Cash advance apps in Canada: Get an instant loan (2024)

Do you need a small amount of cash as soon as possible? You have options in cash advance apps. Most of the providers available in Canada offer instant approval and e-Transfer funding, whether you need a loan of $25, $50, $100 or more.

To help you find the best option, we cover the different loan apps available in Canada and what you need to qualify in this guide.

Jump to:

• Cash advance apps
• Payday loan apps

Compare cash advance apps in Canada

Pay advance app	Loan amount	Cost	Instant loan?
Early Pay	Up to $350	0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance)	Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and up to 3 business days for standard delivery.	Go to siteLearn more
Credit Line	$30 – $150	0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding	1-30 minutes with a paid membership or 1-3 business days with a free membership.	Go to siteLearn more
Cash Advance	$20 – $250	Pay a subscription fee starting at $2/month	Yes, with a KOHO account. Other requirements apply.	Go to siteLearn more

Compare payday loan apps in Canada

Payday loan app	Loan amount	Cost	Instant loan?
Payday Loan	$100 – $1,500	Varies by province (refer to the table below for rates by province)	Yes, it offers instant payday loans 24/7	Go to site Learn more
Payday Loan	$100 – $1,500	Varies by province, but cheaper than industry standards	Yes, it offers instant payday loans 24/7	Go to site Learn more
Payday Loan	$100 – $1,500	Varies by province (refer to the table below for rates by province)	Yes, it offers instant payday loans	Learn more
Payday Loan	$100 – $1,500	Varies by province (refer to the table below for rates by province)	Yes, get funding within 30 minutes	Learn more
Payday Loan	$120 – $1,500	Varies by province (refer to the table below for rates by province)	As little as 1 hour after getting approved	Learn more
Payday Loan	$300 – $1,500	Varies by province (refer to the table below for rates by province)	Within 1-2 hours via e-Transfer once approved	Learn more
Payday Loan	$100 – $1,500	Varies by province (refer to the table below for rates by province)	Approval within 30 mins. during business hours, e-Transfer within 30 mins. after approval	Learn more

What’s the difference between a cash advance app and payday loan app?

“Cash advance app” can be a confusing term because there are some payday lenders in Canada that call their payday loans “cash advances” and they have apps, and there are lenders who are not payday lenders but also call their small loans “cash advances” – and they too have apps.

Payday lenders are regulated by the provincial governments and have specific loan regulations they must follow.

Payday lenders with apps are Cash Money, Credit Club, Money Mart, PAY2DAY and Focus Cash Loans. Lenders who are not payday lenders but also have apps for small cash advances are Nyble, Bree and KOHO.

Learn more about cash advance apps

Bree early pay

• How it works. Bree is a pay advance app like Nyble. Fill out an application and link your banking details through the in-app dashboard. If you’re eligible, you can get a loan up to $350 deposited to your account. You repay the loan on a specific, agreed-upon date. There’s a small $2.99 monthly membership fee plus an extra fee if you want fast access to funds. Because Bree is a specialized pay advance app in Canada offering smaller loans, you can select from a variety of smaller loan amounts, such as $25, $50 or $100 loans.
• Speed. Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and up to 3 business days for standard delivery.
• How to qualify. You will need to be the age of majority in your province, have a bank account and be willing to link it to the app. You’ll also have to provide proof of direct deposit into your account for at least two months and have enough money left over from your paycheque to repay your Bree loan.
• Free cash advance available? No ($2.99 monthly membership fee)
• Serviced provinces. Bree provides cash advances in Canada to all provinces and territories.
• Is Bree legit? Bree is a Y Combinator startup that was launched in 2021. Two former employees in investment banking founded it. Bree has LinkedIn and Crunchbase profiles, and its privacy policy states that it doesn’t sell your information to third parties.

