Searching for an "instant payday loans company" usually means you need money soon and want a lender you can trust. Speed matters, but the lender you choose decides how you are treated if something goes wrong. These are the checks we use before we work with any lender, and you can use them too.
Six things a trustworthy payday loan company does
- Shows its licence. Provinces such as Ontario, British Columbia and Alberta require payday lenders, including online ones, to be licensed. The licence number should be on the site and in your agreement.
- Shows the full cost first. The dollar cost and the APR should be visible before you sign, not buried in fine print.
- Takes no money up front. Legitimate lenders take their fee when you repay.
- Respects your right to cancel. In Ontario you can cancel within two business days and pay nothing extra.
- Does not roll loans over. Rolling one payday loan into another is prohibited in Ontario and in other provinces.
- Collects fairly. Ontario limits how often a lender can contact you about a missed payment and who it can contact.
Questions to ask before you sign
- What is the total I will repay, in dollars, and on what date?
- What happens, and what will I be charged, if my payment bounces?
- Can I repay early or in part?
- Who do I contact if I can’t pay on time?
- Do you share my information with anyone else?
How Jessica’s House works
We help you apply to lenders that hold the right provincial licence and meet the standards above. We explain your options in plain language, show you the maximum cost before you apply, and never charge you a fee for using this site. The lender makes the final decision and is the party you sign your agreement with.
Read more about us or see how the process works.
Where to complain
If you think a payday lender has broken the rules, you can complain to your provincial consumer protection office. In Ontario, that is Consumer Protection Ontario. If an Ontario lender breaks certain rules, you may only have to repay the amount you borrowed, not the cost of borrowing.