The Dave app is a popular personal finance app that allows users to take small cash advances when they are short on funds. It is free to use, offers a variety of budgeting tools, and helps users avoid overdraft fees.
However, there are other apps like Dave that allow you to access short-term loans to help you reach your next payday. Some offer additional tools that help you manage your money and improve your spending habits.
Choosing a loan app that lets you borrow money instantly is not always easy. Each platform offers its own unique set of tools to help you stay on top of your finances. Some may even charge a fee or low interest rate to access funds.
Each app on our list is available in the Google Play or Apple App Stores. Additionally, every platform will send you funds to help you pay for expenses until your next paycheck.
Here are the best cash advance apps like Dave.
Empower is one of the more unique Dave app alternatives. Formerly known as Personal Capital, it is an app that users can download to manage their finances.
This is one of the best apps to get a holistic view of your money. You can use it to sync your financial accounts, from your checking account to brokerage account to your mortgage.
The app is a fantastic tool for monitoring your net worth and is free of charge.
Another helpful feature of Empower is the ability to get access to money from your paycheck two days early.
No credit check is required, but the company considers your earned income and account activity when deciding how much you can borrow.
It’s important to note that one of the eligibility requirements to receive money is having an Empower card. There is an $8 monthly membership fee to use the card, but no late fees are associated with it.
Furthermore, the card does have other helpful features, such as free ATM withdrawals and cash back rewards. The cash advance limit with Empower is $250.
Pros:
Cons:
Read our Empower review to learn more.
Albert is another one of the most helpful alternatives to Dave. The platform is a banking and financial services app that allows you to monitor your budget.
Like other money apps on our list, Albert lets you access money from your paycheck up to two days early. No credit check is required to receive an interest-free cash advance.
However, you must have an active checking account for at least 60 days and be able to show that you have received a direct deposit in that account to qualify.
You must also have a steady job for at least 60 days and prove you have funds in your account 24 hours after you receive your paycheck. Depending on your banking history, you can receive up to $250 from your paycheck.
There is no fee to receive money, but there is a $6.99 fee if you request an instant transfer. Furthermore, Albert offers a paid tier called Genius.
Genius subscribers get access to a debit card and live expert help with their finances. The debit card has helpful features like fee-free ATM withdrawals and rebates on purchases.
There is an $8 monthly fee to be a Genius member.
Pros:
Cons:
If you don’t mind paying to use budgeting apps, Albert is one of the better alternatives to the Dave app.
EarnIn Is one of the top apps like Dave if you need to get money instantly. Other money-borrowing apps typically offer cash advances of no more than $250, but EarnIn allows you to receive up to $500 per pay period.
To qualify for EarnIn, you must download the app and connect a bank account. Upon downloading, you must verify your employment and income. You must also have a direct deposit from your employer to be eligible to use the app.
Once you qualify, you can request up to $100 per day and no more than $500 per pay period. No credit check is necessary, and the app does not require a minimum credit score.
When you need money, you request cash via the EarnIn app. After approval, the funds will be sent to your connected checking account.
Like Albert, it will take one or two business days to receive the money. Alternately, you can pay a minor fee to receive funds instantly.
There is no transaction fee to use EarnIn, and they don’t charge interest on the funds you receive. However, they ask for an optional tip when you use the service.
Additionally, they offer supplemental features like Balance Shield. This feature allows you to create a notification for when your checking account reaches a specified minimum balance.
If you reach that balance, EarnIn will notify you and let you know how large of a cash advance you can take. This feature can help you avoid overdraft fees, but it does come at a minor cost.
Pros:
Cons:
If you need access to instant cash and have bad credit, EarnIn is worth considering. Read our guide on the best apps like Earnin to learn more.
MoneyLion is one of the more robust cash advance apps like EarnIn and Dave. It offers a wealth of tools that help you stay on top of your budget and get control of your finances through credit builder and bill pay features.
Similar to other apps on our list, you must receive your paycheck via direct deposit and connect your bank account to their platform. The account needs to be active for at least 60 days, and you must receive regular direct deposits from your employer.
Additionally, your bank account should not go negative if you want to qualify. Like some other platforms, initial cash advances typically can’t exceed $25.
As you develop a good history with the company, you can increase your borrowing up to $250.
There are no fees to request a cash advance, but there is a minor cost if you need funds instantly. To access some of its more advanced features, you must use its banking feature called Roar.
Roar unlocks premium offerings, such as allowing you to borrow up to a $1,000 limit. A Roar account does have some minor fees and reasonable interest rates on any borrowed funds.
