Cash & Payday Advance Apps

If you live paycheck to paycheck, cash advance apps are a tempting solution to short-term money problems, such as rent, car trouble, or any other financial emergency that requires cash.

Cash advance apps – also called payday advance apps – allow you to borrow money in advance of your paycheck. A new player in the field — earned income, or wage, access apps — allows you to take money you’ve already earned during a pay period.

Most lenders pull the repayment out of your bank account on payday.

Cash advance app providers are financial technology (fintech) companies. They don’t charge the high interest traditional payday lenders do but make their money on subscription and instant payment fees. Those fees often represent what would be considered high interest on a traditional loan. On the plus side, most of the apps don’t report to credit bureaus, so missed payments don’t affect your credit score.

The best way to make it from paycheck to paycheck without resorting to bailouts from cash advance apps is to stick to a budget, which includes an emergency fund for unexpected expenses.

If you are considering using a cash advance app, do your research. Find one that’s a good fit for your financial situation.

The Best Cash Advance Apps

There are a lot of cash advance apps out there to choose from. The “best” cash advance app is the one that fits your financial needs and situation. Here’s a tip as you research apps: Most standard transfers will go into a bank account in one business day, so if you don’t need the money that day, avoid paying an instant payment fee and go with the standard process. (Apps listed don’t have transaction or late fees unless noted. None charge interest.)

Albert

Key Takeaways:

Albert provides up to $250 in cash advances with no credit checks, interest, or hidden fees. Albert Genius offers access to a team of financial experts ready to offer tailored advice and support for your financial goals.

How it works:

Albert’s payday advances require you to enroll in Albert Genius, the app’s accounts and budgeting tool. It’s free for the first month, then $14.99 after that. It auto-renews unless you cancel.

• Type of cash advance: Payday
• Maximum amount: $250
• Fees: $11.99 for basic, $14.99 for Genius, $21.99 for Genius+.
• Standard processing time: 2-3 days
• Repayment terms: Next Payday
• Covers overdraft fees for insufficient repayment amount: Yes.
• Eligibility requirements: Connected bank account open for at least two months; balance greater than $0; consistent income for at least two months from same employer; most recent paycheck received on time with money still available 24 hours after payday.

Pros of Albert:

• Albert offers up to $250 in cash advances without interest or hidden fees.
• The app combines budgeting, saving, and spending insights in one platform.
• Albert Genius provides personalized advice from financial professionals to guide your financial decisions.

Cons of Albert:

• Accessing Albert Genius and certain advanced tools requires a monthly subscription.
• Unlike some competitors, Albert lacks direct investing features, limiting its appeal for users seeking a one-stop financial app.

Brigit

Key Takeaways:

Brigit provides cash advances to help you avoid overdraft fees and cover unexpected expenses without credit checks or interest. The app includes financial insights, expense tracking, and personalized tips to help you manage your budget effectively. Its credit monitoring and reporting tools can help you improve your credit score.

How it works:

Brigit gives those who apply a Brigit Score of 0-100 based on bank account health, spending behavior, and earnings profile. A 40 is the minimum needed to qualify for a cash advance. Once you qualify, you must enroll in Brigit Plus for $9.99 a month to access Instant Cash.

• Type of cash advance: Payday
• Maximum amount: $250 (most applicants qualify for $50-$100)
• Fees: $9.99 monthly for Plus Plan, which is required for advances; $14.99 for premium; $0.99-$3.99 instant payment fee.
• Standard processing time: 2-3 business days
• Repayment terms: Choose a payment date, but typically next payday; three on-time payments earn an extension credit that can be used for a one-time payment extension.
• Covers overdraft fees for insufficient payment amount: Partial repayment in some cases.
• Eligibility requirements: Checking account open for at least 60 days; balance is greater than $0; at least three recurring deposits from same employer or deposit source.

Pros of Brigit:

• Offers up to $250 in cash advances with no hidden fees or interest.
• Provides financial insights and budgeting tools for better money management.
• Includes credit-building features to improve your credit score over time.

Cons of Brigit:

• Requires a monthly subscription for full access to premium features.
• Only available for those with qualifying income and bank accounts.

