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“What are the best cash advance apps of 2023?”
Let’s be honest, this isn’t an easy question to answer. You’ll need to consider a range of factors such as:
- Is there a credit check to qualify?
- How fast will you have the money in your bank account?
- How quickly and how often can you access a cash advance?
- Do you need to set up a new bank account or move your direct deposit?
- What is the interest rate and how much are the fees? (And are you supposed to tip?)
And perhaps most importantly of all, how much can you borrow? It’s not enough to give you a $40 cash advance, $50 cash advance, or even a $100 cash advance.
You’ll also need to weigh up monthly costs, eligibility requirements, and hidden obstacles buried deep in an app’s terms and conditions. Scratch that. You don’t need to weigh up those things… because we’ve done it for you.
With low fees (or even NO fees in a few cases!) it’s never been easier to secure short-term funding and avoid the headaches that come from a lack of cash.
Read on for a closer look at our top 13 cash advance app recommendations.
13 best cash advance apps for 2023
When it comes to a list of cash advance apps, you’ve got plenty to choose from. At the same time, it’s easy to feel overwhelmed comparing dozens of apps – so we’ve made things simple.
Each app on this list offers its own pros and cons whether you need a $20, $50 or $100 cash advance (or something a little higher). Some will let you borrow up to $100 against your future wages, and others will let you borrow money as soon as you sign up (with no fees or interest).
According to Ivan Novikov, CEO and founder of app security company Wallarm, the research phase is critical.
“Make sure to compare the features, fees, and interest rates of different apps to find the one that best meets your needs. It’s also important to look into the security features of any cash advance app you are considering. Be sure to check that the app is encrypted and has measures in place to protect your information.”
Read on for the top 13 best cash advance apps we recommend you download in 2023.
| 🤓 Overdraft Apps Tip: Paycheck advance apps can be a flexible alternative to personal loans or swiping your credit card. However, remember that borrowing money before payday can lead to a cycle of debt or represent deeper financial issues. Many of the apps on this list offer tools to help you manage your money, like Cleo and Albert, so take advantage of resources to ensure you don’t regularly spend more than you earn. |
#1. Albert – Fee-free cash advances up to $250
The Albert app offers interest-free and fee-free cash advances for up to $250.1 You could have cash in your bank account less than 20 minutes after downloading the app.
There is no credit check. Instead, Albert securely links to your bank account after just a few easy questions, and analyzes your account history and activity. If you have an established bank account with regular recurring deposits, you could qualify for a high cash advance limit right of the gate. (Some other apps start you off with a limit that’s as low as just five bucks!). You can use Albert for up to three cash advances per pay period.
You can have your cash sent to your bank account almost instantly, for a small express fee. (It costs $6.99 to get instant access to a $100 advance.) Plan ahead, and you skip the express fee though your money will take up to three business days to arrive. That’s the only fee you’ll pay to borrow from Albert. The app is free to download and there’s no interest and no subscription required.
Albert will automatically schedule repayment of your cash advance for your next pay day, but if you need some extra time, it’s easy to change your repayment date. There are no late fees (and no costly interest building up), though you won’t be able to take out another advance until your outstanding one has been repaid.
Albert offers valuable tools to help you track your spending, create a budget and achieve your savings goals. Albert also gives you access to a team of Albert Geniuses – real human financial experts who can answer your money questions 7 days a week, on topics such as how to pay down your credit cards, boost your credit score, create a budget you might actually stick, and more. Albert Genius is an optional service that costs $6/month, but you’ll get 30 days free when you sign-up with Albert.
Get up to $250 with no credit check >>> Download the Albert app free
| Pros | Cons |
|---|---|
| ✔ Borrow up to $250 | ✘ Funds take 2 – 3 days to reach your account |
| ✔ No credit check | ✘ Requires access to financial information |
| ✔ No fees or interest | |
#2. MoneyLion – Low-cost cash advances up to $250 from a feature-packed financial app
MoneyLion’s Instacash feature lets you borrow up to $250.2 And with no credit check, no interest and no monthly fees. There’s a reason 3.3 million customers use MoneyLion!
