In June 2018, GoChange announced that they are now only working with large corporations and not directly with customers. The GoChange app was an Artificial Financial Assistant, a personal CFO, created to optimize the $200B Personal Banking Market. If you were looking for a cash advance, you should now check out apps like GoChange.
Although GoChange isn’t directly available for customers anymore, and for the convenience of our visitors, we haven’t made any changes to the rest of this article.
One of GoChange’s main product is their feature “Predictive Overdraft Protection” which was made to help you avoid overdrafts.
After approval, you will be able to receive interest-free cash advances of up to $100. They do not charge any fees but request tips if you appreciate their service.
How It Works
After navigating through their website, all you have to do is sign up and connect your bank account. They will then ask you to activate the services that most interest you: personal CFO, auto-saving and overdraft protection! Once activated the overdraft protection feature will enable you to borrow up to $100 in form of a cash advance to your checking account. They basically try to compete with your bank’s overdraft protection. Paying GoChange back is easy. Once you get your paycheck, they will automatically withdraw the amount you borrowed directly from your account.
When you first sign up to GoChange you are eligible to receive up to $100/month, you can increase that number to $250 by referring new users. For each of the first three people you refer you receive a $50 limit increase. The more money you receive the longer you have to pay the money back.
Similar to Dave, their loans are interest-free. They encourage their users to leave a tip – and, about 70% of their users do!
They will also charge a fee if you wish to receive money on same day on which you request it.
According to their website, there are a few loan approval criteria. You have to have some financial data to analyze, they want you to prove that you actively use your bank account and you have to have a minimum income of $1,000 per month. They do not lend to individuals who have received 10 or more overdraft charges 4 months prior to signing up (sorry, heavy overdrafters!).
Apps like GoChange
Since GoChange isn’t interested by you anymore, you should check similar apps. In our opinion, GoChange’s interface was in need some serious improvement, and the amount they advance might not be high enough for you (and you are currently in a state of “I need a loan now“!), you should also check out apps like GoChange.
The GoChange app, among other features, offers a simple overdraft protection solution. If you overdraft often and don’t want to switch banks with no overdraft fees, this could help you a lot. Simply create an account, connect your bank account and begin borrowing $100-$250 interest free loans (depending on how many referrals you make). Other than voluntary tips, and urgent loan fees, the app is free.
We like this app; however, it is a new company and we feel like they have some room for improvement. Their website is difficult to navigate, their primary benefit is slightly unclear, and the loan quantity structure and sign up requirements are a little confusing. In the future, we think this app will be an amazing overdraft solution!