Key facts about PAY2DAY
- Loan type
- Payday loan
- Cost per $100 borrowed
- $14
- Repay on a $500 loan
- $570
- Rate / cost disclosure
- $14 per $100 borrowed; about 365% as an annual rate on a 14-day loan
- Maximum loan amount
- $1,500
- Typical loan term
- Up to 62 days
- Funding speed (lender’s statement)
- e-Transfer within one to two hours once approved (reported)
- Credit-check policy
- Reported as no credit check; income is verified instead
- How to apply
- Online or in store
- Service type
- Both
- Provinces served
- British Columbia, Nova Scotia, Ontario
- Head office / service area
- Ontario
Is PAY2DAY licensed?
| Province | Licence number | Status | Last checked | Verify |
|---|---|---|---|---|
| Ontario | 4740787 (one of several store licences) | Published by lender | November 14, 2026 | Consumer Protection Ontario (Ministry of Public and Business Service Delivery) |
Registries change daily. Confirm the licence yourself before you borrow.
What stands out
- Stores and online service
- Phone support available at all hours
- Each store’s licence is separately listed
What to watch
- Three provinces only
- $300 minimum loan
- Maximum legal cost
Who is PAY2DAY?
PAY2DAY opened in Ontario in 2009 and has grown to more than 30 stores, most of them in the Greater Toronto Area, with a small presence in BC and Nova Scotia. Each Ontario store holds its own licence, so the number on the door will differ from branch to branch. Loans start at $300.
Who is PAY2DAY suited to?
Good for Ontario borrowers who want a branch nearby and round-the-clock phone support. If you need less than $300, look elsewhere.
Can you cancel?
Provincial law gives you a short cooling-off period to cancel a payday loan at no cost — two business days in Ontario, British Columbia and Alberta.
What if a payment fails?
A returned payment can trigger a one-time lender fee, and your bank may add its own NSF charge. Check the agreement for the exact amounts.
Sources
Editorial review completed November 14, 2026. Ratings are our opinion, not customer reviews — see the Editorial Policy.