Go to site

Nyble credit line

• How it works. Create a free Nyble account to borrow $30 and $150 interest-free.
• Speed. 1-30 minutes with a paid membership or 1-3 business days with a free membership.
• How to qualify. You must be 18 years or older, have an active bank account with minimal NSF transactions and satisfy income requirements.
• Free cash advance available? Yes
• Serviced provinces. All provinces and territories.
• Is Nyble legit? Yes. Nyble is run by Fincentify Inc., which is a registered business in Canada.

Go to site

KOHO Cover cash advance

• How it works. Get a zero-interest cash advance ranging from $20 to $250 when you pay a subscription fee starting at $2/month. You'll need a KOHO account to access this service.
• Speed. Immediately
• How to qualify. KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
• Free cash advance available? No
• Serviced provinces. All provinces and territories.
• Is KOHO legit? KOHO is an established and well-known online bank that’s partnered with Peoples Trust, a CDIC-insured bank. In January 2024, it moved to phase two of obtaining a Schedule 1 banking licence. Schedule 1 banks include RBC, Tangerine, TD and CIBC.

Go to site

Learn more about payday loan apps

iCash

• How it works. The iCash payday loan app lets you quickly and easily access up to $1,500. Simply download the app, complete an online application, input your banking information and get a loan starting at $100 nearly instantly through the iCash app.
• Speed. It’s an automated process, so it’s possible to receive an e-Transfer in as little as 2 minutes.
• How to qualify. You will need a minimum net income of $800 per month and be employed with the same job for at least three months. You’ll also need to have a Canadian bank account that’s been open for at least three months and provide one reference (family member, friend or work colleague).
• Free cash advance available? No
• Serviced provinces. iCash offers cash advance loans in Canada to BC, Alberta, Manitoba, Ontario, Nova Scotia, New Brunswick and Prince Edward Island.
  
• Is iCash legit? iCash is a direct and licensed payday lender that has been in operation since 2016. It has a highly-rated mobile app. You can find licence information for each province listed on its website.

Go to site

Wagepay

• How it works. You can get early access to a portion of your pay with Wagepay, with cheaper costs than a traditional payday loan. Simply download the app or head to their website, complete an online application, input your banking information and get a loan starting at $100 nearly instantly via e-Transfer.
• Speed. It’s possible to receive an e-Transfer in as little as 2 minutes.
• How to qualify. You will need a minimum monthly income of $1,600 and you must be employed and receive a regular, consistent income from your employer. You also must leave enough of your income each pay cycle in your account to be able to repay your borrowed amount. You’ll also need to have a Canadian bank account with a generally good banking history.
• Free cash advance available? No
• Serviced provinces. Wagepay offers cash advance loans in Canada to BC and Ontario residents.
• Is Wagepay legit? Wagepay is a direct and licensed payday lender that has been in operation since 2023 in Canada (and 2020 in Australia). You can find licence information for each province listed on its website.

Go to site

Cash Money

• How it works. You can download the Cash Money payday loan app from the Apple Store or Google Play. To get an instant money loan as low as $100, you’ll first need to go to the Cash Money website on your phone, tablet or computer to complete an online application and get your funds through e-Transfer, direct deposit or cash pick-up. You can then head to the Cash Money app to manage your loan account and make payments.
• Speed. It’s an automated process, so you’ll receive funds in as little as 15 minutes.
• How to qualify. You’ll need a minimum credit score of 525, a chequing account in your name and proof of recurring income. You’ll also need to provide employer information and contact details, including a working phone number and a valid address.
• Free cash advance available? No
• Serviced provinces. Cash Money services BC, MB, NL, NS, ON, SK.
• Is Cash Money legit? Cash Money is a member of the Canadian Consumer Finance Association. It has been in business since 1992 and, in that time, helped nearly 1.2 million Canadians with their short-term cash needs. However, its payday loan app has poor ratings on the Apple Store.

