Best 6 Cash Advances Apps like Earnin and Dave
Earnin is a renowned choice for borrowing some money between two consecutive paydays. The best thing about Earnin is that you need not pay hidden or subscription fees. However, Earnin won’t let you draw more than $100 a day, even if you need it. Dave is another alternative to Earnin, but you might not match its eligibility criteria.
Therefore, almost every cash advance application and sites have restrictions. To avoid limits on cash withdrawal, eligibility, and more, you might be looking for apps like Earnin and Dave.
We have listed a few apps that will let you borrow up to $250 from your next paycheck. The app will automatically deduct the borrowed amount from your next paycheck when it arrives.
Let’s check them out so that you can choose one of these apps wisely:
Brigit is one of the vastly used apps like Earnin and Dave. You can borrow up to $250 from your next paycheck through Brigit. Additionally, you need not pay any interest on the loan.
Instead of paying for the interest, you will be forced to pay a monthly membership that costs $9.99. And, we think that it’s a bit pricey, especially when we compare it with Dave’s monthly membership worth $1.
However, the benefit of using Brigit is that it offers several budgeting tools to monitor your earnings and expenditure. You need not pay anything extra for the account monitoring and analysis tools on Brigit. In addition, Brigit is a reliable financing option as it works with over 15000 US banks and institutions.
You can link the account to which you want to receive the cash. Brigit will automatically deposit cash into the account whose balance is low. You can even avoid overdraft fees with Brigit. The app never shares or sells your information with third parties. You can also opt for its early payment options if they appear more feasible to you.
Getting cash in financial emergencies as soon as possible is an advantage. Empower is one of the apps like Earnin and Dave that makes sure that you can borrow some cash quickly. It can be as fast as an hour, but borrowers need to pay an instant fee of up to $8. Additionally, Empower lets you borrow cash ranging from $10 to $250.
The app charges a subscription fee of $8 after a trial of 14 days. Apart from the instant delivery and subscription fees, Empower demands a tip of up to 20% of the cash advance. Like other cash advance apps, Empower will automatically deduct the cash advance from your next paycheck.
Here are a few advantages of using Empower:
- The app does not run a credit check
- Empower doesn’t charge a late fee
- It offers budgeting features to analyse your savings, expense, and more
- Users get monthly reports on expenditures categorised into different sections
The app is supported by both Android and iOS devices.
The above-mentioned apps, like Earnin and Dave, are not available in Mexico, India, Nigeria, Kenya, Tanzania, and other countries. Therefore, geolocation boundaries might be a restriction to getting a cash advance. Fortunately, Branch has come across geolocation issues mostly, and you can get a payday loan from the app.
Get up to 48-week loans from Branch. However, Branch charges a monthly interest rate on the borrowed amount. You can avoid rollover or late fees with Branch, by the way. You can get an advance of up to half of the paycheck. You will receive the money in your Branch wallet, and you can spend the money on bills, transferring funds, and more.
With Branch, you can get the cash advance within 3 days from application. The branch also lets you get the cash faster with an instant delivery fee.
Cash App is one of the apps like Earning and Dave. You can receive or send money through the Cash App. In addition, the app lets you borrow up to $200 during emergencies. However, Cash App charges an interest of 5%, and that’s how it stands apart from Earnin, which doesn’t charge interest.
The eligibility criteria for borrowing from Cash is still a mystery. If you can notice the Borrow option on the app, then it means that you are now eligible to borrow the cash advance. You can opt for the credit card the app provides if you don’t qualify for the Borrow option. The app keeps your data safe and sound.
Moreover, you can invest in bitcoin and stocks through Cash. The Cash App might not be available everywhere as it’s still in the testing stage. On the other hand, the FDIC hasn’t yet ensured the app. If anything goes wrong, then you might lose your money.
Are you searching for an overall banking app apart from the cash advance feature? With MoneyLion, you need not carry different apps to keep track of your account and borrowings. This comprehensive app offers options to save, borrow, invest, and earn. Get your early paychecks from MoneyLion’s Instacash function.
Here’s what you need to know about MoneyLion about borrowing money:
- It lets you borrow up to $250 from your upcoming paycheck
- The app doesn’t charge you interest
- You need not go through any credit check
- Get instant access to money with Instacash or you can use the roarMoney feature to get the cash 2 days prior to your payday
In addition to this, you need not show any minimum balance to borrow money. MoneyLion doesn’t charge users a fee for foreign transactions, card replacement, standard transfers, and mobile check deposits.
You can aid your investments with MoneyLion, and it charges you only a $1 monthly membership. You can opt for its Credit Builder Plus plan, which costs $19.99 each month and it allows a loan of up to $1000.
If you wish to draw a cash advance of up to $500, then Payactiv might help you out. However, it acts slightly differently compared to Earnin. You need to connect Payactiv to your company payroll, and then you can access cash advance before your paycheck arrives.
You will get more advantages from Payactiv if your employer partners with the app. For example, you can get your pay advance while shopping at Walmart in cash. However, your employer can limit how much money you can withdraw when you use Payactiv.
Here are a few advantages of using Payactiv:
- Payactiv offers a prepaid card for easy access to money
- You will get low-cost advances, and you don’t require any bank account to use Payactiv
- The option is feasible for both hourly and salaried employees
However, Payactiv forces you to sign up for a Payactiv card. Additionally, there are limited options in case the employer hasn’t enrolled itself on the Payactiv platform.
Hopefully, you have found the guide helpful and have come across beneficiary apps like Earnin and Dave. You can check out other options such as Possible Finance, Current, Chime, Albert, Zirtue, SoLo Funds, and Even. don’t forget to check their pros and cons before signing up.