Money Mart charges $14 for every $100 you borrow, the federal maximum for payday loans in Canada since January 1, 2025. A $500 payday loan costs $70. A $1,500 loan costs $210. The cheapest same-day alternative for employed Canadians is earned wage access through NotchUp, which charges a flat $5 on any advance up to $1,500 regardless of the amount. This guide compares six real alternatives by cost, speed, and eligibility so you can pick the one that fits.
Key Takeaways
- Money Mart charges $14 per $100 borrowed, the federal cap on payday loans across all Canadian provinces since January 1, 2025. A $500 loan costs $70.
- NotchUp advances up to $1,500 for a flat $5 fee with funds in about 15 minutes via Interac e-Transfer. No credit check, no SIN required. A $500 advance costs $5, saving $65 over Money Mart.
- Bree advances up to $750 for free on the standard tier, but delivery takes 1 to 3 business days and requires steady employment income with recurring direct-deposit paycheques.
- iCash is an online payday lender operating in seven provinces at the same $14/$100 rate as Money Mart, useful when there’s no branch nearby.
- If you’re regularly borrowing to cover the same shortfall, a non-profit credit counselling agency can help you look at the full picture for free.
This article reflects Canadian payday lending regulations and cash advance app pricing as of September 2026. The $14 per $100 federal cap took effect January 1, 2025 under the Budget Implementation Act, 2024, No. 1. Fees, advance limits, and eligibility criteria can change. Check each provider’s website for current terms before applying.
$5
Flat fee, any amount
15 min
Via Interac e-Transfer
0
No credit check required
How Much Does Money Mart Actually Cost?
Money Mart’s fee structure is straightforward: $14 per $100 borrowed, due in full on your next payday. This is the same rate charged by every licensed payday lender in Canada, because $14 per $100 is the federal ceiling that replaced the old provincial patchwork on January 1, 2025. Here’s what that looks like in dollar terms, compared to NotchUp’s $5 flat fee:
| Amount Borrowed | Money Mart Fee | NotchUp Fee | You Save |
|---|---|---|---|
| $200 | $28 | $5 | $23 |
| $500 | $70 | $5 | $65 |
| $800 | $112 | $5 | $107 |
| $1,500 | $210 | $5 | $205 |
NotchUp is only available to Canadians who receive regular income deposits. If you qualify, the cost difference isn’t marginal. Saving $65 to $205 on a single advance is real money, especially when the reason you needed the advance was a cash-flow shortfall in the first place.
Money Mart is a licensed lender following the rules. But the rules allow fees that are extremely high, and cheaper options exist for most Canadians who qualify for them. The comparisons below are honest: some require employment income, some have lower limits, and some take longer to process. The right option depends on your situation.
Key Takeaway
If you are employed and receive a direct deposit paycheque, NotchUp is the lowest-cost option in Canada for a short-term cash advance. The $5 flat fee applies regardless of how much you borrow, up to $1,500. Money Mart charges $14 per $100, which means the more you need, the larger the cost gap becomes.
1. NotchUp: $5 Flat Fee, About 15 Minutes, 24/7
NotchUp is an earned wage access app, not a traditional lender. You’re accessing wages you’ve already earned before payday. The fee is $5 per advance regardless of amount, up to $1,500. A $500 advance costs $5, total repayment $505. Funds arrive via Interac e-Transfer in about 15 minutes, 24 hours a day, seven days a week including weekends and holidays. NotchUp is regulated under BC licence #86443 by Consumer Protection BC.
There’s no credit check and no SIN required. NotchUp accepts employment income, and also works with EI, CPP, and ODSP alongside employment income. It’s available in Ontario, British Columbia, Alberta, Manitoba, and Saskatchewan. It’s not available in Quebec. For a full breakdown of how the service works, see our NotchUp review.
The eligibility requirements: 18 or older, Canadian resident with a Canadian bank account, regular income with direct deposit, and an active bank account not chronically in overdraft.
An advance covers a timing gap. It isn’t a solution for ongoing budget shortfalls, and approval is based on current account activity, so past approval doesn’t guarantee the next one.
