FAQ

Absolutely! Our loans are approved without a credit check. We use IBV instead, which is faster and less strict in criteria.

The major difference between these two types of personal loans lies in qualifications and approval. While banks might reject you based on your credit score, Finexa relies on your recent spending history through IBV. Due to the higher fees associated with these personal loans, we encourage you to use them cautiously.

None! Only your scanned identification will be required. All application and approval processes for your personal loan are done online.
Acceptable forms of identification:
- Your driver’s license
- Your health insurance card
- Your passport

Your loan will be deposited into your account via Interac e-Transfer within 24 hours once approved and your documents are signed. You can receive the money the same day if your application is submitted and approved before 1:00 PM.

Yes, personal loans allow you to adjust your payments or change the payment dates if needed. You must give us a 72-hour notice period before the payment through our teams (email, phone, or text message). You can also change the account from which the repayment of your personal loan is withdrawn.
*All modifications incur a management fee of $35, which will be added to the end of your payment schedule

No, because the request for a deferral must be made 72 hours before the deduction. Therefore, you will not be able to postpone this repayment. Make sure to contact us earlier when you realize that your payment cannot be made.

Unfortunately, we do not accept payments by Interac e-Transfer. Only automatic debits are accepted.

If you missed a payment because your account balance was insufficient, contact us to apply one of the following options:
Contact us and we can make a modification to your schedule according to the following two options:
- Postpone your payment
The missed payment of your loan will be added to the end of your schedule.
* A missed payment will incur NSF fees of $50

You can contact Finexa by phone, SMS, or email.

The limit is three consecutive missed payments. Your file will then be suspended and transferred to a collection agency. Your credit score may be impacted by this transfer. If this were to happen, contact us promptly to arrange an agreement.

When your loan is repaid to 75% of its amount and fees, you can request a renewal. If you want to know if you are eligible, you can contact us by phone, SMS, or email.

No, we will not contact either your employer or your references during the approval process. Your references will only be contacted if we are unable to reach you. Make sure to inform us of any changes to your contact information to avoid using your references.