Once your loan is fully funded, the funds are released to your bank account after a short delay caused by two factors:
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Regulatory hold (2 business days): Canadian securities regulations require goPeer to hold investor funds for two full business days after the loan is funded. This ensures investor protection during the mandatory “cool-off” period.
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Bank transfer time (1-3 business days): After the hold period, goPeer sends your funds via Electronic Funds Transfer (EFT), the same secure network used by all Canadian banks.
In total, most borrowers receive their loan funds within 3-5 business days after the loan is fully funded.
We understand this delay is not ideal and continue to explore faster, compliant options.