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Cash Advances

What is a cash advance? A cash advance is a short term loan that provides a lump sum, which you can then pay back in one or multiple installments*.

In some ways, it's like getting an advance on your salary, except the money doesn't come from your employer, and you can refund it in a set number of payments.

You can get a cash advance in Canada either from a bank or a private lender. Then there's still the possibility to get a cash advance on your credit card.

Many people choose cash advances because of the fast and simple approval process. Apart from that, the money is available right away, so it's a handy option when you need funds urgently.

The two most common types of advances are cash advance loans and cash advances from credit cards. Both have their share of loyal customers due to the straightforward approval process and the fact that the funds are accessible immediately.

A credit card cash advance allows you to borrow money against your credit card limit. All you have to do is withdraw the money from your credit card, usually from an ATM and then make monthly payments to pay it back with interest.

Getting a cash advance on your credit card requires no effort, let alone a complicated approval process. Most Canadians use these fast funds for emergencies. However, these cash advances come with higher fees and interest rates.

Cash advance loans allow you to borrow up to $1,500, which must then be repaid over a short period with interest. They are the go-to solution when faced with urgent costs that strike at a moment's notice and are not in the monthly budget.

To cover such urgent expenses, you can get a cash advance loan and pay it back when your next paycheck arrives. With iCash, you also have the option to pay back your loan in three installments in most provinces, allowing you to stretch the repayments over your next three pay periods.*

Even a positive surprise can put you in a tough spot if you don't have any money set aside for unanticipated situations. These are the most frequent reasons people get a cash advance in Canada:

• Home repairs
• Rent
• Replacing broken appliances
• Car repairs
• Medical emergency
• An unexpected bill from the vet
• Unpaid bills

Credit Card Cash Advance Fees

Just like any other type of loan, an advance from your credit card company comes with fees. Lending money is a business, and the lender is assuming a risk every time they approve a loan, so it is natural to have specific fees to make the risk worth it.

These are the most common cash advance fees:

• The cash advance fee applies when you withdraw money from your credit card, and it is usually a flat fee of a value of $5 to $10. But, depending on the credit card issuer, it can also be a percentage of the sum you withdraw, and it can go up to 5%.

When you borrow money from a private lender, usually there are no cash advance fees.

• The interest rate is the lender's means of making a profit. It is the most significant expense to consider, and it is something you need to pay regardless of the type of loan you take.

With a credit card cash advance, you will have to pay a calculated rate based on the total sum you are borrowing. The interest rate is then added to the principal you pay every period and stops when you have completely paid the amount you borrowed, together with interest.

The interest rate on credit card cash advance is usually around 2% to 5% of the borrowed amount. You need to know that the interest fee will become effective instantly, so don't expect to get a grace period.

• ATM fees may not be high, but they are another cost to consider. If you choose to withdraw the money from an ATM, you will have to pay your bank's fee.

It's a good idea to estimate your cash advance rate before getting a cash advance to make sure you include all these additional costs. You can use a cash advance rate calculator to get to the correct total.

It's also essential to choose a lender or credit card issuer that is completely transparent regarding the fees they apply.

Cash Advance Loans

Cash advance loans allow you to borrow a fixed amount of money for a short time to cover emergency expenses.

When you have no way of covering that expense or postponing the payment, these quick loans are a comfortable solution. Getting a cash advance loan is like obtaining an advance on your wages, except you can pay it back in several reasonable installments.*

The funds from a cash advance loan are unrestricted, meaning you can use the money to solve any sort of emergency. All the lender is interested in is respecting the loan terms and reimbursing it without delays or other issues.

Depending on the situation, you can pay the money back either in one lump sum or multiple repayments*.

Cash advance loans can provide you with quick funding from $100-$1,500, which is enough for most unexpected expenses. It may not seem like a huge amount, but it makes all the difference when you don't have it.

On the other hand, asking your family or friends to lend it to you may also not be possible, as it would be too much for their budget to cover. Whether your washing machine or car has finally met its end, these emergency loans have you covered.

