Frequently Asked Questions
Do you practice Responsible Lending?
CapitalCash is committed to responsible lending.
- Our charges are spelled out in your loan agreement and there are no hidden extras - so you know how much you will repay at all times.
- Most of all, we will not lend you money we do not believe you can pay back.
- We follow guidelines to protect you and your personal information. We provide you with understandable legal agreements.
- We work to "Know Your Customer" guidelines, meaning we will not advance a loan until we have taken reasonable steps to confirm your identity.
We will not take title to any customers's asset(s) as security for repayment of any payday loan.
We will not garnish the wages of any customer in the case of non payment of any payday loan.
- We will collect past due accounts in a fair, lawful and professional manner. We will not threaten criminal action or use other forms of intimidation or harassment to collect outstanding amounts.
We allow our customers the right to rescind a payday loan at no cost to our customers on or before the close of the business day after which the loan agreement is signed.
- We make every effort to respond diligently to all complaints that our customers may have.
We comply with all the laws and regulations applicable in the jurisdictions in which we provide payday loans
Although we do everything we can to be a responsible loan provider, you know your circumstances better than anyone else. So, before you apply, ask yourself:
- Will a payday loan really help me?
- Will I definitely be able to pay it back in full?
- Do I have longer term financial problems?
- Do I need a long term solution?
What are the Implications of Late Payment?
If a pre-authorized withdrawal is returned to CapitalCash for any reason, including but not limited to "NSF," "account frozen," it will be considered as a non-payment. In these cases you will be charged an NSF fee of $49.50 from Capital Cash. You may also incur an overdraft charge from your bank. CapitalCash would then attempt a subsequent withdrawal on your next pay date for the original amount owed. In addition, an annualized interest of 59% will accrue from the loan repayment date up to and including the eventual repayment date. For example, and for complete clarity, say your pay cycle is every 14 days and a payment of $240 dollars is due on June 10 but payment is received on June 24. In this case, you would be charged interest as follows: $240.00 x 59% x 14 days / 365 days = $5.43.
What are the Implications of Non-Payment?
If we receive your payment after the due date of your loan, it will be considered late, and you will be charged a fee of $49.50 from CapitalCash. You may also incur an overdraft charge from your bank. In addition, an annualized interest of 59% will accrue from the loan repayment date up to and including the actual repayment date. For example, and for complete clarity, say a payment of $240 dollars is due on June 10 but payment is received on June 15. In this case, you would be charged interest as follows: $240.00 x 59% x 5 days / 365 days = $1.94. The best way to avoid making late payments is have sufficient funds in your bank account on your payment due date.
If this withdrawal is again returned to Capital Cash for any reason, CapitalCash will turn over your delinquent account to a third party collection agency. NO interest would accrue from the most recent non-payment date going forward. For clarity, NO interest accrues as of the date the delinquent account is turned over to a third party collection agency.
CapitalCash has agreements with third party collections agencies, authorizing them to collect on delinquent accounts. Accounts may be settled for less than the amount actually owing, at the discretion of the collection agency.
What is your Renewal Policy?
Pursuant to relevant payday loan statutes and regulations, CapitalCash does not offer refinances, rollovers or extensions to its payday loans in any jurisdictions that prohibit refinances, rollovers, or extensions
Are you Compliant with Regulations?
Capital Cash complies with all Applicable Laws in all jurisdictions in which it provides loans and as dictated by the Payday Loans Act, 2008.
Before I apply for a Loan
How long does the application take?
Applying online for a payday loan or cash advance with Capital Cash is fast and easy! It takes less than five minutes from start to finish!
How much can I borrow?
You can borrow from $100 up to $1,000 depending on your personal circumstances. Typically speaking, first time clients will only be approved to a maximum of $150. Once you have developed a positive track record with us, the amounts you will be able to borrow on subsequent loans will increase. If you are approved before 2:00 PM EST, Monday through Friday, your loan funds will be electronically deposited into your account before 6:00 PM EST. On weekends and for repeat customers we will, at our discretion, send Email Money Transfers or EMTs. EMTs are typically received by a client within 20 minutes of our sending them.
How much does it cost?
Capital Cash provides short term loans only. Loans you receive from us should NOT be considered as a long term solution for financial difficulties which may require professional credit counseling. As such, our fees are dependent on the duration of the loan and are often less than potential NSFs and other fees you may be charged by your bank.
The Annual Percentage Rate (APR) on a 14 day loan is 546%.
Can I get a Payday Loan?
If you are over 18 years of age, are employed full time, and have direct deposit of your pay, you are likely a good candidate for qualification.
What information do you need?
Our simple online form only requires the following information:
- Your name and address
- Your date of birth
- Your contact telephone numbers and email
- Your work and pay details
- Your bank account details
Why do you need all this information?
We are a responsible loan provider and this means that we need to verify:
- That it is you taking out the loan
- That you are employed full time and are / will be able to repay your loan
- That we electronically deposit the loan funds to your account and no-one else’s account
- That you can realistically repay your loan
Do you conduct credit checks?
No, we do not currently credit score your application. It means you get our loan decision (and your loan funds) faster!
I have a so-so credit history - will this affect my loan application?
Not necessarily. We look at each application based on your recent circumstances and transactions.
I don't get paid by direct deposit. Can I still get approved for a loan?
In a word, no. We require that you be paid by direct deposit. This ensures the timeliness of your pay and standardizes the procedure by which we get repaid.
Getting a Payday Loan
What do I have to do?
Complete our quick and easy application online. Once you are approved, you will be asked to electronically sign your loan agreement documentation. We will do the rest!
When and how will I receive my loan?
If you are approved before 2:00 PM EST, Monday through Friday, your loan funds will be electronically deposited into your account before 6:00 PM EST. On weekends and for repeat customers we will, at our discretion, send Email Money Transfers or EMTs. EMTs are typically received by a client within 20 minutes of our sending them.
Can I have two payday loans at the same time?
Yes, if you have a good history with us.
For the first time customers, however, we typically allow only one loan. Prior payday loans have to be repaid before another can be offered. Please remember that we are a responsible loan provider and want to ensure that you will be able to repay what you borrow.
What is EMT or Email Money Transfer?
Interac Email Money Transfers are a simple, convenient, and secure way to send and receive money directly from one bank account to another. All you need is access to online banking through a participating financial institution, and you can send money to anyone with an email address and a bank account in Canada — without sharing any personal or financial information. It's a great alternative to cheques and cash. To learn more about Email Money Transfer click here.
Paying back my payday loan
How do I pay back my loan?
Easy – we electronically debit the agreed repayment amount from your account on your next payday – there’s nothing else for you to do.
How can I send you a payment via EMT - Email Money Transfer?
If you have a payment that is due, you can send us the required funds via EMT or Email Money Transfer. Please email us your EMT to Service@CapitalCash.ca. Use your SIN number as the security question and answer. To learn more about Email Money Transfers click here.
Can I defer my payment?
Yes, you are allowed to defer or "roll over" your loan. This will incur new fees for every pay period the loan is due.
My payday or bank details details have changed. What do I do?
If your payday has changed, or you have new banking details, please contact our customer service team at 1-877-658-3740 or send us an email request at Service@CapitalCash.ca as soon as possible. Our customer care specialists will make the necessary changes!
What if I have problems repaying my loan?
We understand that people’s circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help.
The most important things to note are:
- Don’t borrow money you don’t think you can pay back.
- Talk to us and we will help as much as possible.
What are your business hours?
Our website is open for business 24 hours a day, 365 days a year!
Our customer service team is available Monday to Friday from 9:00AM to 5:00PM EST, and Saturday from 10:00AM to 3:00PM EST.
How can I contact you?
You can contact our customer service team in the following ways:
- Email: Service@CapitalCash.ca
- Telephone: 1-877-658-3740
Why can't I receive emails from you?
Click here for help.
I am very happy with your service – what can I do?
Please let us know! We work very hard to keep our customers happy and it is always good to know when we’ve succeeded.
I am not happy with your service– what can I do?
At Capital Cash, we do everything we can to make sure our customers get the best possible service. However, sometimes, we don't get things right the first time.
If you're not completely happy with our service, we need to hear about it so we can correct any mistakes we've made.
How we will deal with your complaint
We want to:
- Make it easy for you to tell us about your complaint
- Give your complaint the attention it deserves
- Resolve your complaint as quickly as possible
- Make sure you are satisfied with how your complaint was resolved
How and where to complain
If you're not satisfied with any aspect of our service, you can tell us about your concern in the following ways:
- By Telephone - 1-877-658-3740
- By Email - Service@CapitalCash.ca
How long will it take?
We will try to resolve your problem immediately. However, if we have not been able to resolve your complaint within one week, we will contact you and advise:
- Why we have not yet resolved your complaint
- Who is dealing with your complaint
- When we will contact you again