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FAQ

Frequently Asked Questions (FAQ's)

Q: What are the eligibility requirements for approval?

A: Eligibility requirements are the following:

• You must be twenty-three (23) years of age or older
• You must have a regular source of verifiable income
• You must be a resident of the Canada
• You must be employed for more than three (3) months
• You must have an active bank account that accepts credit and debits with a satisfactory transaction history
• You must NOT be in bankruptcy, consumer proposal, credit counselling or a debt management policy
• You must have an active phone that we can reach you at
• You must have an active email account that you check regularly for communication

Provincial regulations or underwriting criteria may require different minimum or maximum eligibility requirements. National Cash is a not licensed lender in any province and provides referral services to multiple lending sources.

Regardless of these stated requirements, the final approval decision remains at the sole discretion of the lender at all times.  Requirements are subject to change or modification at any time without notice.

Q: How long before I know if I'm approved?

A: Loan Officers work as quickly and accurately as possible on all loan applications. When you apply online you can be approved in as little as 30 minutes from providing employment/banking verification.* Deposit times are dependent on time of approval and your bank.

Q: If I am approved, how do I get my money?

A: Lenders deposit the cash directly into the personal deposit bank account provided on your application by Electronic Funds Transfer (EFT) as well as other methods.  You will be notified during the process. Any submission errors should be reported immediately.

Q: How do I pay it back?

A: Lenders debit your personal payment bank account provided on your application on your next scheduled pay day for the full amount of loan principal plus all borrowing and/or default fees.

Q: How long can I have to pay it back?

A: All loan payments are due on your next pay date unless alternate arrangments are made with the Lender.

Q: I don't want my employer to know I'm applying for a loan. Do you have to verify my employment?

A: Employment information must be verified but there are several ways to provide verification. You can log into the loan administration portal to upload documents, download a cover sheet and fax documents or you can ask a loan officer to call your Human Resources department to verify employment details. Please ensure that your Human Resources department has been authorized by you to provide employment verification. Each Lender has different requirements.

Q: Can I borrow more than once in a pay period?

A: No.

Q: When should I use a payday loan?

A: Due to the higher fees involved, a payday loan is intended to be a small short-term loan that is not intended as a solution for longer term financial needs. You borrow as much money as you can afford to fully repay when the payment is due. If you need to borrow money and feel it will take longer to repay, you should explore other lending options such as: asking a friend, asking an employer, asking a family member, obtaining a bank overdraft, a line of credit, cash advance on a credit card, or consolidating your debt at your bank or financial institution. National Cash recommends you see a credit counsellor if you are having financial problems. Non-profit Credit Counselling services can be found in your local phone book, or visit the following website at:http://clients.geeknet.ca/ccscanada/contact.html

Q: How do I apply?

A: Select 'Click Here to Apply Right Now' from the home page of the loan administration portal.

Q: Will I need to submit anything?

A: Employment verification is required and is dependent on the Lender. There are several ways to provide that information including uploading documents in the loan administration portal, downloading a fax cover sheet and faxing documents or having the loan officers call your Human Resources department.

Q: What happens if I can't make a payment?

A: Payments cannot be skipped but payment arrangements are available to borrowers in distress.  Please contact the lender if that is the case.

Q: How do I qualify for a payday loan?

A: To qualify for a payday loan you must verify your identity, your employment, your banking information and meet our underwriting criteria which is based on a credit lending matrix.

National Cash is not a licensed payday lender. Affiliate links to third party sites are provided without warranty. Subject to Privacy Policy.