The Paidcash application process is quick and easy, there’s no paperwork to fill out, no documents to fax or having you sit on the phone waiting for someone to give you an answer. Once you know how much cash you need, go to the Cash Selector and choose how much you need. You’ll see the full cost and, once you're satisfied, click apply. You’ll then be asked for some personal information, like banking and employment so we can begin your approval process. If you’re approved, we can send the cash to your bank account within 60 minutes! Please note we have no control when your bank will credit your account.
On your next 2 paydays we will retrieve a payment from your chequing or savings account. We essentially split your loan in half and give you 2 pay periods to repay your loan. The loan is limited to a maximum of 30 days. You need to ensure the required funds are available in that account at that time. You can initially request any amount from $100 up to $500. Providing your trust rating with us remains the same or improves, you may request an increase to your loan amount to $1500. Once you’ve used our services a few times and established a positive relationship, the approval process will be quicker and so will the time it takes to receive the cash.
Providing you do not default in paying your short term loan there are no extra or hidden fees than what’s stated on the loan agreement.
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If you fail to pay back your loan
If you fail to fulfill your obligation to pay the loan on the date of your next payday as agreed, your loan will go into default whereby fees and interest on the balance will incur as stated in the loan agreement. If Paidcash is unable to contact you and further collection attempts fail, then your account will be handled by our collections team. The collections team will do their best to come to an arrangement with you and help you resolve the matter, which is our goal. Interest will continue to accrue on your balance owing. If you don't work with us and we cannot recover the money over a reasonable period of time, your account may be passed on to an external collections partner. Continued failure to repay this loan will also mean credit reference agencies (CRAs) will record the outstanding debt. This information may be supplied to other organisations by CRAs and fraud protection agencies to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for seven years after they are closed, whether settled by you or defaulted. This will have an adverse affect with your Paidcash trust rating and will prohibit you from borrowing from Paidcash and quite possibly othercredit providers.
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