Get A Cash Advance Online

iCASH instant loans allow you to borrow money from the comfort of your home without the need to visit a store. Every step of the process will be handled online and entirely hassle-free.

iCASH is one of the top providers of online loans in Canada and the perfect example of how easy it can be to access funds quickly and stress-free.

When you face an emergency that you aren't financially prepared for, finding the time to visit an in-store lender can be stressful. With iCASH, you can apply for a loan online quickly in a few minutes or with our mobile app.

When you apply for a loan with us, you’ll find out if your application has been approved almost instantly—no waiting is needed.

Since our requirements are easy to meet, the chances of being approved are incredibly high.

Our services are available 24/7. You can apply at any hour of day and night! So even if you have an unconventional schedule, it won't prevent you from getting a loan whenever you need one.

If you apply at night and are approved, the funds will also be available almost immediately by e-Transfer.

With iCASH, you escape the dreaded paperwork that traditional lenders usually demand. All you have to do is spend a few minutes filling out our application, and the response will come right away.

We have invested in our digital system's security, so every part of the process is entirely safe. Your information is safely stored, and no third party will have access to it.

If you still have questions or need to have something clarified, our customer service is always available to help you with whatever you need.

Getting A Cash Advance With Bad Credit

Cash advance loans are designed to help people access quick money even if they have poor credit or no credit history.

Bad credit history is always an issue when you go to the bank for any loan. Even if you have a low credit score, you can still easily qualify for a quick loan from a private lender like us.

While banks focus on credit history to decide if you are trustworthy, private lenders are more interested in your current ability to pay back the loan.

Bad credit can happen easier and faster than you may have imagined, and it happens to many people. It only takes a questionable financial decision or a few bad months to get you off track and into debt.

But what we care about is your financial strength when you apply. If you have been receiving a steady income for the previous three months, you have all the chances to qualify.

A loan for poor credit may be the only option when you have bad credit or if you have no credit history at all.

Even if you already went to another lender and got declined, you can still apply with us. As long as you meet our minimum requirements, you can get approved.

While banks usually need you to provide a warranty to qualify for a loan, a cash advance from a private lender requires no collateral.

That means that if you have no valuable assets or don't want to place them at risk, you will have no problem getting approved because a cash advance loan is unsecured.

We provide cash advance loans in these provinces of Canada.

in Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Nova Scotia, Prince Edward Island.

Cash Advance and Flexpay loans

We know that everyone's financial situation is different.
Get the loan amount and repayment plan* that suits your needs, guaranteed.

Cash Advance One Payment
Flexpay Two or Three Payment*
Same Interest Fee

With a Cash Advance loan from iCASH, you can pay back your loan on your next pay period in one single payment.
Or you can choose our Flexpay* plan, and pay back your loan in 2 or 3 equal payments* on your next upcoming pay dates. Our Flexpay option, exclusively offered by iCASH, allows you to have more time to repay your loan while paying no additional interest.

Yes, you heard right!
Whichever repayment plan* you choose, the interest fee will not change!


You can apply for a loan within the comfort of your home. Simply choose how much you would like to borrow and fill out a quick and easy online loan form. Once our fully automated system establishes that you qualify for an instant cash loan, you will be asked to sign your loan agreement electronically, and your money will be on its way!


Your funds will be sent within 2 minutes by e-transfer, so you can rest assured that the reception of your funds won't take long!


You can choose the convenient repayment plan* that suits you best: the cash advance plan gives you the option to repay your loan in 7 to 62 days depending on your pay cycle, while the Flexpay plan* gives you the option to repay your loan in 2 or 3 easy payments in a lapse of 7 to 62 days depending on your pay cycle. With both of these repayment plans, you will be paying the same amount in interest. For your convenience, we will automatically debit the amount due from your bank account on the agreed-upon dates. It's that easy with iCASH!

*Due to government regulations, loans in Ontario and Nova Scotia can only be approved for 1 repayment

More Advantage

When you apply for your first loan with iCASH, you will be eligible to receive up to $750.
Each time you pay back your loan on time, you become more trustworthy to us and your score increases in our Trust Rating System. With this, you will gradually be eligible to borrow up to $1,500.

