Magical Cash
Magical Cash offers fast, secure, and simple short-term loans in Canada, specializing in helping individuals who may not qualify for traditional bank loans due to credit history or income type. The process is fully online with quick approvals and funds delivered rapidly.
Expert Review
Best For
Magical Cash is ideal for Canadians needing a small amount of money quickly who lack access to lower-cost credit options, especially those with non-traditional income sources.
Our Take
Magical Cash provides a rapid, private, and accessible short-term lending solution, ideal for Canadians facing immediate financial needs who might be overlooked by traditional banks. Leveraging Magical Credit's infrastructure, it offers quick online approvals and funding, often within minutes. The service focuses on speed and convenience for those with non-traditional income or credit challenges.
What We Like
- Exceptional speed with same-day funding, sometimes within 20 minutes via Interac e-Transfer or Visa Debit Direct.
- Privacy-focused approach with no credit checks, phone calls, or in-person visits, utilizing instant bank verification.
- Clear and transparent disclosure of loan amounts, fees, and repayment timing upfront.
- Accessibility for borrowers with non-traditional income, including self-employed or government assistance recipients.
Where to Improve
- High cost of borrowing at $14 per $100 lent, which is standard for payday loans but expensive compared to other options.
- Limited loan size (maximum $1,500) and short duration (up to two months) restrict its applicability.
- No credit-building component, meaning responsible repayment does not improve credit scores.
Verdict
Magical Cash is a valuable option for urgent, short-term financial gaps when speed and accessibility are paramount. While its cost and limitations mean it's not a long-term solution, it effectively serves as a bridge for immediate expenses. Borrowers should use it judiciously and prioritize quick repayment.
Brand Signals & Trust
Years in Business
12+
Geographic Reach
2 provinces
Product Diversity
1 product
Customers Served
Over 10,000
Trust Badges
Quality Lender, Enduring Excellence
Products Offered
Payday Loans
Amount Range
$300 – $1,500
Interest Rate
$14 per every $100 lent
Term
Up to 2 Months
Funding Speed
Same day, 20 minutes after approval
Eligibility
- Canadian Citizen or permanent resident of Ontario or British Columbia
- 18 years old and over
- Active Bank account with minimum 90 day transactions
- Income deposited into your account
- 3 months minimum income (Employment, Self-Employment, Unemployment Insurance)
- Earn at least $2000 /month
Google Reviews
702 Google reviews
Monday: Open 24 hours
Tuesday: Open 24 hours
Wednesday: Open 24 hours
+4 more days
Photos
I would like to share my appreciation for the excellent customer service provided by Magical Credit. The team has always been very helpful, professional, and supportive whenever I needed assistance. They take the time to listen and make sure everything is handled properly, which I truly value. Their staff is friendly, respectful, and always willing to help, making the entire experience smooth and stress-free. It’s clear that customer satisfaction is important to them, and it really shows in the way they treat their clients. Thank you for the outstanding service — I highly recommend Magical Credit to anyone looking for a reliable and professional company. ⭐⭐⭐⭐⭐
Costumer service is excellent . Right after I apply, got reply in my email and text message, only took seconds for the reply and approval, note: just be sure to complete tthe IBV and send govt ID and a paystub for the first application. When I signed the contract, just few minutes, the fund is in my bank account. Now I have been in my 3rd application, and there is a payment plan-3 installments. A big help for me. No additional fees. No hidden fees. Magical Credit is a good company🥰
I've posted here before but wanted to express again how wonderful Magic Credit has been for me. I've used them many times now and been super happy with the process. Magic Credit is a quick and easy way to help in my financial situation. I received my money in less than an hour after approval. I highly recommend Magic Credit to anyone who needs a little help before or after payday. I continue to use them because I feel Magic Credit is an amazing company. I do not work for this company, I just have great trust in them when I need the help. Thanks Magic Credit:)
Excellent service! They were very helpful, professional, and quick to respond. What I appreciate most is how reliable they are in times of emergency—you can really count on them when you need financial support. The process was clear, and they were flexible in adjusting my payment schedule. Truly convenient and available when you need them. Highly recommended!
I had such a smooth and stress-free experience with Magical Credit! The application process was quick, straightforward, and I got my approval faster than expected. Their customer service team was friendly, supportive, and always willing to answer my questions. I really appreciate how transparent they are with their terms—no confusion, no hidden surprises. Magical Credit truly helped me when I needed it most, and I’m grateful for their professionalism and reliability. Highly recommend to anyone looking for a trustworthy lending company!
How Magical Cash Compares
Quick Eligibility Check
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