Editor’s Note: Overdraft Apps provides detailed product reviews and recommendations based upon extensive research and our own hands-on testing. We may earn a referral fee when you sign up for or purchase products mentioned in this article.
30-SECOND SUMMARY: When you’re short on cash, Albert can give you access to up to $250 instantly!2 There’s no credit check and you don’t (necessarily) need to move your direct deposit. Albert also offers a great set of tools to help you track your spending, create a budget and hit your savings goals. Plus, Albert can give you highly personalized financial advice in a unique way in this age of apps – by connecting you with real human financial experts. Read on for our full Albert app review.
Why we love Albert: Get up to $250 instantly plus “Genius” financial help
The Albert app is free to download and is a financial Swiss Army Knife with banking services, financial planning and cash advances combined.
If you’re not sure about creating another account, there are plenty of benefits to setting up an Albert Cash account and moving your direct deposit.
- You’ll get nearly instant access to $250 when money is tight
- You can access your paycheck two days early
- You’ll get an Albert debit Mastercard which can be used for purchases or to withdraw cash at 55,000 in-network ATMs
If you don’t want to use up an Albert Cash account, your Albert Instant overdraft can be directed to your regular bank account. You’ll have to choose between a three day wait or paying an express fee but you can make unlimited transfers between Albert and your bank account, with no fees.
After downloading the app and putting it to work, we also loved these features:
- Albert pays small annual bonuses on your savings (the regular interest rate is just 0.10%), and you can take advantage of cash back offers on your debit card that can earn you a few bucks.
- Albert also offers automated investing in stocks and funds; you can start investing as little as $1.
- Albert finds extra dollars to save automatically by analyzing your income and spending – or you can set up regular contributions to help hit your savings goals.
The Basics: How does Albert Instant work?
You can use the app access Albert Instant, which provides a fee-free instant overdraft for up to $250. You can access the money within minutes via your Albert Cash debit card, and use it to pay for debit card purchases, withdraw cash from an ATM or make an electronic funds transfer. There’s no express fee to have your money sent to your Albert Cash Account, but if you’d prefer to have it instantly transferred to your external bank account then a $4.99 express fee does apply.
Albert Instant works by looking at several factors, including:
- The age of your bank account
- Your direct deposit
- Your spending history
While you may qualify for up to $250, your limit could be as low as $10. Your limit may change frequently, though, and you can check the Albert app to see where it is daily.
Here’s what you need to know about Albert Instant:
- There are no credit checks for Albert Instant. You can qualify even if your credit score is down in the dumps. Plus, there is no hard credit inquiry (which can damage your credit score) when you see what you qualify for with. Albert.
- There is no interest and no fee on Albert Instant. You can have your funds sent to your linked bank account or set up an Albert Cash account and access them via your Albert debit card. Both make your funds available practically instantly (as in a few minutes or less)! Don’t need your funds right away? You can choose to wait a few days to receive your money and skip the $4.99 express fee.
- Albert will generally set your repayment to automatically occur on the date of your next paycheck, though you can change this date to be earlier or later. If you’re unable to repay your Albert Instant overdraft, you won’t be able to borrow any additional money until your advance is repaid in full.
- There are no late fees. If your repayment is past due by more than 15 days, your cash advance privileges may be suspended for an additional 30 – 90 days following repayment. However, Albert does not utilize debt collectors or report unpaid loans to credit bureaus if you fail to repay your cash advance.
Get up to $250 with no credit check >>> Create an Albert account in two minutes 👈
How does Albert manage repayments?
Unlike cash advance apps, Albert doesn’t set a repayment date. Instead, your overdrafts are automatically repaid when funds are next deposited in your Albert Cash account. If you don’t have an Albert Cash account, you’ll have 10 days to repay your overdrafts to stop your repayment from becoming overdue.
If life gets busy and you forget, or you’re short on cash and unable to pay back your advance, you’ll face the following potential sanctions:
- Overdrafts not repaid within 10 days or more: You may be temporarily suspended from accessing further Albert advances. If you repay within 15 days of being overdue, your suspension is lifted when your repayment completes.
