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          Business Profile

          Payday Loans

          Payday King

          This business is NOT BBB Accredited.

          Find BBB Accredited Businesses in Payday Loans.

          Information and Alerts

          Alert Details

          This business has 1 alert.

          Alert

          On October 11, 2018 BBB wrote to Payday King with a request for information about their business personnel, licensing and registration, as well as their basic business practices. As of November 20, 2018, BBB has not received a response. If a response is received from Payday King, BBB will update this record with a summary of the information provided.


          BBB was prompted to make this request due to consumer inquiries as well as the industry in which Payday King operates. BBB has verified that in Nova Scotia, where Payday King operates, online payday lenders are required to display their permit information on the introductory page of their website. Payday King does not display this permit information, as required. In Nova Scotia, payday lenders are required to hold a permit to operate. The Nova Scotia government has confirmed that Payday King does not hold a permit to operate in Nova Scotia. In order to find information regarding payday lenders in Nova Scotia, please refer to the Nova Scotia government website, https://beta.novascotia.ca/payday-loans-your-rights. There is also a public enquiries number where you may make an enquiry regarding the licensing of a particular payday lender, the number is 1-800-670-4357.


          The address provided by Payday King is a mailbox, and not a storefront.


          Payday King and Cash One claim to be operating out of the same mailbox, and have very similar, and in some cases identical text on their websites. In BBB’s experience, online payday lenders will change names or use different names in order to manage their reputations and avoid the appearance of “roll-over loans” which are not permitted in most provinces.


          Some online payday lenders require access to your bank account in order to make a loan to you.  BBB cautions consumers against providing bank account login details to any person or company as this violates the terms and conditions of online banking with all financial institutions in Canada. When you provide your login credentials, you are giving access to any money in your bank account, and your bank can deny assistance for returning fraudulently withdrawn funds.

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