To access this feature, download the MoneyLion app and tap ‘Instacash’. Link your checking account to qualify for 0% APR cash advances. You can borrow $25 to start and your limit will be determined by your income or recurring deposits or moving your direct deposit to a MoneyLion RoarMoney account. Once set up, you can use Instacash for advances as often as you like until you hit your eligible amount.
MoneyLion isn’t the quickest cash advance app on our list. You will need to wait 48 hours to receive your funds. But if you’ve got a car service coming up or forgot your anniversary and need a nice gift ASAP then you can access your funds almost instantly with a $3.99 fee (deposited in your MoneyLion RoarMoney account) or $4.99 (deposited in your bank account).
Where MoneyLion also stands out is customer service. With a 4.7 star rating on Trust Pilot (28,130 reviews), many users comment on the quick and accessible customer service team.
This can be a major factor when choosing a cash advance app, explains financial planner Michael Ryan.
He says, “I always recommend finding an app that offers a good customer service experience, as this can make a big difference when navigating the complexities of personal finance. By looking for apps with a quick and easy sign-up process, and competitive interest rates, you can get the most value while avoiding the potential pitfalls of high overdraft fees.”
Why is MoneyLion one of our favorite cash advance apps?
- Super speed - You could have up to $500 in your bank account in under 10 minutes!
- No, No, No! - No credit check, no interest, no tips, no late fees
- 🏗️ 💳 💵 - Get the only credit builder loan that gives you up to $1,000 right away, with no hard credit check3
Looking for a higher borrowing amount?
MoneyLion’s Credit Builder Plus might be right for you. For a $19.99/month fee, you’ll have access to credit building tools including:
- Loans up to $1,000 with competitive APRs
- 0% interest cash advances
- Weekly credit score updates
- Lion’s Share Rewards (members-only cashback program)
Credit builder loans can give you the cash you need now, with a little extra in a Credit Reserve Account that you’ll get when you pay back your loan in full.
How easy is that!
| Pros | Cons |
|---|---|
| ✔ No credit check | ✘ Majority of loan funds are in a reserve account |
| ✔ Competitive APR on loan (5.99%-29.99%) | ✘ Relatively small loan amount |
| ✔ Receive cash upfront | |
| ✔ Access up to $300 in cash advances | |
Get cash advances up to $250 with no interest >>> Check out MoneyLion
#3. PockBox – Borrow up to $2,500 (even when your credit score is poor)
If you need access to more cash than the other cash advance apps on this list, PockBox can help you out.
Offering cash advances of up to $2,500, using PockBox is as simple as filling out a few forms and comparing available lenders in minutes. You can see what you qualify for without committing to a lender. And you can have the funds you need in your bank account as soon as the next day – if not sooner.
Loans start as low as $100 but go up to $2,500 and are ideal if you’re dealing with low or no credit. Even if you’ve been rejected by other lenders, you may still be eligible for a loan through PockBox.
If the borrowing limits of most cash advances isn’t suitable for your upcoming expenses, a loan via PockBox might be a better solution.
| Pros | Cons |
|---|---|
| ✔ Borrow up to $2,500 | ✘ No credit check loans can carry high rates |
| ✔ 100% free to compare options | |
| ✔ Compare up to 50 lenders | |
| ✔ Perfect for low credit borrowers | |
Compare Loan Offers Up to $2,500 >>> Browse Pockbox For Free
#4. Cleo – $100 cash advances with a side of sassy budgeting support
Cleo is an AI-powered financial assistance app. She’s also a hilarious wise ass.
Yep, you read that right.
Using artificial intelligence, Cleo helps you manage your finances from your smartphone by tracking your spending, helping you save automatically, and even earning cash-back rewards.
