How payday loans work in Manitoba
Manitoba regulates payday lenders under The Consumer Protection Act, with rates historically set by the Public Utilities Board. Manitoba has one of the lowest loan-size limits in Canada: a payday loan can be no more than 30% of your net pay.
Since January 1, 2025, a payday loan in Manitoba can cost no more than $14 per $100 borrowed, including every fee, under the federal Criminal Interest Rate Regulations. The loan can be up to $1,500 and can't run longer than 62 days.
How much you can borrow in Manitoba
A payday loan in Manitoba can be no more than 30% of your net pay for the pay period, up to the national maximum of $1,500. With take-home pay of $1,200 per pay period, the most you could borrow is $360.
What a payday loan costs in Manitoba
| You borrow | Maximum cost | Total to repay | APR on 14 days |
|---|---|---|---|
| $300 | $42 | $342 | 365% |
| $500 | $70 | $570 | 365% |
| $1,000 | $140 | $1,140 | 365% |
| $1,500 | $210 | $1,710 | 365% |
Your rights as a borrower in Manitoba
- Cancellation: You can cancel within 48 hours of receiving the money, not counting Sundays and holidays, without paying the cost of borrowing.
- Repeat loans: Manitoba limits repeat and replacement loans and caps what a lender can charge on them.
- Late or missed payments: If a payment bounces, the lender can charge one dishonoured payment fee of up to $20.
- Early repayment: you can repay early without a prepayment penalty.
- Disclosure: your written agreement must show the amount, the total cost in dollars, the APR and every due date before you sign.
- No extras: a lender can't require insurance or charge you anything upfront.
You may still see the old provincial maximum of $17 per $100 on some Manitoba pages. Since January 1, 2025, the federal cap of $14 per $100 applies, so any lender quoting more than $14 is charging more than the law allows.
Applying online from anywhere in Manitoba
You can apply for an online or e-Transfer payday loan from anywhere in the province, including Winnipeg, Brandon, Steinbach, Thompson, Portage la Prairie, Winkler, Selkirk and Morden. The same provincial rules apply whether you live in a large city or a small town, and whether you borrow online or at a store.
To apply, you'll need to be at least 18 (the age of majority in Manitoba), have had regular income for three months or more, and have an active Canadian bank account. See how it works for the full process.
How to check a lender's licence in Manitoba
Payday lenders in Manitoba are licensed and overseen by Manitoba's Consumer Protection Office. A legitimate lender will show its licence number on its website and in your loan agreement. If you can't find it, check the regulator's public list before you sign anything, and walk away from any lender that asks for money upfront.
If you're struggling to repay in Manitoba
Contact your lender before the due date and ask about a payment plan. A non-profit credit counselling agency can review your budget for free, and Consumer Protection Office can help if you believe a lender broke provincial rules. Our responsible lending guide lists more options.