Credit Club

• How it works. Credit Club is a payday lender in Canada offering new customers up to $500, although Credit Club members can qualify for up to $1,500 through its payday loan app. Expect to pay very high fees per $100 borrowed, depending on where you live. That said, Credit Club offers a fast turnaround time — typically within 30 minutes of getting approved with funds provided through e-Transfer. Another nice perk of Credit Club is that it does not run credit checks as part of its approval process.
• Speed. You can apply online 24/7 and receive funds in as little as 30 minutes.
• How to qualify. You’ll have to have an active bank account and be at least 18 years of age to qualify for a Credit Club cash advance loan. You’ll also have to be currently employed for a minimum of three months with the same employer.
• Free cash advance available? No
• Serviced provinces. Credit Club offers cash advances in Canada to ON, BC and NS.
• Is Credit Club legit? Yes, Credit Club was established in 2012 and has an A+ rating with the Better Business Bureau (BBB) along with a 4.5+ out of 5-star rating on Trustpilot (based on 2,878 reviews).

Money Mart

• How it works. You can apply for up to $1,500 through the Money Mart Mobile payday loan app. Apply, make repayments and monitor your loan account all through the app. You can also apply for a payday loan online or at the more than 500 Money Mart store locations across Canada. Money Mart is a well-established company with a track record going back to 1982.
• Speed. You can apply for a Money Mart payday loan online, through its app or in-store, and have the funds transferred via e-Transfer within 60 minutes of getting approved.
• How to qualify. You must be at least 18 years old with a valid ID and a chequing account to qualify for a Money Mart cash advance loan. You must also have a steady source of income, which can include child tax credit, EI, disability and pensions.
• Free cash advance available? No
• Serviced provinces. Money Mart provides cash advances in Canada to AB, BC, MB, NS, NT, ON, SK, YT.
• Is Money Mart legit? Yes, Money Mart is a licensed lender that is a member of the Canadian Consumer Finance Association. Its website is verified by Entrust, which is a global leader in identity, payment and data protection.

PAY2DAY

• How it works. PAY2DAY offers a payday loan app where you can apply for up to $1,500 through its payday loan app. You can also apply in-store at over 30 locations in Canada. PAY2DAY applications, approval, funding and customer service are available 24/7.
• Speed. You can receive a PAY2DAY cash advance loan in as little as 60 minutes via e-Transfer once approved.
• How to qualify. You must be at least 18 years old with an active bank account and access to online banking to qualify for this cash advance loan. You’ll also need to have recurring income, which can include alternative forms of income (e.g. EI, retirement income).
• Free cash advance available? Only on your first in-store cash advance
• Serviced provinces. PAY2DAY offers cash advances in Canada to ON, BC, NS.
• Is PAY2DAY legit? Yes, PAY2DAY is a provincially licensed lender with over 30 store locations in Ontario and BC.

Focus Cash Loans

• How it works. Download the app and apply online 24/7 to borrow $100 – $1,500. Repay by your next payday.
• Speed. Approval within 30 mins. during business hours, e-Transfer within 30 mins. after approval.
• How to qualify. Must be an Alberta, BC or Ontario resident, at least 19 years old, with an active bank account and a net income of $1,200 per month.
• Free cash advance available? No
• Serviced provinces. AB, BC and ON.
• Is Focus Cash Loans legit? Focus Cash Loans is a licensed payday lender in AB, BC and ON.

Summary: Cash advance app ratings on Google Play & Apple App Store

We’ve summarized Apple App Store and Google Play Store ratings for these cash advance apps in Canada, so you can easily see what other Android and iPhone users think of these apps.

Reviews as of May 30, 2024

What are cash advance apps in Canada?

Essentially, cash advance apps offer Canadians small loans online through web, Apple or Android apps. These instant loan apps allow you to easily apply, get funding within minutes and manage repayments on the go. They also have easier eligibility criteria than traditional loans.

What are the best loan apps in Canada?

The best loan app in Canada depends on your needs. If you’re looking for 24/7 instant approval and funding and you need more than $150-$200, iCash is a popular choice. Consider Bree and Nyble for small, interest-free loans. Finally, if you’re looking for repayment flexibility, KOHO and Nyble both allow you to push your repayment deadline to another date with no penalties.

