Alter Cash sends an approved cash advance by Interac e-Transfer the same day you sign, with no transfer fee. It is a $300 to $1,500 instalment loan repaid over 61 to 120 days, not a payday lump sum due on your next paycheque. This page explains when the money can arrive, what Autodeposit changes and what can delay a deposit. Approval is not promised. Same-day funding starts once a complete file has been reviewed during business hours and you have signed the contract.
Funding timeline
| Stage | Timing |
|---|---|
| Application | About five minutes online. Details are on how it works. |
| Review | During business hours. A complete file sent earlier in the day is more likely to be decided the same day. |
| Signature | Electronic. The Interac transfer is not sent before you sign. |
| Interac e-Transfer | The same day after approval and signature, no transfer fee. If Autodeposit is on, the funds can arrive without a security question. If it is off, you accept the email or text message first. |
Our instant loan page explains what "instant" means here: a fast response, not a way around these steps. The money moves by Interac e-Transfer, not by cash pickup or wire.
A storefront cash advance or a payday loan is usually due in one payment. If you searched for "e transfer loans" or an "Interac e-transfer loan", you probably want to know how the money arrives and what you repay afterwards. At Alter Cash, the money arrives by Interac e-Transfer after approval, and you repay it in instalments.
Who can receive an Interac e-Transfer loan
Eligibility is the same for every Alter Cash amount:
- 18 or older;
- Canadian citizen with a Canadian bank account;
- at least $1,200 per month by direct deposit;
- at least 3 months with your current employer;
- no active bankruptcy;
- no repeated NSF pattern.
A low credit score does not trigger an automatic refusal. You are not eligible if your only income is self-employment, the child tax credit, retirement savings, student loans or social assistance (including ODSP). KOHO accounts are not accepted. The Interac deposit goes to the email address or mobile number on your application, so use one you can open that day.
Amounts
You can request $300 to $1,500. A mid-size bill is often a $500 loan. Larger amounts use the same Interac path after approval. Borrow the amount of the expense, not the cap: a smaller loan means smaller instalments.
The amount does not change how the money arrives. A $300 loan and a $1,500 loan both go out by e-Transfer after you sign. Only the instalment in your contract changes. If $500 covers the bill, request $500: a larger request raises your payment for 61 to 120 days without making the transfer any faster.
How the online application works
- Choose an amount from $300 to $1,500 on the application form.
- Complete the form (about five minutes) and connect your bank for instant bank verification (IBV). The connection is read-only and replaces a hard credit inquiry.
- Wait for a decision during business hours.
- If you receive an offer, read the contract and sign it. The Interac e-Transfer follows the same day, with no transfer fee.
Autodeposit
Interac Autodeposit is a setting at your bank, not an Alter Cash feature you turn on in the form. When Autodeposit is on for the email address or mobile number on your file, an incoming e-Transfer can be credited without a security question. When it is off, Interac sends you a message and you accept the transfer before the funds appear.
To skip that step, check Autodeposit before you apply and use the same email address or number on your application. Alter Cash cannot set up Autodeposit for you. A different address on the form and on your Autodeposit setting is a common reason a deposit sits unaccepted. Use an address you can open the same day, not an old work inbox.
What delays a transfer
- The file is still in review, including applications sent after business hours.
- IBV was not completed, or the connected account does not meet the eligibility rules (including KOHO).
- The contract is not signed yet.
- The Interac email address or mobile number is wrong, or is not the one registered for Autodeposit.
- Autodeposit is off and you have not yet accepted the message.
- Your bank holds or filters the incoming e-Transfer. That is a bank-side hold, not an Alter Cash fee.
Alter Cash charges no Interac transfer fee and sends the transfer the same day after approval and signature. When it appears in your account still depends on Interac, Autodeposit and your bank.
Frequently asked questions
How fast does an Interac e-Transfer loan arrive?
After approval and signature, Alter Cash sends the e-Transfer the same day, with no transfer fee. Files are reviewed during business hours. If Autodeposit is on, the funds can appear without a security question.
Do I need Autodeposit?
No. Autodeposit is optional. Without it, you accept the Interac message. With it, on the same email address or number as your application, the deposit can land without that step.
What amounts can I request?
$300 to $1,500. A $500 request is one of the listed amounts in the same product, with the same Interac funding after approval.
What usually delays the deposit?
A file still in review, an unsigned contract, a wrong Interac address, Autodeposit set on a different email address, or a hold by your bank on the incoming transfer.
Who is eligible?
You must be 18 or older, a Canadian citizen with a Canadian bank account, earn at least $1,200 per month by direct deposit, have been with your current employer for at least 3 months, not be in active bankruptcy and have no repeated NSF pattern. Social assistance (including ODSP) is not accepted as sole income. Self-employment, the child tax credit, retirement savings, student loans and KOHO accounts are excluded. Each file is reviewed individually. Approval is not promised.
If same-day Interac funding after approval is what you need, open the form. Use an email address or number you can open today, and read the contract before you sign.