Payday loans in Alberta are capped at $14 per $100 borrowed, so a $500 loan costs $70 and a $1,000 loan costs $140, from any licensed lender. Alberta also has the strictest term rules in Canada: a payday loan must run 42 to 62 days and be repaid in instalments, not in one lump sum on your next payday. Money Mart, iCash and Cashco are the main licensed lenders. NotchUp, an earned wage access provider serving Alberta, charges a flat $5 with payroll connected for $50 to $1,500, sent by Interac e-Transfer in about 15 minutes with no credit check.
Key Takeaways
- Alberta’s maximum payday loan cost is $14 per $100, in force since January 1, 2025. Before that it was $15 (from August 2016) and $23 before the 2016 reforms.
- Every Alberta payday loan must have a term of 42 to 62 days, repaid in instalments. Rollovers are banned, and a lender can’t offer you new credit while a payday loan is outstanding.
- You have two business days after signing to cancel a payday loan with no fee.
- Every lender must hold a Service Alberta Payday Loan licence. Check it in the licence lookup before you sign.
- NotchUp sends $50 to $1,500 by Interac e-Transfer in about 15 minutes, 24/7, for $5 with payroll connected. A $1,000 advance costs $5 against $140 at a payday lender. Licensed in BC (#86443).
This article reflects Alberta’s Consumer Protection Act and Payday Loans Regulation as of October 2026. Fees, terms and lender availability can change. Check alberta.ca and each lender’s agreement before you borrow.
$5
Flat fee — same whether you borrow $50 or $1,500
15 min
Interac e-Transfer, available 24/7
0
No credit check, no SIN required
Alberta Payday Loan Rules (2026)
Alberta rewrote its payday rules in 2016 with An Act to End Predatory Lending, and the federal cap lowered the fee again in 2025. The rules today, from alberta.ca and the province’s payday lending tipsheet:
- Maximum cost: $14 per $100, including every fee and charge tied to the loan. A lender can add fees only if you miss a payment.
- Maximum amount: $1,500. Anything over $1,500 isn’t a payday loan under Alberta law.
- Term: 42 to 62 days. This is Alberta’s defining rule. A loan due on your next payday is illegal here. The lender has to spread repayment over at least 42 days, in instalments, and no payment can fall due less than one full banking day after you get paid.
- Two business days to cancel. You can cancel for any reason within two business days of signing, and the lender can’t charge you for it.
- No rollovers. A lender can’t roll what you owe into a new loan, and can’t solicit or sign you up for any other credit while a payday loan is outstanding.
- Licensing. Every lender and every referral broker needs a Payday Loan licence from Service Alberta.
The 42-day minimum is why Alberta payday loans cost less in APR terms than the same loan in BC or Ontario. $14 per $100 over 14 days works out to about 365% APR; over 42 days it’s about 122%. The dollar cost is the same $14, you just get three times as long to repay it. For how Alberta compares, see our payday loans in Canada guide.
Best Payday Loans in Alberta (2026), Compared
Every licensed Alberta lender charges the same $14 per $100, so the differences are speed, whether you want a branch, and how the repayment schedule works. NotchUp (earned wage access) and Bree (cash advance app) aren’t payday lenders and are listed for the comparison.
| Lender | Type | Fee | Max Amount | Speed | Credit Check | Availability |
|---|---|---|---|---|---|---|
| NotchUp | Earned wage access | $5 flat (payroll connected) | Up to $1,500 | About 15 min via Interac e-Transfer, 24/7 | No | All of Alberta (online) |
| iCash | Licensed payday lender | $14 per $100 | Up to $1,500 | E-Transfer in minutes after signing, 24/7 | First-time applicants | Online, Alberta licensed |
| Money Mart | Licensed payday lender | $14 per $100 | Up to $1,500 | Same day online or branch | Yes | Calgary, Edmonton, other branches + online |
| Cashco | Licensed payday lender | $14 per $100 | Up to $1,500 | Same-day / branch | Yes | Edmonton head office, Alberta branches + online |
| Bree | Cash advance app | $0 standard / $2.99 to $45.99 express | Up to $750 | 1 to 3 days standard, minutes express | No | Online |
iCash e-Transfers in as little as 2 minutes after you sign, at any hour. Cashco is the Alberta-based option, headquartered in Edmonton with an Alberta licence. Bree is free if you can wait 1 to 3 business days but charges $2.99 to $45.99 for same-day delivery. For how Bree and the other apps compare in detail, see cash advance apps in Canada.
Real Cost Breakdown: Payday Loans in Alberta
| Loan Amount | Payday Loan Fee (Alberta max) | NotchUp Fee | Savings with NotchUp |
|---|---|---|---|
| $200 | $28 | $5 | $23 |
| $300 | $42 | $5 | $37 |
| $500 | $70 | $5 | $65 |
| $750 | $105 | $5 | $100 |
| $1,000 | $140 | $5 | $135 |
| $1,500 | $210 | $5 | $205 |
The payday fee scales with the amount. NotchUp’s $5 doesn’t, so the gap widens from $23 on $200 to $205 on $1,500. The one thing a payday loan offers that NotchUp doesn’t is time: 42 to 62 days in instalments, against repayment on your next payday with NotchUp. If you can’t repay in full by your next pay date, the instalment structure matters more than the fee. For other routes, see payday loan alternatives in Canada.