Chime

Key Takeaways:

Chime has no monthly fees, no overdraft fees (up to a limit), and access to over 60,000 fee-free ATMs. Get paid up to two days early with Chime’s direct deposit feature, helping you access your money faster. Automate savings with features like round-ups on purchases and percentage-based transfers from your paycheck.

How it works:

Chime differs from most other cash advance apps in that it’s not really a cash advance. You list Chime Get Paid Early with your employer as your direct deposit account, and when Chime gets the money, it makes it immediately available, instead of holding it for processing for a day or two like some banks (though more banks are moving toward the same model). As with traditional banks, Chime takes weekends and holidays off.

• Type of cash advance: Early pay, overdraft coverage
• Maximum amount: NA for Get Paid Early; $20-$200 in overdraft protection (depending on how long you’ve had account, credit history).
• Fees: None
• Standard processing time: Paycheck may appear in Chime deposit account earlier than in an account at other banks; Chime makes the money available to you as soon as your employer sends it to Chime.
• Repayment period: NA for Get Paid Early; next payday for overdraft coverage.
• Covers overdraft fees for insufficient payment amount: Yes, with qualifications.
• Eligibility requirements: Chime checking account and payroll direct deposit.

Pros of Chime:

• No monthly fees, overdraft fees (up to a limit), or minimum balance requirements.
• Early direct deposit feature lets you access your paycheck up to two days sooner.
• Offers automated savings features for easy financial growth.

Cons of Chime:

• Customer service options are limited to online and app-based channels.
• Doesn’t support joint accounts or shared banking.
• Some services, like cash deposits, may have fees at partner locations.

Current

Key Takeaways:

Current offers early direct deposits, instant gas hold removals, and speedy money transfers to keep your finances moving smoothly. Earn cashback on purchases and benefit from savings pods to easily set and reach your financial goals.

How it works:

Current, like Chime, allows account holders who have their pay directly deposited to get it up to two days early. Current Overdrive provides $25-$200 optional fee-free overdraft protection for accountholders with at least $500 of their pay directly deposited into the account. The amount is deducted on the next payday. ATM withdrawals, bill pay, and ACH withdrawals (automatic monthly credit card and other payments) aren’t eligible for overdraft coverage.

• Type of cash advance: Early pay, overdraft coverage
• Maximum amount: NA for early pay; $25-$200 for overdraft protection (depending on length of account history and creditworthiness).
• Fees: None
• Standard processing time: Immediate
• Repayment period: Current will take any money deposited into an account to pay for its overdraft protection until it’s covered. If it’s not paid in 60 days, Current may restrict or close account.
• Covers overdraft fees for insufficient payment amount: Yes, with qualifications.
• Eligibility requirements: Current checking account and payroll direct deposit.

Pros of Current:

• Offers early direct deposit and instant gas hold removals for faster access to funds.
• Includes cashback rewards on purchases and savings pods for financial goals.
• No overdraft fees (up to $200 with qualifying accounts).

Cons of Current:

• Features like cashback rewards may have limited partner availability.
• Cash deposit options can be inconvenient or costly.
• Not ideal for users seeking investment tools.

DailyPay

Key Takeaways:

DailyPay lets you access your earned wages before payday, giving you financial flexibility when needed. Transfer your earnings instantly to your bank account, debit card, or pay card with just a few clicks. Avoid payday loans and overdraft fees with transparent fees that do not impact your paycheck schedule.

How it works:

DailyPay is an earned income, or wage, access app, meaning you can retrieve money you’ve earned during a pay period before payday. Employers must agree to use DailyPay, which means they must have the cash flow to provide the early money. Up to $1,000 a day per pay period can be transferred to an account or debit card. The balance is directly deposited into your account on payday.

• Type of cash advance: Early pay
• Maximum amount: Earned net income, up to $1,000 a day (depending on employer).
• Fees: Instant transfer fee up to $3.49
• Standard processing time: 1-3 business days
• Repayment period: NA
• Eligibility requirements: Employer must participate.

Pros of DailyPay:

• Provides early access to earned wages, giving financial flexibility before payday.
• Seamlessly integrates with many employer payroll systems.
• Transparent fee structure without hidden costs or interest.

