10 Cash Advance Apps and Payday Advance Apps To Make Ends Meet

Cash apps and payday loans are all financial resources available when you need to make ends meet. Technology has made it easier than ever to borrow money quickly, though every service is a little different. 

Cash advance apps allow you to deposit money you earned at work into your account early. These are often free or charge a small fee. Payday loan apps, or payday advance apps, provide a short-term loan with a high interest rate based on your income. 

When you need cash to make it to payday, either of these services can be a huge help. Apps with expensive fees or interest rates can also make it hard to bounce back if you’re not prepared. Below is a list of cash advance and payday advance apps and their key features so you can make the right financial decision.

10 Payday Loan Apps:

• Possible
• Branch 
• Brigit
• Kora
• CashNetUSA
• Chime
• Dave
• Earnin
• Empower
• MoneyLion

1. Possible Finance

Possible Finance offers a payday loan alternative that’s actually still a loan, fully licensed and regulated. You can borrow up to $500 without a credit check. Because it’s an installment loan, you repay the loan in multiple payments over several pay periods, allowing you to pay back in manageable chunks and catch your breath in between.

Possible reports all payments to major credit bureaus so borrowers build credit history. Users can also reschedule payments in-app — up to 29 days later without damaging their credit. Additionally, Possible offers a fee recoup program to refund recent bank fees.

Key features:

• Loans available for up to $500 without a credit check
• Installment loans make repayment easy and payments can be rescheduled up to 29 days later
• Payments are reported to major credit bureaus to build credit history
• Fee recoup program gets user’s bank fees refunded

Best for:

• Building credit
• Flexible borrowing with repayment plans and rescheduling options

Requirements:

• Must reside in one of 10 participating states (OH, ID, WA, TX, FL, LA, CA, IA, MI or AL)
• Driver’s license or state-issued ID
• Bank account supported by the app
• Three months of transaction history
• Positive bank account balance

Fees:

• Fees vary by state and are divided equally among your repayments

2. Branch Payday Loan

Branch is a finance app that has wage advances, budgeting, and a checking account built in. You can get paid up to $100 early and get your paycheck two days earlier than normal, as long as your direct deposit goes to your Branch checking account. 

There are no fees to use this feature, however, there’s a $3.99 transaction fee to access funds immediately. Otherwise, you’ll need to wait up to three business days to get the funds. Branch also allows cash advances up to $500 with employer-paid membership. 

Key features:

• Advance $100 before payday and get paid two days early
• Advance up to $500 with membership costs
• Fee-free checking account and budgeting features

Best for:

• Large cash advances
• Individuals whose employers partner with Branch

Requirements:

• Two months of consecutive direct deposits to a supported bank
• A debit card with a supported bank
• Proof of spending history that Branch considers reasonable for your budget

Fees:

• $3.99 instant transfer fee to access advances immediately

3. Brigit Payday Loan

Brigit is a very clean app with an easy interface that can make it simpler to get the cash you need. One of Brigit’s big benefits is that there is no credit check or interest involved. If you have a poor credit score but still need to have access to money, using an app like Brigit is a great solution. 

Brigit also offers an instant funding feature, free repayment extensions, and an automated paycheck advance for around $10 a month. The app includes budgeting features and a partnership program that can help you earn money. 

Key features:

• Interest-free advance up to $250 without a credit check
• Budget and overdraft monitoring and payment extensions help you manage your cash

Best for: 

• Borrowers with a poor credit score

Requirements:

• Sufficient bank account activity (monitored over a few weeks)
• An account balance greater than $0
• At least three recurring deposits from the same employer
• Minimum average end-of-day balance the day of and after payday

Fees:

• $9.99/month membership fee

4. Kora Cash Advance (Formerly Boro)

Kora is a cash app for college students that offers a variety of money management tools. Users can borrow up to $2,000 for personal or school needs without hidden fees or memberships. Borrowers can choose a repayment plan with a set APR based on their financial situation. 

In addition to its lending options, Kora allows users to track their spending, monitor their credit, and even compare their money habits with other local students.

