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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.

Speedy Cash's pay off

Finanso.Multilogin™

Repayment of loan

You can repay your loan at any office on or before its due date, or you can choose to have your payment withdrawn from your bank account according to a pre-authorized debit agreement. This method assumes that the service sets a particular day for this transaction.

Conditions of loan extension

Speedy Cash claims to understand that complicated financial situations can occur. However, they remain firmly committed to the full repayment day specified in the agreement, and it is your next payday. If you do not meet this requirement, you will face the consequences: credit score affected, late payment fees, collection agencies (not specified on the website), etc.

Early payoff

In most cases, customers prefer earlier repayment of the loan since they do not have to pay additional interest for a long time. Unfortunately, the Speedy Cash website does not mention this possibility, but some payday lenders offer the opportunity to repay early. But be careful, as there may be a charge for an early payoff. Contact the lender's team to determine if early repayment applies to your situation.

FAQ

How do I make a payment on Speedy Cash?

You can pay for a loan in several ways:

  • In-store cash;

  • Automatic monthly payment from your bank account.

The methods differ in the amount of time spent, so it is up to you to choose what is more convenient for you.

What happens if you don't pay back Speedy Cash?

In this case, you will undoubtedly face a deterioration of your credit score, late payment fees, collection agencies, and even legal expenses.

However, it may help if you tried to contact support to resolve this issue. In any case, do not leave the question without a solution so that you do not have debts and deterioration of the credit rating.

Can you pay Speedy Cash early?

Unfortunately, the Speedy Cash website does not mention this possibility, but some payday lenders offer the opportunity to repay early. But be careful, as there may be a charge for an early payoff. Contact the lender's team to determine if early repayment applies to your situation.

Can Speedy Cash sue you?

If you do not repay your loan before the end of debt collection, typically, a lender has the right to sue you to collect the debt. Unfortunately, the Speedy Cash website does not confirm they do it, but be careful! If a loan company wins the case, they could seize your property.

Financial products

Speedy Cash
Payday 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
$200-$1,500
Rate
i

Effective interest rate on the product

up to 599.64%
Term
i

Loan term for the financial product

up to 14 days

Calculate loan payments in Speedy Cash

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

Loan amount
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Enter the desired loan amount

CAD
CAD
200 $
1500 $
Loan term
i

Specify the loan term for the calculation

days
months
1
14

What to pay attention to when applying for a loan from Speedy Cash

  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 Speedy Cash 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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All Speedy Cash’s reviews by September 2022
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