Imagine this scenario: You’re in a pinch and need some extra cash, fast. Maybe you just had a big unexpected expense, one you couldn’t avoid because—let’s face it—life happens. So now you’re in that stomach-turning scenario where you’re short on money for rent or other important bills. What do you do?
There are a lot of bad or inconvenient options available to you, such as ignoring your upcoming bills or visiting a payday lender or bank. Payday lenders will saddle you with astronomical interest rates and bank loans require enormous amounts of paperwork, not to mention your money usually isn’t available for several days.
Luckily you can avoid all of those scenarios by applying for an e-transfer loan from a trusted online lender instead.
Need instant cash without the risks that come with payday loans? It only takes three minutes to apply for your e-transfer installment loan today!
Advantages of an e-transfer loan
Modern technology has transformed financial services, including lending. Just as you can hail a cab from your couch using an app on your phone, you can apply for an e-transfer loan (aka email money transfer loan) online. A few taps of your finger and you’re done. And thanks to the speed of e-transfer technology, the money gets deposited into your account in a matter of hours.
This means you don’t have to take that sheepish walk into a payday lender, spend hours in a bank, or make an awkward call to a family member asking them for money. You can apply for an e-transfer loan from anywhere, anytime.
Most importantly, e-transfer loans give you peace of mind. When an emergency strikes, you can be financially covered right away.
Payday loans vs. personal loans: What’s the difference?
The online services of some payday lenders boast e-transfer technology too, but personal installment loans are more beneficial for a couple of important reasons.
Whether you apply in person or online, payday loans strap dangerously high interest rates to your loan (as high as 600% in some cases!) and expect the full loan amount to be repaid incredibly fast (sometimes as soon as two weeks).
An e-transfer personal instalment loan from a trusted online lender, by contrast, offers more reasonable interest rates and does not require you to pay back the entire loan amount immediately. With a personal installment loan, you can pay the amount back bit by bit each month. In turn, this positive payment history will help boost your credit score, which is a nice bonus.
What to look for in the right e-transfer loan
Not all online lenders are created equal. It pays to do some minor homework before you choose where to apply for an e-transfer loan. Here are a few things to look for:
1. Customer reviews
Any online lender worth using will have plenty of customer reviews available online—and not just on their own website. Check their reviews on sites like Trustpilot, Feefo, and Google.
2. Speedy service
The main benefit of seeking an e-transfer loan is speed. How soon will the money be available to you? And will it be deposited directly into your account? The most technologically advanced online lenders will deposit your loan amount into your account within hours.
3. Terms & conditions
Before you sign anything, examine the conditions on your new loan. Are there advance fees and is the repayment schedule rigid? These should be avoided if possible. Good online lenders have no advance fees and offer flexible repayment plans. If you choose a personal installment loan with longer repayment plan, a flexible lender will let you pay off the loan at any time to help you save on interest charges. This is what's known as an open-ended loan.
Get an instant e-transfer loan today!
Fresh Start Finance offers same-day e-transfers and applications only take a few minutes online.
Have you been hit with a large and unexpected expense? With Fresh Start Finance you can apply for installment loans up to $10,000 with a few taps of your finger or clicks of your mouse.
Some other reasons more Canadians are choosing Fresh Start Finance include:
- Poor credit? No problem: You can get approved even if you have bad credit, are new to credit, or have filed for bankruptcy. Whatever your credit situation, Fresh Start Finance can help you.
- Flexible payment plans: Select a longer term to make lower monthly payments or a shorter one if you want to pay your loan back as quickly as possible.
- Trusted reputation: Fresh Start Finance is trusted by Canadians across the country. See what they have to say on Trustpilot and Feefo.
- No hidden fees: Our personal loan terms are transparent and our loan agreements are easy to understand. And you’ll never pay a dime in application fees, maintenance charges, and other hidden costs.