FAQ

Applying for a loan is quick and straightforward. Simply fill out our easy-to-use online application form, provide the required details, and submit your request.

To qualify for a loan, you must meet the following criteria:

• Be at least 18 years old.
• Have an active bank account that has been open for at least 3 months (90 days).
• Have a consistent income (weekly, biweekly, or bimonthly) for at least 3 months (90 days).
• Receive your income through direct deposit into your bank account.

Yes, you can still apply with us even if you are in bankruptcy or a consumer proposal. Our underwriters will review your application to determine your eligibility.

Yes, you are eligible to apply even if you have bad credit. Our underwriters will review your application to assess your eligibility.
In case we are not able to fund your loan, we have partnered with other lenders to ensure we can serve you better. Please review our privacy policy for more information.

Our clients can apply for loans ranging from $300 to $3,000.

Yes, we have great news! Our returning clients are eligible to move to higher tiers, allowing them to access larger loan amounts with lower interest rates as a reward for their loyalty and our appreciation for trusting us.

Applying for a loan is simple—no documents are required to submit your application. Just complete the online form, and we’ll take care of the rest.

For applications submitted Monday through Friday, our clients typically receive a decision from our underwriters within 24 hours. Applications submitted after 4 pm on Friday and over the weekend will receive a response by Monday or Tuesday. However, within 15 to 30 minutes of completing the application, you will receive a pre-approval or an option to continue your application with our partners via email.

Once your application is approved by our underwriters, you can receive the funds on the same day or within 24 hours. If you sign the contract after 4:00 pm on Friday or over the weekend, the funds will be deposited on Monday or Tuesday due to the high volume of applications or holidays.

Yes, we encourage you to pay off your loan at any time before the deadline without incurring any prepayment penalties.

No, applying for a loan with us does not affect your credit score, as we do not run a credit check to approve your application. However, please note that late or missed payments during your loan term may impact your credit score.

Our partners and we take your privacy very seriously and employ secure, encrypted methods to protect your personal information. You can trust that your data is safe and protected with us.

All payments are processed through pre-authorized debit from the bank account you have on file with us.

The funds will be sent to you via e-transfer and could be deposited directly into your bank account, depending on your e-transfer settings.

Yes, we have great news! Our returning clients are eligible to move through our loyalty customer programs, allowing them to access larger loan amounts with lower interest rates.

To inquire about your loan, we recommend contacting our customer service support team via email. Our team is available to assist you and provide the details you need. info@mynextpay.ca

Yes, a late payment may incur an NSF fee of $20 or $40, depending on the circumstances.

We understand that unexpected situations can occur. If you enrolled in our benefits plan when you applied for the loan, you are eligible for up to 3 non-consecutive skip payments.
If you continue to be unable to make the payments, your file will initially be transferred to our internal collections department, which will work with you to find a solution. If they are unable to assist, your account may be sent to a third-party collections agency.
To avoid this, please contact our customer service info@mynextpay.ca if you are facing financial issues to see how we can support you.

Most provinces are automatically enrolled in our benefits plan, which allows for financial aid and other benefits.
Ontario and Alberta need to sign up for this program when signing the pre-approval contract.