Or, in her own words, she’s an “app that doesn’t suck”.
Download the Cleo app (it’s free) and set up an account (also free) and you’ll receive powerful insights and advice on your finances. But, prepare to be put in your place while you’re at it because if you could be doing better with your money, Cleo will 100% let you know!!!
Why is Cleo one of our favorite cash advance apps?
- Super speed - You could have up to $250 in your bank account in under 10 minutes!*
- No, No, No! - No credit check, no interest, no tips, no late fees
- 😂 😂 🤣 - Hilarious, smart money advice you might finally listen to
Cleo’s top Features include:
- ‘Roast Mode’ if you need a little tough love on your spending habits
- ‘Hype Mode’ if you prefer to be complimented on your financial habits
- A credit-building card (with no credit checks and no interest; subscription required)
- Money-saving tools
And of course, Cleo cash advances of up to $100
When you need a $100 cash advance with no credit check, Cleo will send funds directly to your linked bank account (with no need to change your direct deposit or submit timesheets like apps like Earnin require).
Funds typically take 3 – 4 business days to land in your bank account. However, if you want instant funds, you can simply pay a $3.99 express fee to get your money inside 24 hours.
If you want to see how this AI-powered chatbot can help you manage your finances, set budgeting goals, build your credit and save your money, click below to try it out for yourself.
| Pros | Cons |
|---|---|
| ✔ Up to $100 in cash advances | ✘ Requires $5.99/month subscription |
| ✔ Up to $70 initial limit | ✘ Lower limits than other cash advance apps |
| ✔ No credit check | |
| ✔ No interest | |
Get Started in 2 Minutes (And Borrow $100) >>> Check Out Cleo’s Sass
#5. Dave – Borrow up to $500 from the OG cash advance app
Dave is probably the first app of its kind to directly address the overdraft fees problem. As a pioneer in the cash advance game, roughly 10 million people now use Dave to borrow up to $500 nearly instantly with zero interest and no credit check.4
The app is free to download and fast and easy to set up. While most apps only dole out small amounts to new customers, you may be eligible for a Dave cash advance for as much as $500 as soon as you sign up! There is no credit check. To determine how much you qualify for, Dave will consider a number of factors, including how long until your next payday, your history and spending patterns, and how much is deposited into your bank account each month.
You can receive your funds instantly (seriously, like in under a minute!) via the Dave Debit MasterCard; there is a $1.99 – $9.99 express fee depending upon the size of your advance. You can use your Dave debit card to withdraw cash from an ATM or to pay for purchases at the millions of merchants who accept Mastercard. (You can load some great offers onto your Dave debit card too, such as up to 10% cash-back at popular restaurants and retailers, and some limited special offers like 50% cash-back on your next order from Shake Shack!)
If you want to have your funds sent to your existing debit card in minutes, that’s an option too, though fees do apply. If you’re not in a rush, you can have Dave transfer your cash advance to your bank account within three business days with no interest and no fees. (You do need to subscribe to Dave for $1 per month to access cash advances plus some additional features.)
Your advance will be automatically repaid when you receive your next paycheck, but if you happen to need some extra time, Dave doesn’t charge late fees, either. This is a significant advantage according to Jonathan Merry, CEO and Founder of Moneyzine.
He explains, “the best feature to look out for is repayment flexibility. Most cash advance apps would withdraw the repayment of your debt from your next paycheck. However, other apps such as the Dave app allows you to ask for extensions. This could be handy if you needed more time to come up with the funds to pay but don’t want to incur late payment fees.”
| Pros | Cons |
|---|---|
| ✔ No credit check | ✘ Requires bank account access |
| ✔ No interest | |
| ✔ Receive cash in under 60 seconds | |
| ✔ Access up to $500 in cash advances | |
Get a cash advance for up to $500 instantly >>> Check out Dave
#6. Current – Borrow up to $200 in fee-free overdrafts with Overdrive
Current’s website claims they’re “focused on creating better financial outcomes for people” and with a range of features – from fee-free overdrafts to cashback and 4% APY savings accounts – it’s hard to argue with them.
