Top 12 Cash Advance Apps like Dave
Do you know there are cash advance apps like Dave? In an era marked by financial uncertainty and unexpected expenses, the rise of cash advance apps has provided a lifeline for many individuals facing temporary cash shortages.
It is a fact that among these apps, Dave has garnered significant attention for its user-friendly interface and fee-free cash advances. However, as the demand for such services grows, so does the variety of alternatives available to consumers seeking similar solutions.
While Dave has undoubtedly made a name for itself in the realm of cash advance apps, it’s essential to explore other options that may offer comparable benefits and features. Here, we delve into a selection of alternatives to Dave, each with its pros and cons.
What is Dave App?
With its exclusive personal financial features, the Dave app is a cash advance that can help you get your finances in order. You might be eligible for cash advances of up to $500 with this app, unlike many others, although the maximum is subject to vary based on your qualifying circumstances.
Even if you don’t use the Dave app, there is a $1 membership fee that you have to pay every year. All you have to do is register with Dave and ask for a cash advance.
How to Qualify:
- Own a checking account that’s at least 60 days old
- Have about two recurring direct deposits in your account from your employer
- Your account must maintain a positive balance
Dave will also consider how much you receive each month via direct deposit, how much you have spent in your linked account, and how long it will be until your next paycheck. It has no effect on your credit score because Dave doesn’t check it for cash advances.
For no additional cost, you can transfer the money straight to an external bank account, or for a little fee, to an external prepaid debit card. For quick access to the money, Dave also provides the opportunity to open a Dave Spending account (via Evolve Bank & Trust).
On your subsequent payday, an automatic withdrawal will be made to repay the amounts. Online registration is available if you want to use the Dave app. When you require a cash advance, though, you have to download the app.
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Top 12 Cash Advance Apps like Dave
Below are the top apps like Dave that you can use to get small cash advances with low or no fees:
1. Chime
With Chime, you can get up to $200 in cash advances on debit card transactions and cash withdrawals. Although their SpotMe product doesn’t impose overdraft fees, it isn’t a cash advance.
Rather, it functions like a credit line that you can use by using your Chime debit card to make purchases. The majority of customers begin with a $20 credit limit, but those with good credit can work their way up to $200.
Chime will automatically pay the overdraft if you go over your bank account limit, which will lower the amount of accessible credit. The loan repayment is then immediately deducted by Chime from your subsequent paycheck.
How to Qualify:
- Have direct deposits of at least $200 within the last 30 days
- Own an active Chime Visa debit card
Pros:
- No charges for overdrafts
- No monthly service charge, or penalty fees
- Instant access to your paycheck
- Can get up to $200 if needed
Cons:
- Advances only permitted with a Chime account & Visa debit card
- Initial limits are lower
Chime demonstrates no-hassle online banking with a quick and easy-to-use app that allows you to manage all of your accounts in one place, and best of all, there are no fees to worry about
2. Varo
Varo delivers cash advances of up to $500, and they don’t require tips or interest. Instead, you pay a flat rate based on the advance amount and repay it on your next payday.
How to Qualify:
- Maintain an active Varo checking account for the last 30 days
- Obtained at least $800 in direct deposits in the last 30 days
- You have 30 days to repay the loan, and Varo will instantly withdraw the funds.
Pros:
- Cash advances of $20 or less have no charges
- Instant access to your direct deposit paycheck
- Access to multiple online banking features
Cons:
- The cash advance limit is lower
- The charges compared to the cash advance limits are high
3. Empower
Members of Empower can receive a cash advance of up to $250; there are no fees or credit checks required.
The transfer takes a few days, similar to most cash advance apps, but if needed, you can pay a charge to have a quick transfer. Either your Empower card or an external bank account can receive the funds.
How to Qualify:
- Constant direct deposits from your employer
- A good bank account history
- A long-standing history of direct deposits
Pros:
- Keeps all your finances in one place
- Quick access to funds to avoid overdrafts with no fees
- Makes it easy to save money instantly
Cons:
- High monthly charge
- Only permits cash advances up to $250
4. Cleo
With Cleo, an AI-powered personal finance app, you can manage unforeseen costs and budget for payday. With no credit check or interest, the app will lend you up to $250 (or $100 if it’s your first time).
