10 Best Apps like Dave to Get Cash Advances Easily
Aug. 25, 2021Dave is one of the most popular apps for paycheck advances and budgeting assistance, but it’s hardly the only one. Several apps also offer similar functionality, often with slightly different features and terms. In this article, we tell you about some of the best cash advance apps that are great alternatives to Dave. Most provide small payday cash advances like Dave, but some also offer personal loans if your cash requirements are more substantial.
What are Cash Advance Apps? How Do They Work?
Also known as Payday (or Paycheck) Advance Apps, Cash Advance apps offer users the option to get paid early for the work they have already done. They typically allow you toborrow $100 – $200 from your next paycheckfor use during emergencies. For example, you can use the app to borrow $100 a few days before your payday. The app will deduct it directly from your upcoming paycheck once it arrives.
Some apps also offer personal loans but note that payday advances are not loans per se. That’s because you are accessing your own hard-earned money. Even though your employer has yet to transfer it to your bank account. Since you are using your own money, these apps don’t charge any interest. However, typically theyhave a membership fee between $1-$10 per monthto use their services.
Dave is one of the leaders in the segment. Itcharges $1 per month for small cash advances of up to $100 per pay cycle. It also offers a host of other features, including overdraft warnings and budgeting tools. Dave is considered the industry leader with the best rates and the most dedicated (and growing) user base. But it is far from the only cash advance service in the segment. So, here are the best apps like Dave you can use to borrow cash right now:
Note:The apps listed below largely offer their services in the USA. A few, like Branch, may be present in other markets, but their services and rates may differ significantly. Do your research before signing up. If you are in India and looking to receive money from relatives in the US, check out how you cantransfer money from the US to India using Google Pay.
The apps we mention in this article are all available on the iOS App Store or Google Play Store. Make sure to look at various options and carefully compare them before using any of the apps on this list. That said, check out the best cash advance apps like Dave that you could use to borrow money for emergencies.
Brigit is one of the best and most popular apps like Dave where you can borrow money, offering small paycheck advances of up to $250. It doesn’t charge interest on the loan itself, but you will have to pay a hefty monthly membership of $9.99. It is significantly more than the paltry $1 charge you pay for Dave, but it does offer free account monitoring services. That will include budgeting tools to helpanalyze your earnings and spending habits.
Brigit works with more than 15,000 US banks and financial institutions. Including Bank of America, Wells Fargo, TD Bank, Chase, and more. It deposits cash automatically into your account when your balance is low and in danger of dipping below zero, thus, helping prevent overdraft fees.
Brigit also offers early repayment options, as well as due date extensions. The app uses 256-bit encryption and says it does not share or sell your personal information with third parties.ProsConspaycheck advances up to $250expensive monthly membership chargefree account monitoringaccess to budgeting toolshelps prevent overdraft charges
Originally known as ActivHours, Earnin is a great alternative to Dave for folks who do not want to pay a recurring membership fee. Instead, the app requires you to pay a tip that you think is fair for the service. The app offers paycheck advances of up to $100 per day that you have already earned, up to a maximum of $500 per period.
Earnin also offers helpful features like Balance Shield Alerts that notify you when your account balance dips below a certain threshold. There’s the Cash Out feature thatautomatically deposits up to $100 in your bank accountto avoid overdraft fees.
For all its positives, there are a few downsides to Earnin as well. To be eligible to receive paycheck advances, you must have a regular pay schedule (weekly, bi-weekly, semi-monthly, or monthly). Your employer must also have an actual physical work location or use time-tracking software to make you eligible. Additionally, you must also send at least half of your paycheck to your checking account via direct deposit.ProsConspaycheck advances of up to $100 per daymust have a regular pay schedulesupports tipping instead of feesemployer needs to have a physical workspaceaccount balance alerts
MoneyLion is an all-in-one mobile banking app that offers users an easy way to borrow, save, invest, and earn. Like Dave, it offers easy cash advances and early paycheck access with its ‘Instacash’ feature. It lets youborrow up to $250of your next paycheck with no interest and no credit check. The company claims to transfer the money to your account instantly, irrespective of the time of day. Its RoarMoney feature also gives you access to your paycheck up to two days early.
