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Everything you need to know about cash advance apps, plus 6 examples

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A cash advance can help you out if you’re in a pinch, such as for an unexpected car repair to pay for or if you’ve got a time-sensitive opportunity that can’t wait until payday. 

There are many cash advance apps to choose from, all with varying features.

“With any of these options, it’s important to know what you are getting into before moving forward,” says Jason Noble, a certified financial planner (CFP) and financial advisor with Prime Capital Investment Advisors in Charleston, South Carolina. “Read the fine print, as that is where you will really know what you are buying.”

6 cash advance apps to borrow against your next paycheck

There are many cash advance apps to choose from, so make sure to compare your options before choosing which one to utilize. Consider the app’s fees, cash advance maximum, any interest charged, and other perks the service may feature—like overdraft protection or early access to your full paycheck.

Here are a few popular options:

Company Maximum advance limit Time to fund
(without fees)
Monthly subscription fee See details
MoneyLion $1,000 One to five business days None; $1 per month for RoarMoney View offer
EarnIn $750 Minutes None View offer
Dave $500 Seconds $1 View offer
Empower $250 Instant $8 View offer
Brigit $250 Seconds None; $8.99–$14.99 for premium plans View offer
Chime $200 Instant None Learn more
6 cash advance apps when you need money fast
MoneyLion View offer
$1,000
One to five business days
None; $1 per month for RoarMoney
EarnIn View offer
$750
Minutes
None
Dave View offer
$500
Seconds
$1
Empower View offer
$250
Instant
$8
Brigit View offer
$250
Seconds
None; $8.99–$14.99 for premium plans
Chime Learn more
$200
Instant
None

MoneyLion

Great for: those who seek a significant no-interest cash advance, as you can borrow up to $1,000 if you use its RoarMoney option.

About


MoneyLion is a consumer finance app with more than 12 million customers. Its products include cash advances, credit-building loans, investments, cryptocurrency, savings accounts, credit cards, refinancing, and banking.






Maximum advance limit: $1,000
Time to fund: One to five business days or instant for an additional, optional fee
Subscription fees: None; $1 per month for RoarMoney




Pros

  • Up to $500 in Instacash cash advances, which can be increased to $1000 under certain conditions
  • No interest on cash advances, with no mandatory fees for standard delivery
  • Automated repayment options

Cons

  • Might not work well for those with newer accounts or irregular income patterns
  • You can only disburse up to $100 at a time and must make subsequent transfers if you need more
  • Some may only qualify for as little as $25






Borrow up to $500 in 1-5 business days without a fee or in minutes with a fee between 49 cents to $8.99 per disbursement, depending on the disbursement amount and whether you’re depositing into a RoarMoney account or an external account.

It’s important to note that this fee, called an Instacash Turbo Fee, is optional and does not impact whether you can access Instacash. With a RoarMoney account, you can borrow up to $1,000, depending on income. This type of account has a $1 monthly administrative fee.




Repayment happens automatically via your RoarMoney account, a debit card held at another institution, or an external checking or spending account. If the funds aren’t available when they try to take out your repayment, it will attempt to take smaller amounts and continue to try again until repaid in full.


Learn More

Why we like it

MoneyLion is a mobile banking app that offers features beyond just cash advances. It addresses all areas of personal finance, which can help get to the root cause of one’s financial troubles that might require them to get cash advances in the first place. 

These tools include credit building, loans, and investing services. You can also open a bank account, access your full paycheck two days early, track your spending habits, and buy and sell cryptocurrency.

EarnIn

Great for: those who need immediate access to their paycheck. It allows you to get up to $750 before payday.

About


EarnIn is a cash advance app available on both Apple and Android devices. It offers cash advances of up to $750 per pay period and operates on a tip-based platform. Users have the option to add tips on each transaction to support EarnIn’s services.






Maximum advance limit: $750
Time to fund: Minutes
Subscription fees: None


Why we like it

EarnIn has a feature where you can tip yourself between $1–$50 total per day, accumulating up to $2,000 across five tip jars. While it isn’t interest-bearing, this can be used as a way to save money for specific expenses, such as a vacation or a rainy day.

EarnIn offers several added features, including Lightning Speed transfers, which enable payouts in minutes. There is also free credit score monitoring and a warning system called “Balance Shield” that alerts you when your funds are low.