Cons of DailyPay:

• Fees for each transfer can add up for frequent users.
• Not suitable for users who need long-term budgeting or savings tools.

Dave

Key Takeaways:

Dave offers interest-free cash advances to help you cover expenses and avoid overdrafts before payday. The app provides tools to track expenses, forecast upcoming bills, and manage your budget effectively. Build your credit with Dave’s ExtraCash feature and responsibly manage your financial growth.

How it works:

Dave is a cash advance app that works best for people who aren’t living paycheck to paycheck. The required Dave Extra Cash Account is a spending account in which you keep money, move money into (with a limit of $500), and take money out of up to five times a month. Dave has a higher cash advance maximum than most other apps, $500. The app uses a “proprietary underwriting model” to determine an applicant’s financial health, which sets how much money can be borrowed. Most borrowers get at least $160.

• Type of cash advance: Payday advance
• Maximum amount: $500
• Fees: $1 monthly membership fee; 3%-5% instant transfer fee.
• Standard processing time: Immediate for internal advances; 1-3 business days for external advances.
• Repayment period: Next payday or Friday after advance if no regular payday.
• Covers overdraft fees for insufficient payment amount: NA; Dave won’t process transactions with insufficient funds.
• Eligibility requirements: An email address and bank account are required.

Pros of Dave:

• Provides interest-free cash advances up to $500 to avoid overdraft fees.
• Includes budgeting tools to track expenses and forecast bills.
• Offers credit-building opportunities through the ExtraCash feature.

Cons of Dave:

• Requires a monthly subscription for full access to features.
• Advance limits depend on account history, which may restrict new users.
• Limited investment or long-term financial planning tools.

EarnIn

Key Takeaways:

EarnIn lets you access your earned wages instantly before payday, offering financial flexibility without high fees or interest. Track your balance, set up alerts, and use budgeting features to stay in control of your finances.

How it works:

EarnIn advances $50-$750 of earned income during a pay period, with payment due on payday. It’s kind of a hybrid earned income access/payday advance app. The app doesn’t partner with an employer but uses your employment wage information or GPs, if you work in a fixed location, to determine how much you’ve worked that pay period. The cash advance is based on hours worked. The average payout for new customers is $85. App members who prove financial responsibility can get higher payouts after a few pay periods. Customers don’t pay a fee (except for instant transfer), but voluntarily “tip” EarnIn.

• Type of cash advance: Earned income access/payday.
• Maximum amount: $100 a day/$750 a pay period (depending on length of membership, financial habits).
• Fees: Optional tip; Lightning Speed instant cash transfer fee $3.99-$5.99.
• Standard processing time: 1-3 business days
• Repayment period: Next payday; if balance is insufficient for payment, the daily max allowed goes to $0 and pay period max to $50-$100, which stays until two successful paybacks.
• Covers overdraft fees for insufficient payment amount: No
• Eligibility requirements: Consistent direct deposit pay schedule (weekly, biweekly, semi-monthly, monthly); must earn a minimum of $320 per pay period; one or more of: fixed work location, employer-provided email address, electronic or printed timesheet system.

Pros of EarnIn:

• Access up to $100 per day from your earned wages with no mandatory fees.
• Tip-based model allows flexible payments without interest or penalties.
• Includes financial tools like balance tracking and overdraft alerts.

Cons of EarnIn:

• Limited to users with direct deposits and consistent income.
• Requires a linked bank account and regular employment.
• Daily withdrawal caps may not meet all financial emergencies.

Empower

Key Takeaways:

Empower offers instant cash advances up to $250 with no late fees, interest, or credit checks. It offers access to expert advice and tips tailored to your financial situation to help you grow and save.

How it works:

Empower charges a monthly fee and allows customers to tip. Empower checks your linked checking account when you apply and determines eligibility by consistency of income and transactions. Being overdrawn a lot is a red flag. New customers get a 14-day free trial. It’s up to the customer to cancel by contacting customer service, or they’re charged monthly.

