Small, interest-free advances to cover a gap until payday: what they cost, who can use them and how they compare with payday loans.
What a cash advance app does
A cash advance app lends a small amount, usually a few hundred dollars, to cover a gap until your next pay. You repay it from your bank account, usually within a pay cycle or two. The best ones charge no interest; they make money from optional fees such as instant delivery or a monthly membership.
They cost far less than a payday loan. In provinces that regulate payday loans, the most a payday lender can charge is $14 for every $100 borrowed, which is about 365% a year on a 14-day loan.
Cash advance apps we’ve checked
Bree
Cash advance
No interest
No credit check
Interest
0%
Amount
Up to $750
Repayment
Up to 90 days
Mandatory fees
None
A small, interest-free line of credit that you draw on to cover a shortfall before payday.
Fees and availability
Fees
No mandatory fees on draws
Optional instant delivery is priced and shown before you confirm
Optional membership: $2.99 a month after a one-month free trial
Optional tips
Repayment
Up to 90 days from each draw; repay early at no cost
Credit check
No credit check
Availability
Not accepting new customers in Quebec, Saskatchewan, Nova Scotia or New Brunswick
Company
Bree Technologies Ltd.
KOHO Cover
Cash advance
No interest
No credit check
Interest
0%
Amount
Up to $500
Repayment
Anytime
Mandatory fees
Cover bundle, from $2/month
An interest-free cash advance that comes with KOHO’s paid Cover bundle, along with a credit report and financial coaching.
Fees and availability
Fees
Requires a KOHO account and the Cover bundle, from $2 a month
No late fees or penalties
Repayment
No set due date; repay anytime. Balances outstanding for more than 3 months may be reported to the credit bureaus
Credit check
No credit check
Availability
Amount based on your eligibility. The advance arrives in your KOHO account and can pay for purchases and bills, but can’t be sent by e-Transfer
Partner disclosure: WalletReturn is a KOHO affiliate and may receive compensation when you sign up through links on this page. This doesn’t change how we evaluate or order products.
Nyble
Credit-building line
No interest
Builds credit
Interest
0%
Amount
$30 – $250
Repayment
Monthly payments
Mandatory fees
None
A small, zero-interest credit-building line you can draw on. Your monthly payments are reported to Equifax Canada.
Fees and availability
Fees
Free basic plan
Optional membership: $11.99 a month, with balance protection insurance, identity theft coverage and instant payments
Repayment
Monthly payments, reported to Equifax Canada; late payments are reported too
Credit check
No credit check or deposit to open; identity verification and underwriting apply
Availability
Needs a Canadian bank account and direct deposit income over $1,000. Features may vary by province
Company
Nyble Canada
We list an app only after checking its fees and amounts on its own website. More apps will be added as they are verified.
Good to know
Optional fees add up: a $3 instant fee on a $100 advance is a high price for two weeks.
Most apps need a Canadian bank account with regular deposits.
Repayment is taken automatically, so make sure the money is there.
Most apps don’t report to credit bureaus, so they won’t build your credit. Nyble is an exception: its payments are reported to Equifax Canada.
Other options first
Ask the bill’s company for more time to pay.
Overdraft protection or a line of credit costs less over a few weeks.
A credit card cash advance costs interest from day one but far less than a payday loan.
WalletReturn compares information and hypothetical costs. No application, identity collection or credit check takes place here. Lender approval, current contract terms and province eligibility must be confirmed with the lender.
