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About Ferratum

Ferratum is an international provider of mobile consumer loans. As a pioneer in the field of financial technology and mobile lending, we have expanded our operations to 27 countries since 2005.

At Ferratum, our mission is simple – to provide the best, fastest, and most user-friendly lending and banking services available with unsurpassed personal customer service.

In Canada we started this mission in 2015, and continue to invest and improve to serve our customers better. To date we have served tens of thousands of happy Ferratum Family members.

 


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Currently we operate in Alberta, British Columbia, and Ontario. We think all Canadians would love our services, so we're working hard to offer our products in other provinces too! Check back soon.

 


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You can visit our Contact page, or get in touch via:

Phone: 1-877-880-3099

LiveChat: Connect now

E-mail: CustomerCare@Ferratum.ca

 


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Ferratum Canada is open for business from 6AM to 6PM EST, Monday to Friday. You can apply at any time for your own personal loan online, so the sooner you apply the faster you get your money. We pay loans all day during normal banking hours.

 


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You can talk to a member of our collections team by calling 1-877-984-8719.

 


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We're tickled pink! Sharing your feedback and experiences help other customers find us. Feel free to review us at:

Trustpilot

Google Reviews

Facebook

Instagram

 


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Our Loans

We provide small, hassle-free loans to our customers from $100 to $1,000 with terms ranging from 30 to 62 days. Unlike many other personal loan lenders in Canada, our service is 100% online and automated, so you can apply 24/7 and receive a decision in minutes.

Unlike similar lenders, our loan terms allow for smaller payments over a longer time making it truly easy to manage your finances. This way, you won’t get stuck in a never-ending contract and won’t struggle to pay us back at once.

 


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Ferratum Canada offers something very different. Instead of requiring you to pay your loan back in one lump sum, we let you do it over smaller payments.

So for example: Instead of paying one $500 payment to our competitors, you can pay us in two smaller payments of $250. That’s why Ferratum is the #1 loan provider in Canada.

 


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The amount you can borrow from us will depend on many factors that are built into our automated system.

We offer loans between $100 to $1,000 and you can apply for as much as you need.

Once our secure system has determined your approved amount, simply acknowledge your loan agreement, and we’ll deposit your funds directly to your bank. It’s that simple with Ferratum.

 


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Currently our loans are available up to 62 days. You can choose a shorter term to pay your loan back any time, without any additional penalties or fees.

 


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We are a fully transparent and licensed "payday" lender in Alberta, British Columbia, and Ontario. Our fees range from $15 to $18 per $100 borrowed.

There are zero hidden fees for our world class customer service, or to make payments. Our fees do not change if you need a shorter or longer term.

To read more about our loan fees, please visit this page.

 


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Applying

All Canadian citizens from the provinces of Alberta, British Columbia, and Ontario are welcome to apply. You must be over 21 years of age and need a personal e-mail address, a mobile phone number, and a bank account.

 


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Yes, you will need a Canadian bank account to receive a loan from Ferratum Canada.

 


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No, you do not need to be actively employed as our automated system considers various income sources during the application.

 


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Yes, you do need to provide statements. This is because we do not perform credit checks. We assess everyone's ability to make payments based on their bank statement activity.

If you are a returning customer, we may not require bank statements from you.

 


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Where possible, Ferratum Canada uses technology to make things easier! So when it comes to verification, currently we ask our customers to provide their SIN (Social Insurance Number) for identification purposes.

We also utilize Equifax for electronic identification to verify clients on their application details, and to protect Canadians from fraud.

Sometimes, we may require additional identification such as your driver's license. In those rare cases, a member of our Customer Care team will contact you with specific requirements. However, we have found customers who provide their SIN are more likely to be identified without any additional steps – and ultimately more likely to be approved!

 


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Yes, renters are welcome to apply. As with all our loans you need to provide your current address, employment information, and income details.

 


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At Ferratum Canada, we do not check your credit score or pull a credit report.

 


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We use your banking information to deposit your loan funds directly into your account. As well, we look at your banking history to assess your ability to make payments. All information is kept confidential and secure with bank level encryption.

Please review our Privacy Policy to see what data Ferratum Canada collects, and our commitment to your privacy.

 


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We've partnered with Credit Sense, who offers bank level security while also providing key information about your banking history to ensure we lend responsibly.

This process is easy and only takes minutes. We do not require you to scan, upload, or e-mail any documents. Simply login to your online banking through a secure portal and follow the simple steps.

 


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We aim to give you a loan decision within 15 minutes of successfully receiving your application during normal business hours. In cases that we need additional information, a member from our Customer Care team will contact you.

Once you've applied, you'll get a decision shortly from our fully automated system with loan amounts between $100 and $1,000 Canadian.

 


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Once you've accepted your electronic loan agreement, we will process your loan payout.

Generally for customers banking at a major Canadian financial institution, you can receive your money in as little as 1 hour (during normal business hours) or the next business day for after hours.

However, some customers may notice a delay based their local bank, as processing times vary from branch to branch.

 


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Our approval process is fully automated and based on a review conducted by our system on the information you provide us on your application.

Unfortunately, we can't disclose how our system processes this, but it is important to know that the decision can change as your financial situation changes.

 


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Yes! To ensure you have the best chance to be approved, we ask customers to provide as much accurate information you can. If you are not approved, we welcome you to try again.

