A smartphone program called Dave assists users in budgeting and keeps overdraft fees at bay. To stop overdrafts, it establishes a connection with customers’ bank accounts and delivers real-time alerts.
In addition, users can take advantage of automatic savings, budgeting tools, and credit-building features, as well as cash advances of up to $100.
Dave App is well-liked by millennials looking for cutting-edge banking options; users must pay a monthly subscription to use its premium features.
Although several other apps can help with budgeting and paycheck advances, Dave is one of the most well-known. Numerous apps provide same services, frequently with marginally different features and terminology. We discuss some of the top cash advance applications in this post, which are excellent substitutes.
Top Apps Similar to Dave for Cash Advances
Once verification is complete, you can link your bank accounts to the app. After that, the app will monitor the frequency and activity of deposits made to your account. The application uses certain scans to gather information, which is used to calculate how much the user can request.
In contrast to instalment loans, payday loans, and occasionally even bank paycheck advances, cash advance apps almost never impose fees for individual loans. All they require to use their service is a monthly subscription.
1. Earnin
One of the financial and cash advance apps with the greatest growth is Earnin (previously known as ActivHours). Earnin is great if you’re not a fan of paying recurrent membership fees. It’s essentially a “tip” for the service rather than an ongoing membership charge. You determine the appropriate price to pay for the service.
You may read my in-depth Earnin app review to find out more about Earning’s many other awesome features.
2. Empower
Empower gives you a lot of options for managing your funds, so it really does live up to its name.
Get started with Empower Advance by downloading the app and creating an account to receive up to $250 instantly. Since there is no requirement for a security deposit or credit check, you receive the money quickly.
When you’re prepared, you can increase to Empower Thrive, which lets you increase the amount available on your credit limit by up to $1,000.
You have the option of depositing money into your external checking account or your Empower Card, which has no overdraft penalties.
3. Varo
Because Varo has no credit checks, no monthly or overdraft fees, and no minimum balance requirements, it’s a fantastic online bank.
With your Varo credit or debit card, you can also send and receive money for free, as well as earn cashback benefits, to and from other Varo accounts.
Want rapid money? Please feel free to ask for $20 to $100 to cover a food item or payment.
4. Moneylion
A crucial app among the sophisticated ones for managing funds is Moneylion. Plus and core are the two different membership tiers available.
Although the basic membership is inexpensive, it comes with a number of benefits, such as several free checking accounts and several other possibilities for the customer.
For $28 a month, users can upgrade to a plus membership, which offers a number of advantages. 5.99% of the APR designs are provided in order to build the user’s credit. Additionally, since the platform does not require a credit check, users with bad credit can still use the app.
5. FlexWage
It assists the workers in getting access to their paychecks in accordance with their demands, just like the other payday loan options. This software offers quick online cash advances.
One of the reasons these cash lending applications are becoming more well-known is that people don’t have to worry about the administrative headaches that come with the usual paycheck advances.
For employees who typically receive payroll debit cards based on clicks, this software also offers reloadable cards. Employees who do not have a bank account and are unable to accept direct deposits from their employers may find it useful.
While there are some fees, such as $5 for on-demand wage transfers and the use of a debit card, these are not as expensive as several further applications.
6. Ingo
Compared to other apps like branch that are available on the market, the Ingo app is far more useful. Since most check cashing locations charge fees, most consumers prefer not to pay them. The Ingo app allows you to take a picture of the check and deposit the amount whenever it’s convenient for you. Deposits can be made using PayPal, a prepaid card, your bank account, etc.
Should you be able to wait ten days, the deposit is free. If you want the money right away, there will be a cost. The fees range from $5 to 5% of the total amount. The type and amount of the check you are cashing will determine how much you get.
7. Albert
Another well-known cash advance app, Albert, offers cash advances of up to $250. Like Dave, you can receive up to three cash advances per pay period, with a maximum amount of $250. They also don’t charge interest or fees.
Similar to most apps, Albert’s cash advance program starts small and increases your limit as you build up a solid repayment history. On your subsequent payday, you will pay back the borrowed money; but, if circumstances warrant an extension, an arrangement might be worked out.
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 will be able to retrieve your earnings as soon as your employer uses 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.
9. 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.
10. Axos
Axos Bank is a full-service digital banking provider with high-yield checking and savings accounts, in contrast to some of the other applications on this list. You also receive loans, personal finance management, and investment choices. Axos features a function called Direct Deposit Express, although it does not provide a true cash advance option per se. When your employer deposits your paycheck into your bank, it allows you to access your money up to two days early.
Additionally, users can receive up to 1% cashback on all transactions done with signature-based purchases through Axos’ “CashBack Checking” feature. As part of its financial services portfolio, Axos additionally enables you to deposit checks, transfer monies, and make on-time bill payments. It also provides risk-adjusted investing suggestions and patience.
11. Chime
Chime is an additional app that provides users with Earned Wage Access. It provides you access to your salary two days ahead of the regular payment date and functions similarly to Even and DailyPay. It doesn’t provide you a cash advance the way Dave does. There are no minimum balance requirements, monthly maintenance fees, or fees for overseas transactions when using Chime.
You may send money to friends, relatives, or roommates using the Chime app without having to pay any transfer fees. With Moneypass and Visa Plus Alliance, it provides consumers with access to more than 38,000 ATMs nationwide. Nevertheless, when appropriate, you must pay out-of-network ATM withdrawal costs.
12. Loan Solo
Additionally, users can connect with lenders who are eager to cooperate with them through this app. The money can be obtained promptly, and there won’t be any further costs or complications because it will be credited straight to the bank account.
For payday cash advances, the customer may have up to $1,000, and for personal loans, they may have up to $3,000. These are the factors determined by the lender and your credit history. Furthermore, if you advance or close the gap, it may end up being less expensive than paying additional fees related to the apps.
