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FAQs

General Questions

Borrowell's bill tracking feature is available exclusively on our mobile app. Connect your bank account and we'll do the rest. We'll analyze your historical transactions to identify your recurring bills and predict your future balances. We'll notify you when bills are due or when we predict your balance will run low. Stay organized and never miss a payment.

Borrowell Boost is our premium service that gives you on-demand access to cash advances that can help you pay your bills on time. Available exclusively on our mobile app, subscribe to Borrowell Boost to access $75 interest-free cash advances that are deposited straight into your bank account. Use Borrowell Boost to pay your bills on time and avoid costly bank fees.

We use 256-bit encryption, which is the same encryption banks use to ensure your private information is kept safe and secure. We will never share your personal details or initiate transactions from your account without consent. If you notice suspicious behaviour in your account, please contact your bank directly.

Borrowell's bill tracking and cash advance features are currently available exclusively on the Borrowell mobile app. Click here to download the app!

Yes, you need to be a Borrowell member to use Boost. Signing up only takes a few minutes and is completely free. As a member, you get ongoing access to your free credit score as well as ongoing personalized tips, tools and support to help you improve your finances.

Currently, Boost is available exclusively on the Borrowell App. Click here to download the mobile app!

Making bill payments on time can help you improve and protect your credit score. Your Equifax credit score is based on many factors, including your payment history. In fact, your ability to pay bills on time accounts for 35% of your credit score. Paying bills on time can help you increase your score. On the other hand, frequently missed or late bill payments can have a negative impact on your credit score. Missing 1 bill payment can have a big affect on your credit score — even up to a 150 point decrease. Borrowell can help you make sure you never miss a bill payment again.

Access to bill tracking and Borrowell Boost is currently not available in Saskatchewan and Quebec.

We’re here to help. If you have any questions or concerns about security or features, please contact [email protected].

Bank Account FAQs

Start connecting your bank account from the Bills tab. Simply select your bank from the list, or use the search option. Once selected, use your bank's login info to securely connect your account. You will likely be asked to answer your bank security questions to guarantee safety. We connect to all major Canadian banks and most other financial institutions. If you don't see your bank in the list, we unfortunately do not support it at this time.

Connect your primary chequing account where you pay most of your bills and receive income. We currently do not support credit card, saving, investment or prepaid accounts.

If you are using the free Bills feature, you can change your bank account at any time. Simply go to the Bills section within settings and find the option to change your bank account from the "Bank Account'' section. If you are subscribed to our premium feature, Borrowell Boost, or have an outstanding cash advance, unfortunately you cannot change your bank account at this time. If your bank account has closed, please contact us.

We may lose connection to your bank account from time to time. Don’t worry; this can happen sometimes, but it's easy to resolve. Your bank's security measures may cause third parties like Borrowell to lose connection with your account. You will notice at the top of your Bills dashboard that you need to reconnect your account. Tap that and follow the prompt to answer a security question.

Banks have your best interest to keep your account safe. If you have turned on a security question or a security code option with your bank — in addition to your regular login username and password credentials — this may cause issues for us to establish and maintain a connection to your account. For best results and to maintain a strong connection with Borrowell, you can turn off MFA (multi-factor authentication) and security questions on your bank account. If you have extra security on your account, it is difficult for us to receive real-time updates or maintain a secure connection. We are constantly looking to reduce issues around bank connectivity. You can contact us with any issues or questions.

We update your bank account information once a day, and every time you log to the app. The refresh process will kick-off when you login. Once complete, you can pull to refresh on your Bills dashboard to get your up to date information.

If you are still seeing old bank account information after you pull to refresh, please contact us.

Bills and Income FAQs

Once you securely connect your bank account, Borrowell looks at your historical transactions to identify recurring bills and income to predict future balances. We use data models to identify trends and patterns to help you see what you’ll have in your account and plan ahead.

We do our best to accurately predict your bills and balance, but sometimes we're off. When you first set-up your account, we show you the bills and income we've predicted. You can then edit bills and income by tapping on the overview card on the dashboard, then click on the ‘pencil' icon at the top right corner. You can edit the description, amount or date. If you’re looking to add a new bill or income source, you can find a '+' symbol to the far left of your bills on the dashboard screen.

If we’ve incorrectly identified a bill or income from your transactions, you can simply remove it by tapping on the overview card on the dashboard, then click on the ‘trash' symbol at the top right corner.

We use historical data to identify upcoming bills, so if you have recently cancelled a subscription it may take one month for this to process. You can add, edit or remove bills as you see fit. However, if you notice suspicious behaviour or unknown bills on your account, please contact your bank directly.

Boost Subscription

Borrowell Boost costs $4.99/month.

