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Instant Bank Verification (IBV)
The secure technology that replaces pay stubs, bank statements and credit checks.
Home › Instant Bank Verification (IBV)
The secure technology that replaces pay stubs, bank statements and credit checks.
Instant Bank Verification (IBV) is a system used by financial institutions across Canada that securely confirms your income directly from your banking history, in a matter of minutes.
In practice: you are taken to a secure page, you log in to your bank through that page, and a read-only summary of your transactions is generated. That's it.
"Your credentials stay between you and your bank. Only a read-only summary is shared."
IBV allows a fair and fast decision based on your real situation rather than a credit score that tells the past. It is also what makes the process 100% online and paperwork-free.
Rates & disclosures
Required information about our loans so you can make an informed decision, before you apply.
Our maximum annual interest rate is 19.99%. In the event of non-payment, the applicable rate on the overdue amount is 1.67% per month.
Loans are repayable over a minimum of 61 days and a maximum of 6 months. You can make a full or partial repayment at any time, with no penalty.
| Loan amount | $500 CAD |
|---|---|
| Annual interest rate | 19.99% |
| Term | 90 days |
| Total repayable | $524.65 CAD |
| Payments | $174.88 / month, for 3 months |
A $500 loan may be paired with optional services, which are entirely optional. Subscribing to these services is not required to obtain the loan and has no effect on the credit decision or loan terms. If you choose to opt in, optional service fees may apply and are payable bi-weekly over 6 installments, separately from loan principal and interest. Example: a payment of $145.59 bi-weekly, for a total of $873.54, including optional service fees. Optional services are provided by a separate entity, which sets its own fees independently of loan interest.