Frequently asked questions

These are the criteria you must meet to qualify for a loan:

Be a Canadian citizen
Be an adult (18 years or older)
Make over $ 1200 per month in income, received by check or direct deposit from your employer
Have reliable employment, with at least 3 months in their employ.
Own a Canadian bank account in which you receive your pay by direct deposit that has been active 3 months or more.
Not be on the cusp of bankruptcy or about to enter into a consumer proposal
Have little or no insufficient funds transactions
Have a low short term debt ratio (other active short term or loans)

We regret that the following sources of income are not accepted:

Self-employment
Social assistance
Student loan
CPP
Child tax
Private pensions
Disability payments
Other income from insurance

Answer: The optional surety is a different agreement that you take in order to guarantee the payments of the loan to the lender. Please refer to your surety agreement for all the details.

According to the Saskatchewan T&L Act, it is your responsibility to review your agreement with your financial institution to:

a) determine if you are permitted to provide your login information,

b) know what the consequences of disclosure of login information may be and

c) understand the liability that may result from the disclosure of login information.

With the economic schedule, the loan would be repaid faster thus lowering the interest. Also, the optional surety fees are usually reduced compared to the Higher interest payment schedule (a credit is usually issued by the Surety). Since the Lender is not part of the Surety agreement, please refer to your Surety agreement for more details.

You can get quick loans with no credit check with PocketLoans. We look at your financial data for the future rather than your credit history.

Submit an application with PocketLoans and get approved today!

Of course! At PocketLoans, renewing clients can receive their funds via e-transfer upon request.
This is available on both Weekends and Holidays and there’s no limit! Your e-transfer is sent within minutes of your request getting approved online.

The process is simple: you will receive an email to the one you have shared with us at the time of the application. Open the email and from the dropdown menu, select your Financial institution. Once you select the financial institution, you will be prompted to sign into your online banking. Click “Accept INTERAC e-Transfer”. Correctly answer the security question with the information that we have provided you in a separate email. Accept the INTERAC e-Transfer.

If you are registered for e-transfer Autodeposit, the funds will be sent directly to the bank account linked to your email.

Offering you quick and reliable service is our top priority: as long as your application is approved by 14:00 EST, your money will be deposited in your account the very same day. Should your application be approved after 14:00 EST, your money will be deposited within 24 hours at maximum. You won’t have to wait a moment longer than stated above, guaranteed.

We offer you some of the best rates in the industry!

We make sure to collaborate strictly with trustworthy lending companies offering:

23% Yearly interest rates (APR)
1.92% monthly or 23% annual interest rates for outstanding loans in the event of a default
$48 in NSF fees
A minimum of 3 months to repay, which means smaller payments
The option to delay a payment for a $28 administrative fee
Brokerage fees applied to the loan

Our offering is unique in that we don’t require a single piece of paper from you, and includes instant verification and an e-signature. When you grant us a secured view-only access to your account, you can have your application for a loan approved without the arduous process of submitting paperwork.

Instant verification is a fast and secure process that grants us viewing privileges to your bank account. Your personal information remains safe and secure, since Instant Verification shares the same level of security as your bank.

All we are provided is a copy of your bank statement: we never log in to your account, nor do we ever see your ID or password information. By logging into your account you verify your identity and grant us a 90-day read-only copy of your bank statement. While logging into your financial institution your private information remains private.

With IBV we can make a quick decision regarding your application, meaning you can get your funds quickly and easily. This is our recommended process as it allows us to serve you best by providing a fast and secure way to get your loan approved.

While payday loans can be quick and easy, they also have their drawbacks.
That said, there are other quick and easy options to borrow money.
Personal installment loans, for example, will cost you less than a payday loan, offering bigger loans with more time to pay them back.
Lenders–like PocketLoans–that offer personal installment loans can be just as quick as payday loans, allowing you to receive your funds in under 24 hours.

PocketLoans offers fast loans in Alberta, Ontario, British Columbia, New Brunswick, Nova Scotia, Newfoundland, Manitoba and Prince Edward Island.
Our fast and simple process for quick loans is there for you when you need some extra money to pay for surprise expenses.

Unfortunately the first and last payments of your loan cannot be deferred.
Also, we cannot defer your next payment if you missed your previous payment, nor can we defer two consecutive payments.

Never. At no point do we see your user id or password and we never have the ability to log into your account. Thanks to this system you can safely and securely share with us a read-only copy of your bank statement. We need this information to approve your application. This technology is the most secure available on the market today.

The first payment of your loan must be made as scheduled. At that point, you can pay back part or all of your loan any time you wish. We require 48 hours notice at minimum to stop a regular payment. We also require 7 days notice to stop a surety fee.

Your first payment must be made via automatic withdrawal, but any payment beyond that can be made early.

Yes. Your application must include one or more active phone numbers that are under your name.

Sadly we are not offering insurance on our loans at this juncture. That said, should you encounter difficult times and the need arise we are open to reviewing our arrangements with you.

No. While digital pictures, screenshots and scans of your documents are all acceptable, we are unable to open links from cloud service providers like Dropbox, Google Drive, iCloud, etc.…

Yes, it is! Once you’ve paid off your first loan with PocketLoans, we’ll take E.I. valid source of revenue for renewals. Proof of E.I. will be required. Certain conditions may apply, contact us online or by phone at 1-855-223-9313 for more details.

