How long before I know if I'm approved?
A: We work quickly on all our applications to have them approved and have the cash deposited in your bank or credit union account in a timely manner. You will receive an email and or a sms once a decision has been made.
If I am approved, how do I get my cash?
A: We deposit the cash directly into your personal bank or credit union account.
How do I pay the loan back?
A: If you are paid weekly, bi-weekly or semi monthly: We debit your bank account on your next 2 scheduled pay dates with the instalment amount disclosed on you loan agreement. Your Fee is included the final instalment amount.
If you are paid monthly: We will withdraw the full loan amount including our fee on your next pay date.
What are my payment options to pay you back?
A: Other than early repayment, we do not offer any other payment options.
Q: I have a small pay cheque this time; can I skip my payment till my next pay?
A: Payments cannot be skipped.
Q: When I pay off a loan, how soon can I receive another loan?
A: It takes approximately 4 (four) business days for your payment to clear the bank. Once the payment clears, we can issue you another loan. If you would like to receive funds before the 4 (four) business days you will need to provide us with a printout of your online banking account so we can confirm our payment has cleared in order to process a new loan for you. Keep in mind that a payday loan is intended to be a small short-term loan and is not intended as a solution for longer term financial needs. We recommend you see a credit counsellor if you are having financial problems.
Q: Can I change from a loan payout to a loan renewal/pay down plan?
A: Your loan needs to be paid in full on the payment due dates specified in our loan agreement. We do not offer loan renewals or pay down options.
Q: Why do I receive emails or SMS’s from your Paidcash?
A: We will send you an email and or SMS to inform you; if you are approved or declined for a loan, payment reminders, payment confirmations, collection notice (if necessary), responses to your inquires, and promotions. If you are not receiving any of these emails please check your spam/junk email folder. We may also not have your email address on file. Please contact the Paidcash office to confirm the information regarding your email address on file is correct.
Q: I don't want my employer to know I'm applying for a loan. Do you have to verify my job?
A: We provide you with several options in order to verify your employment. However, we may need to call and speak with your Human Resources department. Our staff is very discreet when verifying your employment and will not disclose where we are calling from.
Q: Can I borrow more than once in a pay period?
A: You may only have one loan at a time.
Q: How much can an existing client borrow?
A: From $50 up to $1500. (Subject to approval).
Q: Can you approve me today, even if I don't want the money right now?
A: You can be approved today but not want any cash until next week. Your approval is good for 30 days. When you do decide to get the loan, we will confirm that your information is still accurate and then process your request.
Q: If I don't qualify for the amount requested, can I get a different amount?
A: Our client's loan limits are calculated on a credit trust system, depending on that system we evaluate how much you qualify for and we will issue a loan up to that determined amount.
Q: When should I use a Short Term (payday) loan?
A: Due to the higher fees involved, a payday loan is intended to be a small short-term loan that is not intended as a solution for longer term financial needs. You should only borrow as much money as you can afford to fully repay when the payment is due. If you need to borrow money and feel it will take longer to repay, you should explore other lending options such as: asking a friend, asking an employer, asking a family member, obtaining a bank overdraft, a line of credit, cash advance on a credit card, or consolidating your debt at your bank or financial institution. We recommend you see a credit counsellor if you are having financial problems. Non-profit Credit Counselling services can be found in your local phone book.
Q: What if I can't repay my loan on the due date?
A: You must contact us immediately to set up payment arrangements. If your payment comes back for any reason from the bank and you have not contacted us - we may initiate collection procedures immediately.
Q: I am receiving Disability Assistance or a Pension. Do I qualify for a Short Term (payday) loan?
A: Our lending requirements are based on active employment income only.
Q: I do not receive emails from your company, why?
A: To make sure you receive all of our emails; please add our customer service email address, found on our "About Us / Contact Us" page, to your contact list in your address book.
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