Cash advancein Canada,until your next payday

A cash advance is a small amount you borrow against your next paycheque. In Canada that usually means a payday cash advance from a licensed lender, a cash advance app, or cash taken from your credit card. A payday advance lets you borrow $100 to $1,500 by Interac e-Transfer, at no more than $14 per $100.

For example, a $300 cash advance for 14 days costs at most $42, for a total of $342.

Subject to approval. Not everyone will qualify.

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Woman comparing cash advance costs on her laptop

Small cash advance$100 to $1,500

A payday cash advance at a glance

Here's what you can expect from a cash advance through a payday lender.

$100 to $1,500

Borrow what you need until payday and get it by Interac e-Transfer.

$14 per $100 max

One capped cost covers interest and all fees.

Income-based review

Lenders check your deposits and bank activity, not only your credit.

One repayment

Repaid in full on your next payday, within 62 days.

What is a cash advance?

A cash advance is a small amount of money you borrow against your next paycheque. In Canada, a payday cash advance lets you borrow $100 to $1,500 from a licensed lender, at no more than $14 per $100 borrowed, and you repay it in one payment on your next payday.

Payday advance vs app vs credit card

	Payday cash advance	Cash advance app	Credit card advance
How much	$100 to $1,500	Usually smaller amounts	Up to your cash limit
Cost	Max $14 per $100	Subscription or optional fees	Advance fee plus interest from day one
Checks	ID, income, bank activity	Bank account data	None, if you have the card
Repayment	One payment on payday	Taken from your next deposit	Part of your card balance

Amounts and fees for apps vary. Read Cash Advance Apps vs Payday Loans in Canada for a side-by-side of Bree, Nyble and KOHO.

How to choose the cheapest option

If you only need $50 to $100 and already use a cash advance app, start there.
If your credit card has room and you can pay it off quickly, a card advance is fast, but interest starts the same day and there's usually a separate fee.
If you need more than an app gives, have no card to draw on, and can repay in full on your next payday, a payday cash advance fits.

Small cash advance costs

You borrow	Max cost	Max total
$100	$14	$114
$200	$28	$228
$300	$42	$342
$500	$70	$570

What it costs per year

A $14 fee on $100 borrowed for 14 days works out to an annual percentage rate of about 365%. Instalment loans, by comparison, are capped at 35% a year, and both limits took effect on January 1, 2025. The Financial Consumer Agency of Canada compares payday loan costs with other options. That gap is why a payday cash advance only makes sense for a short shortfall you can repay in full.

Man by a window checking his cash advance application on his phone

Who can get a payday cash advance?

To be considered for a cash advance through a payday lender, you'll need:

18 or older (19 in some provinces) and living in Canada, outside Quebec
Regular income from work, a pension or benefits, paid into your bank account
A Canadian bank account in your name that accepts e-Transfers
A working email address and phone number

Check if I qualify

When a cash advance isn't the answer

A cash advance is built for one gap between paydays. If repaying it would leave you short again before the next payday, you'll end up borrowing again, and the fee applies every time. In that case, a longer-term loan, a payment plan or free advice from Credit Counselling Canada is a better next step.

If you can't repay on time, contact the lender before the due date. A returned payment can add an NSF fee from your bank and a fee from the lender, within your province's limits.

CashPicks isn't a lender. We connect you with third-party lenders, and the lender you're matched with makes the decision and sets your terms.