If you need a quick and easy loan, cash advance apps are the way to go. Apps like Dave can be very useful when you're in a pinch and need some extra cash. However, Dave is not the only cash advance app out there. There are plenty of other great options available.
Each app comes with a unique set of features and benefits and may be better suited for your specific needs. Be sure to carefully compare each app before choosing one. To help you get started, we've compiled a list of 10 great cash advance apps like Dave so you can pick the right one for you.
What is Dave?
Dave is a financial app that offers cash advances to its users. It is one of the most popular cash advance apps with over 1 million downloads on the Google Play Store. From budgeting to tracking your spending, Dave can help you stay on top of your finances.
You can also use Dave to get a cash advance of up to $250. And the best part about Dave is that there are no hidden fees.
To get a cash advance, you'll need a bank account with a direct deposit set up and at least two past direct deposits completed. Dave will examine your spending and revenue patterns to determine how much money you can borrow. This amount varies from person to person, but it's typically between $75 and $250.
Now when it comes to repayment, you can repay the lending amount on your next payday or in four installments, whichever is sooner.
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Features of Dave
Let's take a look at some of the features of this cash advance app!
1. No fees: Unlike other cash advance apps, Dave doesn't charge any fees, there are no overdraft fees, no minimum balance fees, and no ATM fees.
2. Budgeting features: Dave comes with budgeting features that can help you track your spending and save money. It's also easy to understand so you can make informed financial decisions.
3. Get your cash advance in minutes: Dave offers a fast and convenient way to get your cash advance. Once you're approved, the money will be deposited into your account within minutes.
4. Side hustle opportunities: Dave also provides side hustle opportunities so you can make some extra money.
5. Excellent customer support: Dave has excellent customer support that is always ready to help you with any issues you may have.
Pros and cons of Dave
Now that we've looked at its features of Dave, let's take a look at its pros and cons.
- No interest or fees
- No credit check
- Access to automatic budgeting and side job opportunities
- Monthly membership payments
- Dave may recoup advances automatically after the repayment due date
- There is a limit of $250
How much would you like?
Best Apps Similar To Dave
So now that we've looked at Dave, let's take a look at some of the best apps similar to Dave. These apps are some of the best in the market and offer a variety of features that can help you get a cash advance.
Each app comes with its own set of features, requirements, and repayment terms. So make sure to read through each one carefully before you decide which app is right for you.
For those searching for an all-in-one digital account, Albert is ideal. It has very small fees and early access to your paychecks, and its cash advance option makes it a strong contender for anyone seeking flexibility when it comes to accessing their money.
You can lend up to $250 with Albert within one day and the repayment terms are very straightforward. Similar to Dave, there is no interest and late fee. You don't have to go through a credit check to be eligible, but you will have to provide your bank account information and have a source of regular income.
Earnin is a mobile app that allows you to withdraw small portions of your earnings before payday. Rather than earning interest, Earnin requests a voluntary tip from users. Similar solutions are available from firms such as Dave and Brigit.
For some people, Earnin's Cash-Out pay advance is an option in an emergency, but it should not be done regularly. You're essentially paying someone else to access your money when you include the gratuity.
The MoneyLion app, which is available for Android and iOS devices, allows consumers to borrow a portion of their projected income and repay it in about two weeks. The banking app's goal is to assist people who are financially strapped in managing their money during periods of up and down, according to Chief Product Officer Tim Hong.
MoneyLion advances have little to no fees, but like other apps that provide cash loans, Instacash requires customers to pay tips. One of the downsides of this app is that it might take up to 5 days to receive the funds.
Chime is known as one of the most popular and reliable banking apps. They offer a feature called SpotMe which allows you to overdraft your account up to $200 without any fees. You will need to be enrolled in direct deposit to qualify for this feature.
There are no interest or fees charged for using SpotMe. However, you will need to have a source of regular income to be eligible and your account must be in good standing. It takes only two days to receive the funds once you're approved.
Brigit is another instant loan app available on both iOS and Android that can help you receive cash advance funds when you need them. Brigit will review your account and offer an interest-free cash advance up to $250 if they determine you're eligible.
Repayment terms are very flexible with Brigit, you can choose to repay your advance in full or make partial payments. However, there is a monthly membership fee of $9.99 for using the app. One plus point is you will have access to a free budgeting tool to help you stay on track.
6. Axos Bank
If you need a cash advance and have good credit, Axos Bank could be a good option for you. They offer an interest-free cash advance up to $1,000 as long as you repay the amount within 30 days.
Axos Bank is one of the most reputed cash advance apps, but there are some drawbacks.
The Empower Cash Advance allows you to get up to $250 in cash as an advance on your paycheck, which you must repay by the end of the following payday. If you are using an Empower debit card, you can also get good cash back rewards every time you purchase something.
You may earn up to 10% back with participating retailers if you add an Empower Card to your account. And you can borrow up to $250 with no fees.
Similar to other cash advance apps in this list, Even will give you an advance on your paycheck. You can get up to $250 in cash, which must be repaid by the end of the following payday. And the best part, you don't have to pay any interest or fees for this cash advance.
Even is more than just a cash advance app. It also offers budgeting tools to help you stay on track and avoid overdrafts. You can get started with Even by providing your bank account information and having a source of regular income. This app also has an average of 4.9 out of 5 stars from customer reviews on the Apple App Store and Google Play.
With no interest charge and hidden fees, FloatMe is one of the fastest cash advance apps available. But the only downside is that you can only borrow up to $50, which is relatively low if you compare it to other apps in this list. It only takes a few minutes to get approved for a loan and you can receive the funds in your account within 24 hours.
You do have to pay a membership fee of $1.99 to use the app, but that's a small price to pay for the convenience it offers.
DailyPay is one of the few apps that will advance you on 100% of your earnings in a pay period. This makes it a good option for someone who needs more money than what is offered by other cash advance companies. Third-party investing apps like Brigit, Dave, and others only provide 50% of your earnings.
The only condition for using Dailypay is that you must work for a firm that offers the service. You don't even need a Social Security Number or SSN to open an account. If your employer doesn't yet provide Dailypay, you should contact human resources to request signup.
Online Alternatives For Cash Advance Apps
If you are not comfortable using mobile apps, here are a few online alternatives that you can consider (these platforms are not direct lenders, they connect lenders with borrowers):
As the name suggests, this website is designed for people with bad credit. You can borrow up to $10,000 and the repayment terms are very flexible. The lending process is extremely easy to set up. You'll have access to some of the best lenders in the industry and you won't even have to pay for their services.
Next up we have a website called PersonalLoans, which offers payday loans up to $500. The great thing about this website is that it doesn't require a hard credit check. You can get your loan in as little as 24 hours, which is pretty fast. The lending process is also very straightforward, all you have to do is fill out a short form and you'll be matched with a lender in minutes.
CashAdvance is one of the most reputed and trusted payday loan websites. It offers loans up to $200. The best part is that you can get your loan in as little as 24 hours. Every cash loan request is secured with high-grade 256-bit secure encryption so you don't have to worry about the safety of your personal information.
And last but not least, we have USBadCreditLoans. As the name suggests, this website is designed for people with bad credit. You can borrow up to $5,000 and the requirements are not very stringent. USBadCreditLoans has a very user-friendly interface and the lending process is extremely easy to set up. If you have a bad credit score, you can still get a loan through this website.