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- $5.99 monthly membership fee
- Borrow up to $250
- No credit check required
- No interest on cash advances
- Connect bank account to access cash advance
Cash advance apps are a convenient way to borrow small amounts of money before payday. Cash advance apps don’t charge interest. Instead, you pay a monthly fee or tip, although some apps are free. This generally makes them cheaper than loans.
Best cash advance apps
- Best for gig workers: Cleo
- Best for overdraft feature: Chime SpotMe
- Best for large advances: EarnIn
- Best for payment flexibility: Brigit
Best for gig workers: Cleo
Cleo
4.1
★★★★★
Finder score
Cleo is an AI-powered budgeting and cash advance app that could work well for gig workers and freelancers. The reason is that unlike other cash advance apps, you don't need to show a minimum amount of recurring deposits to qualify for cash advances.
As long as you have consistent income, you could qualify for cash advances up to $250 after you establish an income history. To get advances through Cleo, you'll need to pay a monthly subscription fee of $5.99 and same-day transfers cost an additional $3.99.
| Loan amount | $20 - $250 |
|---|---|
| Turnaround time | 3 to 4 days or instant for a fee. |
| Costs | $5.99 monthly membership fee to access cash advances |
- Available in all states
| Loan amount | $20 - $250 |
|---|---|
| Turnaround time | 3 to 4 days or instant for a fee. |
| Costs | $5.99 monthly membership fee to access cash advances |
Best for overdraft feature: Chime SpotMe
Chime SpotMe®
4.2
★★★★★
Finder score
Chime SpotMe is a no-fee service offered through Chime that allows overdrafts of up to $200 for your Chime Checking account. To qualify for an advance, you need to have at least $200 direct deposited into your Chime checking account every month.
Limits also start at a low $20 — but with regular deposits and a solid account history, this limit can increase to $200. And if you receive your paycheck via direct deposit to your Chime Checking Account, you can get your paycheck up to two days early.
| Loan amount | $20 - $200 |
|---|---|
| Turnaround time | Instant |
| Costs | No fee |
- Available in all states
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Direct deposit: 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. SpotMe: 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 at least once every 34 days. 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.
| Loan amount | $20 - $200 |
|---|---|
| Turnaround time | Instant |
| Costs | No fee |
Best for large advances: EarnIn
EarnIn
4.7
★★★★★
Finder score
EarnIn is a free app that lets you borrow $150 a day and up to $750 of the money you've earned each pay period — with no monthly or other mandatory fees. With EarnIn, your advance amount depends on the hours you've worked, which you can verify in a few different ways.
While no fees or tipping are required to use EarnIn, you need to provide a work schedule, a work email address or GPS earnings so EarnIn can view what you've made. Normal transfer times are one business day or within minutes if you use EarnIn's Lightning Speed service — which costs up to $4.99 per transfer.
| Loan amount | Up to $750 |
|---|---|
| Turnaround time | 1 to 3 business days or instant for a fee |
| Costs | Free to use or instant with a fee as low as $3.99. |
- Not available in: Connecticut
| Loan amount | Up to $750 |
|---|---|
| Turnaround time | 1 to 3 business days or instant for a fee |
| Costs | Free to use or instant with a fee as low as $3.99. |
Best for payment flexibility: Brigit
Brigit
4.2
★★★★★
Finder score
Brigit is a financial app that has a free and paid subscription. To get cash advances up to $250 per pay period, you must sign up for one of two paid plans: Plus or Premium. Both offer cash advances and payment extensions, but Premium gives you access to free instant transfers and Brigit's credit builder program.
To request a payment extension, select the extend repayment option in the app, then select a date that works for you. Repayment extensions are available to users with at least two consecutive on-time payments before the request. You can store up to three payment extensions for use later.
| Loan amount | $50 - $250 |
|---|---|
| Turnaround time | 2 to 3 business days or instant with a Premium subscription or for a fee. |
| Costs | Free: $0/month; Brigit Plus: $9.99/month; Brigit Premium: $14.99/month |
- Available in all states
| Loan amount | $50 - $250 |
|---|---|
| Turnaround time | 2 to 3 business days or instant with a Premium subscription or for a fee. |
| Costs | Free: $0/month; Brigit Plus: $9.99/month; Brigit Premium: $14.99/month |
Why trust Finder
- 15+ cash advance products reviewed by our team of experts
- 20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
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Pros and cons of cash apps
Compared to payday and installment loans, which can be predatory and charge sky-high interest rates exceeding 700% or more – cash apps are a cheaper alternative to borrowing money.
Here are the main pros and cons of using a cash app.
Pros
- No interest or finance fees charged. Unlike payday, installment and personal loans, cash apps don’t charge interest or finance fees.
- Low or no fees. Most cash apps come with nominal fees, usually between $1 and $10 per month. Some charge no fees and only require you to pay for optional instant transfers.
