Frequently Asked Questions (FAQs)
Loan Application Questions
What Information Should I Need To Provide For A Loan Through Whizz?
The application requires some of your basic personal information such as your valid address, income/benefit proof and a bank account that accept electronic transfers. You can easily upload and verify online these documents through our website without faxing.
How Much Can I Borrow, How Much I Have To Pay Back And How Much It Cost To Me?
It all depends upon your eligibility and other approval criteria. You can easily evaluate your loan amount, duration and loan pricing before completing your application.
How Should I Get My Loan Application?
Once you know how much money you need, hit the button mentioning "APPLY NOW" and continue the process of loan application for the next step.
Why You Need My Information Of Income Or Benefits?
It is compulsory by law and as a responsible lender; we need to verify your source of income. We can accept these documents through our website by uploading it.
What Kind Of Bank Account Is Required To Apply For A Loan?
To apply at Whizz Payday Loans, you need to have a valid bank account that accepts electronic fund transfer.
Application Help Questions
If I Fully Repaid My Whizz Loan And Would Like To Apply For A New One, Can I Apply For It Immediately Or Need To Wait?
Once you fully repay your loan and the funds have been debited from your bank account, you need to wait for 2-3 days before applying for a new loan from Whizz.
I Got Loan Approval But Never Received Money Due To My Incorrect Bank Information. What Now?
If this happens, you will receive an email from us mentioning that, due to your incorrect banking information, we unable to deposit the funds into your bank account. We respect our applicant's security and privacy and that's why can't modify your banking information again.
When Can I Reapply For A Loan?
Once you fully repay your current loan, you are eligible to apply for a bigger amount loan from us.
How Much Can I Borrow?
You can start your first loan by borrowing money from C$100 up to C$1500. As you built trust with us, you can borrow a bigger amount of loan up to C$5000.
How Quickly Can I Receive My Funds?
Whizz is partners with most reputed and trustworthy Canadian lenders that use the fastest tools available in the market to ensure quickest fund transfer. Once your loan application is approved by our lenders, we'll send you a confirmation email and your funds will be transferred into your bank account within 15 minutes.
Paying Back Your Loan
How Does Automatic Repayment Work?
To make the loan repayment easy and convenient for our customers, we'll debit the amount from the same bank account that you mentioned. We may send you text or email regarding our money withdrawal process.Automatic repayment method is good for the borrowers because they can repay loan amount easily without compromising with their monthly budget.
Can I Payback My Loan Earlier?
Yes, we appreciate this! There is no need to pay additional fees or penalty.
I Can't Able To Make My Loan Payment On Time. What I Do Now?
If you feeling difficulty to repay your current loan amount, we'll help you and suggest an extension of your loan repayment tenure!
Will Paying Late Can Hurt My Credit Score?
If you are late paying your loan only once, it will not be reported to the traditional credit bureaus. Some installment loans reporting directly to the credit bureaus and negatively affect your credit score, if you are making late payments, be beware.
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