• TIME IN BUSINESS: Since 1992
  • CUSTOMERS BASE: Around 600,000
  • LOANS OFFERED: Installment loans, payday loans, and line of credit loans
  • LOAN TERMS: 6 to 60 Months
  • APR: 46.93%

Cash Money Review [Features, Pros & Cons in 2024]

  • TIME IN BUSINESS: Since 1992
  • CUSTOMERS BASE: Around 600,000
  • LOANS OFFERED: Installment loans, payday loans, and line of credit loans
  • LOAN TERMS: 6 to 60 Months
  • APR: 46.93%

Best For

Flexible repayment terms


  • Same-day funding
  • Flexible repayment terms
  • No prepayment penalty on installment loans


  • High interest rate
  • Limited loan amounts

When you’re facing a financial emergency, a payday loan may seem like a wise solution. But, in fact, it may cause a lot more harm than good. So, when you’re looking for a lender, make sure you’ve researched their reviews and ratings thoroughly. 

Luckily, there are plenty of excellent options in Canada. Today, we’ll introduce you to one of them – Cash Money – its services, the latest Cash Money reviews, and Cash Money ratings

What Do I Need to Know about Cash Money?

Cash Money is a Canadian lender offering its services since 1992. More than 600,000 Canadians have relied on the company to meet their short-term cash needs quickly and with more flexibility than other payday lenders and banks. Cash Money is a member of the Canadian Consumer Finance Association. 

In this review, we will cover:

✅ Cash Money services and features
✅ Loan application procedure and terms
Cash Money reviews and complaints
✅ Pros and Cons

CashMoney.ca Reviews: Services Overview 

Cash Money offers three types of loans – payday loans, installment loans, and line of credit loans. Depending on the type of the loan and the province where you reside, the amount ranges from $500 to $10,000. They all have a flat annual percentage rate (APR) of 46.93%, meaning that the rate is always the same, regardless of your financial situation. 

The service is available in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, and Nova Scotia. The loans in Manitoba and New Brunswick are available in-store only, while in the other provinces, they are available both in-store and online.

An installment loan is a fixed, short-term loan, meaning that the amount is paid back periodically over a set period of time. In Alberta, Cash Money offers installment loans of up to $10,000 and in Manitoba up to $5,000.

A line of credit is a flexible, open-ended loan that you’ll need to apply for once. In Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, and Saskatchewan, Cash Money offers a line of credit loan of up to $10,000.

A payday loan involves relatively small amounts of money that should be repaid when the borrower receives their next paycheck. In British Columbia, Manitoba, Nova Scotia, Ontario and Saskatchewan, Cash Money offers payday loans of up to $1,500.

CashMoney Personal Loans Features

  • Loan amounts are between $500 and $10,000.
  • APR is 46.93%.
  • Monthly payments depend on the loan.
  • Loan term is between 6 and 60 months.
  • There is no prepayment penalty, but there is a late payment penalty and a returned payment fee, which are not disclosed on the website.
  • Currently, Cash Money doesn’t provide secured loans, only unsecured ones.
  • Cash Money mobile app is available on Google Play and Apple Store.
  • Typical funding time is within 24 hours of approval.

Loan Eligibility Criteria

To qualify, you need to meet the following Cash Money loan requirements:

  • Over 18 years old
  • Canadian resident and living in one of the provinces where the service is available 
  • Minimum credit score of 560
  • Income threshold of at least $1000 per month
  • No minimum length of credit history, but you’ll need an active bank account and steady income

How To Apply for a Personal Loan with Cash Money 

The online loan application process is fairly simple and straightforward, and you can apply at any time. Here are the steps you’ll need to follow: 

Step 1: 

Go to the Cash Money website – www.cashmoney.ca and click on the red button “Apply Now.”

Step 2: 

Create an account. Enter a valid email address and choose a password and a security question.

Step 3: 

Enter your personal information and provide either a Canadian driver’s licence, birth certificate, or passport 

Step 4: 

Enter your income details. 

Step 5: 

After you’ve provided your personal information and income details, Cash Money will review your application and issue a decision. 

Step 6: 

If you’re approved for a loan, you’ll be able to access the funds through Interac e-Transfer or direct deposit. 

Cash Money Loan Reviews: Pros & Cons

Here are the pros and cons of Cash Money, according to the Cash Money reviews Canada:


  • Same-day funding
  • Funds available in as little as 15 minutes with Interac e-Transfer
  • Flexible repayment terms
  • No prepayment penalties on installment loans


  • High interest rate of 46.93%
  • The loan amounts depend on the province where you live

Privacy & Security Policy

Cash Money manages personal information according to Canada’s Personal Information Protection and Electronic Document Act (PIPEDA), as well as other relevant privacy legislation to the extent required by law. They implement special security safeguards that are specifically designed to protect your personal information against loss of theft, access, and unauthorized use. The system they use for electronic transfers runs on a VPN with a firewall and 128-bit encryption.

Cash Money Reviews 2021 & Feedback

We did an overview of what people are saying about Cash Money. Here are the latest Cash Money customer reviews we found:

  • Cash Money BBB reviews show the lender has 1.2 out of 5 stars based on 5 customer reviews.
  • Cash Money Trustpilot reviews are really positive. The lender has 4 out of 5 stars based on 2,019 Cash Money online loans reviews

Cash Money Reviews Canada: Alternatives

Qualifying for a loan with Cash Money is relatively easy, as per the Cash Money line of credit reviews. However, if you somehow get rejected or want to go with another lender, there are still many available options. 

One of them is Borrowell. Borrowell offers a wide range of loans and services, such as insurance programs, credit monitoring, mortgages, unsecured personal loans, short-term loans, college loans and free credit reports.

Another great option is LoanConnect. LoanConnect is an online platform that serves as a mediator between lenders and customers. It has a simple and quick preapproval process, which usually lasts 5 minutes. Also, LoanConnect is an approved vendor of the Canadian Lenders Association.

Wrap Up

All in all, Cash Money is a great lender if you need funds quickly. It provides flexible prepayment terms, which can be a lifesaver for many Canadians who struggle with their finances. What’s more, the company has superb customer service, as confirmed by the many positive Cash Money reviews


Is Cash Money legit?

Cash Money is a legitimate lender in Canada, with over 28 years of experience in the lending business.

Is Cash Money safe?

Cash Money provides safe and secure lending services, as confirmed by many Cash Money credit reviews.

Does Cash Money affect your credit?

Cash Money will not affect your credit if you pay your loans on time. However, if you don’t pay them on time, it will impact your score.

What is the interest rate at Cash Money?

The annual interest rate at Cash Money is 46.93%. It applies to all loans, regardless of the amount you borrow and your credit score.

Can I apply online for a Cash Money loan?

Yes. There are two ways of applying for a Cash Money loan. The first one is to visit one of the stores, which are available throughout Canada. The second one is to apply online by following the procedure we outlined above. Cash Money reviews agree that the online application is very simple and easy to complete.


Having spent 7+ years immersed in content marketing, Anastasija has written on any topic you can think of! The industries and companies she's been a part of have shifted her idea about novelty and new challenges - in Canada and overseas. She always strives to go out of her comfort zone and learn about new topics that grow on her. Tech and AI are among these things. Writing about these two topics, I’ve caught myself passionately learning about all the ways that technology can impact and help humanity. And with changes happening continually, you have to be actively involved to stay up to date.