- Repayment more than 15 days late: Your access to Albert Instant may be suspended for 30 days or more from the day your repayment completes.
- Repayment more than 30 days late: Your access to Albert Instant may be suspended for 90 days or more from the day your repayment completes.
Since you’re in control of when money goes into your Albert account, you don’t need to request an Albert extension. You can “change” your repayment date by topping up your Albert Cash account sooner. Or, delay transferring funds to delay payment (though you may risk cash advance suspensions).
|🤓 Will missed payments hurt my credit score? No. Albert doesn’t report to the credit bureaus. There’s no late fee to worry about if you miss your 10-day repayment window and no hit to your credit score, either.
What other features does Albert offer?
Albert pulls in and analyzes your bank transaction data to help give you a clear, actionable picture of where your money is going.
The free version of the app gives you some great tools to enable you to better manage your money, and for just a few dollars per month (after a free trial) you can upgrade to the Genius service for help and advice from real humans on a surprising range of money questions.
Here’s how Albert can help you get a better handle on your finances:
✔ Get all of your money stats in a single place: Albert automatically organizes and analyzes all your bank account transactions to help you see where your money is coming from and going. It helps track your recent bills, spending, and savings across all accounts and can send you useful alerts to potential overdraft fees, unusual transactions, and big swings in the bills that you owe.
✔ Find hidden savings on your bills: Albert reviews your bills for potential savings on a regular basis. Through a partnership with Billshark, Albert can negotiate better rates for services like internet, phone, cable, and security. Albert also flags recurring charges to help you identify subscriptions that you may no longer be using and alerts you to pesky monthly and overdraft fees that you may not realize you’ve been paying.
✔ Get money advice from real humans: Technology is great, and Albert offers some easy, yet powerful tools to help you understand and manage your money. But, sometimes you have questions that Google can’t provide a clear and trustworthy answer to. That’s where Albert’s Geniuses may be able to help. They’re real people, available to answer your financial questions 7 days a week via the app or text message, for a small monthly fee.
Spend less, save more >>> Check out what Albert thinks of your finances 👈
Struggling with poor credit? Boost your credit with our top articles
- MoneyLion Credit Builder Plus: Borrow $1,000 to help improve your credit with hundreds of dollars available immediately.
- Kikoff Credit: Improve your credit for as little as $5 a month (or less than the price of a Starbucks order).
- Grow Credit: Boost your credit score by watching Netflix and ordering UberEats (seriously!)
Before You Go: Grab Yourself an Albert Genius FREE trial
Albert is free to download and you can access many of Albert’s features at no charge.
You will need to subscribe to Albert Genius to access automatic savings and the tools and advice from Albert Genius. These real humans can help with spending, budgeting and financial questions.
You can see if Genius is worthwhile with a 30 day free trial, with no credit card required. It’s available directly in the app, so you don’t need to hunt for any coupons or promo codes.
And if you’d rather cancel your free trial before being billed, just text the phrase “CANCEL GENIUS” to 63937.
|🤓Overdraft Apps Tip: Deleting the app from your phone does NOT cancel your Albert Genius subscription. You’ll need to send a text message (and receive confirmation) from Albert customer service.
Enjoy $250 with no fees >>> Sign up with Albert now 👈
Frequently Asked Questions About the Albert App
Is there a fee to use Albert Instant?
Yes, you do need to subscribe to Albert to be eligible for instant overdrafts for up to $250. Not sure if Albert is for you? You’ll get a 30 day free trial when you first signup with Albert. The only other fee to borrow cash is a $4.99 express fee to have your funds transferred to an external bank account. You can avoid this by having your sent to your Albert Cash account instantly, or by waiting a few days to have receive your money in your external bank account. Albert does not charge interest or late fees, and no longer asks for tips!
What happened to Albert cash advances?
Albert recently changed its instant product from cash advances to overdrafts, and introduced several great new features as part of this change, including eliminating those tip requests that all of America is growing tired to seeing. Albert Instant still offers much of the same flexibility as a cash advance – you can have the money sent to your Albert debit card instantly, with no express fee and use it for debit card purchases, ATM withdraws and electronic transfers, such as via ACH.