Cleo’s advances take three to four days, but for an express premium, you can have an advance the same day. Please be aware that cash advances are only accessible with a Cleo Plus or Cleo Builder membership, which costs $5.99 to $14.99 per month.
How to Qualify:
- Link your bank account
- Enter “cash advance” in the Cleo app’s chat
- Affirm your identity
- Select your payment and repayment dates and authorize auto-pay
Pros:
- Adjustable repayment options
- No interest or charges
- Helpful personal funds tools with subscription
Cons:
- Needs paid subscription
- Caps advance for fresh users at $100
5. Albert
Another well-known app that offers cash advances up to $250 is called Albert. Similar to Dave, there are no fees or interest charged, and you are eligible for up to three cash advances in a pay period, with a $250 maximum.
Like most applications, Albert’s cash advance program starts you off small and builds your credit with each successful loan payback. You can arrange for an extension if necessary, but you will pay back the loan in full on your subsequent payday.
How to Qualify:
- Maintain an active checking account for at least 60 days
- Demonstrate that you have direct deposit in the active checking account
- Show proof of a stable income for at least the last 60 days from the same employer
- Prove you have reserves in your account 24 hours after payday
Pros:
- There is no monthly service charge
- Quick access to direct deposit funds
- Cash advance up to $250
Cons:
- No joint accounts are permitted
- Most features demand a $14.99 monthly subscription
- APY on savings accounts is lower
6. Axos
Since Axos doesn’t provide loans or cash advances, it isn’t a cash advance app similar to Dave. But, they provide a service known as “Direct Deposit Express” that enables you to get your salary several days ahead of schedule.
It may sound unusual, but Axos pays you before most banks do, allowing you to receive your paycheck before the deposit clears.
Therefore, Axos gives you instant access to the funds as soon as they learn that your employer deposited your check, which for most people is a few days before their scheduled payday. Axos retains the monies after they clear since they “advanced” them to you before their clearing.
Pros:
- Fast access to your paycheck
- Advanced APY on account balances with simple tasks
- No monthly charges
Cons:
- There is no cash advance option if you come up short
- Charges $50 to open an account
- Must have direct deposit for early paycheck access
7. Earnin
Earnin allows you to access your earned money ahead of time. But they believe you should have access to the money if you worked for it, so they give you up to $750 in a pay period and $100 per day.
You need to download the Earnin app, validate your job and income, and gain early access to your earnings. The amount of money you can access early is then determined by Earnin by tracking your hours.
To get early access to your salary, you must have a direct deposit. After that, immediately before your paycheck, you can request money using the Earnin app, and it will arrive in your bank account as usual.
Earnin retains the part of the sum that has already been advanced to you when you get paid, so you don’t have to worry about making payments or interest.
Earnin transfers typically take a few days, but if you’re in a pinch, you can spend a few bucks for a Lightning Speed transfer.
Pros:
- Gain access to your earned income as you make it
- No charges or interest
- Know when your account is low to bypass overdrafts
Cons:
- Direct deposit has to be set up
- You must provide Earnin access to your checking account
- It can be a bad habit to access earned funds early
8. Payactiv
Another app that gives you access to earned money before payday is Payactiv. However, this app is only functional if your employer has a subscription.
You can receive your money as soon as you get it if your employer makes use of Payactiv. You have the option to withdraw cash or transfer the money to your card or bank.
The app will keep track of the hours you work and the amount of your wages that you can transfer each day if your company offers Payactiv.
Either schedule automatic transfers or send money only when it’s needed. Additionally, if you access funds ahead of schedule on your payday, Payactiv will retain the percentage that was advanced to you.
Pros:
- You can access your pay as you earn it
- There are no charges or penalties
- It offers many other standout features
Cons:
- Can’t access cash without your employer signing up
- This could lead to bad habits of spending cash before payday
- The website isn’t very user-friendly
9. MoneyLion
MoneyLion is like Dave, but some members’ cash advance limits are as high as $500. However, MoneyLion offers more than cash advances; it’s a personal finance app that helps members get control of their finances and reach their goals.
