Through the use of Zippy Cash, our clients are able to continue their daily lifestyles with the assistance of our friendly, knowledgeable staff. We promise to aid our clients in a timely manner leaving everyone with the satisfaction that clearly surpasses all expectations of a payday loan company experience.

It is important to us to make sure your information is kept secure and private. See our Privacy Policy for more information.

Zippy Cash has done it again with their verification of employment

Press Release

Staff Writer

Zippy Cash is an online payday loan company that verifies each and every application that they receive prior to approval. Before, the only way we verified an application was to contact the applicants' HR Department of the company that the applicant worked for. It could take days before the approval process was complete. We realized that a lot of consumers did not like having us contact their HR to verify their information.

Zippy Cash has now come up with three (3) fast and easy options for you to submit your verification, and get your loan deposited.

Option 1 - Using our easy screenshot utility that allows you to download the program and to follow the instructions to send us a screenshot of your online banking. We do this so that we can verify that your direct deposit is being deposited by the employer that was stated in the application, correct monthly income and verifying the pay period.

Option 2 - fax us a current pay stub

Option 3 - if you receive an electronic pay stub you can simply email to us.

It's that simple to verify your information and no one needs to know that you are applying for a payday loan. We at Zippy Cash feel that when customers apply for a new payday loan that they don't need the hassle of everyone knowing.

---

Zippy Cash - Different methods to pay your payday loan

Zippy Cash is a short-term loan company that prefers to have their client's pay back their loans by debiting their bank or credit union account on each pay period.

However, if you are unable to pay by having your account debited, there are other options. First off, if you need to use one of the alternate methods to make your payment, you will need to email customerservice@zippycash.ca or contact one of our friendly customer service representatives at 1-877 Zippy Cash to make these arrangements.

Here is a list of the different payment options available and a brief description of each.

1. Cheques - You can mail us post dated cheques payable to Zippy Cash to 310 Fairway Road S, Po Box 45089, RPO Fairview, Kitchener, Ontario (Attention: Payments Department)

2. Email Money Transfer - On our website under payment options please follow the steps to send us an email money transfer. Your bank will charge a fee of $1.50 for this service.

3. TD Bank Credit Memo - This is free you just need to go to any TD bank even if you do not have a TD account. On our website under payment options it will provide you with the TD account number to deposit the funds into and the steps to take.

Zippy Cash is allowing their customers to be able to make their payment in more than one way to pay their payday loan back. Just remember if you choose one of the payment options that are not coming from your bank account, you will need to contact customer service. We do recommend the easiest way to pay back a payday loan is with a direct debit from your bank or credit union account.

---

Zippy Cash - Ontario Proposes Rate Cap on Payday Loan Lenders

Press Release

Staff Writer

It seems that some members of the Provincial Government will never be satisfied with payday loans. Who would be since, they believe, payday loan companies only lend to people who collect welfare, or are low income earners and price gouge? Zippy Cash simply doesn't do any of the negative things that some people think about when it comes to payday loan companies.

Reports claim that low-income earners get trapped in a "spiral of easy loans in which they are unable to pay them back". Time to set some things straight; Zippy Cash has certain criteria that needs to be met in order to get a payday loan. This includes having a full time job and being able to prove your income. If you are unemployed, you do not qualify for a loan. There is also a requirement on the amount of money that you take home with your pay. If it is not met, you do not get a loan. Zippy Cash will only give loans to those that we feel are able to pay them back on time.

Now just recently, the Ontario Government has proposed a rate cap of $21 for each two week $100 payday loan. Zippy Cash does charge a little more than the proposed rate, we charge $30 over a two week period. However, this rate is not "astronomically high" as some might say. A recent article on February 6, 2009 on thestar.com states "even the best payday lenders are making 'unspectacular returns' with the average profit margin on a loan hovering around 6.9 per cent, below the 2007 national average of 8.8 per cent for all industries". So look at it this way. You have a $100 bill payment due tomorrow and you don't get paid for another two weeks. Do you let it bounce or borrow some money? It might cost you $30 to borrow until your next payday but most banks and financial institutions charge $42.50 for an NSF, and then you also get charged from the company that you NSF'ed. Who's the one really gouging here?

