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Instaloans Canada

Instaloans operates as a subsidiary under the Cash Store Financial Services Incorporated. As a result, Instaloans can offer its master company’s products as well as utilize the 200 store branches across Canada. The Cash Store also operates under its own name as well, offering similar loan products. Branches are located in most of Canada’s provinces as well as both territories. Instaloan itself has physical locations in five provinces including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia. Because of the subsidiary connection, Instaloans can also offer besides payday loans other financial products such as:

  • Signature Loans
  • Cheque Cashing
  • Title Loans
  • Prepaid credit cards and phone cards
  • Transfers
  • Injury Loans
  • Payment Protection Plans
  • Bank Accounts

The company takes online applications for loan products via the Internet.

Instaloans was part of a class action lawsuit initiated years earlier and settled in 2009. This included repayment of fees charged to affected customers. A second settlement on a different class action lawsuit was settled the following year.


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Reader Reviews of Instaloans


"Title Loan"
from Pensacola says:
Review:
Instaloan gave me a title loan on a car that is owned by the finanace company.How can they do that? In order to get a collateral loan, shouldn't the car have a clear title? GENE
Would you use Instaloans again?:
No I would not
9/23/2014 3:07:22 PM
 

"Injured"
from Victoria says:
Review:
I was seriously injured and in a coma for a week, thankfully I woke up and am recovering. Instaloans explained that I might be covered by insurance since I was unable to work which made me unable to pay off the loan. The people at the branch were very understanding. The forms were given to me and I was unable to see a doctor for another month to have them filled out properly. My injury was the type that required me to see a neurologist and I did not have a family doctor at the time. I gave my neurologist the forms and he took another month to return them to me after repeated calls from the Instaloans branch I had been dealing with. The branch was understanding and said they would not escalate to corporate but at no time did they advise me that there was a deadline to get the forms back to them. Finally after calling my neurologist several times I got the forms back, which cost me $50, and brought them to the branch office. A week or so later the branch called me to inform me that I had not been covered because I had taken too long to return the forms. I asked them to try again and they did with no luck. The only reason I received was that I took too long to return the forms. I explained I was unable to work for a while and my medical EI was running out and I was in a transition to regular EI to enable me to pay the loan, other bills and survive until I could return to work. The branch assured me they understood and would continue to call me back to get updates on my situation and not escalate to corporate. After no more calls from the branch and a few weeks later I received calls and texts from their corporate office trying to collect on my loan. When i explained my situation to the corporate caller and said I needed to speak to a lawyer to clear this up, they directed me to just pay the loan off and not bother with a lawyer because I would have no luck. They also stated that it wasn't their problem the doctors couldn't fill out the forms in time for their deadline and that this was a business. I will never borrow from this company or any other pay day loan shark again. I would advise anyone reading this to do the same.
Would you use Instaloans again?:
No I would not
7/10/2014 11:49:29 AM
 

"In a bind"
from Owen Sound, Ontario says:
Review:
When I used the company I was in a bind and I just found out Instaloans was shut down in Ontario for not abiding to the payday loan act.. Shame on them taking advantage of people
Would you use Instaloans again?:
No I would not
6/22/2014 4:30:17 AM
 

"Employee Comment"
from Edmonton says:
Review:
I work for the company and deal with clients like everyone on here, every single day. We inform you on the interest rate and the fee we charge for borrowing and exactly what the pay back is and when it will come out of your accounts, is it our fault that we assume your adults who are able to do simple math and assume you will pay your bills? No. Take a look in the mirror and don't be signing legally binding documents if you don't understand them. And as for child tax borrowers, get a damn job
Would you use Instaloans again?:
Yes I would
5/27/2014 10:09:01 PM
 

"Constantly Call"
from New Westminster says:
Review:
I have a relatively new cell phone number and Instaloan is constantly phoning me looking for one of their clients. I've explained the situation and asked them 3 times to have my number removed from their call list and they refused. It looks like they could use some tips on how to track down their "clients" -- they are not going to find "Shawn" at my number but they won't stop. It appears all that a "delinquent client" needs to do one is change their phone number--Instaloan will just bother the person with the client's old number and the "client" will not be found! Gotta luv it.
Would you use Instaloans again?:
No I would not
5/9/2014 6:15:42 PM
 

"Not pleased"
from Calgary says:
Review:
Exorbitant fees, unfriendly , bored staff. I can see why they have had lawsuits - they are part and parcel of The Cash Store - another rip off company!
Would you use Instaloans again?:
Yes I would
4/12/2014 4:26:43 AM
 

"Consumer Protection"
from Vancouver, BC says:
Review:
Check out - http://www.consumerprotectionbc.ca/component/content/article/151-payday-loans/1189-cash-store-refunds-update-january-2014 OR google "Instaloan Class Action Suit" - News for anyone that got loans from November 1, 2009 to March 23, 2012. You could be entitled to some $$$. Your welcome.
Would you use Instaloans again?:
No I would not
3/18/2014 7:12:54 PM
 

"Bad news"
from north bay says:
Review:
Worst place ever Hope you enjoy getting ripped off and chewed to the bone both Instaloan and the cash store it's good for when u need money but paying it back is next to impossible got a $700 dollar loan and now I haveto pay back $900 which is my interest cheque like I'm supposed to neglect all my bills and rent and food for my kids so I'd like to thank u guys for making my struggles even harder but I jackrabbit my lesson and never again will I use u guys
Would you use Instaloans again?:
No I would not
3/12/2014 9:50:16 PM
 

