Mr. Payday 2026 Reviews, Fees & Requirements

Mr. Payday is a payday lender that has been serving Canadians since 2002. It offers borrowers payday loans of up to $1,500, with no credit check, and you apply entirely online in British Columbia, Alberta and Ontario.

Once you are approved, the money moves quickly. Funds are sent by e-transfer, usually within about 30 minutes of approval during business hours, and the application is paperless, so there are no pay stubs or utility bills to scan and upload. It is also open on Saturdays, which matters when a car breaks down on a weekend and most lenders will not look at your file until Monday.

Are You The Right Borrower For Mr. Payday?

A payday loan from Mr. Payday could be a good fit for you if:

What We Verified

Before we write about a lender, we run it through the same set of checks, so you can see the basics without having to dig through a company’s website yourself.

What They Offer

Mr. Payday offers payday loans in three provinces, British Columbia, Alberta and Ontario.

It keeps things simple, because there is only one product. You borrow up to $1,500 against your next paycheque and pay it back on your next payday, and the cost is the same in all three provinces at $14 per $100 borrowed.

Payday Loan Features

• 30 Minute E-Transfer Funding – If you are approved during business hours, your money is sent by e-transfer, usually within about 30 minutes of that approval, so there is nowhere you need to go to collect it.
• Open On Saturdays – Applications are accepted around the clock and reviewed during business hours, which run Monday to Thursday 10am to 6pm, Friday 9am to 6pm and Saturday 9am to 3pm Pacific time. A Saturday emergency does not have to wait for Monday.
• A Paperless Application – Income is verified electronically, so you are not asked to scan or upload pay stubs, bank statements or utility bills.
• A Wide Range Of Income Accepted – At Mr. Payday, income is what matters rather than where it comes from. Employment, CPP, OAS, EI, child tax benefit, private disability, WCB and gig or freelance work all count, as long as you take home at least $1,200 net a month.
• A Two Day Cooling Off Period – If you change your mind, you can cancel the loan within two business days at no penalty. This is a provincial right rather than something unique to Mr. Payday, but it is worth knowing you have it.
• No Prepayment Penalty – You can clear the loan early at any time without paying extra, which is worth doing if your money comes in sooner than expected.
• No Rollover Fees – Mr. Payday states it does not charge fees to extend a loan, which is the mechanism that turns one payday loan into a cycle of them.
• A 50% Net Pay Cap – Loans are capped at half of your net pay, which is the provincial affordability rule and keeps the repayment from swallowing an entire paycheque.

What A Mr. Payday Loan Costs

Mr. Payday charges $14 per $100 borrowed, which is the maximum a payday lender is allowed to charge in all three provinces it operates in. The table below applies that published rate across the range it lends in.

In Alberta the loan runs over about six weeks rather than two, because provincial rules require payday loans there to be repaid in instalments over a longer period. The fee per $100 does not change, so a longer term in Alberta means a lower APR on the same dollar cost. That works the other way too. Mr. Payday’s own site points out that a shorter term pushes the APR higher, which is why you may see figures well above 365% quoted for the same $14 per $100.

If You Pay Late

Mr. Payday says to contact its support team if you think you are going to miss a payment. If the payment is returned, two costs can follow.

Your bank may charge you an NSF fee for the returned payment. Since 12 March 2026, those fees are capped at $10 per failed payment at federally regulated banks and credit unions, down from the $45 to $48 they used to run. Mr. Payday may also charge a returned payment fee of its own, within the limit your province allows, and interest can start to accrue on the unpaid balance at the rate your province authorizes.

Who Qualifies

Mr. Payday lends against government benefits, including CPP, child tax benefit and EI, which many lenders will not do. That widens access considerably, and it also means the borrowers using it are often the least able to absorb a $14 per $100 fee.

If You Pay Early

There is no prepayment penalty. You can clear the loan at any point without paying extra, and in British Columbia and Ontario you also have a two business day cooling off period, during which you can cancel the loan outright at no cost.

How To Apply

Mr. Payday takes applications online only, and it runs 24 hours a day, though approvals happen during business hours. There are no documents to scan, since income is verified electronically rather than by asking you to upload pay stubs.