One of Current’s most popular features is Overdrive which gives you access to up to $200 in overdraft protection on debit card purchases without charging overdraft fees. Your Current overdraft limit depends on your direct deposits and there’s no fee for using this helpful service to help you cover expenses when you’re between paychecks.
Qualifying for no-fee overdrafts with Current is easy. Just set up a direct deposit of your paycheck of $500 or more each month, and up to $200 in overdrafts on your Current card can be covered, with zero overdraft fees!
Plus, Current can save you on more than just overdraft fees:
- Get paid up to 2 days early with faster direct deposits
- No ATM fees at over 40,000 in-network ATMs
- No minimum balance fees and no hidden fees
- 4% cash-back at local and national restaurants
- 2% cash-back at brand-name gas stations
- Earn up to 15x points towards cash back rewards at 14,000 participating merchants nationwide
| Pros | Cons |
|---|---|
| ✔ Up to $200 in fee-free overdrafts | ✘ Requires bank account for access |
| ✔ Fee-free ATMs | |
| ✔ No minimum balance or hidden fees | |
Get up to $200 whenever you need it >>> Get the Current app
#7. Brigit – Borrow up to $250 in fee-free overdrafts
Brigit offers instant cash advances to help you cover bills, make emergency payments, or just access the money you need to live your life.
You can be approved for anywhere between $50 and $250 per pay period with your borrowing limit tailored to your needs and ability to repay comfortably.
Brigit’s free plan includes limited features, which doesn’t include cash advances. You’ll need to opt in for a $9.99 monthly membership fee that unlocks cash advances up to $250. And look, we get it. Paying for an app subscription may not be on your radar, you’ll be hard pressed to go through your bills and find a single late fee that’s less than Brigit’s $9.99/month fee, which makes Brigit a great deal.
As a bonus, Brigit’s algorithm will predict when you’re likely to run out of cash before your next paycheck and send you an alert to let you know. As a Brigit Plus user, you’ll automatically receive up to $250 when you’re facing a shortage. This helps you avoid paying overdraft fees or NSF fees to banks who hope your account falls into a negative (so they can hammer you with more fees).
Let’s be honest, financial emergencies are guaranteed to pop up from time to time. But an app like Brigit can help you cover your monthly bills and payments without the sky-high interest that comes with many other cash advance apps.
| Pros | Cons |
|---|---|
| ✔ Access up to $250 in cash advances | ✘ Lower withdrawal amount |
| ✔ No credit check | ✘ $9.99 subscription required for cash advances |
| ✔ No interest or tip fees | |
Access up to $250 in fee-free overdrafts >>> Explore Brigit Now
#8. SeedFi – Borrow up to $9,000 with affordable credit-building plans
Let’s say you need access to a little extra money, but your credit score has taken a few bumps and bruises – SeedFi can help. If you’re in the ‘poor’ to ‘fair’ range then a credit builder loan like SeedFi’s Borrow & Grow Plan may be a great tool to help you access some cash right away. You can also build up savings for later AND build a positive payment history with every on-time payment.
Win-win-win.
With SeedFi’s Borrow & Grow Plan, you get some cash right away, while also building up some savings for later. Borrow & Grow Plan loans for first-time borrowers range from $1,500 to $9,000 with $300 to $5,000 accessible immediately and the rest of the loan locked in a savings account until you repay in full.5
Repayment periods range from 10 months to 48 months and APRs range from 11.59% to 29.99%.
Once the loan is paid off, the money in your savings account is all yours. You can spend it, save it, or move it wherever you like. Plus, your payments are reported to the major credit bureaus, so paying back your plan as scheduled could help build your positive payment history.
