Money Mart charges $14 for every $100 you borrow, the legal maximum in Ontario, British Columbia, and Alberta. 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 6 real alternatives by cost, speed, and eligibility so you can pick the one that fits.
Money Mart is the largest payday lender in Canada, with physical branches and an online application process. It’s not a scam. It’s 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.
$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 most payday lenders in Ontario, British Columbia, and Alberta, because it’s the legal ceiling in those provinces (Government of Ontario, Consumer Protection BC, Service Alberta). 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 a meaningful amount of money, especially when the reason you needed the advance was a cash-flow shortfall in the first place.
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 vs $14 per $100
NotchUp is an earned wage access app, licensed in BC (licence #86443) and regulated by Consumer Protection BC. You connect your bank account, verify your income, and request an advance on wages you’ve already earned. 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, 7 days a week including weekends and holidays.
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.
The eligibility requirements are: 18 or older, Canadian resident with a Canadian bank account, regular income with direct deposit, and an active bank account not chronically in overdraft.
One thing to be clear about: 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.
For a full breakdown of how earned wage access works in Canada, see our guide to early wage access apps in Canada.
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. It connects to your bank account and reviews your direct deposit history to determine your advance limit. There’s no credit check.
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 non-urgent shortfalls earlier in the pay cycle, Bree’s free tier is genuinely a zero-cost option.
3. iCash: Online Payday Lending at the Same Rate
iCash is a licensed online payday lender operating in Ontario, British Columbia, Alberta, Manitoba, and New Brunswick. It’s not cheaper than Money Mart. iCash also charges $14 per $100 borrowed, the same rate, because both operate under the same provincial 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.
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 a broader look at how payday loan options compare across Canada, see our guide to payday loan alternatives in Canada.
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 of 10% to 18%.
A few examples: Meridian Credit Union in Ontario offers personal loans with competitive rates for members. Vancity in British Columbia runs its Fair and Fast Loan program, designed specifically 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. There’s 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 on how to ask your employer for a pay advance in Canada.
6. Non-Profit Credit Counselling (If It Is 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 Canada offers free counselling across Canada by phone and online. Consolidated Credit Canada provides free debt assessments and management plans, and negotiates reduced interest with creditors.
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.
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. Here’s a quick decision guide.
| 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 1-3 days | Bree (free tier) | Zero cost for standard delivery |
| Not employed / 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 | 10-18% APR vs 365% annualized |
| Good relationship with employer | Employer pay advance | Zero cost, any amount |
| Taking payday loans to manage existing debt | Credit Canada / Consolidated Credit | Free counselling, stops the cycle |
For a broader view of the Canadian cash advance landscape, see our complete comparison of cash advance apps in Canada.
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, 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 10% to 18% APR if you have a few days to apply.
What is Money Mart’s fee in Ontario, BC, and Alberta?
Money Mart charges $14 per $100 borrowed in Ontario, British Columbia, and Alberta, the maximum permitted under provincial payday lending regulations. 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 be able to 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 10% to 18% APR instead of the 365% equivalent a payday loan charges.
Is Money Mart available in Quebec?
No. Quebec’s consumer protection regulations cap the cost of credit more strictly than other provinces, which effectively prevents 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 province and your income, but loans are generally capped at 50% of your net pay for the pay period under provincial regulations. NotchUp advances up to $1,500, and Bree up to $750. Both charge significantly less than Money Mart at any amount.
Related Reading
Related reading: Cash Advance Apps Canada | Early Wage Access Apps Canada | Payday Loan Alternatives Canada | Payday Loans Ontario
