Provincially Licensed Canadian Payday Loan Sites by Province
Find provincially-licensed Canadian payday lenders and licensing details incl. max. finance charge, default penalty and cool-off period for each province.
Alberta
Licensed Online Lenders:
CashCanada.com, DollarsDirect.ca, MoneyMart.ca, RedLeafLoans.ca, Zaplo.ca
Maximum Finance Charges:
$23 per $100 borrowed
Maximum Penalty for Default:
$25
Cool Off Period:
2 business days
Notes:
Payday lenders are not allowed to roll over your loan charging you additional fees.
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Payday lender collection practices are defined by law.
British Columbia
Licensed Online Lenders:
CashCanada.com, DollarsDirect.ca, MoneyMart.ca, PayCheckPlus.ca, RedLeafLoans.ca, Zaplo.ca
Maximum Finance Charges:
$23 per $100 borrowed
Maximum Penalty for Default:
$20
Cool Off Period:
Next business day
Notes:
Payday lenders are not allowed to roll over your loan charging you additional fees.
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Payday lender collection practices are defined by law.
Manitoba
Licensed Online Lenders:
MoneyMart.ca
Maximum Finance Charges:
$17 per $100 borrowed
Maximum Penalty for Default:
$20
Cool Off Period:
48 hours excluding Sundays and holidays
Notes:
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Payday lender collection practices are defined by law.
New Brunswick
Licensed Online Lenders:
MoneyMart.ca
Maximum Finance Charges:
–
Maximum Penalty for Default:
$40
Cool Off Period:
48 hours excluding Sundays and holidays
Notes:
Payday lenders are not allowed to roll over your loan charging you additional fees.
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Newfoundland
If you have any info, please let us know.
Nova Scotia
Licensed Online Lenders:
MoneyMart.ca
Maximum Finance Charges:
$25
Maximum Penalty for Default:
$40
Cool Off Period:
Next business day
Notes:
Payday lenders are not allowed to roll over your loan charging you additional fees.
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Payday lender collection practices are defined by law.
North West Territories
If you have any info, please let us know.
Nunavut
If you have any info, please let us know.
Ontario
Licensed Online Lenders:
CashMoney.ca, DollarsDirect.ca, MoneyMart.ca, PayCheckPlus.ca, RedLeafLoans.ca, Zaplo.ca
Maximum Finance Charges:
$21 per $100 borrowed
Maximum Penalty for Default:
–
Cool Off Period:
2 business days
Notes:
Payday lenders are not allowed to roll over your loan charging you additional fees.
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Payday lender collection practices are defined by law.
Prince Edward Island
If you have any info, please let us know.
Quebec
If you have any info, please let us know.
Saskatchewan
Licensed Online Lenders:
DollarsDirect.ca, MoneyMart.ca, RedLeafLoans.ca
Maximum Finance Charges:
$23 per $100 borrowed
Maximum Penalty for Default:
$50
Cool Off Period:
Next business day
Notes:
Payday lenders are not allowed to roll over your loan charging you additional fees.
Payday lenders cannot ask you to sign a form that transfers your wages directly to them.
Payday lender collection practices are defined by law.
Yukon
If you have any info, please let us know.
Important Notes
In all provinces and territories, the total cost of your loan must be stated in clear language.
A “cool off” period is a period during which you may cancel the loan with no explanation and pay no fees.
Always Verify Licensing!
Legitimate Canadian payday lenders will disclose complete licensing info. If a loan site doesn’t, avoid it! It may be an illegal lender.
Always confirm the license with your provincial or territorial consumer protection office. If you find a lender that is no longer licensed, please contact us as soon as you can so we can update this page.
Provincially licensed lenders are more likely to adhere to lending laws (financing terms, debt collection, privacy protection, etc.).
Payday loan laws and licensing regulations change often. We cannot guarantee the accuracy or suitability of information. Be sure to read the disclaimer at the bottom of our About page.
This is not an exhaustive list. A listing is not a recommendation. Licensed lenders with complaints and/or low user ratings are removed.
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