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Can I repay early and reapply?

*Please note that repaying by e-transfer in advance will NOT allow you to reapply immediately for residents of Alberta, Manitoba, and Nova Scotia.

In Alberta and Nova Scotia, you will not be able to reapply until the final payment due date that was scheduled in your loan agreement. For more information, please refer to : https://icash.ca/faq/reapplying/repay-advance-new-loan

In Manitoba, you will have to wait 7 days after your final payment date before you can reapply for a new loan, in accordance with Manitoba regulations.

You can repay your loan early without any penalty fees. Once we have received and processed your payment, you will be able to start a new loan application. (*except in Alberta, Nova Scotia, and Manitoba)

There are very important steps to follow to repay in advance.


  1. Never send a payment by e-Transfer before validating the balance amount with us because in case you under or overpay, this will add a delay in the treatment. Once you have obtained the balance, send the payment right away. Your balance can be different tomorrow.
  2. Never send a payment by e-Transfer before validating if the Pre-authorized debit has already been initiated to avoid double payment. Read carefully your email to see if there is a deadline to send to payment. If yes, don't send the payment after this deadline. *If you send an e-Transfer and the payment has already been initiated, you will have to wait 4 business days of treatment by our accounting team to recover the overpaid amount. 
  3. In case you have a previous payment done in the last 4 business day that is not yet confirmed by the bank, we may ask you to send a proof a payment first for that payment. Please follow these instructions to send a proof of payment. https://icash.ca/faq/reapplying/When-I-can-reapply 
  4. Once our agents will have validated your proof of payment, you will receive an email stating that you can now send the e-Transfer.
  5. Only after having received the OK, send your e-transfer to [email protected] (no password required). If a question/password is required, put “password required” for the question and “icash1” for the answer. Make sure to add your iCASH email or loan number with the e-Transfer in the free fields.
  6. The process of updating your payment in our system is done manually by our accounting team from 8 am to 8 pm. This process may take 1 -2 hours but can be longer on our most busy days. 
  7. No need to send us an email! Once your payment will be treated, you will receive an email and an SMS stating that you can re-apply

*Just keep in mind that reapplying for a new loan does not guarantee you will obtain a higher loan amount.

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