Payday loans in British Columbia
From Prince George to Penticton, BC borrowers get the same federal price cap plus a provincial licensing system that publishes exactly who's allowed to lend.
- Maximum cost
- $14 per $100
- Largest loan
- $1,500
- Cancel within
- 2 business days
- Rollovers
- Not allowed
Are payday loans legal in BC? Yes, from lenders licensed by Consumer Protection BC. The maximum cost is $14 per $100 borrowed, a loan can't exceed 50% of your net pay or $1,500, you can cancel within two business days at no cost, and rollovers aren't allowed. Repeat borrowers have the right to an instalment plan.
Who keeps lenders in line
Consumer Protection BC licenses every payday lender serving British Columbians and keeps a public list you can search by name. It also takes enforcement action against unlicensed operators, which matters because some offshore websites target BC residents without a licence. If a site can't show you a BC licence number, move on.
Rules you'll notice
- 50% of net pay. If you bring home $1,600 every two weeks, the most you can borrow is $800.
- Two business days. Cancel within that window and you repay only what you borrowed.
- No rollovers. A lender can't extend your loan by charging another fee.
- A path out for repeat borrowers. If you take a third loan within 62 days, you can ask for an instalment plan.
The BC money squeeze
Housing eats a bigger share of income in BC than almost anywhere else in Canada, and that leaves little room for surprises. A payday loan can bridge a single gap, like a vet bill or a deductible after a fender-bender. It can't fix a rent level that's simply too high for your income. If the bill is from BC Hydro, ask about its Customer Crisis Fund, which helps eligible residential customers facing disconnection because of a temporary crisis.
British Columbia city guides
BC borrowers' questions
How much can I borrow on a payday loan in BC?
Up to 50% of your net pay for the pay period, to a maximum of $1,500.
How do I check if a lender is licensed in BC?
Search the lender's name on Consumer Protection BC's public list of licensed payday lenders.
Can a BC lender charge more than $14 per $100?
No. $14 per $100 is the federal maximum, and it covers every charge connected to the loan.
Reviewed in October 2026 against Consumer Protection BC's payday lending rules.