke, Ontario.

How do you qualify for Money Mart?

Requirements:

  • Stable income for the past few months;

  • Valid chequing account and a recent bank statement;

  • Be a resident of Canada;

  • Age of at least 18 years old;

  • Recent proof of permanent income (e.g., payslip);

  • Valid government-issued photo ID;

  • Valid email address and mobile phone number.

How much can you borrow from Money Mart?

Different minimum and maximum loan amounts are depending on the loan type.

  • Installment loans: $1,000 — $15,000

  • Payday loans: $120 — $1,500

  • Cash advance: $120 — $1,500

Is Money Mart a legitimate company?

Yes, it is. The company started in 1982 and was bought by Money Mart Financial Services Group. It's one of the largest providers of services to financially underserved consumers and businesses in North America. There are more than 2,000 employees in Canada and over 500 stores nationwide.

Money Mart has a 4,5 rating based on 2,900 reviews on Trustpilot.

Company documents

Privacy Policy
Terms and Conditions

We are a financial services company that began with the belief of putting people first. From the moment we first opened our doors, to the company we are today – we have always stood by our goal to set the highest standards for customer service, convenience, and quality financial products and services.

© National Money Mart Company
Money Mart service available provinces
  • Ontario
  • Quebec
  • Nova Scotia
  • New Brunswick
  • Manitoba
  • British Columbia
  • Prince Edward Island
  • Saskatchewan
  • Alberta
  • Newfoundland and Labrador
  • Northwest Territories
  • Yukon
  • Nunavut
Money Mart service available provinces
Financial products
Money Mart
Cash advance
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
$120-$1,500
Rate
i

Effective interest rate on the product

up to 575%
Term
i

Loan term for the financial product

up to 62 days
Money Mart
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
$1,000-$15,000
Rate
i

Effective interest rate on the product

up to 46.9%
Term
i

Loan term for the financial product

up to 60 months
Money Mart
Cash advance
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
$120-$1,500
Rate
i

Effective interest rate on the product

up to 575%
Term
i

Loan term for the financial product

up to 62 days
Money Mart
Cash advance
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
$120-$1,500
Rate
i

Effective interest rate on the product

up to 575%
Term
i

Loan term for the financial product

up to 62 days
Money Mart
Small business 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
$10,000-$300,000
Rate
i

Effective interest rate on the product

up to 22%
Term
i

Loan term for the financial product

up to 12 months
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.

1
Recommended FinScore™
0
300
650
1000
Similar products
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
$7,500 minimum
Term
i

Loan term for the financial product

12 - 96 months
Car Loans Canada
Car 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
$7,500 - $59,995
Rate
i

Effective interest rate on the product

up to 31.99%
Term
i

Loan term for the financial product

up to 96 months
Rifco
Auto financing
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
$5,000-$100,000
Rate
i

Effective interest rate on the product

up to 31%
Term
i

Loan term for the financial product

up to 86 months
Eden Park
Car 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
$1,000-$50,000
Rate
i

Effective interest rate on the product

up to 22.9%
Term
i

Loan term for the financial product

up to 84 months
iA Auto Finance
Car 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
$5,000-$50,000
Rate
i

Effective interest rate on the product

up to 29.99%
Term
i

Loan term for the financial product

up to 84 months
Borrowell
Personal 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-$50,000
Rate
i

Effective interest rate on the product

up to 39.99%
Term
i

Loan term for the financial product

up to 84 months
Apply
Coast Capital Savings
Personal 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-$50,000
Rate
i

Effective interest rate on the product

7.5%
Term
i

Loan term for the financial product

60 months
Refresh Financial
Credit builder 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
$1,250-$10,000
Rate
i

Effective interest rate on the product

up to 19.99%
Term
i

Loan term for the financial product

up to 60 months
Apply
Mogo
Personal 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-$15,000
Rate
i

Effective interest rate on the product

up to 46.96%
Term
i

Loan term for the financial product

up to 60 months
Apply
goPeer
Personal 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
$1,000 - $25,000
Rate
i

Effective interest rate on the product

up to 33.92%
Term
i

Loan term for the financial product

up to 60 months
Borrowell
Business 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-$50,000
Rate
i

Effective interest rate on the product

up to 39.99%
Term
i

Loan term for the financial product

up to 84 months
Lending Loop
Business 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
$1,000-$500,000
Rate
i

Effective interest rate on the product

up to 24.93%
Term
i

Loan term for the financial product

up to 60 months
Driven
Small business 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-$300,000
Rate
i

Effective interest rate on the product

set individually
Term
i

Loan term for the financial product

up to 24 months
Farm Credit Canada
Equipment Financing
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
Spring Financial
The Foundation
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
up to $1,500
Rate
i

Effective interest rate on the product

from 18.99%
Term
i

Loan term for the financial product

up to 12 months
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
Rate
i

Effective interest rate on the product

19.75% - 21.49%
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
Rate
i

Effective interest rate on the product

19.99% - 22.99%
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
from $5,000
Rate
i

Effective interest rate on the product

19.99% - 22.99%
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
Rate
i

Effective interest rate on the product

20.99% - 22.99%
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
Rate
i

Effective interest rate on the product

21.99% - 22.99%
Calculate loan payments in Money Mart

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

Money Mart calculator
Interest rates are given in accordance with the rates of the Money Mart of 24.02.2024
Loan amount
i

Enter the desired loan amount

CAD
CAD
USD
150 C$
1500 C$
Loan term
i

Specify the loan term for the calculation

days
months
1
62
Province

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

  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 Money Mart 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.
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Money Mart’s reviews by february 2024
Leave feedback
1
Advantages
How's your name on it that's it
Disadvantages
Bad customer service they can never fix your problems. I've also been waiting 2 months for a deposit from the hotel to be refunded to my card and that's very common with them I wouldn't suggest this card to anyone use it as your last resort
Complain
Overall company rating
1.0
/ 5
1 reviews
Execution of an application
1.0
Support service
1.0
Mobile app
1.0
Service quality
1.0
Your satisfaction level
1.0
Similar companies
MCAP
351 STN C Kitchener, ON N2G 3Y9
+1 (800) 265-2624
CMHC
700 Montreal Road Ottawa, On K1A 0P7
+1 (800) 668-2642
Alliance Financing Group
95 Royal Crest Ct #3, Markham, ON L3R 9X5
+1 (877) 660-3660
Accord Financial
40 Eglinton Avenue East Suite 602 Toronto, ON M4P 3A2
+1 (800) 967-0015
RMG Mortgages
P.O. Box 351, STN C Kitchener, ON N2G 3Y9
+1 (86) 809-5800