Key facts about Wagepay
- 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 minutes of approval, 24/7 (reported)
- Credit-check policy
- Reported as no credit check
- How to apply
- Online
- Service type
- Online
- Provinces served
- Alberta, British Columbia, Ontario
- Head office / service area
- British Columbia (Canadian arm of an Australian lender)
Is Wagepay licensed?
We have not yet confirmed a licence number for this lender. Check your provincial registry before applying.
Registries change daily. Confirm the licence yourself before you borrow.
What stands out
- Applications and funding at any hour
- Option to split or postpone a repayment (reported)
- Simple online process
What to watch
- Employment income only
- Newer lender in Canada
- Maximum legal cost
Who is Wagepay?
Wagepay started in Australia in 2020 and opened its Canadian business in British Columbia in 2023, later adding Ontario and Alberta. It lends only against employment income, and the amount is tied to your pay — reported as up to a quarter of your salary, to a ceiling of $1,500.
Who is Wagepay suited to?
Fast and simple for people with a regular paycheque. It is newer than most lenders here, and it is not an option if your income comes from benefits or a pension.
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.