Choose a country
Choose a city
Choose a city
Choose a language
Select country
Choose a country
United States
Việt nam
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.

My Canada Payday


About lender

My Canada Payday is a financial company in Canada established in 2010 and operated by Westrock Financial LTD. Since 2010, Westrock Financial LTD has offered payday loans as My Canada Payday in British Columbia. Now the company is operating in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario, and Nova Scotia.

The main company’s goal is to simplify the loan process as much as possible. That's why

My Canada Payday allows customers to submit a loan application from $100 up to $1,500 online and get approvals in as little as 15 minutes.


The company promeses a very quick financing. Me Canada Payday prides itself in a personalized approachad thus, on a high approval rate.

However, one should be ware of a high annual persentage rate of this lender. It can reach as high as 517%.

Pros and cons

Before applying for a payday loan in My Canada Payday, it’s worth considering the main advantages and disadvantages of the borrowing process.


  • Fast online loan application.

  • Approval of a loan application within 15 minutes.

  • Unsecured loans.

  • Payout by Email 24/7 Payday Loans within minutes for returning customers.

  • Fast and helpful customer service.

  • Extended repayment.

  • A score of 4.4 on Trustpilot.


  • The loan amount depends on net pay.

  • APR is as high as 517%.

  • Loan rates vary by province.

  • Late fee for non-payment.

  • Borrowing fee.

And these are just the main facts about the company. Next, take a closer look at the company's advantages and disadvantages to obtain a complete view of the company’s activities.

Loan conditions

My Canada Payday provides information about loan offers and conditions for the loans for one to understand whether it is relevant for them to use its services. Also, there is a transparent application structure. The application process can be completed online in less than 30 minutes. All loans can not exceed 60 days in length. The company accepts applications for payday loans from Full and Part-Time Employed, Pensioners, Disability, and Child Tax Benefits.

Typically, the borrower must be employed at a local job and regularly paid by Direct Deposit or cheque. The company also asks for proof of income: the screen captures of personal web banking for 180 days of banking history using the Inverite application. My Canada Payday can also require recent paystubs or other proofs of address. Each loan application is considered individually. So, the client will receive the answer usually on the same day as the loan application. The funds are sent to the client by Interac Email Transfer immediately after the acceptance.

The conditions for the following loans are simple. If the client’s employment and paycheque situation has not changed, the client can get the same loan again. Starting with a third loan, the client will be eligible to borrow more funds each time. Anyway, the client can borrow no more than 50% of the total take-home paycheque.

Methods of loan funding

The clients can get the loan in less than 30 minutes. There is no need to visit a store, sign papers, and send faxes. The whole process takes place in an online application. Once My Canada Payday approves the loan, the client gets funds by Email. The returning clients can borrow money within 5 minutes.

The application process is simple: the client goes on the company’s website, verifies identity and banking information, and waits until the company gives a link with a Loan Agreement contract to the client’s email. The funds will be sent immediately after the agreement. The payment will automatically be charged for the loan amount plus the borrowing fee.


What is My Canada Payday?

My Canada Payday is an online lender offering payday loans within almost 15 minutes. The company operates as a fully licensed Payday Lender in British Columbia, Manitoba, Alberta, Nova Scotia, Saskatchewan, and Ontario. My Canada Payday is a member of the Canadian Consumer Finance Association.

Who owns My Canada Payday?

My Canada Payday is owned by Westrock Financial, LTD, a direct lender founded in 2008 and based in Surrey, British Columbia, Canada.

How do you qualify for My Canada Payday?

To get a loan, the client needs to:

  • Be 18 years or older

  • Be a Canadian resident. 

  • Be employed with a steady income and paid by direct deposit or cheque. 

  • Have proof of income ( submitting screen captures of web banking with 180 days of banking history). 

  • Have a valid phone number, email, and home address. 

How much can you borrow from My Canada Payday?

The client can get a personal loan from $100 to $1,500. In addition, the company offers loan terms wide-ranging.

Is it a legitimate company?

Yes. My Canada Payday is 100% Canadian-owned and operated by Westrock Financial LTD.

The company has Payday Lender's licenses for each province:

BC Payday Loan License # 52546;

Ontario Payday Loan License # 4721539;

Alberta Payday Loan License #342618;

Nova Scotia License # 211843061;

Saskatchewan License # 100055;

Manitoba License # 67816.

Company documents

Privacy Policy
Terms and Conditions
Responsible Lending

Online payday Loans are high cost loans. Loan amounts are subject to net pay and other qualification requirements.

© MyCanadaPayday

Calculate loan payments in My Canada Payday

My Canada Payday calculator will allow you to calculate an approximate payment schedule for the loan

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 My Canada Payday

  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 My Canada Payday 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
Your complaint has been recorded
Invalid username or password
Please log in to like/dislike
Invalid SMS code has been entered
All My Canada Payday’s reviews by October 2022
Leave feedback

Similar companies

33 City Centre Dr #510, Mississauga, ON L5B 2N5
1 844 446 3279
TD Canada Trust Tower, 161 Bay St. 27th Floor, Toronto, ON M5J 2S1
Auto Loan Solutions
3200 Bloor Street West Toronto, ON M8X 1E1
License No. 6482091
130 Adelaide St W, Suite 3100, Toronto, Ontario, Canada, M5H 3P5.
Symple Loans
161 Bay Street, Suite 2700 Toronto, ON, M5J 2S1