FAQ

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What are the minimum requirements to be eligible for a loan?

Our minimum requirements are that you:

  • Are at least 19 years old.
  • Are a Canadian citizen and a resident of British Columbia, Alberta, Saskatchewan, Ontario, Nova Scotia or Manitoba.
  • Have been receiving the same source of income for the past 3 months.
  • Have a net income of at least $800/month.
  • Have a Canadian bank account that has been open for at least 3 months and has access to online banking.
  • Have a valid mobile phone number, address, and email address.

Do you accept income assistance, insurance benefits or government benefits (Child Tax, pension, ODSP, AISH…)?

Yes we do! As long as you meet the minimum requirements, you can apply for a loan with us. Simply fill out the Employment Details section of the application with the details of your benefit income.

How long does it take to complete the application?

Not long at all! The quick and easy loan application takes about 5-10 minutes to fill out.

Can I do the application over the phone?

Unfortunately, no. We can assist you over the phone but for security purposes, you will have to complete the application yourself online.

What documents do I need to provide?

Absolutely none! Our application is fully automated and does not require any documents.

What is the maximum amount I can borrow?

The maximum amount you can request is $1,500.

What are the interest rates?

The cost of borrowing differs depending on your province. Here is the breakdown:

Province Interest rates
Alberta $15 per $100 borrowed
British-Columbia $17 per $100 borrowed
Manitoba $17 per $100 borrowed
New Brunswick $15 per $100 borrowed
Nova-Scotia $22 per $100 borrowed
Ontario $15 per $100 borrowed
Saskatchewan $23 per $100 borrowed

Is there an application fee?

Absolutely not! The application is free and does not commit you in any way.

Do you do a credit check?

Yes we do, but our decision is not solely based on your credit. We analyze a variety of different data to provide you with a fair decision. A one-time verification does not affect your credit score. In addition, returning customers who reapply after a short period of time are exempt from this verification.

Do you accept people with bad credit?

We accept customers with all types of credit scores. We base our decision on multiple criteria including your credit but not solely based on it. This means that you can be accepted even if your credit score is low. Make sure you meet the minimum requirements to apply for a loan with us.

I was pre-approved; how long will it take to receive a response?

If you have been pre-approved, this means that your loan application has passed the first validation but some of the information provided still needs to be manually reviewed by our Credit Team. Our team is constantly reviewing loan applications 7 days a week (9am-9pm EST). Normally, you will receive an email response within 1-2 hours during the week and on weekends, but it could go up to 4 hours depending on volume. (Business hours)

For how much can I be approved?

Our algorithms will analyze the information provided in your application and provide you a with loan amount. Please keep in mind that our Customer Agents cannot promise you any specific amount as it is an automated system that makes the decision. We pride ourselves on being responsible lenders so we will not lend you more than your repayment capacity allows.

Why did I get approved for a lower amount than I requested?

At iCASH we pride ourselves on being responsible lenders so we will not lend you more than your repayment capacity allows. Your repayment capacity is analyzed by our algorithms and takes into consideration your salary, spending habits, other loan payment, as well as other factors. Your loan amount may increase in the future by repaying your loans on time.

Can I get a higher amount on my next loan?

It is not guaranteed that you will get a higher loan amount on your next loan. Your loan amount is calculated by our algorithms which take into consideration your salary, spending habits, other loans payments, just to name a few. Obviously, repaying your loan on time can help to increase your future loan amount. *Please note that our Customer Agents cannot modify on your loan amount.

When will I receive my funds?

If you choose to receive your funds by e-transfer, you will receive them in the next 30 minutes after signing your Loan Agreement. (We may ask you to send us a void check before sending you an e-transfer)
If you choose to receive your funds by direct deposit, your funds will be sent at 2 pm the same day or the next business day depending on what time you sign your Loan Agreement. Once sent, the reception of your funds in your bank account may vary between half a day to one business day.

Can I receive my funds by e-transfer?

Absolutely! at iCASH.ca, everyone gets their funds by e-transfer in 30 only minutes! *We may ask you to send us a void check before sending you an e-transfer.

How do I repay my loan?

We take care of everything! Your loan payment will be debited directly from your bank account on your pay date, as agreed upon in your loan agreement.

Can I repay by e-transfer?

Repaying by e-transfer is reserved for our elite customers. This privilege can be granted only as of your second loan with us. If you wish to repay by e-transfer, contact us at support@icash.ca and our Customer Agents will provide you with the instructions. Be sure to send your request at least 4 business days before your payment due date.

What is my remaining balance right now?

If you wish to know what your remaining balance is, please contact our Customer Experience Agents at support@icash.ca or the phone number provided in your Member Area. To get the number, Log in here.

Can I take out a new loan to repay my current loan? / I have an existing loan with you. Can I top up/get additional funds until my next payment?

We can only offer one loan at a time. We are a licensed lender and we are regulated by laws that do not allow us to give you a second loan if the first one has not been fully repaid. Once your current loan has been repaid in full, you will be able to apply for a new loan.

Can I repay early and apply for a new loan?

You are entitled to repay your loan at any time without any penalty fee. You will be able to reapply for a new loan as soon as your e-transfer has been received and processed by our accounting team. ***Before sending an e-transfer, it is very important to first make sure that your payment has not already been initiated to be debited from your bank account.***

I paid off my loan why can I not reapply?

This can happen if we still have not received the response from the bank confirming that the final payment went through successfully (it takes 3-4 business days). If you wish to reapply right away, contact us at support@icash.ca and we will be happy to provide the instructions on how to reapply right away.

Why did my loan request get denied?

Our system analyzes various data including your income, bill payments, credit history, repayments with other loan companies, just to name a few. Our system could have declined your loan application based on an issue with one of these or a combination of them. In good faith and with integrity, we will only provide loans that are within our clients’ repayment capacity.

I’m having a technical issue with the application.

If you are experiencing any technical issues with the application, please contact and provide the exact error/issue you are receiving to our Customer Experience Agents at support@icash.ca or the phone number provided in your Member Area. To get the number, Log in here.

I cannot make my payment, what are my options?

If you believe that you will not be able to fulfill your engagements with us, be sure to contact us at least 3 business days before your payment due date and our Customer Agents will work with you on a new repayment schedule. If you contact us later than 3 business days before the due date, the pre-authorized debit will already be initiated and we are no longer able to hold or stop it.

Can I change my repayment date(s)?

If you wish to change your repayment dates, be sure to contact us at least 3 business days before your payment due date. If you contact us later than 3 business days before the due date, the pre-authorized debit will already be initiated and we are not able to hold or stop it. Please note that interest fees will be charged to your account to reschedule a payment for a later date.

Why have I been charged an NSF fee?

If a payment is returned to us for non-sufficient funds in your bank account, we will charge you an NSF fee. Your bank may also charge you an NSF fee. Here are the NSF fees according to your province:

Province NSF
British-Columbia $20
Alberta $25
Saskatchewan $50
Manitoba $20
Ontario $48
Nova-Scotia $40

Can I repay by credit card?

Contact us at support@icash.ca to learn more about your repayment options.

It’s saying that my SIN is invalid but it is my correct SIN.

The SIN error occurs for 1 of 2 reasons. Either the SIN you are entering is not a valid Canadian SIN, or you have already used your SIN under a different iCASH account.

It’s saying that my phone number has already been used but this is my first application.

If you don't have a separate home phone number, you can just leave the home phone number field on Step 1 of the application blank. You already registered your mobile number when you created your iCASH account and the system does not allow using the same number twice.

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