---

PAYDAY LOAN DEFINITIONS

Definitions:

Additional funds: more money requested or issued

Advance (verb): to improve or further; to supply; a promotion; to go forward

Applicant (noun): a person that applies

Application (noun): "a form to be filled out by an applicant" to request something

Apply now: new customers can go to the website and fill out an application for a payday loan or cash advance

Approved: a submitted application that is accepted for a loan

APR: annual percentage rate; a rate that is charged on any loan borrowed; usually higher for payday loan companies since it is based on a two week loan

Bank account: "is a financial account with a banking institution recording the financial transactions between the customer and the bank and the resulting financial position of the customer with the bank;" account can be in the positive or negative where debit is owing

Bill 48: a new law that will promote consumer protection and regulates the payday loan industry. The third reading was passed on June 9th 2008

Borrow (verb): to take with intention of returning same or equivalent; to use from another source; to borrow something with the intent to repay

Borrower (noun): a person who is given something with the promise to return the same or equivalent

Borrowing fees: interest fees that are charged with each loan borrowed

Business (noun): "an occupation, profession, or trade;" the sale of goods or a service in order to make a profit

Canadian online payday loan industry: an industry that provides consumers with easy to fill out applications on the net to apply for a cash advance

Canadian payday loan: a loan provided within the Canadian provinces with the intent to pay back on an indicated payday

Canadian payday loan industry: a sector emerging in "early to mid- 1990s in response to a demand for small-sum, short-term credit"

Cash (noun): money in form of currency

Cash advance (noun): also referred to as a payday loan; a loan given in anticipation of the borrower's being able to repay it

Cheque cashing services: providers that "cash third-party cheques immediately with adequate personal identification and for a fee, usually a fee per cheque and a percentage f the face value of the cheque"

Chequing account: each banking institution has various account features to suit each individual, but mainly these accounts are for day-to-day transactions and purchases

ClicknCash.ca: a leading online payday loan company issuing funds to residents in British Columbia, Alberta and Ontario

Client (noun): an individual who has an account or file with the company

Client login: access that is granted with a user name and password

CPLA: Canadian Payday Loan Association; comprises 21 companies including 519 financial service retailers across Canada; provides payday loans to over two million Canadians per year; strive to work with governments to maintain regulation in order to provide a viable service and best business practices for consumer protection.

Company (noun): a group of people assembled together; associated with one another; guest(s); collective society for social purposes

Consumers: "a person who uses goods or services"

Day (noun): a unit of time equivalent to twenty four hours

Debt (noun): something that is owed; created from owing a debtor, granted with expected repayment plus interest; an obligation to pay; what one person owes to someone else

Deposit (verb): the act of transferring money into an account

Deposit account: a bank account held at an institution that can be withdrawn or deposited by the account holder; balances and transactions are recorded

Direct deposit: an electronic deposit into your bank account

Easy cash advance: a short term loan to meet immediate needs until the next payday

Employment (noun): the state of being employed; earning a living by paid occupation; working full time or part time
        Full time (noun): working the usual number of hours in each day, week or month
        Part time (noun): "a period of time that is less than the usual or full time"

Existing customers: those individuals who previously submitted an application that was approved

Fast cash: borrowed money immediately deposited into a personal bank account

Fees: "the price one pays as remuneration for services"

Financial gap: when you need extra funds to meet your financial needs between paydays

Fixed interest rate: a loan that remains at a predetermined rate for the entire term of the loan

Instant approval: upon completion of an application, immediate indication that application was approved or declined

Internet (noun): "an interconnected system of networks that connects computers around the world"

Internet lending: marketed through email, online search, paid ads, and referrals; applicants complete an application online and money is transferred into their account

Leading online payday loan provider: the number one company on the net providing cash advances

Legislation: a law which has been enacted by a governing body; known as a bill before it becomes law; the bill is under active consideration

Lend: to provide the use of something with the condition that it will be returned; interest to be paid back if money is given; to contribute obligingly or to give aid

Lend: (verb): temporary usage with condition of it to be returned or its equivalent; repayment with interest; to provide assistance

Lender: a person that provides money or credit in relation to business

Loan:
(noun): type of debt; money received from the lender in which the borrower pays back plus interest; a legal promise to repay a debtor; something lent for temporary usage; a physical transaction, of money or goods
(verb): to lend at interest
(idiom): on loan; borrow for temporary usage

Loan: (noun): money lent for the borrower's temporary usage; lent with interest

Loan application: "an application to borrow money"

Loan calculator: calculates the cost of borrowing a loan; indicates the fees amount based on the next payday

Lowest payday loan rates: a company that provides minimal interest for borrowing a loan

Maximum amount: the most money that can be borrowed, usually $500 for a payday loan

Minimum amount: the smallest amount that can be borrowed, usually $50 for a payday loan

Non sufficient funds (NSF): a returned payment that did not clear a bank account

Online payday loan: a loan requested from the world-wide web

Online payday loan application: an application filled out online for the purpose of obtaining a payday loan, deposited directly into your bank account the same day

Online payday loan service: a company that operates through the net offering payday loans to consumers

Ontario payday loan: a payday loan issued in the province of Ontario

Ontario payday loan legislation: a new law passed on June 9, 2008 that will regulate the payday loan industry and provide consumer protection

Pay:
(verb): a wage or salary earned for work; to give money for something; to give compensation for; to give over in exchange for something; to give or render; to transfer money to settle a debt; to settle an obligation
(noun): the act of receiving a payment or being paid; wages or salary; paid employment
(adjective): pertaining to a payment; something becomes accessible with the deposit of coins; payment for service or use

Pay back: to make a repayment or return; to punish or get revenge; to seek retaliation

Pay day: "the day on which you receive pay for your work"

PaydayPayday.ca: a leading payday loan website that matches you with the best online lenders

Payday cash advance: an amount that is given in advance of next payday

Pay down: partial payment at time of purchase with intent to pay remaining balance in installments; to pay back or to pay off

PayMart.ca: leading online payday loan site that provides access to immediate funds

Pay off: to give money to pay everything that is due; payment in full; (used informally) to bribe; also refers to a result in success or failure

Pay out: disburse; to punish or get revenge for

Pay up: to pay full balance; a demand to pay in full

Payday loan (noun): a small short-term loan (usually between $50-$500) plus interest that is paid back on your next payday; it is intended to cover a borrower's immediate expenses

Payday loan: "is an advancement of money in exchange for a post-dated cheque, a per-authorized debit, or a future payment of a similar nature but not for any guarantee, suretyship, overdraft protection or security on property and not through a margin loan, pawn broking, a line of credit, or credit card. The typical payday loan is for 1 - 14 days"

Payday Loans Act, 2008: "an Act to regulate payday loans and to make consequential amendments to other Acts"

Payday loan customer: an individual who borrows funds before their next payday

Payday loan service: a company that provides consumers with fast and easy cash advances

Payday loan legislation: a new law that provides increased consumer protection and a more viable industry

Payroll advance: cash provided by request before your next payday

Personal bank account: an account held at an institution (chequing or savings)

Personal loan: "loan that establishes consumer credit that is granted for personal use; usually unsecured and based on the borrower's integrity and ability to pay"

Poor credit history: bad credit or no credit; payday loan companies do not need to know about your credit history; the loan agreement is between the client and the company

Pre-approved: an application that is automatically approved based on the answers provided on the application; the application will be reviewed and verified

Retail lending: visiting a walk in store to secure a small cash loan

Rollovers: fees due (minimum payment) on a client's payday, the loan is then renewed

Savings accounts: a personal account at a banking institution that holds your funds and applies daily interest

Short-term (adjective): refers to a short period of time; pertains to one year or less

Short-term loan: a cash advance provided with the intent of paying back plus interest within a two week period, usually on the consumers next payday

TheBlueHog.com: one of the newest site launched providing access to payday loans in Canada

TheRipeApple.ca: newest addition to the online payday loan industry

Wage: "a compensation workers receive in exchange for their labor;" includes cash being paid; salaries that are paid periodically with the contract between the employer and employee

Web's leading online payday loan provider: the top company providing cash advances

Week (noun): seven days in succession; usually starts with Sunday and continues until Saturday

ZippyCash.ca: a leader in the online payday loan industry

Sources:
http://www.wikipedia.org
http://www.howitworks.net/how-payday-loans-work.html
http://dictionary.reference.com/browse/
http://www.britannica.com/dictionary
http://www.tfd.com
http://www.merriam-webster.com/dictionary/loans
http://zippycash.ca
http://www.cpla-acps.ca/english/reports/Hansard%20ON%20Payday%20Loans%20Act%20third%20reading%20Jun%209%202008.pdf
http://www.uwgt.org/whoWeHelp/reports/definitions.php