• Type of cash advance: Payday
• Maximum amount: $250
• Fees: $8 monthly subscription after 14-day free trial; $1-$8 instant payment (depending on amount); optional tips.
• Standard processing time: 1-5 days
• Repayment period: Next Payday
• Covers overdraft fees for insufficient repayment amount: Yes (with proof of fee sent to customer support).
• Eligibility requirements: A bank account, a smartphone that can receive texts, a consistent source of income, and acceptable bank transactions.

Pros of Empower:

• Offers comprehensive budgeting and expense tracking tools.
• Includes personalized financial coaching for tailored advice.

Cons of Empower:

• Monthly subscription fee may deter budget-conscious users.
• Limited support for investments or credit-building tools.

Klover

Key Takeaways:

Klover provides up to $200 cash advances without credit checks, interest, or hidden fees. Gain better control of your finances with tools for budgeting, tracking expenses, and understanding spending habits. Earn rewards or perks by securely sharing your financial data, giving you more ways to benefit from the app.

How it works:

Klover requires that you subscribe and provides budgeting tips, chances to win money, financial tools, and cash advances with the membership. Members are pre-qualified for a cash advance of up to $100 per pay period and can get up to another $100 with points earned by watching an ad video, scanning receipts, referring a friend, or taking a survey. Points can also be used to pay an instant money delivery fee.

• Type of cash advance: Payday
• Maximum amount: $200 ($100 prequalified; $100 by earning points).
• Fees: $4.99 monthly subscription; $1.99-$20.78 instant payment (depending on amount).
• Standard processing time: 2-3 days; up to 24 hours for instant payment.
• Repayment period: Next Payday
• Covers overdraft fees for insufficient payment amount: No.
• Eligibility requirements: Bank account, three consistent pay direct-deposits from the same employer; weekly or bi-weekly pay schedule; checking account in good standing for at least 90 days.

Pros of Klover:

• Offers up to $200 in cash advances with no interest, fees, or credit checks.
• Provides financial insights and budgeting tools for improved spending habits.
• Users can earn rewards by sharing secure financial data.

Cons of Klover:

• Data-sharing requirements may deter privacy-conscious users.
• Limited to smaller cash advances, which may not suit larger emergencies.
• Advanced features are dependent on app usage and earned rewards.

MoneyLion

Key Takeaways:

MoneyLion combines banking, investing, credit building, and cash advances in a single platform for total financial management. Access up to $500 with 0% APR cash advances and earn cashback rewards on everyday spending. You can build credit with no hidden fees and invest as little as $5 to grow your financial future.

How it works:

MoneyLion has high maximums, but reaching them is income-dependent. You won’t know what you qualify for until you apply on the app. If you open a RoarCash account for $1, the maximum doubles, and Turbo (instant payment) fees decrease. If you don’t have RoarCash, you’ll pay $8.99 for instant cash of $90 or more.

• Type of cash advance: Payday
• Maximum amount: $500 ($1,000 with RoarCash account), depending on income.
• Fees: $1.49-$8.99 Turbo fee for instant payment ($0.49-$5.99 with RoarMoney account); optional tips; $1 monthly RoarMoney subscription fee.
• Standard processing time: 1-5 days
• Repayment period: Next payday; if the balance is insufficient, a partial payment may be deducted; additional payment methods may also be accessed if they’re listed in a MoneyLion account.
• Covers overdraft fees for insufficient payment amount: No
• Eligibility requirements: Checking account at least two months old with a a history of recurring paycheck/income deposits and a consistent positive balance used regularly.

Pros of MoneyLion:

• Combines cash advances, investing, and credit-building features in one app.
• Offers up to $1,000 in Instacash advances with no credit checks.
• Includes rewards and cashback programs for financial growth.

Cons of MoneyLion:

• Subscription fees for premium features can add up.
• App navigation and service options may be overwhelming for new users.

Payactiv

Key Takeaways:

PayActiv lets you access your earned wages instantly before payday, helping you manage unexpected expenses without loans. The app offers budgeting tools, bill payment services, and savings programs to support your financial health. Enjoy low-cost services without hidden fees, reducing reliance on high-interest loans or overdrafts.

