What are the steps to follow to obtain your loan?
The steps are:
- Fill out and submit the form,
- complete the bank verification (IBV),
- If approved, sign and return the contract,
- Receive the funds.
What are the admission criteria?
You must be at least 18 years old, reside in Canada, have been employed for at least 3 months, and not be in the process of bankruptcy or a consumer proposal.
How to apply for a loan online?
At Check Station, Fill out the online form and submit it, completing the "Complete my IBV" section.
What happens once my application is submitted?
The application is sent to analysts for review. The applicant will be notified of the decision by email.
How long will it take for me to receive the money?
Generally, the funds are transferred via Interac e-Transfer the same day.
Do you need to verify my employment?
Or, employment verification is required. This process remains confidential; the employer will not be aware of the credit application.
What is a variable credit agreement?
It's a document that formalizes the agreement. Unlike term loans, it provides access to funds that can be used at your discretion, with the possibility of repayment without penalties.
What is the interest rate?
APR (Annual Percentage Rate) of 18.99%
What happens if I am unable to make a payment?
It is possible to postpone the payment for a fee of $25; the request must be made 4 business days before the scheduled withdrawal. This avoids bounced check fees.
Are there any other fees?
Weekly membership fee: $22.50 as long as there is an active balance.
Where can I find my balance and payment schedule?
In Appendix B of the contract. Or contact info@checkstation.ca.
When can I renew my loan?
Contact us by email to receive updates quickly.
What is Instant Bank Verification (IBV)?
It allows institutions to view accounts and transactions. It verifies identity and provides a secure copy of bank statements for quick file analysis.
How can I know if the process is secure?
The IBV system offers the same level of confidentiality as online banking and never accesses your username or password.
What will you do with the information provided?
It will be securely transferred to the financial institution for identity verification and transmission of bank statements.
Will you be able to access my bank account?
No. The IBV system only transmits a read-only copy of the bank statements.
Why do I need to send you my bank statements via the IBV system?
It allows us to access the necessary information to analyze your repayment capacity (salary deposits, bills, other loans, etc.).
I'm unable to send my bank statements (IBV). Why?
The email address must match exactly the one on file with the financial institution; otherwise, the system will block the request. If you are having trouble with bank verification, please visit our dedicated page or contact us directly.
I'm having problems with the electronic signature.
Please check that all required fields (initials and signature) are filled in. The Send button will only appear once all fields are completed.
Adobe Acrobat is in English. Can I get the instructions in French?
Yes. Click on the three lines in the upper left corner and choose the desired language (option at the bottom of the list).
The IBV system indicates that I have made too many attempts.
For security reasons, the system locks after too many attempts. Please try again tomorrow after verifying that you have the correct information.
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