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How to Get a Cash Advance Online?

Apply for a Cash Advance Online

Apply Online

Fill out the online application form. Choose your desired loan amount, repayment plan option*, and provide the requested information. It takes most people about 10 minutes or less.

Get Instant Decision

Instant Decision

Our fully automated online application will provide you with an instant decision on your cash advance loan. Once approved, all you must do is electronically sign your loan agreement.

Get Your Money

Get Fund

Once your loan agreement is signed, your funds will be sent via e-Transfer in the next 2 minutes, fast and convenient Canadian loans.

Maximum repayment period 62 days. APR is 109.50%. On a $500 loan of 14 days, the total cost of borrowing is $75, with a total payback amount of $575 and an APR of 391.07%. Interest fees: Alberta $15 per 100, British Columbia $15 per 100, Manitoba $17 per 100, New Brunswick $15 per 100, Nova Scotia $17 per 100, Ontario $15 per 100, PEI $15 per 100. 372 Bertha Street, Hawkesbury, Ontario, K6A 2A8. iCASH only offers online services. Please note that we cannot accept customers or conduct any transactions from this location.

Cash Advance FAQs

1. What is a cash advance loan?

A cash advance loan is a short term loan that provides you with a sum of up to $1,500 that you can use for whatever financial difficulty you cannot fit into your monthly budget.

People usually need it for unexpected expenses that cannot wait until their next paycheck. These small personal loans are like having part of your salary in advance. However, the money doesn't come from your paycheck.

2. How do cash advances work?

A cash advance can either be a loan from a private lender or an advance taken on your credit card. When taking out a cash advance on your credit card, you borrow money against your card's line of credit.

There are three ways you can get a cash advance:

   • ATM: Go to an ATM and enter a credit card and your PIN. You will be able to withdraw the money.
   • At a bank branch: You can go to your bank and request a cash advance on your credit card.
   • With a direct lender: You can visit a cash advance loan store or apply online with a direct lender.

3. Is a cash advance bad for your credit?

A cash advance is not bad for your credit if you repay it as agreed. However, credit card cash advances won't be listed as a separate item on your credit report. So it can indirectly affect your credit score if your credit utilization ratio goes over 30% because of it.

Payday cash advances from direct lenders won't affect your credit either if you repay them on time. That's why if you need a cash loan, it's best to get it from a private lender instead of your card issuer.
Borrow and Save!
Get up to 20% in Cashback!*

iCASH offers a unique Cashback program to reward its customers in Canada. You can get back up to 20% of the cost of borrowing paid once your cash advance online loan is repaid and receive your Cashback direct into your bank account the same day. Real saving and real money!*

How to be Eligible for a Loan

To qualify for a fast online loan from iCASH, you must:

  • Be at least 19 years old.
  • Be a Canadian citizen and a resident of Alberta, British Columbia, New Brunswick, Ontario, Manitoba, Nova Scotia, or Prince Edward Island.
  • Be employed with the same employer for the past 3 months.
  • Have a Net income of at least $800/month.
  • Receive your pay by direct deposit.
  • Have a Canadian bank account that is open for at least 3 months.
  • Have a valid mobile phone, email address and home address.

Interest Fees and Transparency

The cost of borrowing is calculated as a percentage of the amount borrowed and range between $15 to $25 according to the payday loan legislation of each province:

Province Interest Fees & Transparency Late fee
Alberta $15 per $100 $25
British-Columbia $15 per $100 $20
Manitoba $17 per $100 $20
New Brunswick $15 per $100 $20
Nova-Scotia $17 per $100 $40
Ontario $15 per $100 $25
Saskatchewan $17 per $100 $50
Prince Edward Island $15 per $100 $48

When you take a cash advance loan or Flexpay loan* with iCASH, you are always in complete control of how much money you will owe and there are no surprises nor hidden fees. Before signing your loan agreement, we will give you a breakdown of all the costs involved in your loan so you will be able to make an informed decision.