2. Bree: Free for Employed Canadians Who Can Wait
Bree is a Canadian cash advance app with a free standard tier. On the free plan, advances of up to $750 arrive within 1 to 3 business days. There’s no fee for standard delivery. If you need the money the same day, Bree charges an express delivery fee.
Bree requires employment income with recurring direct-deposit paycheques. It connects to your bank account and reviews your direct deposit history to determine your advance limit. There’s no credit check. Gig income, EI, and disability benefits don’t qualify.
Bree is the right option when you’re employed, you need under $750, and you can wait 1 to 3 business days. If you’re facing a same-day emergency, the express fee applies, and you should compare that cost to NotchUp’s $5 flat fee before deciding. For a detailed comparison of the two, see our Bree vs Nyble breakdown.
3. iCash: Online Payday Lending at the Same Rate
iCash is a licensed online payday lender operating in Ontario, British Columbia, Alberta, Manitoba, New Brunswick, Nova Scotia, and Prince Edward Island. It’s not cheaper than Money Mart. iCash also charges $14 per $100 borrowed, the same rate, because both operate under the same federal payday lending regulations.
The reason iCash appears on this list is practical: it’s online only, which means no branch visit, faster application, and availability outside Money Mart’s physical footprint. If you live somewhere without a Money Mart branch, iCash provides the same product with a digital process. For a full comparison, see our iCash review.
iCash is worth considering when you need a payday loan and don’t qualify for earned wage access products like NotchUp or Bree, you want to avoid a physical branch, or you need to apply outside of branch hours. The cost is identical to Money Mart. For more payday loan alternatives across Canada, see our payday loan alternatives guide.
4. Credit Union Emergency Loans
Many credit unions in Canada offer short-term emergency loans or member loans at rates far below what payday lenders charge. While payday lenders charge the equivalent of 365% annualized, credit union personal loans typically carry annual interest rates well below the 35% criminal rate.
A few examples: Meridian Credit Union in Ontario offers personal loans with competitive rates for members. Vancity in British Columbia has offered its Fair and Fast Loan program as a payday loan alternative. Servus Credit Union in Alberta has short-term personal loans for members with flexible repayment.
The main requirements: you need to be a member, which usually means opening an account (often just a small deposit). Some credit unions also consider your overall banking relationship rather than just your credit score when evaluating applications.
Credit union loans are the right option when you’re not in a same-day emergency, you have a few days to apply and get approved, and you want to borrow at a much lower cost with a repayment schedule that spreads payments over time. They’re not a same-day solution, but for any non-urgent shortfall, the interest savings compared to a payday loan are substantial.
5. Ask Your Employer for a Pay Advance
Requesting a pay advance directly from your employer is legal in every province in Canada. Many HR systems and payroll platforms support it with minimal administrative work. The cost is zero: no interest, no fee, and no third party involved.
This option requires a working relationship with your employer and some willingness to have the conversation. Many people feel awkward asking, but employers generally prefer this to an employee dealing with financial stress that affects their work. The repayment comes from your next paycheque, and the amount is up to what you and your employer agree on.
Employer pay advances work for any income amount, including amounts above what NotchUp or Bree advance. If you need $2,000 for a car repair and you earn that in two weeks, your employer is the only option other than a bank loan that can realistically cover that at no cost. For advice on how to approach the conversation, see our guide to asking your employer for a pay advance.
6. Non-Profit Credit Counselling (When It’s a Debt Problem)
Not every cash-flow problem is a timing problem. If you’re regularly short before payday because of debt payments, or if you’re considering a payday loan to pay off another loan, the underlying issue may be debt load rather than cash-flow timing. In that case, a payday loan doesn’t solve the problem. It adds a new fee on top of the existing pressure.
Non-profit credit counselling organizations offer free assessments and, where appropriate, debt management plans that consolidate payments and negotiate with creditors on your behalf. Credit Counselling Canada maintains a directory of accredited agencies across the country.
These services don’t advance money. They help you restructure what you owe. If you’ve used payday loans repeatedly and the fees are adding to the problem rather than solving it, a credit counsellor can help you build a plan to exit the cycle without taking on more high-cost debt. For a step-by-step approach, see our guide on how to get out of debt on a low income.