- No credit check. Unlike most loans, cash apps don’t require a credit check and have no minimum credit score to qualify. This is great if you have bad credit or no credit history.
- Overdraft protection. Many cash apps monitor your bank balance and will alert you or send funds automatically if you’re at risk of an overdraft.
- Good for emergencies. A cash app is generally a cheaper way to access small amounts of cash than using a credit card advance or in-store payday loan, which typically costs $10 to $30 per $100 borrowed.
Cons
- Low amounts. Most apps only lend up to $250 per pay period. This is fine for smaller expenses like fuel but won’t cover major ones like car repairs.
- Transfers can take a few days. Most cash apps offer free transfers, but they can take a few days. To get cash sooner, you typically have to pay a fee. Brigit is one app that allows free instant transfers with a linked bank account.
- May overdraft your account. Cash apps deduct money from your bank account to repay your cash advance, which could cause an overdraft if you’re not careful.
- Can feel invasive. Cash apps require a link to your bank account to monitor your direct deposits, and some require you to upload your work schedule or enable GPS tracking to verify you’re at work.
- May lead to dependency. Repeatedly borrowing against your paycheck can lead to poor financial habits that discourage you from spending wisely.
Are cash apps payday lenders?
Cash apps are not payday and installment lenders. Payday lenders and the like are known for charging mega-high rates, often exceeding 700% APR or more. Cash apps never charge interest on what you borrow — and you only borrow against your future earnings, which can help keep you out of a cycle of debt.
How cash advance apps work
Cash advance apps analyze your finances and offer cash advances of varying amounts — anywhere from $20 to $500 and up. How much you can borrow typically depends on a mix of the following factors:
- Direct deposit history
- Minimum bank balance
- Number of hours worked
- Spending habits
- Upcoming bills
How to find the best loan app
Here are six considerations when choosing a cash advance app:
- Customer reviews. Online reviews on Google Play, the App Store and Trustpilot are great places to get a sense of real-life customer experiences as well as how easy or difficult it is to qualify for advances and receive money.
- Fees. Compare monthly fees, tipping requirements and instant transfer fees. For example, if you do a lot of instant transfers, you’re better off with an app that charges $3.99 per instant transfer versus one that charges $11.99 per transfer.
- Cash advance limits. Apps vary widely in how much you can borrow, with limits ranging anywhere from $20 to $500 and up. To get higher advance amounts, you need to set up direct deposit and establish a history of regular deposits.
- Repayment requirements. Most apps automatically deduct what you owe from your next paycheck, but some apps, like Brigit, allow you to change or extend your repayment due date if you need more time. This can be helpful if you’re worried about overdrafts.
- Employer requirements. Most apps don’t require you to work for a specific employer, but apps like Even, Payactiv, FlexWage and Branch require that your employer supports the app.
- Security and hacks. While no app provider is 100% secure, most use 256-bit encryption and adhere to PCI DSS standards – the same used by all major banks. But hacks and data breaches can occur on cash advance apps.
Should I use a cash advance app?
You might be a good candidate for a cash advance app if:
- You receive a biweekly paycheck that doesn’t align with your monthly billing cycle.
- You regularly find yourself overdrafting your account and paying hefty fees.
- You’re willing to pay extra for services that can improve your personal finances, such as credit-building programs.
- You rarely need to borrow more than $250 per pay period.
- You currently have bad credit or no credit history.
You want to avoid a cash advance app if you have trouble maintaining a positive bank balance due to overdraft fees.
If you’re self-employed and don’t think you’ll be eligible for a cash advance app, read our guide to getting a loan while self-employed. Those who just started a new job or have a job offer, consider your options as a new employee.
What if I can’t pay back my cash app advance?
If you can’t pay back your advance, your bank account will likely be overdrawn, leading to an overdraft fee. However, some apps, like Brigit, may let you change your due date if you foresee being unable to repay on time. You’ll want to stay on top of your bank balance to make sure you don’t end up paying overdraft fees on your cash app loan.
Need cash right away?
A handful of cash advance apps can get you funds within minutes or 24 hours or allow for instant cash pickup at storefront locations. But not all cash advance apps have an instant turnaround time — it may take up to three business days unless you pay an instant transfer fee.
And keep in mind that “instant loans” usually come as a paycheck advance, which means they may only be available to users with a history of regular direct deposits. For example, it may require direct deposits from the same source for 60 days before you’re eligible for advances.
FAQs
Do cash advance apps charge interest?
No, cash advance apps don’t charge interest. However, some apps charge monthly subscription fees and instant transfer fees which can result in relatively high equivalent APRs, depending on how much you borrow and how soon you have to pay back the advance.
Can I get a cash advance if I’m a new user?
Yes, several cash advance apps may let you borrow money right away, but you likely won’t qualify for the maximum amount until you’ve established an income history with the app, which could take several weeks.
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