Trust check
Is CashMoney legit?
Cash Money is licensed where they lend, has been in business for over three decades and holds a top BBB rating. However, they are not CLA certified.
CashMoney: Overview
If you need money before payday, or a credit line you can draw on whenever bills stack up, Cash Money offers both and handles everything online. Cash Money has been lending to Canadians since 1992, helping people cover everyday bills and unexpected costs when their paycheque falls short.
Is Cash Money Right For You?
Cash Money could be a good fit for you if:
Good Fit If
- You want credit you can reuse without reapplying: You can get up to $10,000 and you only pay interest on what you use, with payments timed to your income deposits.
- A bill can't wait until next week: Payday decisions come back in 10 minutes or less, and choosing Interac e-Transfer gets the money to you in as little as 15 minutes.
- Your income isn't a regular paycheque or your credit has dents: EI and disability income are accepted, and pre-approval uses a soft credit check, so you can see where you stand before anything shows on your file.
What Cash Money Offers
Cash Money offers two main products, a line of credit of up to $10,000 and payday loans of up to $1,500, and you apply for both online or by phone.
Line Of Credit
The Cash Money line of credit gives you a limit you can draw from whenever you need it, up to $10,000. You pay interest only on the amount you've used, and your payments are scheduled around the days your income is deposited.
| Credit Limit | Up to $10,000 |
| Interest Rate | 34.99% APR |
| Payments | Due on your scheduled income deposits |
| Funding Time | As little as 15 minutes by Interac e-Transfer |
Features
- Interest only on what you use: If you have a $5,000 limit and draw $1,000, you pay interest on the $1,000.
- Extra payments welcome: Paying more than the scheduled amount lowers your balance and the interest you pay.
- Borrow again as you repay: The line stays open, so the room you pay back is available to draw again.
- Soft-check pre-approval: You can see if you're pre-approved without affecting your credit score. A hard inquiry only happens once you accept the line of credit.
- Optional loan protection: You can add a Loan Protection Plan, underwritten by Securian Canada, if you're between 18 and 69.
Payday Loan
A Cash Money payday loan gives you up to $1,500, repaid on your next payday, at $14 per $100 borrowed. Payday loans are available in British Columbia, Manitoba, Newfoundland and Labrador, Ontario and Saskatchewan.
| Loan Amount | Up to $1,500 |
| Cost | $14 per $100 borrowed |
| Term | Your next payday |
| Funding Time | As little as 15 minutes by Interac e-Transfer |
Features
- A decision in 10 minutes or less: Payday applications are approved quickly, so you know where you stand right away.
- No collateral needed: You don't need to put anything up as security, and you don't need great credit to apply.
How Fast You Get Paid
| Stage | Timing |
|---|---|
| Pre-Approval | Soft credit check, with no effect on your score |
| Payday Loan Decision | 10 minutes or less |
| Interac e-Transfer Funding | As little as 15 minutes |
| Direct Deposit | Sent to your bank account |
| Phone Support | Monday to Friday 8am to 10pm, Saturday 9am to 10pm, Sunday 10am to 8pm ET |
Who Can Borrow From Cash Money
| Requirement | What Cash Money Asks For |
|---|---|
| Income | A steady source of income. EI and disability income are accepted |
| Bank Account | An open chequing account |
| Age | 18 or older |
| ID | Valid government-issued ID |
| Contact Details | A working phone number |
| Credit | A soft check for pre-approval, and a hard inquiry only when you accept a line of credit |
Applying With Cash Money
1
Apply online or by phone: Fill in the application and find out if you're pre-approved, using a soft credit check that doesn't affect your score.
2
Verify and sign: Cash Money confirms your details and makes a decision, and you sign your agreement electronically.
3
Get your money: Choose Interac e-Transfer for funding in as little as 15 minutes, or have the money sent by direct deposit.
Cash Money now serves customers exclusively online and by phone, so there's no branch to visit and no cash pickup.
What Borrowing From Cash Money Costs
The line of credit charges 34.99% a year on the amount you've drawn. Payday loans cost $14 per $100 borrowed, which works out to an APR of 365% on a 14-day loan.
Line Of Credit
| You Draw | Paid Off Over | Monthly Payment | Total Interest | Total You Repay |
|---|---|---|---|---|
| $1,000 | 12 months | $99.96 | $199.50 | $1,199.50 |
| $2,500 | 24 months | $146.28 | $1,010.80 | $3,510.80 |
| $5,000 | 36 months | $226.15 | $3,141.47 | $8,141.47 |
| $10,000 | 48 months | $389.65 | $8,703.31 | $18,703.31 |
These numbers are for illustrative purposes only. Actual numbers may vary.
Payday Loan
| You Borrow | Cost Of Borrowing | Total You Repay |
|---|---|---|
| $100 | $14 | $114 |
| $300 | $42 | $342 |
| $500 | $70 | $570 |
| $1,000 | $140 | $1,140 |
| $1,500 | $210 | $1,710 |
These numbers are for illustrative purposes only. Actual numbers may vary.
Is Cash Money Licensed?
