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If you are looking to settle a bill or an urgent issue but your paycheck day is still far, using cash advance apps can be a good alternative.
This is because their quick funding feature offers a halfway solution to the problem.
For this reason, I have compiled a list of the best cash advance apps that can be of help to you.
Researches show that more than 40% of Americans are unable to make ends meet. Usually, there’s always something to settle before the paycheck day and that is why people go for alternatives like paycheck advance apps.
Cash advance apps help you make it from one payday to the next by either giving you access to your paycheck earlier than usual or granting you cash advances to pay back when you receive your paycheck.
This way, if you need an urgent fund to take care of rent or the car, you have access to funds to cover it without paying high interest or fees.
Ensure the dog isn’t uncomfortable before reading to know the best cash advance apps available for you.
Before that, take a look at the table of contents.
What Are Cash Advance Apps?
Cash advance apps are apps that allow you receive a short-term loan that can be of use pending till you receive your paycheck. It’s a service provided by most credit cards and charge card issuers that allow their cardholders to withdraw cash up to a certain limit.
Generally, these apps are free or charge a little fee, but they don’t charge interest on the loan. This makes them attractive to borrowers because they offer fast approval and funding.
These paycheck advance apps are an inexpensive alternative to payday loans or credit cards as they help you solve your cash flow issues and handle matters of emergencies when they pop up.
Now that you have a good understanding of what cashback apps are, let’s look at some of the best cash advance apps below.
What Are The Best Cash Advance Apps?
Here are some of the best cash advance apps that can allow you withdraw up to $100 before your paycheck day.
Empower is a robust financial app that allows you to get cash advance up to $250 once per pay cycle without any charges or interest rate. Once you subscribe to this app, you have automatic access to its other features like budgeting, saving, and some financial tips to help you get out of the paycheck cycle and constant need for cash advances
This paycheck cash advance app uses your banking history and activity- direct deposit, and average monthly deposit to determine if you are eligible for a cash advance. You can make regular deposits to your Empower checking account to be instantly qualified for a cash advance. This checking account has an interest rate of 0.25%APY.
Empower is free for the first 30 days. Afterward, it charges an amount of $8 monthly to renew your access to its robust money management features.
To learn more about Empower and sign up for your cash advance, click the link below to download from google store.
Another one of the paycheck advance apps is MoneyLion. This app offers a free cash advance up to $250 straight to your account without any interest rate or signs up fee. To get this cash advance from Money lion, all you need to do is install the app and signup for your own cash advance. Like Empower, you must have funds directly deposited into your account.
MoneyLion gives you access to some banking features like checking services, credit monitoring, investment management all without the bank hassles. You can also get a special feature called “Credit Builder’ that grants you a credit loan of $500 at 5.99 APR. It is available for people with poor credit.
MoneyLion has two membership levels- free core membership and paid plus membership. The paid plus membership costs $29 per month and gives you unlimited access to all the features on this cash advance app. However, you don’t need the paid plus membership to access the cash advance.
To download the app from google store and get started, use the link below.
Earnin is one of the first paycheck advance apps. Its goal is to ensure that workers break free from the paycheck cycle by allowing them to access their money anytime they please. This free cashback app allows you to withdraw up to $100 initially and then $500 as you use the app.
This app offers other features asides from cash advancement which includes; Balance shield, cash-back rewards, savings, and health-aid. Once you get your paycheck, Earnin deducts the exact amount.
However, to effectively use the Earnin app, you must have a checking account at a supported bank and be employed in a physical place. Although this cash advance app offers cash advances with no interest or fee, you can optionally add tips to the company. The app recommends 4%.
The Earnin app can also be used as a shopping app to help you earn cashback. If you shop within the app and pay with your Earnin account, you can get back between 1% – 10% on your purchases.
To download the Earnin app and learn more about it, use the link below.
Another one of the cash advance apps is the Dave app. Dave creates an online checking account that helps you plan your expenses. It analyses all the expenses being made and once you try to overdraft your account, they send a notification.
In addition, you can get a cash advance of up to $100 until payday–no credit check required. Dave deposits the money directly in your account and deducts it when you get paid.
Other features in the Dave app include; ability to freeze and unfreeze your ATM card, a budgeting platform, alerting you of new side hustles in your area. Dave has a monthly fee of $1 but to offset the fee, you can connect your debit card and earn extra credits!
To download the Dave app from google store and get started, click the link below
One of the best cash advance apps is the Brigit app. Brigit offers a cash advance up to $250 deposited directly into your account with no credit check or fee needed. You can also file for an extension on your advance up to three times. There are no penalties or fees to do this. When your paycheck comes, Brigit automatically deducts the money out of your bank account. You can also opt to pay back the loan at an earlier time.
Another feature of Brigit is that it notifies you when your account is running low for you to request an advance and prevent the bank from charging you overdraft fees.
However, to be eligible for the cash advance, you must meet some requirements for Brigit. Some of which include;
If you don’t meet the criteria mentioned above, you can still use their variety of budgeting tools to help you get your finances back on track.