You can see exactly what you qualify for in just a couple minutes on the SeedFi website, with no impact to your credit score.
| Pros | Cons |
|---|---|
| ✔ Borrow up to $5,000 immediately | ✘ Total funds not immediately available |
| ✔ May improve your credit score | ✘ SeedFi Savings Account required |
| ✔ Plans for first-time borrowers | |
Access up to $9,000 >>> Our SeedFi Review
#9. Earnin – The free app offering up to $750 in no-fee cash advances
Available for both iOS and Android, Earnin helps you avoid overdraft charges and expensive payday loan fees by letting you access your earned wages early.
If you’ve worked but haven’t been paid yet, Earnin can give you instant access to up to $100 of your paycheck per day and up to a total of $750 per pay period.
Getting started is fast and easy. Just download the app, quickly link your bank account, and answer a few questions about your employer. Then, when you need a little extra cash, it’s yours with just a few taps on the Cash Out feature. Earnin then balances your borrowed amount automatically when you receive your next paycheck.
Simple!
Best of all, there are no mandatory fees and no interest charges to get paid early via Earnin. The app is truly free (Earnin will encourage you to leave an optional tip) which is hard to beat. And it’s certainly a better deal than paying $35 or more for each overdraft transaction or a payday loan with interest and fees that can well exceed a 100% APR!
| Pros | Cons |
|---|---|
| ✔ Access up to $100 per day | ✘ Requires regular pay schedule |
| ✔ Access up to $750 per pay period | ✘ Requires bank account for access |
| ✔ 0% interest | |
Borrow Up To $100 Right Now >>> Get started with Earnin here
#10. B9 – Cash advances up to $500 with one simple fee
If you’ve been working but are still a few days short of payday, B9 can help.
With the B9 app, you can access up to $500 of your earned wages at a time with no credit check, no interest on your advance, and no late fees to worry about.
With no express fees, optional tips, or interest, B9 charges just ONE flat fee – a monthly subscription. Choose between a Basic Plan ($9.99/month for advances up to $100) and a Premium Plan ($19.99/month for advances up to $500).
With just one flat fee, B9 ranks as the second-lowest-cost app for borrowing $100!
Great for gig workers, B9 considers income from multiple employers, including side hustles, government benefits, and income from freelancing work. This offers extra flexibility than some other cash advance apps on this list that only consider a paycheck from a single employer.
If approved, you can check how high your available advance is using the B9 app and request money in a few taps. Funds can be sent to a B9 debit card or to a regular bank account or debit card almost instantly – with no fee.
Since B9 advances are based on your unpaid earnings, not your credit score, the app is helpful for those dealing with a low credit score.
Access up to $500 of your wages early >>> Check out B9
| Pros | Cons |
|---|---|
| ✔ Access up to $500 of your wages early | ✘ Direct deposit required |
| ✔ No credit check | |
| ✔ No interest or late fees |
#11. Empower – Up to $250 cash advance with a high initial limit (and high subscription fee)
Empower offers instant cash advances up to $250 to help you get through to your next paycheck or just cover emergency payments
You can be approved for as much as $75 initially, which is a significant step up from the $20 to $50 initial limit of other apps like Cleo and Grid Money. There’s no credit check, so the app links to your bank account via Plaid and sets a borrowing limit tailored to your ability to repay comfortably.
Once approved, you can have your Empower cash advance sent to your bank account in a few minutes for a delivery fee (there’s no obligation to move your direct deposit to qualify) or in 1 business day with no fee.
Helping take the pressure off your shoulders (and notifications), Empower automatically schedules repayment for the date of your next recurring deposit. With no late fees to worry about, you won’t be punished if you’re a few days late though you can’t take out another cash advance until your outstanding advance and fees have been repaid.
