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FAQ

What do I need in order to be eligible for a loan?

These are the criteria you must meet to qualify for a loan:

Be a Canadian citizen
Be an adult (18 years or older)
Make over $ 1200 per month in income, received by check or direct deposit from your employer
Have reliable employment, with at least 3 months in their employ.
Own a Canadian bank account in which you receive your pay by direct deposit
Bank active for 3 months or more.
Not be on the cusp of bankruptcy or about to enter into a consumer proposal
Have little or no insufficient funds transactions
Have a low short term debt ratio (other active short term or loans)

We regret that the following sources of income are not accepted:

Self-employment
Social assistance
Student loan
CPP
Child tax
Private pensions
Disability payments
Other income from insurance

How fast can I get the loan?

Our application process is very simple which will make the entire process very quick. You can expect to get the funds anywhere between 30-90 minutes from approval.

Will I be able to get a quick loan with no credit check?

You can get quick loans with no credit check with TurboCash. We look at your financial data for the future rather than your credit history. Submit an application with Heyday and get approved today!

Will my funds be available via Interac e-transfer and how does it work?

Of course! At TurboCash, renewing clients can receive their funds via e-transfer upon request. This is available on both Weekends and Holidays! Your e-transfer is sent within minutes of your request getting approved online.

How are payments divided?

All our loan options are the same. The capital and interest are summed up and equally split into either 3, 6, 8, 10 or 12 instalments, depending on your pay schedule.

What is a Paperless application?

Our offering is unique in that we don’t require a single piece of paper from you, and includes instant verification and an e-signature. When you grant us a secured view-only access to your account, you can have your application for a loan approved without the arduous process of submitting paperwork.

What is instant Banking Verification, or IBV?

Instant verification is a fast and secure process that grants us viewing privileges to your bank account. Your personal information remains safe and secure, since Instant Verification shares the same level of security as your bank.

All we are provided is a copy of your bank statement: we never log in to your account, nor do we ever see your ID or password information. By logging into your account you verify your identity and grant us a 90-day read-only copy of your bank statement. While logging into your financial institution your private information remains private.

With IBV we can make a quick decision regarding your application, meaning you can get your funds quickly and easily. This is our recommended process as it allows us to serve you best by providing a fast and secure way to get your loan approved.

Are all payments eligible for a deferral?

Unfortunately the first and last payments of your loan cannot be deferred. Also, we cannot defer your next payment if you missed your previous payment, nor can we defer two consecutive payments.

What should I do if I missed my payment?

If you have missed a payday loan payment, it is important to contact your account manager as soon as possible to discuss your options. Missed payments can incur fees, so missing a payment can result in additional charges.

What are the requirements?

In order to be accepted, you need to be of legal Canadian age which is 18 or older and be a resident of Canada. You will be refused if you are on ODSP, EI, CERB, Disability or Self Employed.

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