What is Instant Debit Card Funding and How Does It Work?

How Does Instant Debit Card Funding Work?

Instant debit card funding is a feature that allows approved borrowers to receive their payday loan directly on their debit card instead of waiting for an e-transfer or visiting a store for cash. Here’s how it works:

1. Apply for a payday loan online or at a Speedy Cash store.
2. Choose instant debit card funding as your preferred disbursement method.
3. Speedy Cash reviews your application and verifies your eligibility.
4. Once approved, funds are sent immediately to your debit card.
5. Use your money right away for everyday expenses, bills, or emergencies.

Unlike traditional bank deposits, which can take one to two business days, instant debit card funding ensures that you get your cash right away.

Benefits of Instant Debit Card Funding

Instant debit card funding is available to most payday loan borrowers who meet the Speedy Cash eligibility requirements:

• Be at least 18 years old
• Have a steady income (employment, government benefits, or another reliable source)
• Own an active bank account and debit card
• Reside in a province where Speedy Cash operates

Speedy Cash Locations & Online Loan Availability in Canada

Speedy Cash offers in-store payday loans in these provinces:

• Alberta
• British Columbia
• Nova Scotia
• Saskatchewan

Speedy Cash offers online payday loans for customers located in these provinces:

• Alberta
• British Columbia
• Manitoba
• New Brunswick
• Newfoundland & Labrador
• Ontario

Note: Speedy Cash does not operate in the territories (Yukon, Northwest Territories, Nunavut) or Quebec.

How to Apply for a Payday Loan with Instant Debit Card Funding

Applying for a Speedy Cash payday loan with instant debit card funding is a quick and easy process that allows you to access the funds you need in a timely manner. 

The application process is streamlined, and once approved, the funds are transferred directly to your debit card, allowing for almost immediate access. This convenient funding option eliminates the need to wait for checks to arrive or visit a physical location to pick up your cash.

Follow these steps:

Online Application Process

1. Choose which personal loan that we offer. Speedy Cash offers cash from a loan based on your needs: instant and online payday loans, child tax loans, pension loans, emergency loans, vacation loans, and e-transfer loans.
2. Complete the online application with your personal, financial, and employment details.
3. Select instant debit card funding as your preferred disbursement method.
4. Submit your application and wait for approval.
5. Once approved, your cash becomes available for use on your debit card.

In-Store Application Process

1. Visit a Speedy Cash location in Alberta, British Columbia, Nova Scotia, or Saskatchewan.
2. Speak with a loan representative and complete your payday loan application.
3. Select instant debit card funding as your disbursement option.
4. Get approved and receive your cash quickly.

How Does Instant Debit Card Funding Compare to Other Payday Loan Funding Options?

Instant debit card loans are the fastest way to receive your payday loan. Instant debit card funding is the quickest way to get your payday loan funds. Compared to traditional methods like direct deposit or check, which can take several days, instant debit card funding allows you to access your loan money almost instantly once approved.

Here’s how they compare to other disbursement methods:

Funding Option	Speed	Convenience	Availability
Instant Debit Card Funding	Instant	Very convenient	Available in most locations
Bank Deposit	1-2 business days	Requires bank processing time	Only during banking hours
Cash Pickup	Instant	Must visit a store	Only available in-store

With instant funding to your debit card, you don’t have to wait for traditional bank transfers or worry about store hours.

Answering Your Questions About Instant Debit Card Funding

How long does it take to get a payday loan with instant debit card funding?

Upon approval of your loan application, the cash from your loan will be transferred instantly to your designated debit card. Instant debit card funding allows you to access and use the money immediately for your intended purposes.

Can I use any debit card for instant funding?

Most major Canadian debit cards are accepted. However, some prepaid or virtual cards may not be eligible.

Do I need good credit to qualify for a payday loan?

No, Speedy Cash does not require a credit check to approve customers for payday loans. This makes Speedy Cash loans a viable option for those with less than perfect credit or no credit history who may not qualify for traditional loans from banks or other financial institutions.