Empower is free to use for 8 days. After your trial ends you’ll be charged an $8 auto-recurring monthly membership fee. This is less than apps like Brigit ($9.99/month) and B9 ($9.99 – $19.99/month) but you’ll still need to decide whether the subscription cost is worth it for you.
| Pros | Cons |
|---|---|
| ✔ Borrow up to $250 | ✘ Funds take 2-3 days to reach your account |
| ✔ No credit check | ✘ Requires access to financial information |
| ✔ High initial borrow limit | ✘ Requires $8/month subscription |
#12. Chime SpotMe – Instant Overdrafts for up to $200 with No Fee
With more than 20 million customers, Chime is the most popular mobile banking app in America!
One of its top features is SpotMe, which gives you instant access to up to $200 in overdrafts, without any overdraft fees.
Once you’re set up with SpotMe, you can overdraft right away for a quick $20 and that amount can grow to up to $200, based on your account activity and history. SpotMe lets you overdraft your Chime card via debit card purchases or you can withdraw cash at an ATM, even if your balance is below zero.
SpotMe has got your back when your bank balance is approaching (or already) negative territory. You just use your Chime debit card like you normally would to pay for purchases or or withdraw cash – you don’t need to fill out an application. For example, if you have $50 in your account and need to pay for a $65 dinner, most banks will charge you an overdraft fee of $35 or more. With SpotMe, you can use your Chime debit card and Chime will cover the $15 overdraft with no fee to you.
Once you make a deposit to your Chime account, your negative balance will be cleared and you can access your full cash advance limit again. Chime offers a variety of banking services at no charge, including no annual fees, no foreign transaction fees, no membership fees, no service fees, no monthly fees, and no minimum balance requirements.
Why have 14 million people ditched their high-fee bank for Chime?
#13. Klover – Low fee cash advances and daily prize drawings
With lower fees and free daily drawings for cash prizes, Klover is quickly climbing the most popular finance app rankings on the App Store and Google Play.
With Klover, you can borrow up to $200 with no credit check. Klover charges just one fee on cash advances, and express fee ranging from $2.99 to $9.99 depending upon your loan amount. There are no monthly fees, interest, tips, or late fees. (There is a $3.99/month subscription fee for Klover+, which gives you a few features like credit score monitoring and price comparison on popular products, but you don’t need to subscribe to borrow from Klover.)
A $100 cash advance costs just $9.99 in fees, making Klover one of the lowest cost apps for borrowing $100.
Besides the low cost, Klover other nifty feature is its points program. You can earn Klover Points as you sign up, link your bank account and complete other account creation tasks. Then, you can earn daily points by watching short video ads, completing surveys, participating in promotional offers, or sharing information about your spending habits with Klover. You can also win points by spinning a prize wheel, but watch out, you can lose points too!
You can use your Klover Points to enter daily cash drawings, where there is one $100 prize and five $20 prizes – it’s a nice way to scratch your lottery itch without paying for a ticket. You can also use points to increase your cash advance limit. Klover+ subscribers can redeem points for popular gift cards, too.
Why is Klover becoming one of the most popular cash advance apps?
- Super speed - You could have up to $200 in your bank account in under 10 minutes!
- No, No, No! - No credit check, no interest, no subscription fee, no tips, no late fees
- 🎰🤑💰 - Earn Klover Points that you can use to enter free daily cash drawings or boost the size of your cash advance
How to choose the best cash advance app
The best apps to get a cash advance won’t be the one with the flashiest interface, the lowest fees, or the highest cash advance limits.
Each app on this list has its own pros and cons. What can look like an easy short term loan to top up your checking account might also come with hidden costs or strict eligibility requirements. To get started, consider how much money you need to borrow. If you need more than $250, you’ll be able to rule out apps like Klover, Chime SpotMe and Brigit, which have lower lending limits.
Don’t be discouraged if your credit score has taken some lumps. Many of the cash advance apps on this list are designed for people with poor credit and don’t require a credit check, so you’re not without options. Finally, don’t be swayed by what other users are saying online. Your financial situation is unique to you. Consider downloading a handful of the apps on this list and testing them out before making any commitment.
Should you download and use a cash advance app?
