If you find yourself struggling with financial gaps before your payday, cash advance apps can be a lifesaver. These apps provide temporary financial relief by offering early access to your paycheck or quick cash advances. However, it’s crucial to choose the right app that suits your needs and doesn’t burden you with excessive fees. Here’s a list of the 11 best cash advance apps in 2024 to help you bridge the gap until your next payday.
1. Dave
Cash Advance: Up to $500
Speed: Instant and standard
Fees: $1/Month
Rating: 4.2 / 5
Notable Features:
Automatic Calculations for repayment date
Pay Back Early option
Side Hustle feature for accessing money-making gigs
Pros: ATM access, smart budgeting, spending account, no-interest overdraft, instant or free transfers.
Cons: Mandatory monthly subscription. Due date aligns with the next payday.
2. Varo
Cash Advance: Up to $250
Speed: Instant
Fees: Up to $15, depending on the amount borrowed
Rating: 4.3 / 5
Notable Features:
Varo’s secured credit card for building credit
Reports to the Credit Bureaus
Additional Features like free ATMs, remote check deposit
Pros: Earn cash back, faster paycheck access, interest-free advances, and automatic savings tools.
Cons: There is a low initial limit, and it requires $800 in direct deposits.
3. Empower
Cash Advance: Up to $250
Speed: Instant (for a fee)
Fees: $8/month
Rating: 4.3 / 5
Notable Features:
Empower Perks for cash back
Early paycheck deposit for faster access
Free ATMs with over 40,000 MoneyPass ATMs
Pros: No credit checks, instant transfers, automated savings, interest-free advance up to $250.
Cons: Small cash advances to start, cash advance limits change often.
4. Chime
Cash Advance: Up to $200
Speed: Instant (overdraft protection)
Fees: Tips are optional
Rating: 4.2 / 5
Notable Features:
Convenient payments with Chime Pay feature
No annual fee or interest on credit cards.
Customizable banking alerts
Pros: No hidden fees, no overdraft fees, automatic savings, faster access to pay.
Cons: Direct deposit is required, and it doesn’t work on automated payments or checkbook transactions.
Chime is actually a FinTech company, not a bank. Services regarding banking are provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
5. Albert
Cash Advance: Up to $250
Speed: Same day
Fees: Pay what you want
Rating: 4.6 / 5
Notable Features:
Up to 20% instant cash back on eligible purchases
Automated savings on a custom schedule
No minimum balance fees or commissions
Pros: No credit checks, transparent fees, no fees, no interest for cash advances, pay what you think is fair.
Cons: Small fee for instant transfers, requires Genius Subscription.
6. Brigit
Cash Advance: Up to $250
Speed: Instant or standard
Fees: $9.99 – $14.99 monthly subscription
Rating: 4.1 / 5
Notable Features:
Useful financial tools
Automated advances (overdraft protection)
Credit protection tools
Pros: Flexible payday advances, useful financial tools, credit protection tools.
Cons: Large number of requirements, requires a paid monthly subscription.
7. Earnin
Cash Advance: Up to $100/day
Speed: 1-3 business days or instant
Fees: Optional tips
Rating: 5 / 5
Notable Features:
Balance Shield for overdraft protection
Earning Express for early access to pay
Financial Calendar to track expenses and schedule cash advances
Pros: Tip Yourself Feature, daily cash-outs.
Cons: Direct deposit required, maximum transfer of $100 per day.
8. MoneyLion
Cash Advance: Up to $500
Speed: Up to five business days or instant (for a fee)
Fees: None unless you want an instant transfer
Rating: 4.2 / 5
Notable Features:
Low-fee investing options
Earn cash-back rewards
Low-fee checking account
Early cash advances & paycheck access
Pros: Low fee investing options, earn cash back rewards, low fee checking account.
Cons: Standard delivery takes up to 5 days, and the due date is usually 2 weeks or less.
9. Payactiv
Cash Advance: Up to 50% of your earned pay
Speed: 1-3 business days for free or instant for a fee
Fee: $3 per instant transfer
Rating: 3.9 / 5
Notable Features:
Perks for Employees including financial coaching
Perks for Employers with easy payroll management
Payactiv Visa card for instant deposits and spending
Pros: Earned wage access, savings tools, one-on-one financial coaching.
Cons: Employer must offer it, can only access 50% of your earnings.
10. Revolut
Cash Advance: Up to your employer
Speed: Instantly to a few days
Fees: Up to employer
Rating: 5 / 5
Notable Features:
Early paycheck access
Free person-to-person transfers
International wires
Multi-currency accounts
Pros: Early paycheck access, free person-to-person transfers, international wires.
Cons: High monthly fee for premium features, on-demand pay only available through an employer.
Please acknowledge that Revolut frequently updates its services and products. Visit the Revolut Terms and Conditions for the latest offerings. Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, Member FDIC.
11. Klover
Cash Advance: Up to $200
Speed: Instantly to 3 business days
Fee: Varies depending on speed
Rating: 4.5 / 5
Notable Features:
Multiple advance options
Auto-advances for overdraft protection
Klover Card for spending and earning cash back
Pros: Multiple advance options, automatic overdraft protection, Klover Card for spending.
Cons: Monthly subscription fee, lower cash advance limit.
Conclusion
Before choosing a cash advance app, carefully consider your financial needs and the features offered by each app. Some apps may be more suitable for certain situations, such as those offering higher advance limits or faster processing times. Be sure to review the terms and conditions, charges, as well as reviews before making a decision. Additionally, it’s crucial to use these apps responsibly and only when necessary to avoid falling into a cycle of debt.