You can subscribe to Boost after you've connected your chequing account on the Bills tab in the mobile app. Access cash advances to start the upgrade process. The subscription fee will be debited from the account you have connected. You will be charged monthly based on the date you first subscribe on. (ex. If you subscribed on May 1, the subscription fee will be debited from your account next on June 1).

In order to subscribe to Boost and get access to cash advances, your chequing account must meet at least 1 of the following sets of criteria:

  1. A minimum balance of $100
  2. A minimum balance of $50 AND an average of $400+ deposits into your account on a monthly basis, or
  3. A minimum balance of $0 AND an average of $700+ deposits into your account on a monthly basis

You were disqualified because your bank account did not meet our qualification criteria. You may also have been disqualified because your bank account is not currently supported, or there was an issue verifying your account. Please contact us if you have any questions.

You are free to unsubscribe or cancel anytime. Once you unsubscribe, you will be able to use Boost for the remainder of the time left on your subscription period. If you have an outstanding advance, it will be automatically deducted from your account on your selected repayment date. Deleting the app or deactivating your Borrowell account does not mean you have unsubscribed to the monthly subscription.

You can unsubscribe at any time from settings. Head to the Bills section in the mobile app settings. From there you can manage your subscription and select the unsubscribe option. When you unsubscribe, you will have access to cash advances for the remainder of your subscription month. Once the month is over, you will automatically be downgraded.

Before we debit the subscription fee from your account, we check your balance to see if you have enough funds. If you do not, we'll reschedule the payment for the following day. We will attempt this for 28 days, during which you will not have access to cash advances. After 28 days, you will automatically be downgraded.

We do our best to charge you on the subscription renewal date, however depending on your bank's processing time, you may be charged on the following business day. We also check your bank balance before charging you the subscription fee. If we notice you do not have enough money in your account to pay the fee, we will attempt to charge you the following day.

If you have taken a cash advance, you must repay it before unsubscribing.

You can find a copy of your Boost Agreement or the PAD agreement by going to “Settings” in the app, then go to the Bills section.

Cash Advances

You can get access to $75 cash advance on-demand by subscribing to Borrowell Boost. Upgrade to Borrowell Boost once you've connected your bank account on the Bills tab in the mobile app.

There is no separate fee for the advance itself - it’s completely interest-free. Borrowell does charge a monthly subscription fee of $4.99 +tax for Borrowell Boost.

The $75 advance is a zero-interest loan underwritten by Borrowell. Borrowell has access to its own capital that is used to fund the cash advances.

You can take as many cash advances as you like, as long as you've repaid a previously cash advance. You can only access one cash advance at a time.

It takes up to 1 business day for the funds to reach your account. We process advances Monday through Friday (excluding banking holidays). We’ll typically post funds to your account earlier than the next business day, but actual posting time depends on your bank.

It takes up to 1 business day for your funds to arrive. Don't worry - it's coming. If your funds have not been deposited by 2 business days, please contact us.

You cannot cancel a cash advance once it's been requested. If you no longer need the cash advance, wait until it has been deposited and you can rescheduled your repayment to an earlier date to pay it back.

You cannot cancel a cash advance once it's been requested. If you no longer need the cash advance, wait until it has been deposited and you can rescheduled your repayment to an earlier date to pay it back.

You need to make sure that you've paid back your last $75 advance. Once your repayment is processed on your selected auto-repay date (which can take up to four business days), you'll be able to click the $75 advance button and request another one.

Borrowell Boost is meant to help you pay your bills on time and provide a short-term bridge between paycheques. If you need more funds, please see our other options for personal loans.

Repaying Cash Advances

Borrowell automatically collects the funds on the repayment date you selected when requesting the cash advance. Before we collect, we check your bank account balance to ensure you have enough funds and won't incur any bank fees.

You can choose the best day to auto-repay within 15 days. Borrowell will automatically suggest an auto-repay date that aligns with your next payday.

It takes 4 business days for us to process your repayment.

If you believe you have the funds in your bank account but we are not automatically processing the repayment, we may not have up to date information from your bank. First, pull to refresh your data from the Bills dashboard. If your bank account balance in the app still is not reflective of the balance you see with your bank, please contact us.

You can change your repayment date once the cash advances have been deposited. Head to the cash advance section in the Bills tab to change the date. You can select a date from within 15 day of your original request date.

Before collecting the funds, we check your balance to make sure you have enough money in your account. We don't want you to be charged fees by your bank. We will reschedule your repayment to the next day. However, it is still your responsibility to make the repayment. Please make sure you have money in your account as soon as possible.

We charge no late fees or penalties if you miss your repayment day. However, it is still your responsibility to make the repayment. Please make sure you have money in your account as soon as possible.

Additional Support

We’re here to help. If you have any questions or concerns about security or features, please contact [email protected].


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Borrowell® is a registered trademark of Borrowell Inc. All Rights Reserved. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to determine your credit profile. The score provided to you for educational use is the Equifax Risk Score.


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