| ike any other hard-working person, Canadians, | | | | Second, you must have an active bank account |
| too, need a cash advance from time to time. | | | | because the only access to these cash advances |
| Before getting a cash advance, Canadian | | | | is by direct deposit into a working bank account. |
| borrowers should obtain as much information as | | | | Most companies require you to have five to |
| possible about the cash advance process. Payday | | | | seven transactions from that account already. |
| loans may be lifesavers, but be sure you know all | | | | Another requirement is that you must have a |
| the facts before signing on the dotted line. | | | | working phone. These companies rarely do credit |
| Canadian cash advances are similar to those | | | | checks, so a working telephone number is one of |
| offered in the United States, however most | | | | the few verifications of identity they conduct |
| American cash advance companies do not allow | | | | while at the same time ensuring their ability to |
| Canadian residents to participate. As a result, cash | | | | contact you if need be. At the time of application |
| advance companies specific to Canadians were | | | | it is usually required that you bring a pay stub. |
| created to accommodate needs of the Canadian | | | | This gives cash advance companies an idea of the |
| borrower in need of a cash advance. These | | | | amount of money you make and likewise |
| companies are similar to those in the USA, but | | | | determines your loan amount. For example, the |
| are not offered in all Canadian provinces. The loan | | | | company cannot loan six hundred dollars to you if |
| process is actually quite simple. If you are a | | | | you make only three hundred dollars per week |
| Canadian and you need extra cash right away, | | | | because, obviously, it would be impossible for you |
| you can apply. Keep in mind, however, that these | | | | to pay them back in full on your next payday. |
| loans need to be paid off on your next payday. | | | | Canadian cash advances, like American cash |
| The loan amount usually depends on your income. | | | | advances can be done within minutes. Some |
| Typically, a Canadian cash advance will fetch you | | | | companies advertise loaning money to you in |
| anywhere from two-hundred to six-hundred | | | | thirty minutes while others guarantee loans within |
| dollars per pay period. Canadian cash advance | | | | twenty-four hours. Either way, it is much easier |
| interest rates average around twenty-five | | | | to go to your local cash advance company than |
| percent. If you are not able to pay off your cash | | | | to go to the bank for a small loan. The lack of |
| advance by your next payday, you can get | | | | credit checks, a simple application process, and |
| another cash advance and roll over the balance. | | | | speedy results make Canadian cash advances an |
| The downside to this method is that the interest | | | | attractive option for anyone needing quick cash |
| accumulates quickly. Twenty-five percent can | | | | with minimal effort. However, keep in mind that |
| easily turn into fifty percent in a relatively short | | | | cash advances should only be used as a last |
| period. When applying for a Canadian cash | | | | resort and never as a routine way of making |
| advance there are some basic criteria which must | | | | ends meet. |
| be met. First, you must be a resident of Canada. | | | | |