✅ Money Mart Payday loans range from $100 to $1,500
✅ Cost regulated by province, starting at $14 per $100 borrowed in Ontario
✅ Single payment scheduled for your next payday
✅ Eligibility check with no impact on your credit score
✅ Funds available the same day in many cases*
✅ Network of more than 360 physical branches across Canada
✅ Apply online, through the app, by phone, or in person
✅ Operating in the country since 1982
Why we recommend Money Mart Payday?
Money Mart Payday is offered by National Money Mart Company, a brand that has been present in the Canadian market since 1982 and now counts more than 360 branches across most Canadian provinces. This makes it a mature company overseen by provincial regulators, with a legally fixed rate cap in every territory where it operates.
Another standout feature of Money Mart Payday is the flexibility of its service channels: you can apply through the website, the app, by phone, or in person at a branch, and you can switch between channels without having to start your application over.
Since the eligibility check doesn’t affect your credit score, applicants can review the amount they qualify for and take their time deciding whether it’s the right moment to borrow.
Existing customers can also track their repayment and request a new advance directly through the app, cutting down on the need to visit a branch when something unexpected comes up. For people living outside major urban centres, this mix of in-person and digital service extends access to credit in areas with fewer traditional banking options.
What are the features of Money Mart Payday?
Money Mart Payday works with loans from $100 to $1,500, disbursed as a single amount and repaid as a single payment scheduled for your next payday — there’s no instalment plan or extended term like a traditional line of credit. The contract term is therefore short by design, typically between 7 and 14 days, and varies according to the pay cycle of the person borrowing.
The cost is set by each province’s legislation: in Ontario, for instance, the fee is $14 per $100 borrowed, which turns a $500 loan into $570 due on the payment date; in Manitoba, the cost is higher, working out to an Annual Percentage Rate close to 425%.
It’s worth noting that the product isn’t available to residents of Quebec and New Brunswick, and the minimum age to apply is 18 in most provinces, rising to 19 in British Columbia, Nova Scotia, and the Northwest Territories.
As for repayment, the total amount owed — principal plus fee — is usually withdrawn directly from the chequing account provided at sign-up, through a pre-authorized debit or a cheque tied to your payday deposit. Funds, meanwhile, can be disbursed by e-transfer directly to the customer’s account or in cash at a physical branch.
To move forward with an application, you’ll need an active bank account and proof of steady income, since Money Mart Payday’s credit assessment focuses mainly on how consistent your deposits are rather than on traditional credit history.
Because this is a very short-term, high-cost commitment when annualized, it’s best to confirm the exact amount to be debited and the payment date before signing, to avoid surprises in next month’s budget.
Author’s opinion
In Ontario, for example, taking out a $500 Money Mart Payday loan for 14 days costs $70, for a total of $570 due on your next payday — equivalent to an Annual Percentage Rate of 365%. In Manitoba, a similar $300 loan over 12 days works out to an APR above 400%, varying by amount and term.
These figures stand out precisely because Canadian law classifies payday loans, including Money Mart Payday, as high-cost loans, meant to cover a one-time emergency rather than recurring use, instalment financing, or a substitute for an emergency fund.
It’s also worth remembering that this type of credit shouldn’t be treated as a fixed part of your monthly income, since doing so risks starting your next paycheque already spoken for.
The company also runs a limited-time promotion that can knock up to $70 off the cost of a Money Mart Payday loan for new customers, or for anyone who hasn’t taken out this type of product in at least six months, available only in Alberta, Ontario, Nova Scotia, Saskatchewan, and Prince Edward Island.
See everything about the loan that can help you in a moment of need
If you’ve already confirmed you can pay off the full amount on your next payday without falling behind on rent, utility bills, or other outstanding debts, tap the button below to review the full terms of Money Mart Payday, compare the costs that apply in your province, and start your application in just a few minutes, at no cost at this initial stage.