This will be a personal decision, but if the alternative is a payday loan with sky-high fees and eye-watering interest rates, then the answer might be ‘yes’.
There are going to be times when you need a little extra to tide you over until payday. Although borrowing from a friend and putting your purchase on a credit card are popular options, cash advance apps make things simpler and easier.
You get a portion of your next paycheck early, so there’s no stress about whether you’ll be able to pay back the debt. And with many of 2023’s best instant cash advance apps landing with low or no fees, you’re not at the whim of your bank’s overdraft fees or greedy payday lenders.
And while we can tell you which cash advance app has the lowest fees and highest limit, it may not be the best cash advance app for you. Each app has its own credit criteria and policy, so an app that boasts loans up to $500 but will only approve you for $20 may not be a great fit. Similarly, apps like Dave have a low subscription fee of just $1 a month, you may prefer to avoid adding yet another recurring charge to your budget and should choose one of the many cash advance apps with no subscription fee.
How fast can I get a cash advance?
Many apps claim to offer instant cash advances, and many that we’ve tested live up to that claim. We’ve been able to get cash in our bank account less than ten minutes after downloading the app! Of course, in nearly every case you’ll pay extra for that conveniences, with express fees that can add quite a bit to the cost of borrowing a few bucks. However, if you are able to plan ahead and can wait a few days (or sometimes longer) to get cash in your account, most apps offer a slower delivery option without the express fee.
(If you’re crafty, you can actually borrow with NO FEES – legitimately. Here’s how you can get a free cash advance.)
We’ve put together the table below to help you compare possible wait times.
| App | Express Fee Get Your $$$ Instantly | Free Cash No Fees, But Not Instant |
|---|---|---|
| Albert | $6.99 | 2 – 3 business days |
| B9 | N/A | Instantly |
| MoneyLion (external account) | $4.99 | 3 – 5 business days |
| MoneyLion (RoarMoney account) | $3.99 | 24 – 48 hours |
| PockBox | N/A | As little as 1 business day |
| Cleo | $3.99 | 3 – 4 business days |
| Dave Spending Account | N/A | Instantly |
| Dave (external account) | $1.99 – $5.99 | Up to 3 business days |
| Brigit | N/A | 1 – 3 business days |
| SeedFi | N/A | 1 – 2 business days |
| Earnin | $0.99 – $3.99 | 1 – 2 business days |
| Empower | $1 – $3 | 1 business day |
Want to get your money? You may need to meet these criteria
While not all of the apps on this list require a credit check, most lenders will still have certain eligibility criteria or thresholds before letting you borrow funds.
Depending on the app you choose you may need to meet some or all of the following conditions:
➢ Electronic Timesheet: Earnin is an example of an app that requires you to be enrolled in an electronic payroll system. This is because Earnin needs to know that you are actually working before the app will let you borrow against your wages.
➢ App Subscriptions: Certain cash advance apps require you to pay a monthly subscription fee to access money quickly (or at all). For example, Dave requires a small $1/month subscription fee. Cleo requires a $5.99/month subscription fee. And Albert is free – though you’ll need to pay an express fee of $6.99 to access your funds immediately vs. waiting three days.
➢ Bank Accounts: Some cash advance apps will require you to have a bank account. This is typically an eligibility criteria for two reasons. First, an app needs the ability to deposit funds into your bank account. Secondly, many apps automatically withdraw repayments from your account.
➢ Direct Deposit: Most of these apps will require you have a direct deposit of your paycheck, retirement income or government benefits to qualify for a cash advance. Some will link to your existing bank account and so they can verify your direct deposit, while others require you to set up a new account and move your direct deposit. Changing your direct deposit can be a hassle. But it may enable you to get nearly-instant cash advances without paying express fees.
Final thoughts and what to do next
77% of Americans are anxious about their financial situation so if you’re struggling with your finances, well, you’re far from alone.