Pros:
Cons:
If you need a more well-rounded paycheck advance app and often need to request cash, MoneyLion could be worth considering.
Varo operates similarly to Chime, but they charge a small fee based on the amount of funds you request.
The bank offers paycheck advances through a program called Varo Advance. This program allows you to receive instant cash of up to $250. If you are trying to dodge overdraft fees, this can be a helpful resource to make ends meet.
If you need a quick turnaround time to avoid a penalty, this is particularly helpful. Unfortunately, they limit you to a $20 cash advance on your first request.
This advance is free of charge. However, follow-up requests will have a small fee between $4 and $15.
You need a Varo checking account and debit card to utilize the service. Varo will deposit your cash advance into your account with them. The bank also requires you to receive at least $1,000 in direct deposits over the last month to qualify.
When you receive your paycheck, they will automatically deduct the amount you owe directly from your Varo checking account.
Pros:
Cons:
If you’re looking for a new bank that also offers cash advance options, Varo is worth considering.
Brigit is one of the top money apps like Dave if you need access to a broad range of personal finance tools.
Similar to other platforms on our list, you can request a cash advance of up to $250 per instance. However, they require you to start with a lower amount in the beginning.
To qualify to use the app, you must have an active checking account and receive at least three regularly scheduled direct deposits from your employer. You also need a positive balance in your checking account.
Like other apps, repayment is required when you receive your next paycheck. However, Brigit does allow for a repayment extension if you have a good history. This may cause an overdraft fee with your bank, depending on your balance, so it is best to request these sparingly.
Unfortunately, Brigit does charge a $9.99 monthly fee to use its service.
Given its different tools, you may find the app to be worth the cost. However, there are other free budgeting tools you can use to help you get on top of your finances.
If you don’t need those features from money-borrowing apps, it’s best to consider free offerings to manage your budget.
Pros:
Cons:
If you need a complete cash app and don’t mind paying a fee, Brigit is worth considering.
Chime is a helpful personal finance app that allows users to gain early access to the funds in their paycheck. The financial technology company allows you to do this through their SpotMe Feature.
Chime does not consider this a cash advance, rather it’s a line of credit that you can use via your Chime debit card. Most people can only request a modest amount when they first begin.
In most cases you can only start with a $20 advance. You can work up to a $200 availability If you have a good history. Chime will take care of any overdrafts you incur and that amount reduces your available funds.
Whatever amount you use Chime will deduct from your next paycheck.
You must have at least $200 in direct deposits over the last 30 days and have a debit card from Chime to qualify to receive a cash advance.
Pros:
Cons:
Read our Chime review to learn more.
Dave is a cash advance app with a wide variety of tools that let you improve your finances. While other apps on our list limit you to an advance of $250, it’s possible to receive up to $500 through Dave.
Like other platforms, you must meet certain eligibility requirements to request a cash advance through the Dave app. These include:
If you’re able to meet each of the requirements, it may help you receive an advance of a higher amount. Not meeting them all will not necessarily keep you from receiving an advance.
The Dave app also looks at other things, like the amount of each direct deposit and your financial standing. Additionally, the platform does not perform a credit check before issuing you an advance.
There is a minimal $1 fee to use the Dave app. Beyond the ability to get early access to earnings, it includes other features like a spending account with a debit card and connecting you with side hustles in your area. You pay that charge monthly even if you don’t use the platform.
Furthermore, any funds you receive are sent via direct deposit to your external bank account. The platform will remove the funds automatically from your bank account on your next payday.
There’s a lot to consider when you need to take a cash advance from your paycheck. Here are some common questions we receive from readers about using apps like Dave.
Cash advance apps allow you to request that money you have already earned be deposited into a bank account before payday. When your next paycheck arrives, the company will automatically subtract the amount you borrowed from your deposit.
Most apps work on both Android and Apple (iOS) phones. After you download the app, you create an account and provide information so they can verify your identity. This includes things like your Social Security number, date of birth, contact information, and employer.
Once you receive approval, you connect your external bank account to the app. This allows you to receive money once you request it.
Cash advance apps aren’t perfect, but they are a fantastic alternative to payday loans. Dave and similar companies typically charge little to no interest and are superior to using payday loan apps.
Whenever you consider using a financial platform, it is essential to perform your due diligence to ensure it meets your needs.
Here are some things to consider when comparing paycheck advance apps:
No app is perfect, but you want to find one that will work for you. Otherwise, you might not solve your larger problem.
It is possible to receive a cash advance within several business days. Each app works differently, but it’s reasonable to expect to receive your funds in no more than three business days.
Some platforms will let you request funds instantly, but that typically requires a nominal fee.