The majority of our customers have success after waiting 3 months, or when there have been significant changes to your financial situation. This can result in a better outcome.

 


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Once you accept, your funds will be automatically deposited into your bank account. This works the same fast way your employer might deposit your pay on your payday.

 


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Consistent with payday loan regulations in Canada, as well as our commitment to responsible lending we can only allow customers to have one loan at a time. Once your loan has been fully paid, you are welcome to apply again!

 


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Unfortunately due to our policies, we cannot allow two people from the same residential address to receive loans from Ferratum Canada. We currently only allow one loan per residential address.

 


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Our automated scoring system looks at many income sources and decides based on your financial history. Because we are a responsible lender, we offer our customers an amount that best suits their current needs based on their financial history.

 


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While Ferratum often approves applications for personal loans from EI recipients, we also recognize the importance of your ability to make payments.

We work with our customers to ensure they understand all the terms of the loan prior to approval. This way, people who genuinely require money can receive their personal loan without any issues.

 


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Paying Your Loan

Payments of your loan are automatically taken out of your bank account according to your payment schedule. All repayments must come out of the same account in which you receive your salary, or your primary source of income that you include on your application.

 


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You are welcome to apply for your next loan after your final payment has cleared. To ensure we lend responsibly, our customers can only have one loan at a time.

 


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To cancel your loan, please follow the below steps:

1) Download the cancellation documentation for your appropriate Province:

Alberta Cancellation Notice
British Columbia Cancellation Notice
Ontario Cancellation Notice

2) Print and complete the form in full.

3) Scan the completed form / Photograph the completed form.

4) E-mail the completed form to CustomerCare@Ferratum.ca with your Loan ID in the subject line (optional).

Please note: All loans must be cancelled within 48 hours of receiving funds (2 business days).

 


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As payments are subject to clearing at the bank, and we can only provide a new loan once all prior loans are paid back and the final payment has cleared. In some instances, this can take up to 2 business days.

 


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Currently we do not offer electronic money transfers. We're working hard to integrate electronic e-mail money transfers into our lending system and will announce this as soon as it's live.

 


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If you cannot make a payment according to your payment schedule, please contact us to discuss options available.

We encourage our customers to be proactive and contact us early if you’re experiencing financial hardship. We will try our best to make new arrangements to avoid any stressful situations.

To avoid fees, delays, or charges at your bank we require minimum 1 business day (24 hours) notice prior to any payment due date.

 


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Payment dates are setup on the same schedule as your payday. We find this to be the most convenient and best way for our customers to repay and avoid additional late fees.

 


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Absolutely! If you want to pay your loan off earlier than originally planned, simply chat with a member of our Customer Care team to make the arrangements.

You won't have to pay any fees, and once your loan is paid in full you can re-apply even faster as an existing customer.

 


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If you think you may not be able to make a payment for any reason, please contact us immediately. The sooner you get in touch with a member of our Customer Care team, the faster we can put together a plan that works out best for everyone.

Failure to pay your loan could result in a negative impact on your credit rating. You could also incur additional fees and damage your relationship with Ferratum Canada, making it difficult to be approved for future loans.

 


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Fees vary by province, and can range from $20 to $50. Full details of these fees, and when they apply are outlined in your loan agreement.

 


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If you find yourself having financial difficulty, you can obtain credit counselling through various services including Credit Counselling Canada, the Ontario Association of Credit Counselling Services, and the Credit Counselling Society for our customers in Alberta and British Columbia. These credit counselling services are offered either at no cost, or low cost.

 


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Your Account

You can apply for an online loan from Ferratum Canada by clicking here.

 


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It's easy to login to your account:

 

1) Click the Log in button on the upper right of your screen on a desktop device.

 

2) Click the Profile icon on the upper right of your screen on a mobile device.

 


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Applying for your account at Ferratum Canada is fast! Most of our customers complete their entire application in 5 to 10 minutes.

To ensure a fast and smooth process, be sure to provide as much detail as possible.

We recommend having your social insurance number (optional), banking details (branch number, institution number, bank account), and your current address on hand for quick reference.

 


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When you apply, we ask you 7 questions to help us determine if a Ferratum personal loan is right for you:

 

Your legal name

Your e-mail address

Your social insurance number (optional, but helps make applying faster)

Your mobile phone number

Your primary address

Your employment status and income

Your banking details

 


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If you have forgotten your PIN, you can request a new one by visiting our PIN reset page.

 


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To cancel your loan, please follow the below steps:

1) Download the cancellation documentation for your appropriate Province:

Alberta Cancellation Notice
British Columbia Cancellation Notice
Ontario Cancellation Notice

2) Print and complete the form in full.

3) Scan the completed form / Photograph the completed form.

4) E-mail the completed form to CustomerCare@Ferratum.ca with your Loan ID in the subject line (optional).

Please note: All loans must be cancelled within 48 hours of receiving funds (2 business days).

 


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You can change your address once logged into your account by clicking the My Profile link and navigating to the Primary Address section.

 


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You can change your e-mail address once logged into your account by clicking the My Profile link and navigating to the Personal Details section.

 


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You can change your phone number once logged into your account by clicking the My Profile link and navigating to the Personal Details section.

 


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1) Click the Log out button on the upper right of your screen on a desktop device.

 

2) Click the Profile icon on the upper right of your screen and select Log out on a mobile device.

 


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