To download the Brigit app from google store, click the link below
Unlike other cash advance apps, Varo is a mobile banking platform that allows you to get your full paycheck two days before the due date without any fees. They are known for their live customer service which ensures that you have all your questions answered and expert assistance at your reach.
Other features on the Varo app includes;
If you would like to install the Varo app from google to see the features for yourself, click the link below.
Just like Varo, Chime is a full-service mobile banking platform that creates a dynamic online banking experience by giving its users access to their paychecks two days before its due date with no extra fees attached. A paycheck advance option is a new option for them.
If you have a Chime account with a direct deposit, your wages become available to you immediately your employer deposits them into your account.
Other benefits associated with being a Chime app user includes;
To learn more about Chime and to download the app, click the link below
Unlike some payday advance apps, PayActiv isn’t something you use on your own. Instead, your employer offers it to you as a benefit. The core feature of the PAy Activ app is what it calls “earned wage access,” or EWA, which is the ability to collect your wages as soon as you earn them.
PayActiv allows you to collect up to 50% of any wages you’ve earned, which is up to a maximum of $500. You can transfer the money to your bank account or to a prepaid card, use it to pay bills online, or even receive it in cash through a special PayActiv ATM.
The app charges a fee between $0 and $5, each time you use it depending on your employer’s program. PayActiv also helps you track your spending and reduce debts, make a budget, automate your savings, set up direct deposit at your bank, and pay bills automatically.
To learn more about PayActiv either as an employer or employee, click the link below.
Just like PayActiv, DailyPay is another app for employers to offer as a benefit. it gives you access to an amount of the wages you’ve earned before payday.
For each hour you’ve worked, you build up credit in your DailyPay account, which you can then transfer to your bank account at will. The app charges a fee of $1.25 per transfer to receive your money by the next business day or $2.99 to receive your money instantly.
When it’s payday, you receive your regular paycheck minus any advances you’ve requested. DailyPay also lets you activate automatic transfers at desired times.
Click the link below to get started either as an employee or employer
Branch is another payday advance app given to employees by their employer. Workers can change their shifts, request time off, and access the wages they’ve earned early. To access its cashback feature, you must have double deposits of $40 each with your employer.
While Branch does not charge any interest, you may have to pay a fee. This depends on how you request the money. Advances paid to your Branch debit card or to your bank account using the standard transfer are free.
The Branch app also lets you build a portfolio as a worker and create a budget.
To learn more about Branch, use the link below
The FlexWage app works a little differently from DailyPay and PayActive. It offers paycheck advances and also lets you request an advance. However, your employer decides the limit to the advance and how often that feature will be available. The fee paid for this service also depends on your employer.
This cash advance app has an additional feature, called “FlexPay” which is specifically for tipped employees, such as waiters. It allows them to receive all their tips immediately on their pay card at the end of their shift. It’s faster than waiting for tips submitted with a credit card payment and safer than leaving work with a large sum in cash.
Flexwage also lets you link your financial accounts aand create a budget immediately.
See more about the FlexWage app by clicking the link below.
Possible is another one of the best cash advance apps there is. This app lets you request loans up to $500 within minutes. It has a repayable amount for any amount you borrow.
There are no fees to signup on the app. To determine your eligibility for cash advance, the lender examines your work history and regular pay schedule to either accept or decline loan applications. Possible also doesn’t check FICO scores to determine your eligibility.
To learn more about Possible and download from google store, click the link below.
#13. Wealthfront Cash Account
This paycheck advance account gives you access to your paycheck two days before its due date. When you set up a direct deposit on your Wealthfront cash account, the money can enter your account up to two days before your official payday, depending on your payroll provider.
The Wealthfront Cash Account offers a good interest rate and no account fees or monthly maintenance fees. You can make an unlimited number of transfers into and out of your account each month at no cost. You can also make payments directly from your account or withdraw cash with no fees through a nationwide network of ATMs.
And, unlike most banks, it covers insurance for the cash in your account up to $1 million —this is more the amount covered by the Federal Deposit Insurance Corporation.
To know more on how the Wealthfront Cash Account works, click the link below
Even is a cash advance app offered by employers to their employees. The employer may choose to offer the app for free, subsidize it, or ask you to pay for it.
If you have to pay for it yourself, the membership plan is $2 per week. This plan gives you access to earned wages at no additional cost and the Instapay feature which lets you get cash advances.
Aside from Instapay, your Even membership plan also gives you access to a number of other tools that aim to provide you with control over your finances.
One way Even differs from other apps is that if you don’t use it for about two months, the company stops charging you while still giving you access to any savings you might have with them.
Click the link below to learn more about Even app.
Another cashback app is Vola. This app offers cash advances of up to $300 which you would receive within 24 business hours. However, to be able to access this cash advance feature, you will pay a membership fee that starts at $4.99 per month.
This paycheck app offers features that let you control your finances and manage your expenses by breaking down your spending habits in such a way that you can be smarter with your money.
It is important to note that to effectively use your Vola account, you must keep an average account balance of $150.
To download the Vola app, use the link below.
My Final Thought
Cash advance apps have proven to be an effective way to solve urgent financial issues. However, it is not the solution to frequent financial crises.
Do well to go through this article and find out which paycheck advance app suits you.
All the best!