e-Transfer® Payday Loans- Why Canadian Love It?

Those days are gone when you head down to the storefront payday lenders to get a payday loan- now it’s the 21st century, and all be done from the comfort of your home. Thanks to the internet and modern peer-to-peer (P2P) online lending to qualify for e transfer payday loans.

Online payday loans are designed to cover financial emergencies without wasting time in application and approval. According to a stats report from Canada.ca, there are approx. Two million Canadians 🇨🇦 use payday loans each year.

Payday loans are popular because they provide fast cash and are available at lenient terms. To add convenience and speed, payday lenders now include interac e-Transfer® with it and offer a new service known as e Transfer payday loans.

😀 Rejoice because PaydayMart tries to answer the question, ‘why are e-transfer payday loans in high demand in Canada?’.

What does Interac e-Transfer® means?

First, e-transfer, also known as email money transfer (EMT), was introduced in 2002 in Canada. Because sending and receiving money through e-transfer is much easier, faster, and more secure, this payment method remains popular among Canadians.

Interac e-Transfer®, a.k.a. email money transfer (EMT), transfers money electronically between two bank accounts using email and online banking services. With interac e-Transfer®, you can send, receive, and withdraw cash 24/7 using your phone or laptop.

What is the difference between bank transfer and e-Transfer®?

Bank transfer also denoted as Electronic Funds Transfers (EFT), offer more significant value money transfer limits and moves money from one bank account to another. Usually, EFT takes 1-2 business days for full settlement.

On the other hand, interac e-Transfer® available in Canada and offers the fastest ways to send and receive money, typically within 30 seconds. Unlike EFT, money sent through e-Transfer is available to use within seconds. Once the recipient receives the email or text message and accepts it, the funds are automatically credited to the recipient’s bank account.

Compared to EFT, the major drawback of interac e-Transfer® is the lower limit of money transactions. Most Canadian banks permit only $3,000 per day, which might not be ideal when you want to transfer more significant sums of money.

You can get complete information about the interac e-Transfer® facility at its official website here.

Are e-transfer loans being really instant?

Yes, interac e-Transfer® loans are indeed instant. If we take the example of payday loans, once your loan is approved and you choose interac e-Transfer® as a payment method, you could receive money in 30 seconds. ⏰

Due to modern technology blended with financial services, it is now possible to get money in seconds. No need to leave the comfort of your couch; use your smartphone or laptop, apply for online instant e-transfer® loans (aka email money transfer loans (EMT)), and get money directly in your bank account within seconds.

The best use of e-transfer payday loans in Canada is during urgent financial emergencies when you need quick cash to cover them all.

What are some advantages of e-transfer payday loans?

As we know, at the time of financial emergencies, nothing credit options beat payday loans. In Canada, many direct lenders offer the fastest e-Transfer payday loans in Canada 24/7 with no documents; PaydayMart helps you to find them all.

Instant e-transfer payday loans are same-day and short-term loans that give you a small cash advance until your next payday. The plus point of such payday loans is that you can apply online and get your funds within 30 seconds. All because of the interac e-Transfer® payment mode.

Here are some other advantages of e-transfer payday loans in Canada are:

• Convenience: Instant e-transfer payday loans are online and provide quick cash. They allow the applicants to apply from the comfort of their homes whenever they have time. You can start applying while watching TV or on a yoga mat.
• Modern Technology: When you apply for payday loans supported by e-transfer, you can take advantage of new technology and developments. Banks in Canada offer Interact e-Transfer® that leverages the customers to get money in seconds and pay it back quickly.
• Available 24/7: You can apply anytime and any day of the year, even on holidays, to get 24/7 e-Transfer payday loans.
• Bad Credit? No Problem: Even if your credit score is unfavorable, you can still have a chance to qualify for e-transfer payday loans with a bad credit profile. Unlike bank loans, where you need a good credit score to get loan approval, with e-transfer loans, your credit score is not the only deciding factor for loan approval.

The Bottom Line

Millions of Canadians enjoy payday loans because they provide easy and fast cash. When Interac e-Transfer® mixed with payday loans, it becomes faster and more convenient to get funded, even in a few seconds.

It is why e-transfer payday loans have become popular and in high demand among Canadians. Instant e-transfer loans have many advantages, like convenience, speed, and lousy credit acceptance. So, if you want to borrow money without waiting, consider applying for online e-transfer payday loans in Canada. 👋