Speedy Cash Review

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Speedy Cash - Canada review

Speedy Cash is a licensed Canadian lender with an interest rate from 15% – 23% (depending on province) that can help with a payday loan if you find yourself in need of emergency cash. 

Speedy Cash payday advances provide quick cash loans for emergency expenses and just about any other reason you may have. For applicants that are approved their loans are available by e-transfer and deposit to your bank account.

Advantages of Borrowing with Speedy Cash

Borrow up to $1,500 (based on your income)

Alternative incomes considered (employment insurance, child tax benefit and seniors’ pension)

Fast processing – loans within 1 hour to 1 business day by e-transfer or direct deposit.

Disadvantages of Borrowing with Speedy Cash

High interest rates – up to 400% or more

Short repayment terms (usually 62 days max)

First time borrowers unable to get more than $300

Speedy Cash accepts applications from those that have bad credit and uses various methods of reviewing an application for creditworthiness. 

Requirements for borrowing with Speed Cash in Canada include being a Canadian citizen or a permanent resident, having a steady income, along with a bank account when applying online. You will need to provide your name, home address, email address, date of birth and phone number, along with providing government-issued ID, a 60 day bank statement from date of application and other details. If you apply offline, you may need a post-dated cheque. 

Speedy Cash operates in the provinces of BC, AB, SK, NS, YK, NT and NWT, with 20+ physical locations in BC, AB, NS and SK. Some of the more popular locations of Speedy Cash are Regina, Lethbridge, Saskatoon, Chilliwack and others. Speedy Cash previously operated under the name 310-LOAN.

Borrowers need to be careful when they use payday loans. While they’re a convenient way to access the funding you need, they come with high interest rates and short repayment terms. It’s for this reason that installment loans are recommended when borrowing.