Am I eligible to use loan apps online in Canada?

Eligibility criteria for cash advance loans in Canada vary between providers, but there are a few basic requirements you need to meet:

• Be the age of majority
• Have an active chequing account
• Receive a steady income paid into your account

Some loan apps may also require you to work for a specific employer or make a minimum amount of money each month to qualify.

How to find the best instant money apps

Ask yourself these questions to help narrow down your options to find the best instant money and pay advance app for your needs.

How much do you need to borrow?

Decide how much you need to borrow to cover your expenses before your paycheque comes in. If you need a small amount, like a $50 loan instantly, then apps like KOHO, Bree and Nyble could be the way to go, although it could take a few hours or days to process. If you need a $200 instant loan (or more), you could look into cash advance options like iCash and Cash Money.

How much does the loan cost?

A small pay advance from an app in Canada can cost a lot when you factor in fees. Even a 0% interest loan may come with a monthly fee. Keep in mind that payday loans are very expensive because they cost between $14 to $17 for every $100 borrowed.

How quickly can you get the loan?

If you need an instant money app loan, one option to consider is a payday loan since these fast cash loans typically take less than 24 hours from application to approval and e-Transfer funding. Early pay apps like Bree and Nyble also provide instant loans if you pay a fee. If you can wait a few days, pay advance apps offer an option to get a slower cash advance, sometimes with zero fees.

When can you pay it back?

Make sure you can afford to repay the pay-advance loan before taking on this type of debt. If you can’t afford to pay it back, you may need to take out another loan to pay off your first loan — and this cycle can repeat and potentially trap you in a cycle of expensive debt.

When setting up a loan repayment schedule, payday loan lenders will automatically withdraw money from your bank account. Pay advance apps also operate in this way, although some lenders like Nyble will allow you to extend deadlines.

How do cash advances affect my credit?

When getting cash advances through a pay advance app, your credit score won’t be impacted. That’s because most pay advance apps in Canada don’t do a hard credit check when you request an advance. Payday loans can’t improve your credit score, while a cash advance app that reports payments, such as Nyble, can.

How do I repay my instant cash app loan?

Usually, pay advance apps in Canada automatically deduct your funds from your bank account on the due date – typically the day you get paid. Since this is an automatic repayment, you need to make sure there is enough money in your account. If you don’t have enough money in your account, some instant cash app loan lenders that are not payday lenders will hold off making the repayment withdrawal to prevent you from going into overdraft. However, you won’t be able to borrow again until you repay your current advance.

Pros and cons of pay advance apps in Canada

Pros

• Limited costs. Some pay advance apps charge zero interest, and you may only be on the hook for a monthly membership fee — if that.
• Quick turnaround. You may be able to get your money the same day, depending on the instant cash app loan you opt for, although instant transfers usually come with a cost.
• Budgeting features. Some pay advance apps track your income and spending to warn you if you risk overdrawing your account.
• Options for small loans. Some pay advance apps offer very small cash advance loans, such as a $50 loan, instantly.
• No credit check. Most lenders of pay advance apps offer no credit check loans.

Cons

• Must have recurring income. You must have a stable income that’s paid directly into your bank account.
• Expensive. Payday loans have APRs in triple digits.

Cash advance apps vs payday loan apps: How do they compare?

If you’re considering borrowing money fast, here are the similarities and differences between these loan apps.

What about these other pay advance apps?

Recent data from the Finder: Consumer Sentiment Survey Q3 shows that 23% of respondents got a payday loan in the last three months. While searching for the best cash advance app, many borrowers may come across US-based payday loan apps. Not all of these popular apps are available to Canadians.

• No, EarnIn is not available in Canada. In order to be eligible to use the EarnIn pay advance app, you need to be a US resident. You can explore pay advance apps available to Canadians here or explore our full guide to apps like EarnIn.

• No, Klover is unavailable to most Canadians since a requirement for approval is the borrower is a US citizen. Check out our list of alternative cash advance loans in our list above.

