What Cash Advance Apps Work With PayPal?
If you are wondering, what cash advance apps work with PayPal? The cash advance apps that work with PayPal are not far-fetched.
This question often arises since PayPal is the more recommended payment channel for gig workers and freelancers. Sit back and find the best cash advance apps that are compatible with PayPal to get loans.
As one of the requirements to access high loan amounts from cash advance apps, you need proof of payment, and this is where your PayPal account comes in.
At this point, it serves as a payment channel to get money from cash advance apps and be able to transfer and solve financial challenges.
So let’s find out what cash advance apps work with PayPal.
What Cash Advance Apps Work With PayPal?
Two major cash advance apps currently work with PayPal. Your ability to identify these cash advance apps compatible with PayPal makes your online transactions much easier.
We will list out these apps to help you make efficient withdrawals through loan apps through Paypal.
1. Dave
Dave gives you small loans to settle your bills before your paycheck. Unlike most apps, Dave is directly linked to PayPal, which usually makes it possible to receive money without going through the bank transfer system.
This can be of great help when you have an unexpected bill to pay without a normal fee plus high rates of interest.
2. Chime
Even though Chime is not a financially oriented app, it provides a useful tool named SpotMe.
The addition of PayPal as a link to your Chime account allows SpotMe to advance small amounts in case you have an emergency instantly.
The no-interest fees on SpotMe accounts make them a perfect substitute for PayPal credit lines.
Nevertheless, you are required to maintain qualifying deposits to avoid possible fees.
While these are the only 2 apps that directly or closely accept PayPal, others either decline PayPal accounts totally or are not as close as Dave and Chime.
They prefer linking directly to your bank accounts; therefore, you have to link your accounts, including Earnin, MoneyLion, and Brigit.
Why Did Other Apps Reject PayPal?
There are clear reasons why those other cash advance apps don’t accept PayPal.
For some, it is as a result of PayPal’s transfer fees, which some apps reject, or because they don’t want to link with PayPal’s system.
Another problem is security concerns between some of these cash advance apps and PayPal.
Some apps prefer not to adopt it because they feel PayPal poses a serious security threat to your financial well-being.
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4 Considerations to Make Before You Borrow
Most gig workers fail to check forth and back when seeking financial assistance from cash advance apps.
However, they need to make adequate considerations to avoid being reported for defaults or serving further consequences.
1. Limited Partnership With PayPal
Remember that working directly with PayPal for cash advances is currently limited.
The apps mentioned above are alternatives, but it’s important to understand how they function and their integration capabilities before signing up.
2. Focus on Integration
If directly connecting your PayPal account to a cash advance app is that important, ensure the app clearly states such integration before creating an account.
Don’t hesitate to explore the app’s website or contact customer support for clarification.
3. Review Fees Carefully
Cash advance apps often have hidden costs. These can include monthly fees or additional charges for instant transfers.
Always read the terms and conditions thoroughly to understand the full cost of borrowing before you commit.
Don’t get caught off guard by unexpected fees that could further strain your finances.
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4. Explore Alternatives
Consider other options before resorting to cash advance apps.
Credit unions might offer small personal loans with lower interest rates and more flexible repayment terms.
You could also explore negotiating with creditors for a temporary payment extension if you’re facing a short-term cash crunch.
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