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

Money Mart's pay off

Advertiser Disclosure

It is possible to repay a loan through a pre-authorized debit from the customer's chequing account or in cash in one of the Money Mart stores across the country. If you choose the second payment method, it must be used at least three working days before the due date. After that, you will be able to apply for a new loan.

According to the reviews on the internet, loan renewals with Money Mart are easy and comfortable. On the contrary, there are many negative reviews on BBB regarding billing and collection action.

Conditions of loan extension

The company applies the extended payment plan for cash advances for Alberta, British Columbia, Newfoundland & Labrador, and Ontario residents. The conditions depend on the province of the client's residence. The number of installments depends on the pay frequency. If you make bi-monthly or more frequent payments, you can pay off the loan in equal installments over three pay periods. In case of making monthly or less regular payments, the loan should be repaid over two pay periods.

  • Alberta: all customers get funding which can be repaid in installments.
  • British Columbia, Newfoundland & Labrador: customers who get the third cash advance within 62 days qualify for the extended payment plan.
  • In Ontario: customers taking their third Cash Advance in 63 days qualify for the extended payment plan.

Note: in all other circumstances, your loan must be paid off in full on the due date.

Early payoff

Customers can repay their loans early without any penalties. Once the payment has been obtained and processed, you can reapply for another Money Mart loan in Canada. There is always an option of repaying the credit in full in one payment.

FAQ

How do I make a payment on Money Mart?

The funds are automatically deducted from your bank account according to the specified loan schedule. You can pay in-store in cash, but ensure you have three working days before the due date. Three days are necessary because the pre-authorized debit needs to be wired to the bank for processing, and typically the banks require this period to cancel a pre-authorized debit.

What happens if you don't pay back Money Mart?

If you know that the payment will be missed, you should contact the company's customer services by emailing CustomerCare@MoneyMart.ca at least three working days in advance to discuss alternative arrangements.

According to Money Mart's privacy policy, it can collect, use, and share your personal information to collect the debt that may become owed to Money Mart. So you can face collection and legal action.

Can you pay Money Mart early?

Yes, you can. It's penalty-free to make early or additional repayments or settle up the entire loan. If you successfully complete this action, you can apply for a new Money Mart loan immediately.

Can Money Mart sue you?

Yes, it can. The company claims that unless payment is received, it will consider all options permitted by law to pursue the collection of the debt. According to Money Mart's privacy policy, it can collect, use, and share your personal information to collect the debt that may become owed to Money Mart. So you can face collection and legal action. So unpaid loans could be collected in court.

If you cannot make a payment, call 1-800-361-1407 to discuss your payment options.

Borrowing with alternative lenders, especially payday loans, should be taken only in the worst of cases, as the interest rate is high, and it may become complicated to accumulate the funds to repay the loan. You may get stuck in a lending cycle.

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
Money Mart
The Titanium+® Prepaid Mastercard®
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

Similar products

Canadian Imperial Bank Of Commerce (CIBC)
CIBC Personal 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 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
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
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
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
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
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
Toronto-Dominion Bank
TD® Cash Back Visa Card®
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%
Toronto-Dominion Bank
TD® Aeroplan® Visa Infinite Card
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%
Scotiabank
Scotia Momentum® Visa Infinite Card
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%
Royal Bank of Canada
RBC British Airways Visa Infinite®
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%
Royal Bank of Canada
RBC Avion Visa Infinite Privilege®
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 bank in Ottawa as of 05.02.2023
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 2023
Leave feedback

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