It is easy to think that payday loans are similar to paycheck advance apps, but that is not the case. Payday lenders often charge exorbitant interest rates, late fees, and other penalties that drown you in debt.
Cash advance apps do not directly result in debt and have far lower fees. It is best to think of them as short-term installment loans that are being taken against your earnings.
However, frequently using apps like Dave does reveal a larger problem. It shows a need to better manage your finances and improve your cash flow. There is no problem using one when you are in a bind, but these loans should never be something you rely on regularly.
If that is your situation, it’s best to find ways to save money each month to bring your spending under control.
Paycheck advance apps are typically safe, and you can use any reputable one with confidence. It is important to make sure they use sites like Plaid to connect to your bank account.
You also want to verify they utilize bank-level security. Since you will be providing personal information, it’s best to research the platform, understand its terms, and read any available reviews to ensure it’s safe.
Apps like Dave can be helpful when you are in a bind and don’t know if you have enough funds to reach your next payday. They can provide a quick turnaround to ensure you can make ends meet.
However, it’s best not to use them as a crutch to manage your budget. If you need to use them regularly, it’s time to look at your finances and identify where you can cut back in order to improve your financial well-being.
What do you consider when choosing a paycheck advance app?
The post 7 Best Apps Like Dave to Get a Cash Advance appeared first on Frugal Rules.
However, there are other apps like Dave that allow you to access short-term loans to help you reach your next payday. Some offer additional tools that help you manage your money and improve your spending habits.
What Are the Best Cash Advance Apps Like Dave?
Choosing a loan app that lets you borrow money instantly is not always easy. Each platform offers its own unique set of tools to help you stay on top of your finances. Some may even charge a fee or low interest rate to access funds.
Each app on our list is available in the Google Play or Apple App Stores. Additionally, every platform will send you funds to help you pay for expenses until your next paycheck.
Here are the best cash advance apps like Dave.
1. Empower
Empower is one of the more unique Dave app alternatives. Formerly known as Personal Capital, it is an app that users can download to manage their finances.
This is one of the best apps to get a holistic view of your money. You can use it to sync your financial accounts, from your checking account to brokerage account to your mortgage.
The app is a fantastic tool for monitoring your net worth and is free of charge.
Another helpful feature of Empower is the ability to get access to money from your paycheck two days early.
No credit check is required, but the company considers your earned income and account activity when deciding how much you can borrow.
It’s important to note that one of the eligibility requirements to receive money is having an Empower card. There is an $8 monthly membership fee to use the card, but no late fees are associated with it.
Furthermore, the card does have other helpful features, such as free ATM withdrawals and cash back rewards. The cash advance limit with Empower is $250.
Pros:
- There is no interest or fees charged
- You can receive money up to two days before your paycheck
- It’s possible to receive up to $250
Cons:
- Account activity and earnings dictate the amount you can receive
- Monthly subscription fee of $8
Read our Empower review to learn more.
2. Albert
Albert is another one of the most helpful alternatives to Dave. The platform is a banking and financial services app that allows you to monitor your budget.
Like other money apps on our list, Albert lets you access money from your paycheck up to two days early. No credit check is required to receive an interest-free cash advance.
However, you must have an active checking account for at least 60 days and be able to show that you have received a direct deposit in that account to qualify.
You must also have a steady job for at least 60 days and prove you have funds in your account 24 hours after you receive your paycheck. Depending on your banking history, you can receive up to $250 from your paycheck.
There is no fee to receive money, but there is a $6.99 fee if you request an instant transfer. Furthermore, Albert offers a paid tier called Genius.
Genius subscribers get access to a debit card and live expert help with their finances. The debit card has helpful features like fee-free ATM withdrawals and rebates on purchases.
There is an $8 monthly fee to be a Genius member.
Pros:
- You can receive up to $250
- There are no required monthly fees
- Early access to paychecks received via direct deposit
Cons:
- You must pay the monthly membership fee to access many of its features
- Interest rates on the savings accounts are low
If you don’t mind paying to use budgeting apps, Albert is one of the better alternatives to the Dave app.
3. EarnIn
EarnIn Is one of the top apps like Dave if you need to get money instantly. Other money-borrowing apps typically offer cash advances of no more than $250, but EarnIn allows you to receive up to $500 per pay period.
To qualify for EarnIn, you must download the app and connect a bank account. Upon downloading, you must verify your employment and income. You must also have a direct deposit from your employer to be eligible to use the app.
Once you qualify, you can request up to $100 per day and no more than $500 per pay period. No credit check is necessary, and the app does not require a minimum credit score.