How to Choose the Right Option
The right alternative depends on three things: whether you’re employed with direct deposit, how quickly you need the money, and what amount you need.
| Your situation | Best option | Why |
| Employed, need money today, want lowest fee | NotchUp | $5 flat, funds in 15 min, up to $1,500 |
| Employed, need under $750, can wait 1 to 3 days | Bree (free tier) | Zero cost for standard delivery |
| Not employed or no direct deposit, need money today | iCash or Money Mart | Same cost at $14/100; iCash is online |
| Have a few days, want lower rate with repayment plan | Credit union | Much lower APR than 365% annualized |
| Good relationship with employer | Employer pay advance | Zero cost, any amount |
| Taking payday loans to manage existing debt | Credit counsellor | Free counselling, stops the cycle |
For a broader comparison of Canadian cash advance options, see our cash advance apps guide.
Frequently Asked Questions
Is there a cheaper alternative to Money Mart in Canada?
Yes. For Canadians with regular income and direct deposit, NotchUp charges $5 per advance regardless of amount, up to $1,500. Money Mart charges $14 per $100 borrowed, so a $500 advance costs $70 at Money Mart versus $5 at NotchUp. Bree offers free standard advances up to $750 with a 1 to 3 business day wait. Credit unions offer emergency loans at rates well below the 365% annualized equivalent of a payday loan if you have a few days to apply.
What does Money Mart charge for a payday loan in Canada?
Money Mart charges $14 per $100 borrowed, the maximum permitted under federal payday lending regulations since January 1, 2025. A $300 advance costs $42, a $500 advance costs $70, and a $1,000 advance costs $140. The fee is due in full on your next payday along with the full principal.
Does NotchUp work like Money Mart?
Both give you cash before your next payday, but they’re built differently. Money Mart is a payday lender: you borrow money and repay it with a fee. NotchUp is earned wage access (BC licence #86443): you advance wages you’ve already earned, repaid from your next deposit. NotchUp charges $5 flat regardless of amount. Money Mart charges $14 per $100. On a $500 advance, that’s $5 versus $70.
Can I use a cash advance app instead of Money Mart?
Yes, if you have regular income with a direct deposit paycheque. NotchUp charges $5 per advance up to $1,500. Bree charges nothing on its free standard tier up to $750. Both require employment income and Canadian bank accounts. Neither requires a credit check. If you don’t have employment income or direct deposit, these apps won’t approve you, and a licensed payday lender becomes the relevant option.
What if I don’t qualify for earned wage access?
If you don’t have regular income or direct deposit, NotchUp and Bree won’t work for you. Licensed payday lenders like Money Mart or iCash are available at $14 per $100. A credit union emergency loan is worth exploring if you have a few days, as rates run well below the 365% annualized equivalent a payday loan charges.
Is Money Mart available in Quebec?
No. Quebec’s consumer protection regulations effectively prevent payday lenders from operating there. NotchUp is also unavailable in Quebec. If you’re in Quebec and need a short-term advance, credit union loans and employer pay advances are the most practical options.
Can I get a Money Mart loan with no credit check?
Money Mart typically doesn’t run a traditional hard credit check for payday loans, though it does verify your income and bank account. NotchUp also runs no credit check and requires no SIN. The difference is cost: Money Mart charges $14 per $100, while NotchUp charges a flat $5 on any amount up to $1,500.
How much can I borrow from Money Mart?
Money Mart’s payday loan amounts vary by your income, but loans are generally capped at 50% of your net pay for the pay period under federal regulations. NotchUp advances up to $1,500, and Bree up to $750. Both charge significantly less than Money Mart at any amount. For a complete rundown of dollar-amount options, see our $500 same-day loan guide or our $1,500 loan guide.
This article is for informational purposes only and doesn’t constitute professional financial advice. If you’re borrowing regularly to cover recurring shortfalls, a non-profit credit counselling agency can help you assess your options for free.
Related Reading
Related reading: Cash Advance Apps Canada | Early Wage Access Apps Canada | Payday Loan Alternatives Canada | Payday Loans Ontario
