How To Get A Payday Loan

How To Get a Payday Loan |


The world of payday loans in Canada is different depending on which province you’re in, which company you’re dealing with and whether or not you’re choosing to apply for a payday loan online, or go into a retail store. However, there are some fundamental similarities between direct lenders (which are very different than indirect lenders, which we explain here), and even between some provinces.

To help you make the best decision for you and your financial health, here is a quick but to-the-point breakdown of the differences and similarities of payday loan requirements for different online lenders in Ontario. (GoDay Inc.)

Of course, we’re going to start with ourselves first! Let’s start with the most basic requirements of getting a payday loan with

-We only operate online, so if you’re one to go to a store, sorry, we’re nowhere to be found on the ground. However, if the idea of no longer walking into a retail store (no one sees you, no getting into your car/onto a bus/walking, etc to the store aka: time wasted) appeals to you, then consider giving us a try. We may only be online, but our application takes about 5 minutes to complete and even less if you become a repeat customer.
-You need to be at least 18 years old and a Canadian resident.
-Due to the fact we operate online only, you need to have your own email account where we can send your loan documents and contact you. This is also where we will send an Email Money Transfer if you’re eligible for that service.
-You need to be employed and collecting a regular income. Due to our dedication to responsible lending, we don’t offer our services to pensioners or other fixed incomes. We’re really not a fan of getting you stuck in a debt cycle, and we believe those practices will do just that.
-Most importantly, you need to have your own bank account with a Canadian bank or credit union that is at least a few months old.
-Get familiar with your “screenshot” features on your computer, tablet or smartphone! There’s no faxing required with our application. We’ll need to see proof of your employment and at least 15 days of banking transactions. The easiest way to get us this information is to log into your online banking and take a screenshot of the information we need. Simple & quick!
-Once you fill out our online application, one of our Team Members will be in contact with you to verify your information and request any additional documentation you might need.


We have a few things in common with online lender DollarsDirect®, such as the following:

-You have to be a Canadian citizen
-You have to be at least 18 years old
-You have to have an open bank account with a Canadian bank
-You have to be currently employed

“Mogo” (Mogo Finance Technology Inc©)

“Mogo” operates mostly online, though they do have some kiosks available as well. Similar to us and DollarsDirect®, to apply for a short term loan with them you must:

-Live in Ontario, Alberta or British Columbia
-Have an open and active bank account.
-Be the age of majority in your province.
-They do specify that some income types might not be accepted.

“Mogo” has a few specific requirements that vary from us.

-You must have a minimum annual income of $13,000.
-You have to have been working for at least 30 days.
-They might require references.

“Wonga” (Wonga Canada Inc.)

Just like the previous three companies, “Wonga” offers online loans to those who have;

-An open and active Canadian bank account
-An open and active email account
-Be the age of majority in the province you’re applying from

What makes these companies different? & DollarsDirect® are both Canadian owned and operated and operate only online.
-“Wonga” is a company from the United Kingdom.
-DollarsDirect® is closed on the weekends, but we’re open on Saturday’s AND we offer Email Money Transfers for your convenience!

Leave a Reply

Your email address will not be published. Required fields are marked *