Getting Your Money

There is nothing easier than getting your money. After electronically signing your contract, you will receive your funds by e-transfer in the next 5 minutes. We send e-transfers 7 days a week, 24 hours a day. At iCASH, we want to ease our clients’ lives since we know that you have more important things to care about. Therefore our services are fast, convenient and hassle-free.

Managing Your Loan

Can I make repayments early?

Yes, it is possible to repay early, and we encourage you to do it if you are able to! There are also no charges for early repayments. Repaying early is a great choice because:

  • There are no extra fees
  • You can improve your trust rating with iCASH

Can I increase my loan amount after I get my cash?

As responsible lenders, we only let our customers take out one loan at a time. That's why it's important when you apply for a loan to consider your finances and to choose the loan amount and repayment options that are right for you.

Repaying Your Loan

What happens on my repayment date ?

In order to make the repayment process as straightforward as possible for you, we will automatically debit your bank account on the due date for the amounts specified in the contract. On your repayment date, please make sure you have enough money available in your bank account for the payment in order to avoid any additional fees.

Repayment Plans

We have two repayment plans you can choose from in order to find one that suits you best.

  • Cash advance: make a repayment between 7-62 days after you are approved
  • Flexpay: make 2 or 3 repayments between 7-62 days after you are approved

Repeat Borrowing

Trust Rating System

When you apply for your first cash advance loan or Flexpay loan* with iCASH, you can apply for up to $750. If you pay back your first loan on time and according to the terms and conditions of your loan, you will gradually be eligible to borrow up to $1,500.

A cash advance loan or Flexpay loan* is considered as a short-term loan and is not intended for frequent use. If another situation arises and you do need to borrow money from us again, the loan application process will be quicker than the first time. Since most of your information are saved in your iCASH account, you can simply log in, confirm the existing information, and apply. It's that simple!

As part of our commitment to responsible lending, we may at time make adjustments to ensure that each personal loan we give is in the best interest of our customer's financial health. We consider each application we receive on an individual basis, so repeat borrowers are not guaranteed approval because they have borrowed from us before.

Late Fees

You can avoid any non-sufficient fund fees by making payments on time and ensuring that money is available for pre-authorized debits in your account on the due dates. NSF fees are broken down as follows, depending on each of the following Canadian provinces: British Columbia, Alberta, New Brunswick, Saskatchewan, Ontario, Nova Scotia, Manitoba and Prince Edward Island.

Province NSF
Alberta $25
British-Columbia $20
Manitoba $5
New Brunswick $20
Nova-Scotia $40
Ontario $25
Saskatchewan $25
Prince Edward Island $48


iCASH's lending process is fully transparent so you can clearly understand your repayment responsibilities. Depending on your pay period this daily fee may change. Your total amount to be repaid is the loan amount plus the interest fee, no additional fees will be charged to you.

The only way that your repayment amount would increase is if you do not comply with your loan repayment agreement. You must make sure that your bank account has enough funds to cover the preauthorized debit on the date you agreed to make a loan payment. If your bank account has insufficient funds at the time of the preauthorized debit, you will be charged a missed payment fee, and your bank may also charge you a non-sufficient funds fee. From there on, collection interests will be applied to the remaining balance of your loan until it is fully repaid.

From that point on, your file will be passed on to our professional collections team who will do their best to come to an agreement with you. Unfortunately, if you do not work with us to repay your loan in the agreed-upon time frame, iCASH will have no other choice but to pass on your file to an external collection agency.

The transfer of your file to an external collection agency may also generate additional fees for you, it can lead your credit file to a negative note and could damage your file for six years. Your credit file information can be passed on to other organizations by credit agencies and fraud protection agencies for verification purposes or to track your whereabouts in order to recover the sums owed.

This is why we reiterate that it is extremely important to respect your commitments with us. iCASH is a company with a human side and we understand that difficult situations may happen. If this is the case, please contact us as soon as you can so we can find an arrangement that can reduce costs for you and that will allow you to meet your commitments. However, iCASH strongly recommends that you think seriously before applying for a loan. If you have any doubts about your capacity to reimburse this loan according to the established terms, we recommend you to find another source of financing.