About Money Mart

Money Mart, established in Edmonton, Alberta, in 1982, is a well-known lending company that specializes in various credit products and financial services.

With over 40 years in the financial sector, Money Mart offers a wide range of services, such as:

• Installment Loans
• Cash Advances
• Payday Loans
• Business Loans
• Currency Exchanges
• Western Union® Money Transfers
• Bill Payments
• Cheque Cashing
• Titanium+® Prepaid Mastercard

Currently, Money Mart has more than 350 service locations throughout Canada and employs over 1,000 Canadians. Their dedication to providing fast and convenient financial solutions is clear in their online platform, where customers can apply for financing and get approval in as little as two hours.

Money Mart is particularly recognized for its diverse loan offerings, including installment loans and cash advances, which are designed for individuals needing quick access to cash. With flexible eligibility requirements, Money Mart makes it easy for people with lower credit scores to secure the funds they need. Whether through their physical locations or online services, Money Mart remains a reliable source for financial solutions across Canada.

Money Mart FAQs

What is the maximum amount I can borrow from Money Mart?

Money Mart offers loans ranging from $120 to $25,000, depending on the type of loan and what’s available in your province.

How does a Money Mart Installment Loan function?

You can borrow up to $25,000 with a Money Mart Installment Loan. The loan is repaid in installments over 12 to 60 months, based on your loan amount and pay cycle. Payments are automatically deducted from your bank account, so you don’t have to worry about missing any.

What are the requirements to qualify for a loan with Money Mart?

To apply for a loan with Money Mart, you need to be at least 18 years old with a valid ID, have a chequing account, and a steady income. You might also need to provide additional documents.

How quickly can I get approved and receive funds from Money Mart?

Approval and funding depend on verifying your application details and signing the loan agreements. Money Mart offers three ways to receive your funds:

• Interac e-Transfer®: Get an email to accept the transfer within 2 hours.
• Direct Deposit: Funds are deposited into your bank account within 1-2 business days.
• In-store: Get cash or an Interac e-Transfer on the same day.

Is it possible to get a loan from Money Mart if I have bad credit?

Money Mart doesn’t rely solely on your credit report. They use various tools to assess your application and may look at your payment history on similar products.

How can I track the status of my Money Mart loan application?

After submitting your application, you’ll set up a username and password for your online account. Log in to track your loan status, manage your account, view loan details, or make extra payments.

Can I pay off my Money Mart loan early, and will there be any penalties?

You can pay off your loan anytime without any penalties.

Money Mart Products

Cash Advance

Loan Amount

• $120-$1,500

Rates & Term Length

• Interest Rate: Dependent on province
• Payment Schedule: Up to 62 days

Service Details

• Loan Processing Time: Within 48 hours
• Money Transfer Method: Direct Deposit
• Repayment Method: Automatic debit

Eligibility

• Over 18 years of age
• Must be a Permanent Canadian Citizen
• Must have a steady income source
• Must have an active bank account

Required Documentation

• Government-issued ID
• Proof of income

Installment Loan

Loan Amount

• $500 – $25,000

Rates & Term Length

• Interest Rate: 34.56% – 34.95%  APR
• Payment Schedule: 12 – 60 months

Service Details

• Loan Processing Time: Within 48 hours
• Money Transfer Method: Direct Deposit
• Repayment Method: Automatic debit

Eligibility

• Over 18 years of age
• Must be a Permanent Canadian Citizen
• Must have a steady income source
• Must have an active bank account

Required Documentation

• Government-issued ID
• Proof of income