$500 is one amount inside Alter Cash’s $250 to $1,500 range. Request it when the expense itself is near $500, not because $500 is a round number. You repay over 61 to 120 days, bi-weekly or monthly. Submitting a request is only the first step. An application is not an offer.
If an offer is approved, accepted, and signed, funds are sent by Interac e-Transfer the same day, with no transfer fee. Verification is IBV (bank), not a credit-bureau pull. The online form includes $500 among the selectable amounts.
Write down the exact cost you need to cover. A repair estimate, an overdue bill, or a necessary purchase gives you a concrete number. If the expense is less than $500, request the smaller amount. If it is more, decide how you will cover the difference without adding a second debt payment.
A useful pre-application check:
If $300 is closer to the amount you need, review the smaller loan option before continuing. Choosing an amount that matches the expense is more useful than borrowing extra just in case. If the need is the $1,500 cap, see how a larger Alter Cash loan is disclosed.
$300, $500, and $1,500 are listed amounts in the same product, not three different loan types. Eligibility, IBV, Interac after approval and signature, the 61 to 120 day term, the $0.95 transaction fee, and the $50 NSF fee stay the same. What changes is the size of the request and the payment that will appear in your contract.
A $500 request fits one defined, time-sensitive expense: a necessary vehicle repair, a utility balance, a medical or dental bill that is not otherwise covered, or an essential household purchase. It does not fix a gap that returns every month. If the same shortfall appears again after payday, adding a 61 to 120 day payment can make the next month harder. If the expense is a smaller shortfall, stay on $300. If it is the cap, use $1,500. $500 is the middle listed amount for a mid-size bill, not a default. A $500 loan that covers a one-off bill is different from using $500 to float a budget that is already short every month.
The application is completed online, on a computer or a phone, and takes a few minutes. You will need your contact details and online banking access. The IBV session reviews income and account activity. You provide the information requested in the form and submit it for review. Applications are reviewed during business hours. If an offer is presented, read the agreement before you decide.
See Alter Cash’s online loan options or contact the team if a step is unclear. The process from application to repayment is also on how it works. IBV is explained on the loan without a credit check page.
$500 is one selectable amount inside the $250 to $1,500 range. Alter Cash is a direct lender, not a broker. This is not a payday loan: a payday loan is due in full on the next payday. An Alter Cash $500 loan, if offered, is repaid in instalments over 61 to 120 days.
An application is not a promise that an offer will be made. Any offer is governed by the agreement presented to you. If this page and the agreement ever differ, the agreement controls.
To request a $500 loan you need to be 18 or older, a Canadian citizen with a Canadian bank account, earn at least $1,200 per month paid by direct deposit, have been with your current employer for at least 3 months, not be in active bankruptcy, and not have a repeated NSF pattern. A less-than-perfect credit score does not automatically disqualify you; every application is reviewed individually.
An applicant is not eligible if any of these apply: self-employment, child tax credit, retirement savings, student loans, social assistance (including ODSP), or a KOHO account. Canadian citizenship and a Canadian bank account are both required. Income must arrive by direct deposit. Those exclusions are categorical: they are not accepted as qualifying income or as an accepted account.
Have the information requested by the application available before you begin. If a requirement is unclear, use the contact page rather than guessing.
The amount borrowed is not the only number that matters. Before accepting an offer, review the total cost of borrowing, the total amount to be repaid, the amount and number of payments, each payment date, any fee for a missed or returned payment, and any cancellation or prepayment terms in the agreement.
A one-time $0.95 transaction fee is charged when the loan is issued. A $50 NSF fee applies if a payment is returned, and early repayment is free. Your contract, if one is offered, gives the exact total cost and $500 schedule before you sign. This page does not list a sample $500 schedule. The contract, if one is offered, is the only source for that number.
Read the payment schedule in the agreement and place every due date in your calendar. Compare each payment with your expected income, housing, food, transportation, utilities, and existing debt. A payment that only works in a perfect month is not a workable plan. If the schedule does not fit, do not rely on another loan to make the payments.
Before borrowing, check whether one of these choices can solve the expense at a lower total cost:
Borrow only for a defined need and only after reviewing the full cost. Avoid using a new loan to cover another loan payment. After accepting any credit agreement, keep a copy, track the dates, and contact the lender early if you expect a payment problem.
If $500 matches a defined expense and the payment fits your budget, review the online application. Read every term before accepting an offer.
