FAQs

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The Loan Protection Plan is an optional creditor protection insurance coverage that can be purchased by a borrower. In the event of injury, sickness, involuntary unemployment, critical illness or death, the Loan Protection Plan may cover the loan payments and/or the outstanding principal balance of your loan.

All benefits are paid to the lender to reduce or eliminate your obligations under your loan agreement. The optional Loan Protection Plan is a Credit Group Insurance Plan underwritten by Canadian Premier Life Insurance Company. Click here for more information.

To be eligible, you must:

  1. Be a resident of Canada on the date you apply;
  2. Be under the age of 70 on the date you apply; and
  3. Have agreed to the terms and conditions of the loan agreement with the lender
  4. Apply in store at Money Mart in Canada

Borrow up to $15,000. Based on your loan amount and pay cycle, repay your loan in installments over a period of 12 to 60 months. Each payment will be automatically deducted from your bank account, so you’ll never have to worry about missing a payment.

  • Be at least 19 years old with a valid ID
  • A chequing account
  • A steady source of income

Note: You may be required to provide additional documentation.

Funding of the loan is contingent upon confirmation of your application information and signature on all loan agreements. We offer the following three ways to receive your funds.

  • Interac e-Transfer®: receive email to accept fund transfer within 2 hours
  • Direct Deposit: deposited to your bank account within 1-2 business days
  • In-store: same-day cash or Interac e-Transfer

When you submit your application, you will set up a username and password for your online account. You can login to your account to track your loan status, perform basic account maintenance, review your loan details, or even make additional payments.

The loan agreement you read and sign prior to receiving your loan is a contract between you and the lender. The loan agreement fully outlines the terms and conditions of the loan. It is important that you read and understand the terms and conditions of the agreement. If you have any questions concerning the agreement, please click here to email Customer Care or contact us by calling 1-800-361-1407.

Your credit report is not the only criteria we consider. We use assessment tools that verify the accuracy of information on your application and we may review payment history on similar products.

We are able to consider customers who have been discharged for past bankruptcies.

You can pay off your loan at any time with no penalties.

When applying for a loan at Money Mart, we require you to provide certain bank account information, proof of income and information about your employment, among other information. Money Mart provides an option to share this information directly from your bank, using a trusted intermediary called Flinks. Money Mart does not access your bank account; rather Flinks acts an intermediary to help pull that information from your bank account to populate your loan application.

Flinks is a data company that enables safe and instant transfers of information from your bank simply by login into your account.

When you authorize the transfer of your financial information via Flinks, Money Mart can:

  • Verify your banking information
  • Access your bank statements to easily verify your income and other employment information

You help us speed up your application and deliver your funds faster!

Yes. Money Mart has chosen Flinks because it is a very safe way to transfer your financial information. Your login details are encrypted and never displayed, viewed or shared. Flinks is held to the highest security standards and undergoes routine security and privacy audits.