How to apply for a loan?
Mr. Payday's business is operating online. It's easy, quick, and paperless; no fax is needed. It's working to help every ordinary Canadian cope with financial problems.
Therefore there are some requirements if you want to get a payday loan.
What do you need to apply:
1. Go to the site https://www.mrpayday.ca
2. Fill out the online application with your personal information.
The data that will be needed or verified during the application:
your name, birthdate, address, email address, phone number, housing situation, employment information, income details, Social Insurance Number (SIN), and two references.
All the information is confidential and collected to evaluate the client's ability to take and pay back loans.
3. Review and submit your application.
4. Wait until the company verifies your information and gives approval within 30 minutes (during business hours).
5. Follow the email instructions.
6. A loan will be paid out by direct deposit or email money transfer by your choice.
Also, you could apply for a cash loan offline at the head office located in Vancouver, British Columbia.
The documents to take are:
• Two forms of government ID (one has to be a photo ID)
• A telephone bill in your name and mailed to your address or any other utility bill
• Your most recent pay stub
• A bank statement from the account into which your paycheque is deposited, showing your last 60 days of banking transactions
• A cheque or pre-authorized debit form from the same account
Application details
An application form could be filled out and submitted 24/7. In addition, the entire payday loan application process can be completed online.
Fill out an application that will take you 5 minutes: it's easy and paperless. Once all needed information is received, the decision will be made as fast as 30 minutes.
The loan will be paid out within 30 minutes by email money transfer or within two days by direct deposit as the application will be approved.
There are reasons why your application may be rejected: Mr. Payday agents consider the loan's affordability, your residency, and credibility.
The lender claims that it does not care about your credit history. Instead, it determines your ability to repay the loan using alternative scoring algorithms to get your loan approved.
Be sure to meet the requirements like the amount and source of income, a verified Canadian bank account, residency, etc. Also, check if you provide all the required information correctly.
Applying for a payday loan online is easy and quick — it will take about 5 minutes.
1. Go to the Mr. Payday official website and click the "Apply" button.
2. Choose the province in Canada where you live.
3. You can see the maximum charges permitted in your province and APR for your loan.
For instance, the maximum charges permitted in British Columbia for a payday loan: is 15% of the principal.
For a $300.00 loan for 14 days: Total cost of borrowing = $45.00.
Total to be repaid = $351.00.
Annual Percentage Rate = 391.07%
Click "Continue."
4. Fill in your name, and choose the loan amount. It could be any sum from $100 to $1,500 in increments of 100.
5. Choose your income type.
6. Fill in your email, phone number, address, and postal code.
7. Choose your status: are you a homeowner/ rent/ live with parents, etc., and how long have you been living there.
8. Fill in your date of birth.
9. Fill in your employment information: employer name, how long have you been employed, how do you get paid (direct deposit or paper cheque), how often, what dates are you paid, employment type (full/ part-time, etc.), job position, work phone number, and address.
10. Fill in your Social Insurance Number.
11. Give the information about two references: friends or family members who don't live with you. Their names, phone numbers, and relationship.
12. Choose the payment method: email money transfer or direct deposit (it is specified that the last one can take two business days).
13. Confirm the agreement with terms and conditions.
Your application has been received!
Provide your bank statement to process the application. You can speed up and increase chances for approval: verify your bank account information electronically. Click the «InVerite Account Verification» button.
Choose your bank and fill in your banking details.
If you provide all the necessary information, the decision can be made within 30 minutes.
Once approved, your loan will be funded according to the method you have chosen in your application: Interac Email Money Transfer — within 1 hour and direct deposit on your bank account — within two business days.
Also, you could get a cash advance loan offline at the head office located in Vancouver, British Columbia. Simply bring your bank statement for the last 60 days, your IDs, paystub, and a void cheque or pre-authorized debit form.