The options listed in this guide can help you get an advance on your paycheck. However, your specific needs will determine which app is right for you. Alternatively, you can download several of the best cash advance apps on this list so you’ve always got an option to access extra cash in your back pocket (literally).
In case of an emergency, using a cash advance app can be a much better solution than dipping into an overdraft, or overdrawing your bank account without authorization. Paycheck advances can also be better than simply letting bills go unpaid as missed bills can lead to dishonor fees, service cancellations and stiff charges for reinstatement. While cash advance lenders have long had a reputation for charging sky-high rates, many of the lenders on this list charge no interest and provide low or no fee options!
Whichever app ends up on your phone, be careful to review the terms, conditions, and fees of the cash advance app you choose. Stay informed and you’ll have the info you need to get the funds you need, when you need them, in a way that works for you. You should always make sure that you understand the costs and terms of any loan before agree to borrow money.
So, there’s just one question left to answer… you’ve read our list of cash advance apps, so which one will you download next?
How we picked these cash advance apps
To come up with this list of the best cash advance apps of 2023, we picked a handful of the most popular apps, downloaded them onto our phones, and got to work putting them to the test. We considered a host of features including fees (upfront or hidden), eligibility, borrowing limits, and interest rates. We also looked for additional features that might benefit you when you need to borrow quick cash. These include credit checks, speed of accessing funds and overdraft support. We may receive a referral fee if you purchase or use some of the products described in this article.
WAIT! High overdraft fees aren’t the only way your bank is costing you money.
With inflation overheating, you’ve probably heard that interest rates are climbing sharply. That means that for the first time in years, it’s a great time to shop around for a high interest savings account.
The national average interest rate for savings accounts is currently 0.23% APY – that means that if you have $2,500 in a savings account, you’d earn just $5.76 after one year! Move those hard-earned savings to an FDIC-insured bank paying 3.50% APY and you’d earn $81.73 more!
Don’t let your hard-earned savings sit there doing nothing. Check out the rates that you can earn at other banks:
Mitchel holds a Bachelors of Business Administration in Finance from The Goizeta School of Business at Emory University and a Masters of Business Administration from The Haas School of Business at The University of California.
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- Download the Albert app to see if you qualify. Repay the advance with your next paycheck. Fees may apply. Advance amounts based on qualification and may vary. Albert is not a bank. Banking services provided by Sutton Bank, Member FDIC.
- Instacash is an optional service offered by MoneyLion. Your available Instacash Advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. See Membership Agreement and help.moneylion.com for additional terms, conditions and eligibility requirements.
- When you apply for CreditBuilder Plus, MoneyLion will perform a soft credit pull to review certain financial information. This soft inquiry has no impact to your credit score and may or may not be recorded in your credit reports depending on the bureau. This is unlike a hard credit pull which affects your credit score and can appear on your credit report for two (2) years. Credit score improvement is not guaranteed. A soft credit pull will be conducted that has no impact to your credit score.
- ExtraCash™ is a DDA account with overdraft utility that is subject to eligibility requirements. Taking an ExtraCash™ advance will make your account balance negative. Express delivery fees apply to instant transfers. See the Extra Cash Account Agreement for more details.
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Sample Borrow & Grow Plan: Amount Financed: $7,000 ($3,500 accessed up front and $3,500 locked in savings), APR: 24.99%, Finance Charge: $3,318, Total of Payments: $10,318, Payment Schedule: 85 biweekly payments of $120 and one final payment of $118. The payment schedule spans 40 months.
Advertised rates and terms will be subject to change without notice. Your actual APR and other loan terms will be shown to you as part of the online application process.
If you check your offers, SeedFi issues a soft credit inquiry, which does not impact your credit score and is not visible to creditors. If you select a SeedFi loan offer and continue with your application, SeedFi will issue a hard credit inquiry, which may affect your credit score.
Personal loans and banking services provided by SeedFi’s bank partner, Cross River Bank, Member FDIC.
- Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month and Visa debit card activation. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See terms and conditions.
- Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