The best part about MoneyLion is that it has no minimum balance requirement. The app doesn’t charge you any fees for standard transfers, foreign transactions, mobile check deposits, or card replacement.
Yet another popular app like Dave, Empower offers interest-free cash advances of up to $250. The money can be sent to your Empower checking account for free or to a bank account for a fee of $3. The Empower app does not charge late fees, and there are no credit checks. However, it does havea membership charge of $8 per monthafter a free 14-day trial period. What’s more, you have to make regular direct deposits to your Empower Checking Account to be eligible for cash advances.
Other notable functions include an Early Paycheck Deposit feature that allows users to get access to their paycheck up to two days faster. It also offers a10% cashbackoffer on eligible purchases at hundreds of restaurants, grocery stores, and gas stations.
Alongside the cash advance and related features, the Empower app also functions as a budgeting app, helping you limit your spending based on your income. It also suggests an overall spending limit for each category and sends you alerts when your spending is about to go over the limit. You also receive monthly reports showing your expenditure in each category.ProsConsinterest-free cash advance up to $250membership charge of $8 per monthget paycheck up to two days earlyoffers budgeting featuresno credit checks
Varo ismore than a cash advance service as it is a complete banking solution. This sets it apart from other apps in this list as it allows you to instantly borrow money for unknown situations. It charges you a one-time advanced fee, the amount of which depends on the money that you have borrowed. It can range from $1.40 to $40 and you canapply for a $250 to $500 advance paycheckthrough the app.
Though there are a few catches. The first one is thatyou are required to have a Varo Bank account. Though it does not charge any additional maintenance or overdraft fees. The other caveat is that it requires that you have at least $800 in direct deposits this month or last to be eligible for advance cash. Also, you won’t be able to claim the $500 paycheck. Instead, you can initially get $250 and the amount increases after establishing a history of on-time payments.
With Varo, you also have alonger repayment window of up to 30 days. This is more than most apps in this list. Plus you get benefits of Varo’s other banking services like a high-interest bank account, free debit card, and a tip-less app.ProsConsInstant fund transfer of the requested advanceRequires you to open a bank account with VaroNo monthly maintenance or over-draft chargesCash advance services require deposits of $800One-time fixed charges that vary on the amountCan take a while to build trust to unlock the $500 advance paycheck optionLarge repayment window of up to 30 days
One of the best cash advance apps like Dave, Branch, also offers personal loans in most countries it operates in. In the US, it offers a cash advance of up to $150 per day or up to $500 of your paycheck. It offers no-fee checking, a debit card, andfree ATM access at more than 40,000 locationsacross the US. You can also receive money, transfer funds, and pay bills through the Branch app. It charges $2.99 to $4.99 for instant advances to your debit card, while standard advances to your bank account are free of charge and take up to three business days.
The branch app does offer helpful features but has stringent requirements for its cash advance facility. Firstly, you need to have received a salary for two consecutive months from the same employer. You should deposit it into a checking account at a supported bank and have a debit card for that account as well. Unfortunately, the app does not offer its services to remote workers. That means if your employer does not have a physical workplace, you will likely not be eligible to use the app.
Alongside the US, the Branch also offers its services in several other countries, including India, Kenya, Nigeria, and more. In most of these markets, the appoffers personal loans at interest rates up to a whopping 360%. Depending on your loan amount, you have the option to choose repayment terms ranging from 60 days to 336 days. In India, the app offers free monthly CIBIL scores and personalized tips, helping you monitor your credit and stay on top of your finances.ProsConscash advance up to $150 per daystringent requirements for cash advancefree monthly CIBIL scores (India-specific)interest rates as high as 360% in some marketsstandard transfers are free of charge
Albert is not just an advance cash app, instead you can consider ita personal finance assistantwrapped in a single app. It does it all, budgeting, and tracking your spending habits, and helps you kickstart your investment journey with as little as $1. Moreover, it also finds saving opportunities for you between all your monthly expenses.