Key features:

• Student-focused finance monitoring and advice
• No-fee lending with set monthly payments based on your loan and APR
• In-app credit monitoring 
• Helps build credit

Best for:

• University and college students

Requirements:

• Must be 18 or older
• Must reside in one of 21 participating states (AZ, AR, CA, FL, IL, IA, MD, MI, MN, MO, NE, NJ, NY, NC, OH, PA, SC, TN, UT, WA, and WI.)
• Current enrollment in a college or university (Proven through a .edu email address.)
• Valid identity with social security number
• Must provide electronic bank statements

Fees:

• APR interest

5. CashNetUSA

CashNetUSA offers payday loans, installment loans and lines of credit through its mobile app. Most of the functionality is similar to what is available online or through a store except somewhat trimmed down. You can get loans for thousands of dollars, apply for a line of credit, request an extension, make payments and more. 

Note that as with most payday lenders, interest rates will be high and can run in the hundreds of percentage points. However, unlike other apps, there’s no tips or membership fees, and the interest and fees are shown very clearly and meet regulations.

Key features:

• Get payday loans, large installment loans and a line of credit even with a poor credit score
• Apply for a loan, request extensions and pay off loans directly within the app

Best for:

• Large loan amounts and users prepared to pay high interest rates
• Borrowers with a poor credit score

Requirements:

• Must reside in one of 26 participating states (AL, AK, CA, DE, FL, HI, ID, KS, LA, ME, MI, MN, MS, MO, NV, NM, ND, OH, OK, OR, RI, SC, TN, UT, WI, or WY)
• Verified and stable source of income
• Active checking account
• U.S. citizen or permanent resident

Fees:

• High interest rates — APR varies

6. Chime

Chime is an online bank with a variety of features users love, including the option to open new checking or high-yield savings accounts in-app. Chime also offers a SpotMe feature, which protects users from overdrafts up to $200 at no cost. 

Users can also receive access to their paycheck two days before payday. Chime boasts their fee-free banking options, including no overdraft fees, no monthly fees and no minimum balance requirements. 

Key features:

• Overdraft protection up to $200 with the SpotMe feature
• Members can access their paycheck two days before payday
• Fee-free banking

Best for:

• Users who want to get paid two days early

Requirements:

• Chime membership is required for early paycheck access
• Account must receive a qualifying direct deposit of $200 of more a month

Fees:

• No additional fees for two-day payday advances
• No fees for SpotMe (Though they do suggest a tip.)

7. Dave Cash Advance

Dave’s mission is to offer affordable cash advances so members can avoid costly overdraft fees. Membership starts at $1 a month and provides a cash advance within three business days, though additional fees and membership options can get you paid within a few hours. Cash advance limits start at $100 and go as high as $200. 

Dave has some awesome features outside of just payday advances, including the ability to report your rent payments to credit bureaus to build your credit score.

However, its long delivery times and small initial withdrawal limit can be inefficient. 

Key features:

• Budgeting and rent reporting features to boost your credit
• Membership starts at just $1 a month
• Basic cash advance takes three business days to process
• Low withdrawal limits start at $100 and cap at $200

Best for:

• Users who want frequent small advances
• Effective bank monitoring and overdraft prevention

Requirements:

• Steady paycheck with direct deposit
• Proof of additional discretionary income each month

Fees:

• Membership starting at $1/month to access all account features
• Optional percentage tips on app features

8. Earnin Payday Loan

Earnin is a payday advance app that lets you access your money the same day you request it. Your first few withdrawals will be limited to $100, but you can withdraw up to $500 per paycheck once you’re established.

Earnin has no membership or access fees — users have the option to tip the app whatever amount they see fit for its services. 

In addition to cash advances, the app has a Health Aid feature, which negotiates medical bills with your medical provider. Earnin also has shopping partners within the app that give you additional cash back, and Balance Shield, which gives you notifications when you’re at risk of overdrafting.

Key features:

• Advance up to $100 per day and up to $500 per paycheck, interest-free
• Keep track of upcoming expenses and prevent overdrafts
• Reduce your medical bills by having the app negotiate them
• Get up to 10% cash back for shopping at popular stores

Best for:

• Users who need frequent small advances
• Navigating medical debt and expenses

Requirements:

• Over 50% of your direct deposit sent to your checking account
• A regular pay schedule
• A fixed work location with adequate timekeeping

Fees:

• $0-$14 optional tipping feature

9. Empower Cash Advance

The Empower app provides cash advances up to $250 two days prior to payday. Empower gives users a dedicated debit card that includes free access to 37,000 ATMs. Cash advances are provided automatically with no hidden fees or interest rates. 

Cash advance withdrawal totals are offered based on the user’s personal finances and history with Empower. New users who earn at least $500 a month can get a $25 cash advance, and improved finances and regular cash advances raise the total to $250. 

