A payday lender that has over 25 locations in the province has been ordered to refund nearly 3,000 customers after a Consumer Protection BC investigation.
According to Consumer Protection BC, the payday lender, Cash Money, has agreed to refund $547,000 to over 2,800 customers.
The investigation alleges that Cash Money violated consumer protection laws in its loan agreements. Cash Money allegedly requested payment before the individuals who borrowed money had received funds from their employers or other sources.
Consumer Protection BC says that in some cases, Cash Money gave “borrowers a shorter timeframe to pay back the loan than is required under the law.”
“After entering an agreement with Consumer Protection BC to correct their contracts, earlier this month, the payday lender mailed refund cheques for more than 5,600 non-compliant payday loans, issued between June 1, 2023, and July 20, 2025,” a statement from Consumer Protection BC said.
If you think you might be impacted, you can contact Cash Money directly to determine if you’re eligible for a refund by calling 1-877-526-6639 or emailing customerservice@cashmoney.ca.
Following this investigation, Consumer Protection BC is also examining other payday lenders for potential violations.
“A payday loan is a short-term loan up to $1,500 with high fees that make it an expensive way to borrow money,” Consumer Protection BC says, adding that in B.C., a payday loan costs a maximum of $14 per $100 borrowed, which includes interest and fees.
“We often see under-resourced consumers using these loans because they don’t require a credit check. Unfortunately, a lot of people get caught up in a dangerous borrowing cycle and find themselves going deeper and deeper into debt,” Louise Hartland, the director of PR for Consumer Protection BC, said in a statement.
“We are seeing more people who live in B.C. taking out these loans. Last year alone, 122,901 people took out a payday loan, borrowing approximately $364 million. That’s an increase of 11 per cent since 2023,” Hartland added.
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