Cash Money holds payday lending and line of credit licences under CURO Canada Corp.
British ColumbiaPayday lender licence 50066, expires October 31, 2027 · Consumer Protection BCVerified
British ColumbiaHigh-cost credit licence 83707 (line of credit) · Consumer Protection BCVerified
OntarioPayday lender licence 4716730 · Consumer Protection OntarioVerified
AlbertaHigh-cost credit licence, bonded, expires January 31, 2027 · Service AlbertaVerified
ManitobaPayday lender licence 81903, expires August 31, 2028 · Manitoba Consumer Protection OfficeVerified
SaskatchewanPayday lender licence 316496 · Financial and Consumer Affairs AuthorityVerified
Newfoundland and LabradorPayday loan licence 21-23-CA291-1 · Digital Government and Service NLVerified
Newfoundland and LabradorLicence 25-24-CA291-1 (line of credit) · Digital Government and Service NLVerified
What Cash Money Customers Say
4.3
Trustpilot, 6,763 reviews
Claimed since August 2017, with 72% of reviewers giving five stars.
A+
BBB letter rating
Not BBB accredited. 41 complaints in the last three years.
34 years
In business
Lending to Canadians since 1992.
Why Borrowers Choose Cash Money
Pros
- A reusable line of credit: Borrow up to $10,000, pay it down and draw again without a new application.
- Money within minutes: Interac e-Transfer funding arrives in as little as 15 minutes.
- Soft-check pre-approval: You can see where you stand before a hard inquiry ever touches your file.
- Benefits income accepted: EI and disability income count toward qualifying.
- A long track record: Lending since 1992, with an A+ rating from the Better Business Bureau.
- Phone support seven days a week: Agents are available evenings and weekends.
What To Weigh Before You Apply
Cons
- Payday loan pricing: While a $500 payday loan costs $70, the line of credit gives you a lower-cost way to borrow at 34.99% a year.
- No stores to visit: While Cash Money no longer serves customers in person, you can apply online or by phone and be funded by e-Transfer within minutes.
- A hard inquiry to open a line of credit: While accepting a line of credit triggers a hard check, pre-approval uses a soft one, so you know your answer first.
Cash Money vs LendDirect vs Fora
Comparing CashMoney, LendDirect and Fora on loan amount, interest rate, term, availability, funding time, funding method, repayment options, eligibility and required documents, as listed by each lender.
| Feature |  CashMoney Line of Credit Apply now Learn more |  LendDirect Personal Line of Credit Apply now Learn more |  Fora Line Of Credit Apply now Learn more |
|---|---|---|---|
| Loan amount | Up to $10,000 | Up to $10,000 | $1,000 – $15,000 |
| Interest rate | 34.99% | 34.99% | 19.9% – 34.9% |
| Term | 6 - 60 months | Open-ended | Open-ended |
| Available in | All provinces except PE, QC | All provinces except MB, NB, QC | AB, BC, NB, NS, ON, SK |
| Funding time | Typically within 24 hours | In as little as 15 minutes* with Interac e-Transfer® | As soon as the same business day |
| Funding method |
|
| Direct Deposit |
| Repayment | Automatic debit | Automatic debit |
|
| Eligibility |
|
|
|
| Requirements & documents |
|
|
|
Figures are as listed by each lender and can change. Check the lender's site before you apply.
Cash Money FAQs
Is Cash Money a legit lender?
Yes. Cash Money has been lending since 1992 and operates as CURO Canada Corp., part of Attain Finance. They hold an A+ rating with the Better Business Bureau and a 4.3 out of 5 on Trustpilot.
Does Cash Money do a credit check?
Pre-approval uses a soft credit check, which doesn't affect your score. If you accept a line of credit, Cash Money then runs a hard inquiry.
How fast can I get money from Cash Money?
Payday decisions come back in 10 minutes or less. If you choose Interac e-Transfer, the money can arrive in as little as 15 minutes, and direct deposit is also available.
How much does a Cash Money line of credit cost?
The line of credit has an APR of 34.99%, charged only on the amount you've drawn. Drawing $1,000 and paying it off over 12 months costs about $199.50 in interest.
How much does a Cash Money payday loan cost?
$14 per $100 borrowed. A $300 payday loan costs $42, so you repay $342 on your next payday, an APR of 365% over 14 days.
Does Cash Money still have stores?
No. Cash Money now serves customers exclusively online and by phone, with funding by Interac e-Transfer or direct deposit.
Can I get a Cash Money loan on EI or disability?
Yes. Cash Money accepts EI and disability income, as long as you have a steady source of income and an open chequing account.
Which provinces does Cash Money lend in?
Payday loans are available in British Columbia, Manitoba, Newfoundland and Labrador, Ontario and Saskatchewan. The line of credit is offered in select provinces, and you'll see if it's available to you when you apply.
How do I contact Cash Money?
Call 1-877-526-6639, Monday to Friday 8am to 10pm, Saturday 9am to 10pm and Sunday 10am to 8pm ET, or email customerservice@cashmoney.ca.
