What is a Payday Loan? A payday loan allows a person to get cash for a short time period against his or her next pay cheque. A customer with an active chequing account, direct deposit and a job can receive funds in his or her account in less than one hour. Why do consumers choose to get loans from Cash One? If you need to cover unexpected expenses like a car repair or household emergency, a payday loan can help solve a potentially serious financial problem. Some folks are looking to bridge a short-term cash need between pay cheques. Others want to avoid bounced cheque fees or late payment penalties. Some clients prefer the payday loan route over having to pawn personal possessions. Annual Percentage Rate Information The Annual Percentage Rate, also known as APR, on our loans is 546% on a 14 day loan. There are no other fees or charges on our loans. Implications of Non Payment If you do not repay your entire loan on or before the loan due date, the loan will be considered "non-payed" and will be subject to a fee of $49.50. Your bank or financial institution may also charge you an NSF (non sufficient funds) fee. In addition, interest will accrue on any unpaid balance at a rate of 59% per annum. So as to avoid the overdue fee and overdue interest, please ensure that you have sufficient funds in your bank account on your loan payment due date.

In the event that you do not repay us on a loan, you will not be permitted to borrow from us again until such time as you have repaid your outstanding delinquent loan. In addition, your file, including all delinquency information regarding your delinquent loan, will be sent to a third party collection agency. We only use reputable collection agencies that comply with all prevailing best and lawful collections practices.

Any customer who does not repay his or her loan in full by the loan's due date will be considered delinquent and the loan will be classified as non-payed. In such cases, the customer's file will be sent to a third party collection agency and customer will have this default reported to a credit agency. The customer's credit rating may be negatively impacted.

We do not renew or roll over loans. If you wish another loan from us, you must first repay any other existing loan you may have with us.