Best cash advance apps? Do you have an emergency that you need urgent cash to settle? Emergencies never line up with your payday, and most times you need to access your wages ahead of your schedule. A cash advance app allows users to request a small amount of money to be repaid from their next paycheck.
However, these apps sometimes charge a lot of fees, but they provide a safer alternative to a payday loan. When you are choosing the best cash advance apps, you should consider factors. This inlcudes loan amounts, fees, funding time, timeline for repayment, company reputation, and user requirements. When seeking an advance on your paycheck, certain options may be more suitable for your needs than others.
The best cash advance app
A brief mobile application development guide is prepared for growing cash advance apps that offer wide-ranging services to their users. These easy and fast cash advance apps include low interest rates and flexible repayment terms. In this article, we have selected the best cash advance apps that cater to your needs. Let us explore some options that are available to help you borrow in your emergency. They are as follows:
Varo Advance
Varo has launched the “Advance” feature, available to users with at least $1,000 in direct deposits to their Varo Bank Account. Varo’s Advance feature permits you to borrow up to the amount of $250. To borrow $20 is fee-free, but for anything above that, Varo will charge you. The fees go up from $4 to $15, depending on the size of the advance.
Chime SpotMe
Chime is one of the most well-known checking account apps in the United States. It offers a SpotMe feature that allows instant overdrawing of up to $200 on debit card purchases without incurring a fee. If you want to enjoy SpotMe, you will need a qualifying deposit of $200 or more than 34 days before requesting an overdraft spot.
Brigit Instant Cash
Brigit’s Instant Cash feature is one of the best cash advance apps; it offers an amount of $250 cash advance for qualifying Plus members. Brigit provides a free plan, which comes with financial planning tools for monitoring spending and a marketplace for opportunities to earn more income. It is only Plus members who are opportune to access Brigit’s cash advances, fee-free overdrafts, and credit builders. If you frequently find yourself losing money to overdraft fees from your main bank, Brigit may be the best app for you.
Current Overdrive
Current provides the Overdrive feature, which grants access up to the amount of $200 without incurring overdraft fees. To be qualified, you must obtain $500 or above in qualifying deposits into your current account within the past 30 days.
Empower Cash Advance
Empower is also part of the best cash advance app; it offers you cash advances in the process of linking your primary bank account via Plaid. It will now determine your eligibility for a cash advance by going through your transaction history and a consistent source of income. Cash Advance gives a range between $10 and $250.
Revolut Early Salary
Revolut does not provide a loan feature but does have the “Early Salary” feature. If your salary is linked by direct deposit into your Revolut account, you will be entitled to receive your funds up to two days earlier than traditional banks.
EarnIn Cash Out
EarnIn, as part of the best cash advance app, has their “Cash Out” feature, which lets you access up to the amount of $750 per month of your pay early (qualify based on your hourly wage), with a daily limit of the amount of $100. For you to access this feature, you must confirm your income and employment. If you have a reliable source of income, EarnIn can assist you in spreading access to your paycheck throughout the whole month.
Albert Instant
Albert is another best cash-advanced app that gives access to cash advances of up to the amount of $250. To be eligible, start a direct deposit setup and provide evidence of steady income for at least the past 60 days from the same employer. Comparable to the other cash advance apps, Albert’s “Instant” feature doesn’t execute interest or late fees. You are permitted up to three cash advances during each pay period, with the total capped at $250.
Dave ExtraCash
Dave members can use the ExtraCash service to get the amount of a $500 cash advance transferred immediately to their account, free of interest charges or late fees. You are allowed to spend the money on anything you need, from gas to groceries to rent. A minor weakness is that Dave charges a $1 monthly membership.
Cash App Borrow
Cash App features their “Borrow” service, which permits qualified customers to access up to the amount of $200 when needed. It charges an even 5% fee for the loan, with the amount of a 1.25% finance charge per week if the loan is not paid back before the 4-week deadline. Note that this feature might not be available to all customers, as it is presently available only to qualified users in specific states.
