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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.

Rifco's pay off



To ensure that the repayment is paying off in due time, to follow the repayment period, and to avoid additional interest and fees, Rifco offers a choice of payment options.

Thus, the customers are offered to make payment via:

  • Visa, Visa Debit, Mastercard, or Mastercard Debit. This is a no-fee payment, fast and convenient, which can be done online. Do it just from the website by selecting the "Make a Payment" option on the main page, lower part, and getting the "Make a Payment" page. Within this payment option name of the customer and Rifco account number are required.

  • Western Union. Western Union is a quick and easy way to send a wire transfer. Payments are received within 30 minutes of your transaction, but a service charge is applied. At the agent location, the client should complete the blue “Quick Collect” form and include the following information:

  1. Pay to: Rifco

  2. Code City: Rifco AB Senders account number with Rifco – a 6-digit account number that can be received at the Customer Service Team.

  • Online Banking. This is a no-fee payment. Rifco should be added as a payee in the bill payment account, a 6-digit Rifco account number is required.

  • Pre-authorized Payments. This is a no-fee payment. Rifco will require a copy of a void cheque or a pre-authorized debit form from the financial institution. The documents may be emailed or faxed. Verification that the documents are properly received may require, so contact the Customer Service Team.

  • Pay in office. This is a no-fee payment. Just choose the most convenient office and verify the operating hours. Payments accepted include debit, money order, and cheques.

  • E-Transfers. Banking fees may be applied to this type of payment. To make an e-transfer, use accounts@rifco.ner as the recipient email address, and indicate your name and Rifco account number.

  • Mobile payment web application.

In case of non-payment in time, the money may be automatically withdrawn from your account by Rifco.

Conditions of loan extension and making a payment early shall be discussed with Rifco individually, depending on the credit document the customer has signed.

By paying off your debt, you are getting a good credit history and more profitable conditions for the following loans which may decrease your financial burden.

When considering reducing the number of payments by early payments, do not forget that credit history is based on several successful payments, among other factors. It is also advised to investigate properly your loan agreement conditions to be sure you cover the principal and decrease the loan cost.


How do I make a payment on Rifco?

Making a payment with Rifco is quite easy as there are a lot of ways to do this. Use credit or debit cards, online bank transfer, Western Union, pre-authorized payments, e-transfer, mobile payment web application, or just pay in the office.

What happens if you don't pay back Rifco?

It is better not to allow this situation to happen. Remember that any missed payment brings a derogatory mark on your credit report and may negatively influence your credit score.

If you miss a loan payment, Rifco will contact you first to get the issue settled and then will follow the procedures to get the money and, if necessary, may consider your account as delinquent.

Defaulting on a car loan will affect further credits, including mortgages and credit cards. Your car can be repossessed and sold out at an auction. In case the sum gained upon selling does not cover the total debt amount, the lender will come back to you to get the rest of the money or even sue you. A repossession is considered a serious degrading point for a credit report and will stay there for seven years. Any remaining debt can be also sent to collections, and you may face further problems, including a lien to put on your house.

Can you pay Rifco early?

Rifco is not very clear with early payments, so it is recommended to verify what is indicated in the loan contract and address the lender.

Can Rifco sue you?

Any lender can sue you if are have defaulted on your payments. It is reasonable to settle the issues amicably and make payments in time.

Calculate loan payments in Rifco

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

Loan amount

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Loan term

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

  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 Rifco 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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