When you need money, you request cash via the EarnIn app. After approval, the funds will be sent to your connected checking account.
Like Albert, it will take one or two business days to receive the money. Alternately, you can pay a minor fee to receive funds instantly.
There is no transaction fee to use EarnIn, and they don’t charge interest on the funds you receive. However, they ask for an optional tip when you use the service.
Additionally, they offer supplemental features like Balance Shield. This feature allows you to create a notification for when your checking account reaches a specified minimum balance.
If you reach that balance, EarnIn will notify you and let you know how large of a cash advance you can take. This feature can help you avoid overdraft fees, but it does come at a minor cost.
Pros:
- No credit check is required
- You can access more than other loan apps like Dave
- Helps you avoid needing to use overdraft protection at your bank
Cons:
- Easy access to more paycheck advances isn’t always a good thing
- EarnIn must be able to access your checking account
If you need access to instant cash and have bad credit, EarnIn is worth considering. Read our guide on the best apps like Earnin to learn more.
4. MoneyLion
MoneyLion is one of the more robust cash advance apps like EarnIn and Dave. It offers a wealth of tools that help you stay on top of your budget and get control of your finances through credit builder and bill pay features.
Similar to other apps on our list, you must receive your paycheck via direct deposit and connect your bank account to their platform. The account needs to be active for at least 60 days, and you must receive regular direct deposits from your employer.
Additionally, your bank account should not go negative if you want to qualify. Like some other platforms, initial cash advances typically can’t exceed $25.
As you develop a good history with the company, you can increase your borrowing up to $250.
There are no fees to request a cash advance, but there is a minor cost if you need funds instantly. To access some of its more advanced features, you must use its banking feature called Roar.
Roar unlocks premium offerings, such as allowing you to borrow up to a $1,000 limit. A Roar account does have some minor fees and reasonable interest rates on any borrowed funds.
Pros:
- Numerous helpful tools to manage your finances
- Ability to receive more than $250
- Credit builder loans
Cons:
- You must have a Roar account to request a higher cash advance amount
- Fees are possible if you use the Roar account
If you need a more well-rounded paycheck advance app and often need to request cash, MoneyLion could be worth considering.
5. Varo
Varo operates similarly to Chime, but they charge a small fee based on the amount of funds you request.
The bank offers paycheck advances through a program called Varo Advance. This program allows you to receive instant cash of up to $250. If you are trying to dodge overdraft fees, this can be a helpful resource to make ends meet.
If you need a quick turnaround time to avoid a penalty, this is particularly helpful. Unfortunately, they limit you to a $20 cash advance on your first request.
This advance is free of charge. However, follow-up requests will have a small fee between $4 and $15.
You need a Varo checking account and debit card to utilize the service. Varo will deposit your cash advance into your account with them. The bank also requires you to receive at least $1,000 in direct deposits over the last month to qualify.
When you receive your paycheck, they will automatically deduct the amount you owe directly from your Varo checking account.
Pros:
- No fee on cash advances of $20 or less
- Varo is a bank with a full suite of features
- No minimum credit score requirement
Cons:
- High fees in relation to other apps like Dave
- Cash advance limit is low
If you’re looking for a new bank that also offers cash advance options, Varo is worth considering.
6. Brigit
Brigit is one of the top money apps like Dave if you need access to a broad range of personal finance tools.
Similar to other platforms on our list, you can request a cash advance of up to $250 per instance. However, they require you to start with a lower amount in the beginning.
To qualify to use the app, you must have an active checking account and receive at least three regularly scheduled direct deposits from your employer. You also need a positive balance in your checking account.
Like other apps, repayment is required when you receive your next paycheck. However, Brigit does allow for a repayment extension if you have a good history. This may cause an overdraft fee with your bank, depending on your balance, so it is best to request these sparingly.
Unfortunately, Brigit does charge a $9.99 monthly fee to use its service.
Given its different tools, you may find the app to be worth the cost. However, there are other free budgeting tools you can use to help you get on top of your finances.
If you don’t need those features from money-borrowing apps, it’s best to consider free offerings to manage your budget.
Pros:
- No interest on your cash advances
- It’s possible to create automatic advances
- The platform works with over 5,000 banks
Cons:
- Expensive monthly membership fee
- Initial advance is low
If you need a complete cash app and don’t mind paying a fee, Brigit is worth considering.
7. Chime
Chime is a helpful personal finance app that allows users to gain early access to the funds in their paycheck. The financial technology company allows you to do this through their SpotMe Feature.
Chime does not consider this a cash advance, rather it’s a line of credit that you can use via your Chime debit card. Most people can only request a modest amount when they first begin.
