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.
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 |
| 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 |
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 — starting at $2.99 per transfer.
| Loan amount | Up to $750 |
|---|---|
| Turnaround time | 1 to 3 business days or within minutes for a fee starting at $2.99 per transfer |
| Costs | Free to use or within minutes with a fee as low as $2.99 per transfer |
| Loan amount | Up to $750 |
|---|---|
| Turnaround time | 1 to 3 business days or within minutes for a fee starting at $2.99 per transfer |
| Costs | Free to use or within minutes with a fee as low as $2.99 per transfer |
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 | Brigit Plus: $8.99/month; Brigit Premium: $14.99/month |
| Loan amount | $50 - $250 |
|---|---|
| Turnaround time | 2 to 3 business days or instant with a Premium subscription or for a fee. |
| Costs | Brigit Plus: $8.99/month; Brigit Premium: $14.99/month |
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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.
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.
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:
Here are six considerations when choosing a cash advance app:
You might be a good candidate for a cash advance app if:
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.
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.
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.
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.
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.
Our team of loan experts looked at 16+ cash advance apps before narrowing it down to the best. We also regularly review and update our selections to make sure our picks are the best in the market and best suited for their categories.
Each app is weighed across 10 key metrics: Borrowing limits, monthly subscription fees, turnaround time, transfer fees, tip requirements, ease of use, state availability, additional financial features, ease of verifying accounts and overdraft protection features. We also consider customer reviews and Better Business Bureau accreditation.
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