To get a cash advance with MoneyLion, you must receive your paycheck via direct deposit and link your bank account.
If you open a MoneyLion RoarMoney Account, you may be eligible for cash advances as high as $1,000. Most transfers take a few business days, but you can pay a small Turbo Fee for instant access.
How to Qualify:
- You’ve held an active checking account for 60 days
- You will get regular direct deposits from your employer
- Your account has been positive
Pros:
- Delivers easy access to cash advances between paydays
- The robust app presents many personal finance features
- Proposes the option to get much higher cash advances with a MoneyLion bank account
Cons:
- You must have a MoneyLion bank account for higher cash advances
- Cash advances take a longer time than most apps
10. DailyPay
DailyPay provides access to 100% of earned income, in contrast to the Dave app. For someone who requires more than $500 to solve the issue and is in a serious emergency, this can be an excellent alternative.
By allowing workers to access their money as soon as they are earned rather than having to wait until payday, DailyPay offers what they refer to as “earned wage access.” DailyPay is only accessible if your company provides it, just with Payactiv.
Employees using DailyPay can receive their earnings as early as the first day. till a fee, you can request funds instantaneously to any account or card, or you can wait till the following business day to receive them.
DailyPay integrates with your company’s timekeeping system, so they understand how much you’ve worked and earned.
After each shift, the DailyPay app informs you about your earnings and what’s available for early transfer. You can also transfer funds 24/7 and send them wherever you need the funds.
Pros:
- You have access to 100% of earned funds less taxes and liabilities
- You can also set up automatic savings
- The app tells you how much you’ve made and can access 24/7
Cons:
- It can be a bad habit to access earned funds early
- Only eligible if your employer presents DailyPay
- Their customer service is tough to reach
11. Brigit
Similar to Dave, Brigit is an app that provides personal finance tools to help you stay on track, along with cash advances (Instant Cash). Although the initial restrictions are usually smaller until you demonstrate that you repay your advances on time, subscribers can access up to $250.
Most borrowers pay back their advances on their subsequent paychecks, but you can ask for an extension if necessary.
Usually, deposits take a few business days, but you can expedite the process by paying a modest fee. Nevertheless, access to Brigit’s “Instant Cash” option is $9.99 per month, in contrast to the Dave app.
How to Qualify:
- Hold an active checking account for the last two months
- Show that you have at least three consistent direct deposits from your employer
- Your checking account must carry a positive balance
Pros:
- No interest or charges on cash advances
- Can set up automated advances to avoid overdrafts
- It works well with over 6,000 banks
Cons:
- The monthly charge is high
- An external bank account is needed to get cash advances
12. One@Work
Formerly known as Even, One@Work is another app that gives you early access to your earned income. With Instapay, qualified workers can get up to 50% of their earned revenue ahead of time.
One@Work presents early access to your earned income by partnering with the biggest firms in the nation. Then, you choose how much you require from the app’s display of your earned income, and you pay back the amount deducted on your subsequent payday.
Pros:
- Offers fast access to earned funds
- It doesn’t charge interest or fees
- It works well with thousands of employers and banks
Cons:
- Accessing funds early can cause bad spending habits
- It only works if your employer registers for it
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Frequently Asked Questions
Finding apps like Dave for small cash advances could assist you get through tough times. But finding other methods to manage your finances is always a good idea, so you don’t need cash advance apps.
How Do You Apply for Apps Like Dave that Provide Funds?
To apply for apps like Dave, you’ll have to answer questions about your identity and link your external bank account.
Cash advance apps must ensure you make cash regularly and will be able to repay the advance on your next payday, so any negative balances or new bank accounts may disqualify you.
What Is the Biggest Cash Advance You Can Make with Apps Like Dave?
Most cash advance apps limit cash advances to around $200, but some permit advances of $500 to $1,000, though not instantly. Most apps need you to prove your ability to repay smaller advances before enabling anything larger.
How Quickly Do You Get an Advance Using Apps Like Dave?
If you want your cash advance returned to you at no cost, the transfer may take several working days. But, if you’re in a pinch, you can typically obtain the money in a matter of minutes by paying a minimal fee ($5 or less) for an expedited transfer.
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