Frequently Asked Questions (FAQs)
Need a little financial boost? Unexpected expenses throwing you off balance? Take a breather and trust Pret express.
You won't be judged based on your poor credit history or the reason for your loan. We're here to help you overcome your financial challenges.
Get a loan now1. What are the admission requirements?
- Be 18 years of age or older
- Be a Canadian citizen
- Have been employed for at least one month
- Earn a minimum net monthly income of $1,000
- Not be bankrupt and not discharged from their debts, nor be on the verge of bankruptcy
2. How to apply?
Our online loan approval process requires no paper documents. You can also sign your contract electronically. It's a simple, fast, and secure way to apply for your loan.
3. Can you see my access code and password?
No. We will never see your access code and password. They are securely and automatically transmitted to your financial institution. Once they have verified your login information, we will receive a copy of your bank statement, which will allow us to assess your loan application.
4. How can I be sure this isn't a way to obtain my personal information?
We understand your hesitation. Our system was specifically created to simplify the loan application process. It operates according to the highest security standards, the same ones used by banking institutions.
5. What will you do with my information?
Your information will be securely transferred directly to your financial institution for verification purposes. We will receive a copy of your bank statement for the past 90 days. Your personal information will not be displayed or stored.
6. Paper Application
You can also apply online or by phone in complete confidentiality.
Have the following four documents ready:
- Proof of identity (photocopy of your driver's license, health insurance card, or passport)
- A voided check (or a direct debit authorization form from your financial institution)
- Your most recent pay stub
- A bank statement for the last 30 days
Then, complete our online form and submit it.
7.When can I renew my loan?
You are eligible for loan renewal when your balance is less than $150.
8. What factors could invalidate my application?
- Unstable employment
- Multiple NSF (non-sufficient funds) payments in your bank account
- Unsatisfied consumer proposal
- Incomplete form or inaccurate information
- Undischarged bankruptcy
- Excessive short-term debt level
9. How soon can I expect to receive my loan?
If your application has been approved and the contract is signed and returned before 10:30 a.m., you will receive your funds before the end of the day. Otherwise, please allow 24 business hours for the funds to be deposited into your account.
10. What are your interest rates and service fees?
The lending companies we work with offer an approximate annual interest rate of 28% to 32%. A guarantee fee is added when you obtain your loan.
11. What happens in the event of a payment default or non-cooperation?
The debt will be sent to collection. The applicable interest rate is 2.66% per month, or 32% annually.
In addition, a $40 fee will be charged at the end of your contract if a payment is refused due to insufficient funds or other reasons. However, please note that you can defer a payment for a $25 administrative fee.
12. Is a self-employed worker eligible for a loan?
No, self-employed workers are not eligible. To be eligible, you must have your salary deposited directly into your account. We accept individuals receiving benefits from the CSST (Workers' Compensation Board), Employment Insurance, Disability Insurance, and Pension Plans.
13. Where can I find a fax machine?
In some companies, fax machines are available for employees. Check with your employer if needed. In addition, various public places offer access to this machine. Here are a few examples:
- Bookstores
- Pharmacies
- Post offices
- Staples
- Copy centers