Dave

Great for: those who need budgeting assistance along with the added convenience of small cash advances.

About


Dave—a take on David slaying Goliath (aka large banks)—aims to provide banking services to the commoners. It uses artificial intelligence (AI) to help underwrite its cash advances and help customers manage their accounts.






Maximum advance limit: $500
Time to fund: 5 minutes
Subscription fees: None


Why we like it

We love Dave’s take on using AI to help underwrite how much a customer qualifies for its cash advance feature (called ExtraCash). It examines more than 180 data points to determine the amount to offer customers. These factors include employment history, income, bank account balance, history with Dave, and the customer’s spending patterns.

Dave also offers a “side hustle” feature, which connects users with local flex jobs that work with their schedule. You can also earn money by taking surveys through Dave.

Empower

Great for: someone who wants a full money management experience.

About


Empower is a fintech company offering a variety of financial products to help customers manage their personal finances. These include cash advances, lines of credit, automatic savings, credit monitoring, and spend tracking.






Maximum advance limit: $250
Time to fund: Instant
Subscription fees: $8 per month


Why we like it

Empower addresses your whole financial picture, from spending to credit, through its variety of financial products and services. 

Your goal should be to get to a place where you’ll never need a cash advance again, and Empower offers the tools to get you there. Its AutoSave feature helps you determine how much you can save and when and will help you build your savings through automatic transfers to your Empower account.

Brigit

Great for: those who need a quick cash advance as well as tools for financial health, such as its credit monitoring service.

About

Brigit has 4 million users with an average App Store rating of 4.8 stars from 279,000 reviews. It’s also available on the Google Play store and has 4.7 stars from 175,000 reviews.

Maximum advance limit: $250
Time to fund: Seconds
Subscription fees: None; $8.99–$14.99 for premium plans

Why we like it

One of the biggest perks of using Brigit is its Automatic Advances feature, which will monitor your account, and if it sees you’re about to overdraft, it’ll issue an advance. You can still request an advance even if you have this feature turned on as an added safeguard for your account. Keep in mind that you can still only have one advance at a time, including the Automatic Advance.

Chime

Great for: those looking for fee-free overdraft protection of up to $200.

About


Chime is a fintech company offering banking services such as credit building, checking, and savings accounts. It takes two minutes to sign up for an account and has no fees.






Maximum advance limit: $200
Time to fund: Instant
Subscription fees: None


Why we like it

While Chime isn’t like a traditional cash advance app, it appeals to those who need access to fee-free funds attached to their bank account should they overdraft. The first time you overdraft, you have access to $20 worth of SpotMe funds. Over time, this amount can increase up to $200 based on factors such as your Chime history, how often you’re paid, how much you’re paid, and your spending activity.

What is a cash advance app? 

Cash advance apps are tools that can bridge the financial gap between paychecks. You connect your bank account, upload employment and earnings info, and then you can transfer a portion of your upcoming earnings right into your bank account or on a designated debit card.

“These apps are designed to provide users with access to small amounts of money on a short-term basis, typically until the user’s next payday,” says Andrew Lokenauth, a finance professor at the University of San Francisco and founder of Fluent in Finance. 

Cash advance apps can come in handy for consumers dealing with unexpected costs, such as car repairs, or those who need cash fast.

“One of the main advantages of cash advance apps is their convenience and speed,” Lokenauth says. “They can provide users with quick access to cash when they need it, without the need to visit a bank or other lender.”

They can also be helpful for consumers facing potential penalties when their checking account funds are low. 

“You can pay bills on time, and you can avoid overdraft fees,” says Ram Palaniappan, CEO of EarnIn, one of the cash advance apps outlined above. “That’s money that stays in your pockets.”

Cash advance app vs. payday lender

Typically, a cash advance is more flexible and convenient—ideal for short-term needs. A payday loan is often much less flexible and has higher risk than a cash advance. Here are some other key differences.