Payday Loans in Calgary and Edmonton
The same provincial rules apply in every Alberta city: $14 per $100, 42 to 62 day terms, two days to cancel. Money Mart and Cashco run branches in both Calgary and Edmonton, and iCash serves both online. Our payday loans in Calgary and payday loans in Edmonton guides cover the branch locations and local options in detail.
If a branch trip is the problem, NotchUp’s Interac e-Transfer works the same at 11 p.m. on a Sunday in Red Deer as it does on a weekday in downtown Calgary. For 24/7 options across the province, see same day e-Transfer loans in Alberta.
Is NotchUp Available in Alberta?
Yes. NotchUp is an earned wage access provider, licensed in British Columbia (licence #86443) and regulated by Consumer Protection BC, and serves BC, Alberta and Ontario. It charges a flat $5 with payroll connected on any advance from $50 to $1,500, with no interest on a standard advance. A $500 advance costs $5 and you repay $505 on your next payday. There’s no credit check and no SIN. If a repayment fails, an NSF fee of up to $20 and late interest apply under NotchUp’s terms.
NotchUp accepts any income from work: a job, self-employment, freelance or gig work. AISH, EI, CPP and child tax count alongside work income, not on their own. For a closer look, see Is NotchUp legit?
An advance covers a timing gap between paycheques, not a budget that comes up short every month, and approval is based on your current account activity, so being approved once doesn’t guarantee the next one.
How to Verify a Licensed Payday Lender in Alberta
Search the lender in Service Alberta’s licence lookup before you sign anything. Walk away if you see any of these:
- A fee above $14 per $100, or any fee charged before you get the money
- A loan due on your next payday instead of over 42 to 62 days
- No written agreement, or an agreement without the cost of borrowing stated in dollars
- No Alberta address or phone number
- Pressure to sign in minutes, or a refusal to let you cancel within two business days
- No licence number displayed
Alberta’s Consumer Contact Centre takes complaints at 780-427-4088 in Edmonton or 1-877-427-4088 toll-free, Monday to Friday, 8:15 a.m. to 4:30 p.m. For lenders that skip the credit check across the province, see no credit check loans in Alberta and BC.
Frequently Asked Questions
Are payday loans legal in Alberta?
Yes. Payday loans are legal and regulated under Alberta’s Consumer Protection Act and Payday Loans Regulation. Lenders must hold a Service Alberta licence, charge no more than $14 per $100, lend no more than $1,500 and set a term of 42 to 62 days.
What’s the maximum payday loan in Alberta?
$1,500. That’s the legal ceiling for any payday loan in Alberta. Lenders set your individual limit on your income and bank history, and many cap first loans well below $1,500. NotchUp’s advances also top out at $1,500.
How long do I have to repay a payday loan in Alberta?
Between 42 and 62 days, in instalments. Alberta is the only province with this minimum term; elsewhere a payday loan is usually due in full on your next payday. No instalment can fall due less than one full banking day after you receive your pay. You can repay early with no penalty.
Can I cancel a payday loan in Alberta?
Yes. You have two business days after signing to cancel for any reason, and the lender can’t charge a fee for it. Return the money and you owe nothing. After two business days you’re bound by the agreement.
Can I get a payday loan in Alberta with bad credit?
Yes. Alberta payday lenders approve on income and banking history, and most accept bad credit, though Cashco run a credit check and iCash checks first-time applicants. NotchUp runs no credit check at all. For more, see cash advance for bad credit in Canada.
Can I get online payday loans in Alberta with e-Transfer?
Yes. iCash e-Transfers in as little as 2 minutes after you sign, at any hour. Money Mart and Cashco offer online applications with e-Transfer alongside their branches. NotchUp sends every advance by Interac e-Transfer in about 15 minutes, 24/7, for $5 with payroll connected. For the province-wide list, see same day e-Transfer loans in Alberta.
Can I get a payday loan on AISH in Alberta?
Most Alberta payday lenders accept AISH as income at $14 per $100. NotchUp works with AISH only alongside income from work, not as the sole income. Bree considers all regular deposits, including AISH, subject to deposit history. Our AISH loans in Alberta and disability loans in Alberta guides cover every option.
What’s the difference between a payday loan and a NotchUp advance in Alberta?
A payday loan is a regulated short-term loan. A NotchUp advance is earned wage access, an advance on pay you’ve already earned, and the cost and repayment work differently. An Alberta payday loan costs $14 per $100 and is repaid over 42 to 62 days in instalments. A NotchUp advance costs a flat $5 with payroll connected and is repaid in full on your next payday. On $1,000 that’s $140 against $5. The payday loan gives you more time; NotchUp costs less.
This article is for informational purposes only and doesn’t replace professional financial advice. If you’re having trouble managing debt or need help with a financial plan, consider contacting a licensed insolvency trustee or a non-profit credit counselling agency for free, confidential support. For a complaint about an Alberta payday lender, contact the Consumer Contact Centre at 1-877-427-4088.
Related reading: Payday loans in Canada — the national guide | Payday loans in BC — same $14/100 cap | No credit check loans in Alberta and BC | Payday loan alternatives in Canada | E-Transfer loans Canada 24/7 | Cash advance apps in Canada