Key features:

• Automatic savings deposits and daily account monitoring
• Up to $250 interest- and fee-free two-day cash advances
• Smart recommendations based on your spending and bank habits

Best for:

• Users who want regular small withdrawals
• Tracking savings goals

Requirements:

• Average monthly take home higher than $500
• Two deposits of at least $100 in the last two months
• A balance of over $100 for at least 10 days within the last 30 days

Fees:

• $8/month membership fee after 14 days

10. MoneyLion Mobile Banking

MoneyLion is an all-in-one mobile banking membership that offers several services, including cash advances, credit builder loans, checking accounts, managed investing, personal loans and credit score tracking. 

Core products include a checking account without fees and interest-free cash advances. There are no fees for cash advances, though MoneyLion does accept and track tips. MoneyLion also offers a membership for $19.99 a month that unlocks access to a 5.99% APR credit-building loan and other advanced features.

Key features:

• Up to $250 cash advance on your paycheck and a credit-building loan up to $1000
• Get a checking account with no fees, managed investing, credit score tracking and more
• Cash back shopping at major retailers

Best for:

• An all-in-one banking and cash advance service

Requirements:

• Established checking account at least two months old
• Regular income deposits
• Checking account shows a consistent positive balance

Fees:

• Fee-free cash advance with optional tipping
• $19.99/month membership for advanced features like credit-building loans

What Apps Let You Borrow Money?

Many banks, credit unions and cash advance apps give you access to borrow money when you need it. Cash advance apps will have bank account and employment requirements, and may limit what you can withdraw as an early user. Withdrawals typically take a few days to process, though you can usually get money instantly for a fee.

Your bank or credit union may also allow you to apply for a loan or cash advance in-app. Ask your banking institution what mobile borrowing services they offer. 

How To Get a Payday Advance

Payday advance services are available online, through apps and at brick-and-mortar lenders. You’ll have to submit financial documents including income verification, bank statements and potentially access to your checking account. 

Payday advance lenders will want to know you have adequate regular income to repay the loan, a positive bank balance and healthy spending habits. Once you provide your personal and financial documents, the payday lender will determine what services are available to you and go over repayment options, fees and interest rates associated with their services. 

How Do Check Advances Work?

A check advance is a small short-term unsecured loan usually repaid on the borrower’s next payday. Check advance loan, payday loan, cash advance and short-term loan are common terms that reference the same product.

A lender looks at your proof of income, usually a pay stub, along with your state identification to determine whether they will lend to you. The amount borrowed is due on your next payday, or for certain payday loan products or alternatives, can be due as far as three months out. Lenders also charge a percentage fee based on your loan amount and state regulations — typically $15 for every $100 borrowed. 

When To Use Cash Advance Apps

Cash advance apps give you access to your paycheck early if you have bills or other important expenses to cover. They’re helpful when you’re in a tight spot and can prevent overdrafts and other banking fees. 

Cash advances are most beneficial when a borrower has healthy spending habits, typically covers their expenses with extra money left over and can confidently repay the withdrawal and any fees or interest rates. 

It’s not wise to regularly rely on cash advances if you can help it. Some payday and cash advance services are relatively low-cost, while others have APRs as high as 700%. It can be difficult to repay and recover from recurring costly fees. If you feel you rely on cash advances, consider having a money conversation with a financial professional to find alternatives and improve your financial situation. 

Costs of Using a Cash Advance App

Cash advance apps typically charge users transaction fees, membership costs or interest rates on the money borrowed. While some cost is common, free and low-cost options are becoming more widely available.

Transaction fees may be a set rate or offered as an optional “tip” to the service. Monthly membership fees start at $1 and go as high as $19.99. Interest rates are common for traditional payday loans or installment loans, and can go as high as 700% APR. 

What If You Can’t Repay a Cash Advance App?

Failure to pay a payday advance app back may result in being banned from the app and its services. However, the payday advance app will continue trying to withdraw money from your bank account, which could cause overdraft fees to stack up. Be sure you can repay your payday loan and disconnect your bank account from the app when you no longer use its services. 

At Possible, we believe that paying back our loans is much easier for our customers than traditional payday lenders. Along with lower APR than many other lenders, we offer our customers the ability to extend their payments up to 29 days without any knock to their credit.

Cash advance apps, payday loan apps, and payday advance apps all provide options to help you make it to payday. Understand your lending limits and the interest rates or fees associated with your payday advance to be sure you can repay your loan and make healthy money decisions.

Sources: Pew Trust