In most cases you can only start with a $20 advance. You can work up to a $200 availability If you have a good history. Chime will take care of any overdrafts you incur and that amount reduces your available funds.
Whatever amount you use Chime will deduct from your next paycheck.
You must have at least $200 in direct deposits over the last 30 days and have a debit card from Chime to qualify to receive a cash advance.
Pros:
- There are no fees to use the service
- It’s possible to receive up to $200 cash
- You get early access to your paycheck
Cons:
- You must have a Chime debit card to qualify
- The initial cash advance limit is $20
Read our Chime review to learn more.
What is the Dave App, and Why is it So Popular?
Dave is a cash advance app with a wide variety of tools that let you improve your finances. While other apps on our list limit you to an advance of $250, it’s possible to receive up to $500 through Dave.
Like other platforms, you must meet certain eligibility requirements to request a cash advance through the Dave app. These include:
- Having a checking account in good standing that is at least 60 days old
- The checking account must have a positive balance when you request an advance
- You must have direct deposit enabled through your employer and receive recurring deposits from them before requesting an advance
If you’re able to meet each of the requirements, it may help you receive an advance of a higher amount. Not meeting them all will not necessarily keep you from receiving an advance.
The Dave app also looks at other things, like the amount of each direct deposit and your financial standing. Additionally, the platform does not perform a credit check before issuing you an advance.
There is a minimal $1 fee to use the Dave app. Beyond the ability to get early access to earnings, it includes other features like a spending account with a debit card and connecting you with side hustles in your area. You pay that charge monthly even if you don’t use the platform.
Furthermore, any funds you receive are sent via direct deposit to your external bank account. The platform will remove the funds automatically from your bank account on your next payday.
FAQs About Loan Apps Like Dave
There’s a lot to consider when you need to take a cash advance from your paycheck. Here are some common questions we receive from readers about using apps like Dave.
How Do Cash Advance Apps Work?
Cash advance apps allow you to request that money you have already earned be deposited into a bank account before payday. When your next paycheck arrives, the company will automatically subtract the amount you borrowed from your deposit.
Most apps work on both Android and Apple (iOS) phones. After you download the app, you create an account and provide information so they can verify your identity. This includes things like your Social Security number, date of birth, contact information, and employer.
Once you receive approval, you connect your external bank account to the app. This allows you to receive money once you request it.
Cash advance apps aren’t perfect, but they are a fantastic alternative to payday loans. Dave and similar companies typically charge little to no interest and are superior to using payday loan apps.
What Should I Look Out For With Dave App Alternatives?
Whenever you consider using a financial platform, it is essential to perform your due diligence to ensure it meets your needs.
Here are some things to consider when comparing paycheck advance apps:
- How quickly you can receive the funds
- Possible loan amounts
- Fees
- Other tools the app offers
- Eligibility requirements
No app is perfect, but you want to find one that will work for you. Otherwise, you might not solve your larger problem.
How Quickly Can I Get a Cash Advance?
It is possible to receive a cash advance within several business days. Each app works differently, but it’s reasonable to expect to receive your funds in no more than three business days.
Some platforms will let you request funds instantly, but that typically requires a nominal fee.
How Are Payday Loans Different From Cash Advance Apps?
It is easy to think that payday loans are similar to paycheck advance apps, but that is not the case. Payday lenders often charge exorbitant interest rates, late fees, and other penalties that drown you in debt.
Cash advance apps do not directly result in debt and have far lower fees. It is best to think of them as short-term installment loans that are being taken against your earnings.
However, frequently using apps like Dave does reveal a larger problem. It shows a need to better manage your finances and improve your cash flow. There is no problem using one when you are in a bind, but these loans should never be something you rely on regularly.
If that is your situation, it’s best to find ways to save money each month to bring your spending under control.
Are Cash Advance Apps Safe?
Paycheck advance apps are typically safe, and you can use any reputable one with confidence. It is important to make sure they use sites like Plaid to connect to your bank account.
You also want to verify they utilize bank-level security. Since you will be providing personal information, it’s best to research the platform, understand its terms, and read any available reviews to ensure it’s safe.
Bottom Line
Apps like Dave can be helpful when you are in a bind and don’t know if you have enough funds to reach your next payday. They can provide a quick turnaround to ensure you can make ends meet.
However, it’s best not to use them as a crutch to manage your budget. If you need to use them regularly, it’s time to look at your finances and identify where you can cut back in order to improve your financial well-being.
What do you consider when choosing a paycheck advance app?
The post 7 Best Apps Like Dave to Get a Cash Advance appeared first on Frugal Rules.