Payday Loan Plus Review (2026): Costs, Catches, Alternatives
If you’re short before payday and searching for fast cash online, you’ve probably run into Payday Loan Plus (paydayloanplus.ca). It promises loans from $50 to $1,500, funding in about an hour, and approval even if you’re on government benefits. That sounds like exactly what you need when rent is due tomorrow. Before you hand over your banking details though, it’s worth slowing down for a few minutes.
This is an honest review. We walk through what Payday Loan Plus actually offers, what it costs (and what it doesn’t tell you), the risk of borrowing against your benefits, and a cheaper way to cover the same gap. NotchUp competes with payday lenders, so read this with that in mind, but everything below is checkable and we flag clearly where the facts run out.
$5
Flat fee, any amount
15 min
Via Interac e-Transfer
0
No credit check required
What Is Payday Loan Plus?
Payday Loan Plus is a Canadian payday loan website that presents itself as a direct lender. Based on what it publishes on paydayloanplus.ca, here’s the basic shape of the product:
- Loan amounts: $50 to $1,500.
- Term: 3 to 62 days, which is a bit longer than a typical single payday cycle.
- Funding speed: claimed at about one hour after approval.
- Income accepted: employment income, and also government income such as CPP, EI, and the Canada Child Benefit (Child Tax Credit).
- Availability: the site says it is “not available in all provinces,” without a clear list.
On the surface this looks similar to other online payday products we have reviewed, like LoanExpress and LendDirect. The willingness to lend against government benefits is the part that stands out, and we will come back to why that matters.
What It Actually Costs
Here’s the honest part: we can’t tell you exactly what Payday Loan Plus charges, because it doesn’t clearly publish its fees or its APR in any public source we could find. That’s the single biggest issue with this lender, and it’s the reason we can’t simply call it a good deal or a bad one.
What we can tell you is the law. As of 2026, payday lending in Canada is capped at $14 per $100 borrowed nationwide. So if Payday Loan Plus is licensed and charges the legal maximum, a $500 loan would cost about $70 in fees. Over a short term like 14 days, that works out to roughly 365% APR. That’s the ceiling, not a quoted price. The real number could be lower, but without a published rate card you’re agreeing before you know.
There’s a second gap. We couldn’t find a provincial payday lending licence number or a corporate registration for Payday Loan Plus in any public source. Licensed payday lenders in provinces like Ontario, Alberta, and British Columbia are normally required to display a licence and a full cost-of-borrowing disclosure. The absence of that information in plain sight doesn’t prove anything on its own, but it’s a real reason to be careful. Before applying, confirm the licence and the exact total cost in writing for yourself.
The Catch With Borrowing Against Benefits
Payday Loan Plus accepting CPP, EI, and the Canada Child Benefit as qualifying income may feel like a relief if you’ve been turned down elsewhere. It’s also the part you should think hardest about.
Benefit income is usually fixed and tightly budgeted. There’s no overtime to pick up and no raise coming next month. When a payday loan fee comes out of your next EI or CPP deposit, the money that was meant for groceries and rent is now smaller, which is exactly the situation that pushes people into a second loan to cover the hole left by the first. That cycle is the well-known trap of high-cost short-term credit, and it hits hardest when income is fixed.
None of this means a short-term advance is always the wrong choice. It means the cost matters more, not less, when you’re borrowing against benefits, and a lender that won’t show you the cost up front is one to approach carefully.
Key Takeaway
Payday Loan Plus offers $50 to $1,500, but it does not publicly publish its fees, APR, or a visible payday licence. If it charges the legal maximum, $500 would cost about $70. Confirm the licence and the exact cost in writing before you apply.
Payday Loan Plus vs NotchUp
NotchUp isn’t a payday loan. It’s earned wage access (EWA): you take an advance on income you’ve already earned, for a flat fee, with no interest and no APR. Here’s a fair side-by-side on a $500 advance.
| Feature | Payday Loan Plus | NotchUp |
|---|---|---|
| Cost on $500 | Not published; up to about $70 if it charges the legal max | $5 flat fee |
| Speed | About 1 hour (claimed) | About 15 minutes via Interac e-Transfer |
| Credit check | Varies; not clearly disclosed | No credit check |
| Cost transparency | Fees and APR not clearly published | One flat $5 fee, shown up front |
| Income accepted | Employment plus government benefits | Employment, freelance, EI, CPP, ODSP (with employment income) |
| Product type | Payday loan with interest | Earned wage access, not a loan |
The headline difference is the fee. A flat $5 covers any advance from $50 to $1,500, so a $500 advance from NotchUp costs $5, not the up-to-$70 a payday loan at the legal cap would. NotchUp is available in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan (not Quebec), with no credit check and no SIN required.
Cheaper Alternatives
If your goal is to bridge a few days until you get paid, you’ve got options that cost a fraction of a payday loan.
- NotchUp advances $50 to $1,500 for a flat $5 fee, with money by Interac e-Transfer in about 15 minutes, 24/7.
- Other cash advance apps like Bree (up to $750) and Nyble (up to $250) work for smaller amounts. See our roundup of cash advance apps in Canada.
- Non-loan moves such as asking a biller for a short extension, or using a 0% promo. Our guide to payday loan alternatives in Canada covers more.
For background on how the math works and why fees add up so fast, read our explainer on payday loans in Canada.
Frequently Asked Questions
Is Payday Loan Plus legit and safe?
Payday Loan Plus presents itself as a real Canadian direct lender offering payday loans. We couldn’t, however, verify a provincial payday licence number or corporate registration in public sources, and it doesn’t clearly publish its fees. That doesn’t prove it’s unsafe, but it does mean you should confirm the licence and full cost-of-borrowing disclosure in writing before sharing your banking details.
How much does Payday Loan Plus cost?
It doesn’t publicly publish its fees or APR, so we can’t quote an exact figure. By law, payday loans in Canada are capped at $14 per $100 as of 2026. If Payday Loan Plus is licensed and charges the maximum, a $500 loan would cost about $70 in fees. Ask for the exact total before you sign anything.
Does Payday Loan Plus do a credit check?
That’s not clearly disclosed on the site. Many online payday lenders run at least a soft check or verify your bank activity. If avoiding a credit check matters to you, NotchUp doesn’t run one at all.
How fast is funding?
Payday Loan Plus claims funding in about one hour after approval. For comparison, NotchUp sends funds by Interac e-Transfer in about 15 minutes, around the clock.
What is a cheaper alternative?
For most people who need to bridge to payday, NotchUp is the cheapest route: a flat $5 fee for any advance from $50 to $1,500, versus up to $70 on a $500 payday loan at the legal cap. It’s earned wage access, not a loan, with no credit check and no SIN required in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan.
