Frequently asked questions

We provide multiple deposit methods to our clients, such as:

• Direct Deposit – This method is free and sends funds directly to your bank account. To receive same-day funds, your loan must be approved before 2:30 PM EST; otherwise, the funds will be deposited on the next business day.
• Instant Deposit (NEW) – Our instant deposit is a new feature designed to eliminate delays in receiving funds via direct deposit. It enables you to receive funds within an hour of approval, regardless of the cut-off time.

Please note that there is a $5.00 surcharge for this service, and the fee will be included in your surety fees.

• E-Transfer – Exclusive to returning clients, funds will be sent to a verified email address registered on your file within 3 hours of approval.

 Please note that there is a $3.00 surcharge for this service, and the fee will be included in your surety fees.

Your user ID and password are securely transmitted directly to your financial institution. It provides us a “read-only” copy of your bank statement for a 90-day period and the tools to verify your identity. The statement’s contents are then examined by our analysis team to ensure an accurate decision regarding your loan application.

Certainly! As a standard practice, our processing methods do not involve a credit check; instead, they are solely based on your bank statement and employment status.

Our offering stands out for its paperless approach, which eliminates the need for any physical documents. It incorporates instant verification and e-signature capabilities. By providing us with secured view-only access to your account, you can have your loan application approved without the need of submitting paperwork.

To qualify for a loan, you must meet the following criteria:

• You should be a Canadian citizen.
• You must be at least 18 years old.
• You need to have a minimum monthly income of $1,200, received through checks, e-transfer, or direct deposits from your employer.
• You should have reliable employment with at least 3 months of continuous employment.
• You must own a Canadian bank account in which your pay is received through direct deposit, e-transfer or checks, and the account should have been active for at least 3 months.
• You should not be on the verge of bankruptcy or about to enter a consumer proposal.
• You should have a low or no history of insufficient funds transactions.
• Your short-term debt ratio, including other active short-term loans, should be low.

Please note that the following income sources are NOT accepted:

• Self-employment income
• Social assistance
• Student loans
• CPP (Canada Pension Plan)
• Child tax benefits
• Private pensions
• Disability payments
• Other income from insurance

We are unable to postpone your first and final payments. To request a payment deferral, please ensure you contact us at least 48 hours prior to the scheduled withdrawal. The fee for deferring a payment will replace the original scheduled loan payment.

It’s important to note that payment deferrals can’t be processed if your previous payment was returned or if you have recently deferred a payment.

For more information, please contact our financial department.

Your first payment must be made via automatic withdrawal, but any payment beyond that can be made early.

Your application must include at least one phone number registered under your name.

Regrettably, we are not currently providing insurance for our loans. However, if you face challenging circumstances in the future and require assistance with your payments, we’re happy to work with you and find a suitable solution that meets your needs.

We can accept digital pictures, screenshots, and scans of your documents. However, please note that we are unable to access documents through links from cloud service providers such as Dropbox, Google Drive, iCloud, and others.

Absolutely! After successfully repaying your initial loan with RockiesLoan, we consider Employment Insurance (E.I.) and other types of insurance as an eligible source of income for renewal applications.

Please keep in mind that you’ll need to provide documentation as proof of insurance to proceed with the renewal process. This documentation can be an Employment Insurance (E.I.) claim or an insurance document in your name validating the coverage.

We recommend using one of the following payment methods: pre-authorized debit, e-transfer, or credit card.

Please note we require a minimum of 48 hours’ notice to stop a regular payment that’s already in transition. For credit card payments, you can contact our financial department.

Verification of employment is conducted exclusively by Jupiter Suretyship, a third-party entity.

They will only confirm the information you have already provided, and your data will be maintained with the utmost confidentiality. We want to reassure you that we do not disclose to your employer that you are in the process of applying for a loan at any point.

New clients can qualify for an initial loan of $500, and as you establish a positive borrowing history with our lenders, you’ll become eligible for larger loan amounts up to $1000.00.