Cash advance app Payday lender
Fees and interest Often has no interest; may have small service fees or optional tips Typically charges high interest rates and fees
Repayment terms Tied to the timing of your next paycheck or another agreed date; often flexible Must be repaid by the next payday; can be inflexible and lead to a cycle of debt if extended
Loan amounts Usually small amounts, ranging from $100 to a few hundred dollars, though your first advance is often much smaller Can range from $100 to $1000 or more
Access and convenience Usually accessed through a mobile app; quick and easy process Can be accessed online or in-store; may have a more complex application process
Credit check Doesn’t typically involve a credit check May not require a credit check but can sometimes involve one
Financial management tools Often include budgeting tools, financial insights, and savings features Rarely offer financial management tools; the focus is on the loan itself

Pros and cons of cash advance apps

Cash advance apps are a popular means for getting quick access to funds before payday. Here are some things to consider before taking one.

Advantages of cash advances

  • Quick access to funds, often within minutes
  • Usually has no interest and few, if any, fees
  • Often provides other tools and services, such as budget help
  • You can usually move a repayment date if it’s a once-in-a-while thing
  • No credit checks

Disadvantages of cash advances

  • Compared to other options, the amount you can have advanced is low
  • Can get trapped in a cycle of debt if you make a habit of receiving advances
  • Relying on cash advances focuses on short-term relief without addressing long-term financial planning and saving

Are cash advance apps safe?

Usually, a cash advance app offers advanced encryption and security measures so your data is protected. Additionally, some even face regulations from financial authorities, depending on whether they’re banks or financial technology (fintech) companies.

Another essential aspect to consider is whether taking a cash advance will further any financial hardship you face. While cash advances are less risky than other methods, such as a payday loan, they aren’t suited for more significant financial issues that require long-term solutions. 

Is a cash advance app right for me?

Determining whether a cash advance is right for you requires some self-reflection on your financial habits. Consider these questions:

  • How quickly do you need funds, or can it wait until your next paycheck?
  • Can you afford to repay the advance without it creating a domino effect with the rest of your budget?
  • Have you considered an alternative option, such as cutting back expenses or selling something on Facebook Marketplace?
  • Do you understand the fees you might be charged?
  • How often do you face cash shortfalls?
  • Can you avoid dependency?
  • What is your financial health like?

Alternatives to cash advance apps

Cash advance apps aren’t the only choice if you need cash before payday. Here’s a look at some of your other options.

Buy now, pay later (BNPL) apps

A BNPL app is an attractive option if you have a large purchase to pay for but you don’t want it all to be taken out at once. However, if you get stuck in the cycle of using these to shop, rather than paying for the things you need, you can find yourself in an even worse position than where you started.

Personal loans or credit cards

A personal loan can usually help fund larger purchases, though you’ll be charged interest on this. Additionally, a credit card can help you out in a pinch. 

“Someone would use a credit card if they could pay back that debt within a few months,” Noble says. “This is due to the large interest rates usually associated with them.”

Debt relief companies

A debt relief company can negotiate debt on your behalf and come up with a plan to help you pay much less than before. They do this by paying a lump sum to your creditors based on money you accumulate in a separate savings account while they do the negotiating. During this time, you’re not paying those creditors, so your credit score will tank in the short term. If you take this route, it’s important to address your financial habits so you don’t find yourself in a similar position years down the road. 

Credit repair companies

While a credit repair company doesn’t lend money, it does help fix your credit by reporting inaccuracies on your credit report. In turn, this can help you qualify for less expensive funding options. 

The takeaway 

Cash advance apps let you access a portion of your paycheck early and may be a good option on occasion. As Lokenauth explains, however, “These should not be used as a long-term financial solution.”

Using cash advances often may indicate a deeper financial issue, so if you find yourself needing help regularly, consider working with a credit counselor or budgeting professional for help. Building up an emergency fund can also help you better handle a financial emergency should one arise.

Frequently asked questions

What app will let you borrow money instantly?

EarnIn, Brigit, Chime, Dave, Empower, and MoneyLion all have options to receive instant access to a cash advance. However, there typically is a small fee associated with this, often 1% to 5% of the transaction. Usually, you can save that fee if you’re willing to wait up to an hour for a normal deposit.

How do I borrow $100 instantly?

EarnIn, Brigit, Chime, Dave, Empower, and MoneyLion all have options to receive instant access to a $100 cash advance. The amount you’re able to advance depends on many factors, such as spending habits, employment history, and income stability.

Can you borrow money from Venmo? 

No, Venmo doesn’t have an option for borrowing. 

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