The quickest way to have your file reviewed is to make sure your name is on your voicemail, that any security contact provided also has their name on their voicemail, and that you’ve given consent to your employer for a job confirmation.
These three points are typically the ones to slow down the process.

You can choose from 3 different options to make an early payment:
Automatic withdrawal
Money transfer via email
Credit card payment
For the first two options, you can contact us by phone or email to get the information you need. For option 3 you must call 1-855-223-9313 to make a payment that way.

All verification of employment is handled by Royal Suretyship Solutions, a third-party company.
They will only verify the information that you have provided already.
Your information will be kept in strict confidence. At no time do we share with the employer that you are applying for a loan.

First-time clients are eligible for a loan of $500. Once you have a track record with our lenders, you can apply for a bigger loan.

Deferring a payment will incur a fee of $28.00.

We understand how important privacy is for you, that’s why our process is amongst the best available online today. This system was designed with maximizing your privacy and security in mind, using 128-bit encryption, just like your bank. Personal information such as your username and/or passwords stay secret and never get stored or displayed.

This is the fastest, most secure way to share your information in order to apply for a loan. It’s also the most convenient.

Once you’ve completed your application our analysis department will review it to verify that everything is in order and that it meets our lenders’ requirements
It can take up to 1 business day to complete the process, but it is typically quicker than that.

If you cannot work or have lost your job, there are different ways we can help.
You will have to supply documentation to support your claim. With the right documentation we can suspend your payments for 2-6 weeks. Some examples of documentation include:

• A Note from your doctor
• Employment Insurance Claim
• Detox center documentation
• Private insurance claim
• Disability claim
• etc.

If you are not back at work after 6 weeks, you must contact us at 1-855-223-9313 so we can come to an arrangement.

If you miss a payment you will incur a $48.00 NSF fee. If you skipped a surety fee payment, it will be added on at the end of your surety payments, along with the NSF fee. In the case that you’ve missed a loan payment, it will be added on at the end of your loan payments, along with the NSF fee. For every payment you miss, you will see your loan extended by 2 payments: the payment you missed and the NSF fee. That said, you will incur no NSF fee if you can make up the payment within 5 business days.

We offer a 5-day grace period for a missed payment. Should you find yourself able to make that payment within 5 business days, you will not incur an NSF fee.

There are 3 options for payment: 1. Credit Card payment. 2. Money Transfer by Email. 3. Automatic Withdrawal. For Credit Card payments or Automatic Withdrawals you can call us or send us an email. For Money Transfers, you must call us at 1-855-223-9313

If you would prefer to use the more traditional method of sending the required documents by email or fax/scan, we understand and invite you to reach out to us by phone. Please note that this Instant Verification provides enhanced privacy and security as well as speed and convenience, making it possible to get an approval for your loan in minutes.

We need 48 hours notice for you to defer your next payment for a regular loan.

We do not advise it. You will incur a missed payment fee for any missed payment, which is greater than the fee for deferring your payment. Multiple stop payments on a loan will leave you with a file in poor standing, affecting your ability to be approved for future loans.

The process to apply for a loan is 100% secure. Your information will be kept confidential, guaranteed. We require you answer security questions any time you call us to access your file.
This is how we ensure that no one gains access to your information but you.

As soon as we receive all the required information, your file is sent to be reviewed by the analysis department. While the process can take up to 24 business hours, it is typically much faster than that.

We understand, simply call us at 1-855-223-9313 where our agents will help you to the best of their ability to make this loan more accessible to you.

We offer a 5 business-day grace period to make up a missed payment. Should you find yourself unable to make up the missed payment, then both payments will be taken out of your account on the date of your next payment. You will also incur an NSF fee that will be applied on the following payment date.

The way we make sure that potential clients are still employed is by a verbal confidential job confirmation. We make a simple call to your employer to confirm that you currently work for them, the date you were hired and how long they plan to employ you. Be assured that these calls are completely confidential and our team never shares with your employer that you are seeking a loan.

Your information (user id and password) will be sent securely straight to your financial institution to gain access to a “read-only” copy of your bank statement for 90 days and to verify your identity. The information contained in the statement is reviewed by our team of specialists to quickly and accurately come to a decision regarding your loan.

The fee for a deferral will be collected on the date scheduled for your regular loan payment.

While a pay stub does prove that you have worked for an employer, it does not prove that you are still in their employment, or that you will continue to work for them in the future. In order to verify all these aspects of your employment our lenders will conduct a verbal job verification.

Once all the required elements are provided and the file has been transferred to our analysis team, an application can take up to 24 business hours to process. The analysis team will review your application and perform the necessary verifications and phone calls. The vast majority (98%) of all applications are finished and approved within 24 hours of reception. There is the possibility, however, that the process takes up to 3 business days to complete depending on the volume of applications and any complications that arise while making the verification phone calls.

No, unfortunately: getting paid by direct deposit on a regular basis is necessary to be eligible for a loan.

Of course! You will always receive a confirmation email from us with your payment’s confirmation number.