We understand how important privacy is for you, that’s why our process is amongst the best available online today. This system was designed with maximizing your privacy and security in mind, using 128-bit encryption, just like your bank. Personal information such as your username and/or passwords stay secret and never get stored or displayed.

This is the fastest, most secure way to share your information in order to apply for a loan. It’s also the most convenient.

To update your banking information, we kindly request a voided cheque or a pre-authorized debit form. You can conveniently provide us with a picture of either document by sending it to [email protected].

After you’ve submitted your application, our analysis department will review it to ensure that all details are in order and aligned with our lenders’ criteria. Typically, this process can be finalized within 24 business hours, but often it is even faster.

We offer a 5-day grace period for a missed payment. Should you find yourself able to make that payment within 5 business days, you will not incur an NSF fee.

There are 3 options for payment: 1. Credit Card payment. 2. Money Transfer by Email. 3. Automatic Withdrawal. For Credit Card payments or Automatic Withdrawals you can call us or send us an email. For Money Transfers, you must call us by phone.

In order for us to defer a payment a notice of at least 48 hours’ is required.

Please note we can’t postpone your first and last payments; if you want to postpone a surety fee or a regular loan payment you must contact us 48 hours prior to the withdrawal. In addition, a payment can’t be deferred if your previous payment was returned and/or recently deferred.

We encourage you to reach out to us if you have any questions or need further clarification.

Once we have received all the necessary information, your file is promptly forwarded to the analysis department for review. While the process may require up to 24 business hours, it’s typically done a lot faster.

We understand that financial challenges can arise unexpectedly, and we are here to help. If you are unable to make your payments as scheduled, we encourage you to contact our financial department. We offer various options to assist you in managing your financial situation.

We provide a grace period of 5 business days to catch up on a missed payment. However, if you are unable to make up the missed payment during this period, your next regular loan payment will be deducted from your account on your next scheduled payment date. Additionally, please note that an NSF fee of $45.00 will be applied at the end of your payment schedule.

Your information (user id and password) will be sent securely straight to your financial institution to gain access to a “read-only” copy of your bank statement for 90 days and to verify your identity. The information contained in the statement is reviewed by our team of specialists to quickly and accurately come to a decision regarding your loan.

The fee will be applied to replace your initially scheduled payment.

For the first deferral, there is a fee of $25.00. In the case of a second deferral, a fee of $50.00 is charged, which includes a $25.00 fee and a $25.00 reduction from your balance. For a third deferral, a fee of $75.00 is applied, consisting of a $25.00 fee and a $50.00 reduction from your balance.

Please note that a mandatory 48-hour delay should be considered.

Your loan contract consists of four pages: Loan Agreement & Surety Agreement

Please be aware that the date of your first payment(s) can be found on the first page of the Surety Agreement, as these payments take precedence. The capital payment(s) will be found on the first page of the Loan Agreement.

Please be aware that your payment schedule may be subject to change prior to approval. Our valued customers can renew their loans after a grace period to allow them time to complete any outstanding loans before the start of payment cycles for their new loan.

While a pay stub can demonstrate your past employment with an employer, it may not confirm your current employment or future employment status.

It’s important to note that the vast majority of applications (approximately 98%) are typically completed and approved within the same day. However, in some cases, the process may take up to 3 business days to finalize. This extended timeframe may occur due to high application volumes or complications that may arise during the verification phone calls.

We appreciate your patience and understanding in such cases.

Certainly! When you make an early payment via e-transfer, you can expect to receive confirmation of receipt. Typically, our system is designed to acknowledge and confirm the receipt of your payment within 1-2 business days. This confirmation helps ensure that your payment has been successfully processed.

If you have any concerns about the status of your e-transfer payment or do not receive a confirmation within the expected timeframe, please don’t hesitate to reach out to our customer support team.