How it works:

Payactiv is an earned income access app that allows users to get up to 50% during a pay period after they’ve earned it. Money can go to a linked bank account a provided debit card, or users can pick it up as cash at Walmart. The transaction will show up as a deduction on your pay stub.

• Type of cash advance: Earned income access
• Maximum amount: $500 without direct deposit; $1,000 with direct deposit (employers may set lower limits).
• Fees: $2.49-$3.49 instant payment fee
• Standard processing time: 1-3 days
• Repayment period: NA
• Covers overdraft fees for insufficient payment amount: NA
• Eligibility requirements: Employer participation required.

Pros of PayActiv:

• Instant access to earned wages helps cover urgent expenses without loans.
• Offers budgeting tools, bill payments, and savings options for financial wellness.
• Transparent fee structure with affordable costs for users.

Cons of PayActiv:

• Only available through participating employers.
• Per-transaction fees may be a downside for frequent users.
• Limited support for users seeking larger financial services like credit building.

SoLo Funds

Key Takeaways:

SoLo Funds connects borrowers and lenders directly, offering a community-driven alternative to traditional loans. Borrow small amounts quickly with no credit checks or lend money to earn returns and support others. The app emphasizes fair terms and transparency, ensuring a straightforward lending and borrowing experience.

How it works:

SoLo Funds is a lending marketplace, meaning lenders and other consumers fund the loans. This can mean a day or two delay before you learn if you’ll get money. If the request isn’t funded within three days, it’s canceled. SoLo Funds differs from most other cash advance apps because the repayment isn’t automatically deducted from your account. You choose a repayment date, then send it when it’s due. A late payment fee of $10 or 10% of principal (whichever is higher) keeps borrowers in check. Creditworthiness is determined by a SoLo Score compiled from your financial habits after allowing access to your bank account. The score can go up if you make payments on time but will go down if you don’t. Borrowers can also become lenders but can’t be both simultaneously.

• Type of cash advance: Peer-to-peer marketplace lender
• Maximum amount: $575
• Fees: 1.75% instant payment fee; optional tip up to 15% of the loan; $10 or 10% of the principal (whichever is higher) fee for payments 35 days or more late.
• Standard processing time: 1-3 days (bank account verification can take 48 hours during business week)
• Repayment period: Borrower chooses a date within 35 days of the loan and manually repays.
• Covers overdraft fees for insufficient payment amount: No.
• Eligibility requirements: Active bank account with positive balance; debit card linked to active bank account with positive balance.

Pros of SoLo:

• Peer-to-peer lending platform allows borrowers to access funds quickly.
• No traditional credit checks, making it accessible to more users.
• Opportunity to earn returns by lending to other users.

Cons of SoLo:

• High reliance on user trust within the community model.
• Limited to small, short-term loans rather than long-term financial solutions.
• Transaction fees and tips may add up for frequent borrowers.

Vola

Key Takeaways:

Vola offers small cash advances to help cover expenses and avoid overdraft fees without credit checks or hidden costs. With a simple interface and fast approvals, Vola makes accessing and managing your finances hassle-free.

How it works:

Vola requires membership and uses an algorithm that tracks your spending habits to determine how much of a cash advance you’re eligible for. The algorithm creates a Vola Score that increases if you make payments on time, avoid bank overdrafts, read financial literacy material, or use a Vola card. There’s a monthly fee for Premium membership, from $2.99-$28.99, depending on which cash advance tier you choose.

• Type of cash advance: Payday
• Maximum amount: $400 (based on income).
• Fees: Monthly subscription $2.99-$28.99.
• Standard processing time: Immediate (usually less than five hours on a business day; may be affected by bank holidays or weekends).
• Repayment period: Next Payday
• Covers overdraft fees for insufficient payment amount: No.
• Eligibility requirements: Bank account more than three months old, with activity on most days of the week, regular income deposits and an average balance of more than $150.

Pros of Vola:

• Offers quick cash advances to avoid overdraft fees or financial shortfalls.
• Includes budgeting tools to track spending and improve money management.
• The easy-to-use interface makes the app accessible to most users.

Cons of Vola:

• Advance limits are relatively low compared to some competitors.
• Potentially high subscription fees may deter budget-conscious users.