MyCanadaPayday is an app that has become popular with respect to providing credit facilities. I was wondering if all the talk about the app was just empty hype and so decided to try the app out. Based on my experience I have chronicled my review of the application below. I downloaded the app from the App Store into my iPhone. The app was free for downloading and does not charge you any fee with this regard. It is also available for Android phones and iPads. This kind of flexibility is a nice option to have and allows for all types of users to access this app.

Once downloaded, I found the login/signup page to be simple and easy to understand. The navigation between pages is user friendly. The app does not ask for too many details. Basic user information is required to be entered in the app. This information is verified with the public database to verify the authenticity of the customer. Once the sign-up process is done, users can log in using their email id and password. You do not have to enter your personal details every time you use the app. It is enough if you enter it once.

I then navigated to the loan page. You will have to fill in the bank account details and then apply for the loan. The loan application was processed within a few hours. I received the contract which I had to accept. This contract detailed the payment terms and installments to be paid on a monthly basis. Within a few minutes of accepting the contract, I received the money in the bank account. The transfer of the amount is done using Interac e-Transfer. It works 24/7 and so you will be able to receive the funds instantly any time of the day.

I was curious about a couple of more things. After a month, I wanted to see if could close the loan early. I contacted the customer service center and they were very friendly and helpful. The support officer helped me close the loan by paying it early. There were no penalty charges for this. This feature of preclosure of the loan is a nice touch to the application. I also got a couple of doubts clarified with the representative. It is indeed possible to increase the loan amount at a later date provided the total loan is below 50% of your paycheck.

Worth Having App – Download the App