"High interest and fees"
from Thunder Bay Sudbury says:
Review:
No, I would not My experience has been negative at times. Charging additional moneys on top of the pay day loan.....50% or more fees. For $400.00 paying 200-300 fees on top of it. I knew something was up....Also if you took it out on your Child Tax, they would take it out the night before or wrong date making the consumer pay 90$ NSF fees and then turn around and charge 30% interest per day for paying it back....
Would you use Instaloans again?:
No I would not
2/23/2014 12:17:22 PM
 

"Big pain"
from st John's says:
Review:
They are not worth the hassle I wouldnt use them again if it was free id rather pan handle than use their service
Would you use Instaloans again?:
No I would not
2/12/2014 8:29:13 PM
 

"Employee responds!"
from london says:
Review:
I work at Instaloans and all you people casting blame on us should take a look in the mirror. Nobody forced you to take out the loan, after all the fees are explained to you and you sign the documents accepting the fees and then walk out with the money, whose fault is that. I have many great clients that are actually grateful we could help them so for all those people complaining about our services, take a look in the mirror.
Would you use Instaloans again?:
Yes I would
2/11/2014 11:31:45 AM
 

"Don't use instaloans"
Don't use instaloans from abbotsford says:
Review:
 Do not use instaloans. Would you use Instaloans again?:Yes I would Lol why would you say all that and forget to select no on the use again question . Maybe u took the same approach to not reading the contract and inquiring about job loss protection. Cash store auto set me up with job loss protection instaloans didnt even give me the option.
Would you use Instaloans again?:
No I would not
11/18/2013 9:45:34 PM
 

"Loan Fee is huge!"
from says:
Review:
The loan fee (card fee included) was just over 110 percent. I don't believe this is allowed. instaloans/cash store is in serious need of regulations... I will never use these loan sharks again
Would you use Instaloans again?:
No I would not
8/14/2013 11:39:29 AM
 

"Big Card Fees"
from says:
Review:
has anyone every verified where these loan sharks get off with the so called "card" fee. where does it go... who gets the "card" fee??? does cash store pocket instaloans and visa versa??? they are the same are they not. Also, last time I was in there the fee and other charges came to 111%. ??? who regulates this. when I first went in for a loan I had to produce a bank statement which would show everything including any overdraft I may have available. Why did I have to do this again before they supercharged me for my small loan. I should have taken advice as I was told , "they are loan sharks"
Would you use Instaloans again?:
No I would not
8/14/2013 11:34:14 AM
 

"High Interest"
from Saskatchewan says:
Review:
when I borrowed 60... who pockets the 43 charge (making my loan 103) and then I was charged the usual interest 23 %... I believe this is not legal...
Would you use Instaloans again?:
No I would not
8/10/2013 3:19:13 PM
 

"Expensive"
from says:
Review:
I was in desperate need of $60 for a fee of $43 making the total borrowed $103 and am charged 23% interest on that!!! What the F???? I will not be going back because you are taking the extra money and putting that in YOUR pocket to hell with the borrower who needs to eat. INSTALOANS, you are a fraud and need to be better regulated. Who pockets the extra fees???? I guess the key word here is DESPERATE!!!! AND I WAS TAKEN TO THE CLEANERS!!!!!
Would you use Instaloans again?:
No I would not
8/8/2013 7:09:47 PM
 

"Disrespectful"
from Nova Scotia says:
Review:
My father had passed away 2 days before my payment was due. As upset as I was I did forget about contacting them and making arrangements for another time. Believe me contacting ANYONE was furthest from my mind with the sudden loss we had suffered. I did contact them a few days later and left a voicemail message telling them I will be in contact to make further arrangements after all was said and done with my father's funeral. On the day we were to bury my father Instaloans called me in regards to my bill and I told her that I could not deal with it at the moment and I will call her the following day. Well that is when all hell broke loose. The ignorant b**ch of a loan officer started yelling at me said to me your father's death does not matter we need a commitment from you right now. An argument ensued on the telephone and I told her to have some f**kin respect and I slammed the telephone down. I called the complaints department after that telephone call. They took my information and a complaints officer followed up the following day via telephone. She was very understanding. Apparently there had been other complaints about the same loan officer at the same store. It will be a cold day in hell before I ever use Instaloans again. IGNORANT AND DISRESPECTFUL!!!!
Would you use Instaloans again?:
No I would not
7/28/2013 10:20:35 PM
 

"Slow - not 1 hour"
from Online says:
Review:
I have been told several times my loan would be in my bank account with 1 hour and I still haven't seen it and outs been going on now for a few days and every time I call they need another fee for something even though they tell me each time they say ask the fees are paid.
Would you use Instaloans again?:
No I would not
5/23/2013 5:51:27 PM
 

"Bad Attitudes"
from Quesnel, BC says:
Review:
The loans officers made me feel kinda like scum just for taking out a loan. the managers attitude sucked.
Would you use Instaloans again?:
No I would not
5/2/2013 10:59:59 AM
 

"Not Instant"
from Red Deer says:
Review:
The name is a myth, it took way longer than 3 hours to get my money in my bank account. What a joke
Would you use Instaloans again?:
No I would not
4/8/2013 5:04:54 PM
 

"Unreasonable collectors"
from Toronto says:
Review:
The collections department was really rude, and did not understand my predicament at all, I was hit by job loss and expensive car repairs at the same time and i just needed reasonable payment dates to make it work. Do not use instaloans.
Would you use Instaloans again?:
Yes I would
11/20/2012 12:00:00 AM