• No, Brigit does not service Canada. Brigit is based in New York and operates throughout the US. If you’re looking for cash advances in Canada, check out our list of apps here, or explore our full guide to apps like Brigit here.

• No, Dave is not available in Canada. In order to apply for a cash advance loan through Dave, you’ll need to have a Social Security number and live in the US. Instead, you can explore our list of payday loan apps available in Canada here or read our full guide to apps like Dave here.

• No, MoneyLion is not available to Canadians. You’ll need to be a US citizen or permanent resident to apply for a MoneyLion loan. Alternatively, you can check out our list of cash advance loans Canadians can apply for here or explore our guide to apps and loans like MoneyLion here.

• Chime is not available in Canada because Chime requires applicants to be US citizens in order to be eligible. Instead, you can explore our list of reputable alternative payday loan apps in Canada here.

Alternatives to cash advance apps

• Credit card cash advance. This type of cash advance in Canada lets you borrow money from your credit card. You’ll usually pay interest rates of 21.99% to 23.99%, and the amount you owe will be added to your regular credit card balance. You can take out a credit card cash advance instantly from an ATM, just as you would withdraw cash with a debit card.
• Installment loans. Borrow larger amounts between $500 and $10,000 and take 3 - 60 months to repay your loan. You’ll pay lower APRs than you would with payday loan apps. Learn more about top installment loans.
• Overdraft protection. You can get overdraft protection with your bank account to ensure you don’t get charged fees if you overdraw your account. Overdraft protection limits can reach as high as $5,000, and you’ll pay interest on any amount you borrow in addition to paying a monthly fee.
• Line of credit. Instead of relying on cash advance apps, consider a line of credit. A line of credit is a revolving credit account where you borrow and repay money (up to a predetermined limit) on an ongoing basis. If you have good credit, you may be able to score a line of credit with a low-interest rate. Only consider a line of credit if you’re confident you can regularly repay what you borrow. Otherwise, you may end up maxing out the line of credit and getting stuck with a larger debt load.

Survey methodology

The results of the Finder: Consumer Sentiment Survey Q3 (CSTQ3) were collected through an online Pollfish survey conducted between August 10 to 21, 2023. In the survey, 1,013 Canadians from across the country were asked about their current debt obligations, among other questions regarding money goals and financial confidence. The estimated margin of error for the survey is +/- 3%, 90% of the time.

Frequently asked questions about instant loan apps

• Some examples of payday loan and pay advance apps that give loans instantly in Canada are iCash, Nyble and KOHO. Learn more about these and other instant loan apps in our full breakdown above.

• An early payroll loan lets you borrow funds through an instant cash app that works with your employer to give you early access to part of your paycheque. These apps let you borrow money interest-free against funds you've already earned through work.

• It depends on how much you need to borrow. Apps like iCash and Cash Money let you borrow up to $1,500 instantly, though you'll pay extremely high fees. With pay advance apps like Nyble and Bree, you can borrow up to several hundred dollars within eight hours of applying, if you pay a small fee for an instant transfer.

• It doesn't seem like you can borrow funds using Cash App in Canada. With a Cash App account, you can receive paycheques up to two days early, but you can't borrow funds against your paycheque.

• No, Nyble and Bree are not payday loan apps. Unlike cash advance apps in Canada like iCash, Money Mart and PAY2DAY that offer loans up to $1,500 at APRs over 300%, apps like Nyble and Bree offer smaller cash advance loans typically up to $350 at 0% interest. Because of that, pay advance apps are a much more affordable option than payday loan apps.

To make sure you get accurate and helpful information, this guide has been edited by Romana King as part of our fact-checking process.

Written by

Leanne Escobal

Publisher

Leanne Escobal is a publisher for Finder. She has spent over 11 years working with financial products and services, specializing in content and marketing. Leanne has completed the Canadian securities course (CSC®) as well as the personal lending and mortgages course by the Canadian Securities Institute. She has a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio

Co-written by

Chelsey Hurst

Publisher

Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio