Frequently Asked Questions

In order to make your online loan application process as easy as possible, we have compiled some of our customers’ most common questions with our answers.

• How do i update my account information?

  How do I change my password or reset my password?

  • To update your password, log into your member account by entering your email address and password. Once there, click on the "Change Password" link and type in a new password. Click the "Submit" button to save your new password. You can now access the site with your new password.
  • To reset your password, click on the "Forgot Password" button under the customer login section. On the next page, enter your email address and click the "Send Password" button. A new password will be emailed to you. Once you log in with your new password, you must update that password. We recommend that you use something familiar to you. Do not share your password with others.

  Why do I not receive emails from DollarsDirect?

  DollarsDirect sends email notices when you apply for a loan and when your loan is approved. We may send other emails such as payment reminders, payment confirmations, responses to emails you have sent us, information on discounts and promotions, technical emails (e.g., password resets) and updates about our products. You, in turn, depend on receiving these emails from us.
  If you are not receiving emails from us, please read below.
  

  • The intensity of spam has rendered email more difficult to use. New email filters implemented by internet service providers (ISP) and other technology companies to curb the problem may prevent you from receiving important emails from DollarsDirect.
  • Unless you add us to your address book (or your ISP whitelist), you may have trouble receiving emails from us. That’s because certain spam email filters may incorrectly categorize messages from DollarsDirect as "unsolicited" and redirect them to a junk email folder, or delete them entirely.
  • To ensure you receive important emails from DollarsDirect, please add our email address support@dollarsdirect.ca to your address book or to your spam good list or whitelist.

  How do I update my bank information?

  Simply call our Customer Service team at 1-866-770-7165 from 8 AM to 8 PM ET, Monday through Friday. If your funds have already been deposited into your account, you will need to fax in a copy of a voided cheque or bank statement. Our fax number is 1-877-441-1629.

  How do I update my customer profile?

  Log into your member account by entering your email address and password. Once you are logged in, click on the corresponding link under "Account Details" in the "Manage Your Account" section, make the change and click "Update".

• I still have questions!

  My question wasn’t answered here. Can I contact DollarsDirect directly with my questions?

  You certainly can! Simply call 1-866-770-7165 to speak to a member of our friendly Customer Service team or chat live online from 8 AM to 8 PM ET, Monday through Friday.

• Tell me more about payday loans

  How much money can I receive?

  You may receive up to $250 for your first loan from DollarsDirect. Your loan amount is determined by the information you provide in your application, including your income, and by your credit history and our qualification criteria. Repeat customers can receive up to $1,500.†

  How do I get started?

  You have two quick and easy options. Complete our online application it takes as little as five minutes or call our friendly Customer Service team toll-free at 1-866-770-7165 from 8 AM to 8 PM ET, Monday through Friday to learn more.

  How does a payday loan work?

  The first step is to fill out our online application. It's easy and fast it takes as little as five minutes! If you need assistance, you can call our Customer Support team at 1-866-770-7165 from 8 AM to 8 PM ET, Monday through Friday. Once your application is submitted, you may be considered for a payday loan of up to $250† as a first time applicant with DollarsDirect. If you apply by 5 PM ET, you may be approved and funds may be deposited directly into your bank account as soon as the next business day. Then, on your due date, the payday loan amount and fee are automatically withdrawn from your bank account, if you have agreed to pre-authorized debit. It’s just that easy!

  Does it matter how I use my payday loan?

  We encourage you to use your payday loan for emergency expenses and immediate money needs like car repairs, credit card payments or unexpected bills. Check out our Financial Tips for advice on staying on top of your finances.

  What are payday loans?

  Payday loans are borrowed for a short term and used for a variety of immediate money needs like overdue bills, car repairs or credit card payments. From $100 up to $1,500,† payday loans are deposited directly into your bank account, and if you agree to pre-authorized debit, paid back (with the loan fee) on your next payday.

  Am I eligible for a payday loan from DollarsDirect?

  To be considered for approval, you must:
  

  • Have an active bank account
  • Be at least 18 years of age
  • Be currently employed for more than two months with the same employer, be self-employed or be collecting employment insurance
  • Be a resident of Ontario or British Columbia
    

  When will my loan be due?

  Your due date will normally be on your next payday that is between eight and 40 days away from the date your loan funds are deposited into your bank account. If your pay dates fall outside this range, your loan will be due in 14 days.

  If I apply for a loan on Saturday or Sunday, when will I receive the funds?

  If you apply for a loan on Saturday or Sunday, it will typically be reviewed on Monday for approval, and if approved, deposited on Tuesday. If Monday is a holiday, you’ll receive your funds as early as Wednesday.

  When will the funds be deposited into my bank account?

  If your application is submitted by 5 PM ET Monday through Friday, you may be approved and receive your funds as soon as the next business day. If you apply on Saturday or Sunday, you may be approved and receive your funds as early as Tuesday. If Monday is a holiday, you’ll receive your funds as early as Wednesday. If you apply on a holiday, you may be approved and receive your funds as early as the second business day after the holiday. The exact time of funding depends in part on when your bank posts direct deposits to your bank account. If you expect loan funds on a certain day, but do not see them in your bank account, please call our Customer Service team toll-free at 1-866-770-7165.

  How do I know that my payday loan has been approved?

  Your loan is approved when the funds are deposited into your bank account. You should check your bank account on the funding date shown in your online account to determine whether your loan has been approved and funds have been deposited. The loan status shown in your online account may not be up-to-date until the next business day after funding has been deposited.

  In what provinces are payday loans from DollarsDirect available?

  Currently, DollarsDirect is licensed and operates in Ontario and British Columbia. We are planning to offer our convenient loan services in other provinces in the near future.

• What are my payment options?

  What if I don't have the money in my bank account to pay off the loan?

  You must contact us immediately to set up payment arrangements. If your loan payment is rejected for any reason by your bank, we will initiate collection procedures and you will be prevented from receiving future loans from us until all of your payment obligations have been met in full.

  What if my payment is late?

  If your payment is received after the due date, it will be considered late, and you may be charged an NSF fee. The best way to avoid making late payments is by paying through pre-authorized withdrawal and having sufficient funds in your bank account on your payment due date.

  When I pay off my loan, how soon can I receive another loan?

  It normally takes two business days for your payment to clear at the bank. Once the payment clears, we will send you an email receipt stating that your loan has been paid off. You can then request a new loan online at any time by providing us with proof of payment. Apply by 5 PM ET, and if approved, the new loan will be deposited into your bank account as soon as the next business day.

  Can I pay off my loan early?

  Yes. You can pay off your loan any time before your due date without extra fees or penalties. In fact, you may reduce your loan fee if you pay your loan off early. Simply log into your account and click on "Current Loan Details" under "Manage My Account". Change your "Current Due Date" by selecting a new date from the calendar.

  How does pre-authorized withdrawal work?

  Pre-authorized withdrawal works just like a paper cheque. Once presented to your bank for payment of your loan, the specified payment amount will be withdrawn from your bank account and sent to DollarsDirect to satisfy the amount due.

  What are my payment options?

  You have the option to pay by pre-authorized withdrawal or several other methods. The choice is yours.

  • Paying by Pre-Authorized Withdrawal: Pre-authorized withdrawal, or pre-authorized debit (PAD), allows DollarsDirect to withdraw funds from your bank account on your due date at no additional cost to you. Plus, it’s convenient. You don’t have to worry about remembering to send in your payment!
  • Paying by Other Methods: You can also pay by personal cheque, money order, credit card, debit card, wire transfer, Western Union or online through your bank account. Simply call Customer Service at 1-866-770-7165 up to two days before your due date to change your payment method.

  Regardless of which method you choose, we will send you an email three days prior to your due date reminding you that your loan is coming due.

  How do I repay my loan?

  We will send an email three days prior to your due date reminding you that your loan is coming due. Your bank account will be automatically debited on the due date, so there’s no need to send payment by mail. If you’re interested in reducing your fee, you can repay your loan early. Simply log into your account and click on “Current Loan Details” under “Manage My Account.” Then change your “Current Due Date” by selecting a new date from the calendar.

  How do I view my payment information?

  Just log into your DollarsDirect online account! You can also call our Customer Service team at 1-866-770-7165 Monday through Friday from 8 AM to 8 PM ET. They’ll be happy to answer your questions.

  What if I want to send payment information to you?

  For your protection, please do not email or fax any credit card information to our Collections department. Please call us at 1-866-770-8192 if you want to set up alternate payment arrangements.

• What else do i need to know?

  What if I don’t have perfect credit?

  If you have poor credit, talk to us.¶ Less-than-perfect credit will not necessarily prevent you from receiving a loan from DollarsDirect. Our friendly representatives will work with you, even if you have already been turned down by other lenders. If you have defaulted on past transactions, you may be declined for a loan from DollarsDirect.

  Why does DollarsDirect run credit checks during the loan approval process?

  We run credit checks to verify your application information and to help determine the amount of your potential loan.

  What companies do you use for credit checks?

  We run our credit checks through TransUnion and Equifax.

  Do I need to fax or email documents?

  There are some instances where additional proof-of-identity such as a driver’s licence or other identification document may be required due to regulatory requirements or our qualification criteria. For example, we normally require self-employed applicants to fax us bank statements and recipients of employment insurance to show proof of insurance.

  Is my information secure?

  Your privacy and security are extremely important to us. We maintain physical, electronic and procedural safeguards that comply with federal regulations covering your personal information. You’re welcome to read our Privacy Policy.

  Can I cancel my loan?

  Yes, you can cancel your loan within two business days of the issue date without any cost or fees simply return the principal. To cancel your loan, call Customer Service at 1-866-770-7165 Monday through Friday from 8 AM to 8 PM ET.

• What will it cost? how can i save?

  If I repay my loan early, will my loan fee be reduced?

  Yes, we will automatically reduce your loan fee according to the number of days that the loan is repaid early.

  What is the fee for my payday loan?

  If you are a resident of Ontario, you will be charged a fee of $21 for every $100 borrowed; if you are a resident of BC, you will be charged a fee of $23 for every $100 borrowed. If you have a discount code, you must provide it when you fill out your application to receive the applicable discount off the loan fee.

  Does DollarsDirect charge late fees?

  DollarsDirect may charge you a non-sufficient funds (NSF) fee if we attempt to make a pre-authorized withdrawal from your bank account on your due date and there are not enough funds in your bank account. Your bank may also charge you an NSF fee. Please check with your financial institution for their policy on NSF fees.

  How else can I reduce my loan fee?

  You can reduce your next payday loan fee by $50 when you refer a friend through our Refer-a-Friend program. Check out our Refer-a-Friend page for details.