How e-Transfer funding and repayment work

From application to e-Transfer

1. Apply online, any time of day, on any device.
2. Verify your income through your online banking (IBV).
3. Get your decision. Most are immediate and automated. Files sent for manual review take longer, depending on underwriter workload.
4. Sign your loan agreement online.
5. Get paid. Your Interac e-Transfer is sent within 1 hour of approval.

Receiving your e-Transfer

You'll get an Interac e-Transfer notification. Deposit it the way your bank prompts you to, usually in your banking app. Once it's deposited, the money is yours to use.

How repayment works

Your loan agreement shows your due date, the total you owe and how to repay. On a $500 loan for 14 days, you repay $570 ($70 cost of borrowing, 365% APR).

You can repay two ways: by pre-authorized debit (PAD) or by Interac e-Transfer to [email protected].

• Paying early? Go for it. There's no prepayment penalty.
• Payment returned unpaid? A $20 dishonoured payment fee applies, charged once per agreement. Your bank may charge its own fees.
• Changed your mind? You can cancel within two business days without penalty.

Can't make a payment?

Email [email protected] as early as you can — we respond 24/7. Ontario law limits default interest and collection contact; see your rights in Ontario.

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