Does Albert report to credit bureaus?
Albert does not report any information about your account to credit bureaus. There is no credit check, so you can qualify for an Albert instant overdraft even if your credit is a bit bruised and battered (plus you can see what you qualify for without impacting your credit score). If you’re late with repayments, credit bureaus won’t find out about it, however the flips side is that on-time payments that could boost your score aren’t reported either. (Check out our guide to credit builder loans if you’re looking for low-cost products that can help you quickly build credit.)
Do I have to set up a direct deposit with Albert?
No. You don’t have to set up or switch your direct deposit to an Albert Cash account but Albert does incentivize you to make the switch with the ability to access your paycheck two days early and access your Albert instant overdraft in minutes with no fees.
Does the Albert app really give you $250?
Yes and no. The Albert app has a overdraft limit of $250. Since Albert analyzes your bank account, having higher income may qualify you for a higher advance limit. Albert regularly reviews your account so your limit may increase or decrease over time. You may find you’re only eligible for a smaller initial limit, which could be as low as $10. Be sure to check your limit in the app regularly, though – your finances may change daily and so can your borrowing limit.
How do I change my Albert repayment date?
Unlike many other cash advance apps, Albert doesn’t set a repayment date for your overdraft. Instead, Albert automatically repays your advance as you receive funds in your Albert Cash Account, either via direct deposit or a transfer from an external bank account.
If your overdraft isn’t repaid within 10 days, your borrowing privileges may be suspended and you’ll likely see your borrowing limit reduced. The good news is that Albert doesn’t charge any late fees or interest, doesn’t report your late payments to credit bureaus, and doesn’t work with debt collectors.
Is Albert a trustworthy app?
Yes. Albert uses bank-grade security to help keep your money and financial information safe. When you link Albert to your bank account, it connects via Plaid – the premier company in building ‘pipes’ for fintech apps – and protects your financial information by securely encrypting it as it moves from your bank to Albert.
Albert doesn’t store your bank login information so you don’t need to worry about hackers stealing it in a data breach.
Like many of the popular cash advance apps, Albert is not a bank. Its banking services are provided through a partnership with Sutton Bank, which is a member of the FDIC, meaning your funds in an Albert Savings account are insured for up to $250,000.
Not the right app for you? >>> Check out the top apps like Albert 👈
WAIT! Why borrow quick cash when you can earn it?!
Cash advance apps can be a great tool for getting a little extra cash when you need it, but you’ll need to repay it – plus fees – wihtin a week or two. Did you know there’s an easy way to earn extra cash that’s yours to keep?
KashKick is a wildly popular service that lets you earn money for playing games, completing surveys, signing up for trial offers and more. (You’ll even earn cash for just completing your profile!) You can earn cash today and withdraw your earnings through PayPal once you’ve reached $10. You can earn over $100/month with KashKick – and you don’t need to spend a dime or take out your credit card to do it.
There are dozens of high-paying offers available on KashKick, and if you’re into playing new games on your phone, you can earn some serious cash for doing what you love. Though offers change regularly, there are currently1 more than three dozen offers available where you can earn cash – sometimes over $100 – just by downloading and playing popular games like Coin Master, Monoply Go, Bingo Blitz, and more. These games are all free to download, and no in-app purchases are required to earn with KashKick.
Get paid to play on your phone >>> Check out KashKick
- $100 Instant Loan Apps:We’ve Tested Dozens - February 13, 2024
- Credit Strong Review – Boost Your Credit and Savings - January 5, 2024
- Best Cash Advance Apps of 2024: Fast and Easy Ways to Top Up Your Bank Account - January 4, 2024
- As of February 13, 2024. Offers may change and may not be available to all users. Eligibity requirements apply. See KashKick's Terms of Service for full details.
- Albert is not a bank. Banking services provided by Sutton Bank, Member FDIC. Instant overdraft eligibility requirements, limits, and other terms apply. Limits start at $10 and may be increased up to $250 by Albert. A qualifying Genius subscription is required to access Instant overdrafts. Transfer, ATM, and other applicable fees may apply. See app for details.