Vola Finance Cash Advance App Review: Mixed Bag
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- Max. Amount
- $500
- Turnaround time
- Within 5 hours or instant to Vola card
Our verdict
This provider recently raised its advance limits, but it’s not transparent about membership fees.
Vola recently raised its advance limits from $300 to $500, making it a more competitive choice for customers seeking larger advances. Plus, it never charges for transfers, which is fairly unusual in this space. It also offers budgeting tools, overdraft alerts, spending analytics and other financial services. But it’s not transparent about subscription fees and has a longer-than-usual cooling-off period between advances.
Best for: People who want to borrow up to $500 between paychecks, with an option to extend the due date if needed.
Pros
-
Advances up to $500
-
Free fund transfers
-
Ability to change repayment date
Cons
-
Not transparent about subscription fees
-
Five-day cooling-off period between advances
-
No “instant” transfers without Vola card
Is Vola legit?
Vola is a legitimate cash advance provider that’s been in business since 2017 and has partnerships with other legit organizations, such as Experian, Plaid and Patriot Bank. It has physical, electronic and procedural safeguards to protect personal information and encourages customers to use SSH and SCP programs to further safeguard their data.
What makes Vola shine?
We love that Vola doesn’t charge transfer fees — no matter how you choose to receive the funds. Funds typically arrive in your external bank account within five hours or less, or you can get them instantly to a Vola card.
It’s also convenient that Vola allows you to extend your payment date when needed. You can request extensions by email or through the mobile app as soon as 10 days before your existing due date.
Where Vola falls short
One of the biggest drawbacks of Vola is its membership structure and fees. First, it doesn’t reveal what its membership levels (or “tiers” as it calls them) are, what they offer and how much they cost. It only states that membership fees start at $1.99. However, third-party and customer reviews say fees could be as much as $29 a month, which is on the high side for these apps, some of which don’t charge subscription fees at all. Reviews also suggest that the more you want to borrow, the more you’ll pay per month.
Some users complain about the five-day cooling-off period between advances, which is longer than most apps. Some competitors will provide another advance as soon as you repay the last one. Vola claims the wait is because its payment provider takes up to five days to confirm the repayment, but it may lose customers due to that delay.
Vola cash advance app details
| Product name | Vola Advance |
| Loan amount | Up to $500 |
| Loan term | Until next payday, but can extend |
| Turnaround time | Within 5 hours or instant to Vola card |
| Costs | Subscriptions start at $1.99 |
| Requirements | At least 18 and legal US resident, active bank account that’s 3 months old, average balance of $150 |
Vola contact info
| Phone number | 877-398-8652 |
| Customer service hours | Weekdays: 9 a.m. to 5 p.m. ET |
| hello@volafinance.com | |
| X, formerly Twitter | @VolaFinance |
| Vola |
How to qualify for Vola cash advances
Here are the criteria needed to qualify for Vola advances, as stated on its website.
- Be at least 18 and a legal US resident
- Have a bank account that’s at least three months old
- Have banking activity most days of the week
- Carry an average bank balance of $150
- Have proof of regular income/deposits
Other features
Aside from cash advances, Vola offers the following services and features:
- Expense tracking
- Budgeting tools
- Credit building
- Low balance alerts
Vola reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | B |
| BBB customer complaints | 22 customer complaints |
| App Store Score | 4.5 out of 5 stars, based on 22,800 customer reviews |
| Google Play Score | 4.1 out of 5 stars, based on 4,520 customer reviews |
| Customer reviews verified as of | 26 December 2024 |
Vola has a B rating on the Better Business Bureau (BBB) based on how it handles customer complaints. However, it’s not accredited and doesn’t currently have a star rating. Complaints on the BBB cite unresponsive customer service, difficulty canceling subscriptions and longer-than-expected transfer times.
It appears to have higher marks on both Google Play and the App Store, with more than four stars on each platform. Happy customers say the app is easy to use and customer service is helpful, although even positive reviewers mention small loan amounts at first and the five-day cooling-off period. Negative reviewers had complaints similar to those on the BBB, plus billing issues or inability to qualify for advances even after paying the membership fees.
What do people on Reddit say?
Another person complained that Vola doesn’t have an instant option, but someone else pointed out you need a Vola card to get an instant advance. Otherwise, it can take a few hours to a day. One Redditor said if you email Vola to ask for an advance, you might be able to have the membership fee waived.
>Compare Vola to other apps
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Frequently asked questions
Does Vola require direct deposit?
No. Vola is one of the few apps that don’t require direct deposit to qualify for advances. You will need to demonstrate regular income or deposits, though.
What kind of bank accounts are supported by Vola?
Vola supports over 6,000 banks and credit unions, but you’ll have to download the app to find out if your bank can connect with this provider.
What is a Vola score?
The Vola score helps you to see how well you’re doing with your finances. You can improve your score by using the Vola app, avoiding NSF fees, raising your average bank account balance and repaying your advances on or before the due date. You’ll also become eligible for larger advance amounts and additional benefits as your score goes up.
Can I make partial payments or repay the advance early?
Yes, you can repay your advance at any time or make partial repayments before your due date. In the app, select Make payment on the active advance, then Custom Amount to choose how much you want to pay.
Your reviews
Lacey Finder
Writer
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