Before you start, have these ready:

• Proof of age, 19 or older in British Columbia and 18 or older in Alberta and Ontario, and Canadian residency
• A verifiable income of at least $1,200 net per month
• An active chequing account set up for direct deposit
• A working phone number

The process runs in three stages. You complete the online application form, Mr. Payday reviews it and typically returns a decision in about 30 minutes during business hours, and your funds are then sent by e-transfer.

Where Mr. Payday Is Licensed

Mr. Payday holds a payday lending licence in every province where it operates. Each licence is issued to Mr. Payday Easy Loans Inc., which is the name to search if you want to check any of this yourself.

Payday lending is licensed province by province, and the licence is specific to payday lending rather than to consumer lending generally. Mr. Payday is a direct lender rather than a broker, which means it funds the loan itself and your application is not passed on to other companies.

Payday Loan Alternatives

Before you apply, it is worth spending a few minutes on the options below. Every one of them costs you less than $14 per $100 over two weeks, and two of them cost nothing at all. Some will not be open to you, and that is fine, but you will not know until you ask.

Ask Your Employer For A Payroll Advance

This is the one people forget, and it is usually free. Plenty of employers will advance you part of a paycheque you have already earned, with no fee attached. It is your own money, just paid to you a couple of weeks early. Speak to whoever handles payroll where you work, and ask what their policy is. The worst you will hear is no.

Ask The Biller For More Time

If you are borrowing to cover a bill, start with the company sending it. Utilities, landlords and phone providers very often have hardship arrangements or payment plans that they do not advertise anywhere. A phone call costs you nothing, and people are frequently surprised by how willing a biller is to move a due date rather than lose the payment altogether. Try this before you take on a loan at 365% just to pay them.

An Installment Loan From An Alternative Lender

If you need longer than one pay period to clear this, an installment loan is worth looking at. Ordinary consumer lending is capped at 35% APR under federal law, while payday lending is exempt from that cap, and the difference in what you pay is not small. Borrow $300 over the same two weeks at 35% APR and it costs you roughly $4, against $42 here. You will need to pass a credit check, so this one depends on where your credit sits.

Overdraft On Your Chequing Account

If your bank will approve it, overdraft protection usually runs about $5 a month plus around 21% interest on what you actually use. For a small shortfall that you clear in a few days, that works out far cheaper than a payday loan. It is worth calling your bank to ask, and it is worth setting up before you need it, since it is there the next time money runs short.

What Customers Say

Mr. Payday comes out better on the review platforms than most lenders in this category.

Mr. Payday Pros

• No credit check. Your credit score does not decide whether you are approved, which is the entire reason the product exists.
• Fast. About 30 minutes to a decision during business hours, then funds by e-transfer.
• Open on Saturdays, which most lenders are not, so a weekend emergency does not have to wait until Monday.
• Nothing to upload. Income is verified electronically, so there are no pay stubs or bank statements to scan.
• A direct lender, not a broker. Mr. Payday funds its own loans, so your application is not sold on to other companies.
• Accepts almost any verifiable income, including CPP, OAS, EI, child tax benefit, private disability, WCB and gig work.
• Licensed in all three provinces it serves, with the licence numbers published on its own site.
• An A- rating from the Better Business Bureau, which is unusually strong for this category.
• Long established. Operating since 2002, which is 24 years.

Mr. Payday Cons

• 365% APR. This is the most expensive way to borrow legally in Canada, by a wide margin.
• Not BBB accredited, and one complaint in the last three years went unanswered.
• Not CLA certified.
• Online only. There is no branch to walk into, and approvals only happen during business hours, which are shorter than they look on a site that advertises 24/7.
• Only three provinces. British Columbia, Alberta and Ontario.
• Short term by design. The full balance plus the fee comes out on your next payday, which is what causes repeat borrowing.
• A $1,200 monthly minimum income, which rules out some of the people who most need a small loan.

When Mr. Payday Makes Sense

Tick all five and a payday loan is a defensible choice. If any are missing, it is worth pausing before you apply.

How We Reviewed Mr. Payday

This review draws on the information Mr.Payday publishes about itself, together with publicly available sources. Every lender in our directory goes through the same eleven point verification check, and you can read about how that works on our review methodology page.

Mr. Payday FAQs