Coming to the topic of cash advances, lets youborrow up to $250 per pay period. You can choose to take it all out at once or borrow it in smaller amounts three times in a pay period. However, to get this advance, you need to set up an Albert Cash account and sign up for direct deposit.
But the biggest trick Albert has up its sleeve is itsAI-powered financial advicetool called Genius. It unlocks a bunch of features to further help you save money along and make the right investment decisions based on your goals and risk tolerance. It leverages a team of financial experts to help you with your money and offer personalized advice. However, it is a paid feature that will cost you about $14.99/month.ProsConsTools to help you save and investRequires setting up an Albert Cash accountDoes not charge any late feesGenius service is chargeable at $14.99/monthOffers $240 in advance paychecksCustomer support is limitedGenius tools that offers personalized advice
If all you are looking for is a small amount to withdraw between your paychecks then FloatMe is among the apps like Dave that can help. This applets you borrow up to $50 in advancewhich gets deducted by your next paycheck. Yes, the amount is less than the other services mentioned in this list, but it also does not do any background or credit checks as well. Plus you can get the money in as fast as 30 minutes within your account depending on your bank account.
There are no major catches or hidden fees with this app. You will becharged a monthly membership of $1.99which is more than Dave’s, but FloatMe does not charge any late fees penalties. It will also alert you if your account is low on cash, saving you that hefty overdraft fees. Also, the app can deduct a partial amount if you don’t have funds to repay the whole amount.
Another thing to note is that initially, you have access to $10 to $30, but you can build up to $50 later on. While it is not a perfect alternative to Dave, it can be a great option for rainy days. Plus with some other advance paycheck apps, you might end up borrowing more than you need. So this is better for those times when you need to withdraw only what you need.
Next on our list of the best cash advance apps like Dave is DailyPay. This app helps you access your salary before your next payday. Like Even, it offers Earned Wage Access and needs to be supported by your employer. Like other apps in this sector, DailyPay lets you transfer your yet-to-be-paid earnings instantly to your debit card, bank account, prepaid card, or paycard.
DailyPay puts the money into the bank, and the amount already cashed out is then taken from the paycheck on payday. However, itcharges a fee of $2.99to use the service.
DailyPay uses 256-bit level encryption, and its payment network and customer support channels are PCI-compliant and SOC II-audited. It is one of the most well-respected names in the business, having had an ‘honorable mention’ on Fast Company’s ‘World Changing Ideas’ list this year. Some of the leading companies that offer employees early access to salaries via DailyPay are Burger King, Uber, Doordash, and ShiftGig, among others.ProsConstransfer yet-to-be-paid earnings instantlyneeds to be supported by employer256-bit level encryptionlow $2.99 monthly fee
Folks who have PayActive at work will see ‘hours worked’ and their current earnings in the app. They can also transfer the accessible amount to their bank, or card, or get cash. Funds accessed using the app will then be deducted from their next paycheck. Like most apps in this category, Payactiv uses time and attendance data to provide earned wage access to employees. Some notable PayActive partners include Subway, Uber, Hilton, Pizza Hut, Walmart, Murphy USA, NYC Taxi, and more.
Many financial assistance apps like Dave offer small cash advances and personal loans to help you get a few extra bucks in cases of emergencies. Some of the apps in this list also offer various other tools, including access to financial instruments, banking, investment, stock trading, and more.
While we have tried our best to ensure correct, up-to-date information for all apps on this list, our article is meant for general informational purposes only. It is, in no way, a substitute for professional advice. So, do make sure to do thorough research before handing over your financial info to the services listed above.
With 6 years of experience as a writer and editor in the tech media industry, Anmol is an enigmatic savant in all kinds of tech. He loves to scour internet for new information. When not conjuring words, Anmol can be found watching Manchester United matches or glued to his MacBook watching re-runs of his favorite TV shows for upteenth time.
