Cash Cowboy review

What is Cash Cowboy?

Cash Cowboy offers online payday loans of $100 – $1,500. The application process is managed completely online, and you can borrow up to 50% of your net income . Once approved and funded, you can repay the loan via e-Transfer by your next payday.

Is Cash Cowboy legit?

Cash Cowboy is a licensed payday lender in BC, Ontario and Alberta, according to the government databases of each province. Cash Cowboy appears to follow payday lending regulations in those provinces — for example, it displays its payday lending licence numbers and a breakdown of loan costs on its website.

Cash Cowboy lists an office address in Toronto and can be contacted by phone and email.

Cash Cowboy loan features

What we like about Cash Cowboy loans

• Fast and easy applications. You can apply for a Cash Cowboy loan online within minutes.
• No credit checks. You won’t need to undergo a credit check to qualify for a Cash Cowboy loan. The lender will instead consider your income to determine your ability to repay what you borrow.
• Easy bank verification. You can verify your bank account details via SMS with Cash Cowboy, ensuring a faster application process.
• Same-day funding. Cash Cowboy says loan approval usually takes 1-3 hours, and the loan amount is then sent to your account via e-Transfer.
• Repay via e-Transfer. You can make quick and easy Cash Cowboy loan repayments via e-Transfer.

What to watch out for

• Only in BC, Ontario and Alberta. If you live in any other province or territory, you’ll need to consider other lenders.
• High cost of borrowing. You’ll be charged $15 for every $100 borrowed you borrow, so payday loans are very expensive.
• Short repayment terms. You’ll need to repay your loan by your next payday, so it can be very difficult to budget for loan repayments.
• Only accepts employment income. Cash Cowboy says you’ll need to receive employment income in order to qualify for a loan.

Alternatives to Cash Cowboy

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Product CAFSL	Loan Amount	Loan Term	APR	Speed	Serviced Provinces	Offer	Table description
GoDay Payday Loan	$100 - $1,500	Up to 62 days	Varies by province	As little as 2 minutes with Interac e-Transfer	AB, BC, MB, NB, NS, ON, PEI, SK		To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.	Go to siteMore Info Compare	loading Fetching your data...
iCash Payday Loan	$100 - $1,500	7 - 62 days	Varies by province	As little as 2 minutes with Interac e-Transfer	AB, BC, MB, NB, NS, ON, PEI	24/7 instant approval and e-Transfer funding.	Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. Income of at least $800/month required.	Go to siteMore Info Compare	loading Fetching your data...
Wagepay Wage Advance Loan	$100 - $1,500	Up to 62 days	Varies by province	As little as 2 minutes with Interac e-Transfer	BC, ON	Lower and transparent fees. No late or NSF fees.	Get early access to a portion of your pay. Sign up in less than 3 minutes and receive funds via e-Transfer 24/7.	Go to siteMore Info Compare	loading Fetching your data...
Money Mart Payday Loan	$120 - $1,500	1 - 62 days	Varies by province	As little as 1 hour after getting approved	AB, BC, MB, NS, NT, ON, SK, YT		To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.	More Info Compare	loading Fetching your data...
Cash Money Payday Loan	$100 - $1,500	5 - 40 days	Varies by province	As little as 15 minutes with INTERAC e-Transfer	BC, MB, NL, NS, ON, SK		Instant decision and e-Transfer funding. Income of at least $1,000/month required.	More Info Compare	loading Fetching your data...

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Summary of Cash Cowboy reviews

Cash Cowboy has received more than 250 Google reviews, most of which are positive. Reviewers commonly mention an easy application process as well as fast approvals and funding. However, there are occasional complaints about slow customer service response times.

* Reviews verified correct as of June 28, 2023.

Am I eligible for a Cash Cowboy loan?

To qualify for a Cash Cowboy loan you will need to:

• Be a resident of BC, Ontario and Alberta
• Be 18 years of age or older
• Have access to online banking
• Receive employment income of at least $500 per month

What documents do I need to apply?

You’ll need to provide your name, address, birth date, contact information and bank account details. You’ll also be asked to provide a government-issued form of photo ID, such as a driver’s licence, passport or permanent residence card, and upload a photo of your last paystub.

Can I get a Cash Cowboy loan with bad credit?

Yes. You don’t need to undergo a credit check to qualify for a loan from Cash Cowboy, so your bad credit score won’t stop you from getting funded. The lender will instead assess your income to determine whether you can afford to repay your loan.

How do I apply for a Cash Cowboy loan?

You can apply by completing the following steps:

1. Click the “Apply now” link on the Cash Cowboy website.
2. Select your province.
3. Enter your name, date of birth and email address.
4. Specify whether or not you are in a bankruptcy or consumer proposal.
5. Enter your desired loan amount.
6. Verify your ID and bank account information.
7. Submit your application.

How much will a Cash Cowboy loan cost me?

The maximum cost of a payday loan is governed by regulations in each province and territory. Cash Cowboy offers loans in BC, Ontario and Alberta where the maximum cost of a payday loan is the following:

• $15 for every $100 borrowed in BC
• $15 for every $100 borrowed in Ontario
• $15 for every $100 borrowed in Alberta

So if you take out a $500 loan in Ontario, it will cost you $575 to repay. With a repayment term of 14 days, that’s an APR of 391%. The APR will be relatively lower in Alberta since the minimum loan term in this province is 42 days.

Bottom line

Cash Cowboy is an option worth considering if you need a payday loan. But payday loans are very expensive and have short repayment periods, so they should only ever be considered as a last resort.