15+ Cash Advance Apps Like Moneylion in 2024
People stretched on money often have to borrow money in between the months, and if it is to a relative or friend, it not only lowers your self-esteem but can also embarrass you for sometimes asking for as small an amount as $20. And here come cash advance apps like MoneyLion, which save you without making you feel any stigma because you do it overtly on your phone, but it is covert from the world. As per a report, over 60% of Americans are living paycheck to paycheck, and as inflation soars, they run out of money before their next paycheck and have to lend to make ends meet or make an urgent or suddenly sprung transaction. Amidst the deluge of apps like MoneyLion in the app stores, it becomes cumbersome to try out each one of them and trust them with your credentials. But worry not; we have listed the top cash advance apps you can borrow money from. So, without further ado, let’s dive into the blog by first understanding what exactly cash advance apps are and how they work. What Exactly Are Cash Advance Apps? Cash advance apps are like these phone apps that let you borrow some money, usually not more than $1,000, without having to go to a bank or fill out a bunch of forms. You just link the app with your bank account or debit card, and if approved, the money goes straight into your account. You pay them back with interest and fees once you get your paycheck. 15+ Cash Advance Apps Like MoneyLion Earnin Earnin Advance is a feature offered by the Earnin app that allows users to get up to $100 of their paycheck in advance. This feature is here to help users avoid overdraft fees or the need for payday loans. To be eligible for Earnin Advance, users must have a job with a consistent paycheck, a checking account with direct deposit, and a regular payday schedule. The amount available in advance is based on the user’s pay rate and work schedule. For example, if a user is paid biweekly, they may be eligible for up to $50 per pay period. The maximum amount available in advance is $100. There are no fees or interest charges for using Earnin Advance, but users can choose to tip the service to support its development. Tips are entirely voluntary, and users have the option to tip any amount they choose. Chime Chime is a digital finance company that offers banking features, including a checking account, a credit-building account, and a high-yielding savings account. Though Chime does not offer cash advances, it offers overdraft protection via its SpotMe program. It gives you up to $200 to spend, and Chime does not ask for any overdraft fees. SpotMe® is free for Chime account users, and new users receive overdraft protection starting at $20; however, the limit increases to $200 once you start making timely repayments. There is an eligibility criterion, i.e., you have to have a qualifying direct deposit of at least $200 in your account every month. Vola Vola gives cash advances of up to $300, and in most cases, you receive money within a span of 5 hours. The thing that makes it stand out is that, unlike other apps, you do not need typical direct deposits to be eligible for a cash advance. The top pros are the quick turnaround time and comparatively easy criteria to qualify for the loan, but it requires buying a monthly plan to be eligible for it. There is another thing, and that is the Vola score. As your scores increase, you qualify for lower subscription fees. Branch It comes with amazing features but involves your employer, meaning it assists employers in helping their employees with certain monetary needs. It does not work on fixed limits; rather, it offers a review system that reviews the hours you have worked, and you get the money accordingly. If you successfully qualify, you will get up to 50% of the next paycheck that you are going to get. Also, you can get the option to pay a minimum to get the money instantly. Varo You can borrow anywhere between $20 and $250 with $20 advances that are free and paid back within four weeks. Usually, the range is between $0 and $15, which is determined based on the amount. The time to repay is longer than for many other apps. To unlock a larger amount, you have to build trust by repaying smaller advances. Varo’s website is transparent about everything that may concern you and offers a live chat option. You are required to have a Varo bank account, so the money is related to you in your account instantly, and there is no risk of an overdraft if you don’t have money in your account for repayment. Before you start, it demands that you have at least $800 in direct deposits for the current month or last to qualify for the next advance cash. Klover It’s quite easy to get up to $100. Until the day you get your paycheck, all you need to do is earn points in the app by completing different tasks and answering questions. So, if you are in trouble and don’t want fees and interest and need money immediately, Klover might be an app that is missing on your phone. Whether it is one of the apps for image recognition or an app that has a unique idea that you think will quickly take off, you can hire an Android or iOS mobile company that offers bespoke app development services. Dave One of the features of the app is the ability to get a cash advance on your paycheck. To use the cash advance feature, you need to set up direct deposit with your employer so that your paycheck is deposited into your Dave account. Once your paycheck has been deposited, you can request a cash advance of up to $100, which
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