Life is unpredictable and full of uncertainties and one of such uncertainties is financial emergencies which are unforeseen and unavoidable. Such emergencies come when you least expect them and you are undeniably hard up. These are the times when you need money, but you don’t have days or weeks as time is not on your side, so you wouldn’t opt from those traditional time consuming lending options. Fortunately, in Canada, there are other options to get you out of the crisis more quikly and e-transfer Payday Loans Canada 24/7, also known as short term loan or cash advance, is a potential option.
FriendyLender’s e-transfer loans in Canada is purported to provide you money in a short time span and help you get rid of your financial emergency instantly. Borrower can apply for loan at any time of the day in the whole week even at weekends and usually gets loan the very next day but there are lenders which offer instant processing and instant decisions.
Get your money instantly
Provided that you apply early enough and have completed all necessary requirements and documents, you may get you loan within several minutes to an hour after you have completed the online application. Normally your application is processed using automated systems, but given the circumstances, even if your application is examined manually, not by a machine, it will take much less time than the traditional lending processes.
How does the process work?
After filling out and submitting your online application form, which normally takes about fifteen minutes, you will receive an email with a link. Click the link and go to the page where you will see the contract with terms and conditions of the loan and an electronic signature box. Once you have filled in the digital signature and submitted the form, you will be dispatched an e-transfer to the email you provided in the application form. As soon as you click the link, you will see a new screen where you are required to enter your banking credentials. After doing so, the lender will transfer the funds in your bank account and you can use them instantly without any hold.
Do all banks in Canada support e-transfer?
Almost all Canadian banks and credit unions support e transfer, so you don’t have to worry about that. Apply for FriendyLender’s e-transfer loans in Canada and use your funds instantly.
No collateral is required
Unlike secured loans such as mortgage or traditional loans which are connected to your personal assets and property, Payday loans are unsecured loans which means even if you are unable to repay the loan, you are at no risk of losing your home or other personal properties.
No credit check- a myth solved
There are lenders which offer payday loans without any credit check which is nothing but a myth. It is true that they do not do credit checks in traditional senses like using a credit bureau but they perform checks like what kind of risk you might be. Every lender has their own way of doing business using innovative methods, but yes, they do perform some sort of credit check. So, despite having no credit, bankruptcy or bad credit like late payments, credit card debts, rent or mortgage arrears, you can still apply for payday loans.
Repayment plans
Payday loans are temporary solution of your problem and are short-term loans and you are expected to repay them within a month or two depending upon your lender’s policies. There are lenders in Canada which offer two payment plans; Cash Advance, in which you repay the loan in one single payment, and FlexPay, in which your repayment is divided into two to three installments. Borrower repays the loan within one week to two months irrespective of the plan you chose.
What are alternative solutions?
It’s better to consider alternatives like side job, or if you are behind on payments then seek for payment extensions provided that you find yourself in a situation that you couldn’t be able to repay the loans,. You may also try getting help from local charities, NGOs or Canadian government agencies.
Don’t fall in debt cycle
Rules and regulations of lending and repayment differ from state to state and also depend upon lender policies. That said, minutely evaluate and analyze the loan cost and your monetary resources to make sure that the loan fits your budget because payday loans usually come with higher fees and rates than traditional loan types. You may get yourself in a debt cycle if you make your decisions hastily and without considering pros and cons.
Choose lender sensibly
Confirm that the lender has robust and secure infrastructure to protect your information. In this era of internet that shouldn’t be a problem. You can search potential lenders online and choose the best of them. Never forget to read the feedbacks of the past borrowers to make a decision about that particular lender. If you find anything apprehensive and incredulous, investigate until you find your possible lender.
Why choose e-transfer payday loans Canada?
The appealing aspects of payday loans are that anyone with a job can apply and application process is quite simple and you can get quick cash whether a couple hundred dollars or a thousand without providing any security.