With the growing use of technology, it has become easier to manage our finances. Nowadays, you can use an advanced cash app like Dave to instantly borrow money. A cash advance is a short-term loan offered by a bank or an alternative lender.
Today, you have many cash advance apps like dave. Most of the best cash advance apps for Android & iOS provide you with similar functionality as Dave, often with better features in terms of cash availability.
So, if you search for the best apps like Dave for a cash advance, you have landed on the right page. Below, we have shared some of the best free cash advance smartphone apps. Let’s get started.
How do Cash Advance Apps work?
Cash Advance is very similar to Buy Now Pay Later apps. On Buy Now Pay Later, you purchase a product and pay for it later. However, on Cash advance, you borrow a sum for use during emergencies and pay it back later.
For example, you can borrow $100 a few days before your payday from the Cash Advance apps during emergencies. Once borrowed, the cash advance app will then deduct the sum directly from your paycheck once it arrives a few days later.
You might think of Cash Advance as Personal Loans, but they are different. On Cash Advance, you’re using your own money; hence the apps don’t charge you interest. Cash Advance apps usually charge monthly fees between $1-$10 to use their services.
So, cash advance features in these apps are free to use, but you need to pay monthly fees that range between $1 to $10 per month.
10 Best Cash Advance Apps
Now that you know what Cash Advance is, you may be willing to know the apps that offer such features. Here are some of the best apps, like dave, to get Cash advances easily.
Chime is a financial technology company, not a bank. It provides banking services through The Bancorp Bank or Stride Bank, N.A.; Members FDIC. Millions of users now use the app, which lets you stay in control of your money with the instant transaction and daily balance alerts.
Chime differs from Dave as it doesn’t offer cash advance facilities. However, eligible users can claim up to 200#$ via SpotMe, a feature allowing overdraw accounts up to 200$.
However, the SpotMe amount depends on the user’s repayment history. Besides that, Chime also allows users to send money to friends, and family members, with zero transfer fees.
Varo is one of the best cash advance apps you can use on your phone. Like the Dave app, Varo also offers similar cash advance services, but the eligibility requirements are quite high.
First, a user needs to have an active account that has been active for at least 30 days. Second, within 30 days, you should make a transaction of at least $1,000. Also, there’s a requirement for an active Varo debit card linked to Varo bank to get the cash advance facilities.
If your account qualifies, you can borrow up to $100 to cover your unexpected expenses. Varo cards also provide amazing cashback offers on selected brands.
If you are looking for the best cash advance app to avoid expensive overdraft fees, then Brigit could be your best pick. Both Dave and Brigit share lots of similarities.
The service offers you $250 of paycheck advances and doesn’t charge interest on the loan itself. However, the problem is that you must pay a monthly membership fee of $9.99.
By paying the membership fees, you also avail of other features like free account monitoring services that include tools to analyze your earnings and spending habits. Brigit automatically deposits cash into your account when it’s low.
Earnin isn’t as popular as Dave, but it’s still one of the best cash advance apps you can have on your Android smartphone. The service allows you to access up to $100/day or $500/paycheck.
The good thing about Earnin is that it’s a completely free service; you can only pay a tip that you think is fair for its service. Besides the cash advance and paycheck, Earnin also offers other services like the Notification service that notifies you when the account balance dips below a certain threshold.
Also, a cash-out feature can instantly deposit up to $100 in your bank account to avoid overdraft fees. Overall, Earnin is a great cash advance app like Dave.
MoneyLion is a personal finance, mobile banking, cash advances, and investing app for smartphones. It’s available for Android and iOS and facilitates two different services – RoarMoney and Instacash.
The RoarMoney pays you two days early and lets you earn up to $500 every day just by shaking your smartphone with Shake N Bank. The Instacash provides you with up to $250 in cash advances.
However, like Brigit, MoneyLion also follows strict rules in picking subscribers. The requirements to satisfy the eligibility are quite high. Users also need to open a checking account at MoneyLion to get pay advances.
6. Branch- Personal Finance Loans
If you are searching for an app that can provide the simplest and most secure way to borrow, save, and improve your financial health from the convenience of your phone, then Branch- Personal Finance Loans could be the best pick.
Like every other app on the list, Branch- Personal Finance Loans provides you with a cash advance of up to $150 per day, or you can take $500 off your paycheck. However, Branch has strict requirements for its cash advance facilities.
First, you need a salary account with two salaries from the same employer. Second, you must have a checking account and a debit card at the supported bank. Third, Branch doesn’t offer its services to remote workers.
Even app provides you with the tools you need to manage your money. Like every other app on the list, Even lets you get paid early. However, to use it, employers need to have an open account with Even for the employees.
Once the open account is created, employees can borrow up to 50% of their unpaid wages for a given pay period. There are no transaction fees, but you need to pay the membership fee of $8 per month.
Another best thing about the Even app is its InstaPay feature that works with more than 18,000 banks to deposit cash to your bank account within one business day.
Empower is another best app like Dave that offers features like Instant Cash Advance. With Empower, you can get a cash advance of up to $250 when you need it the most.
The good thing about Empower is that it doesn’t have credit checks and charges late fees. All you need to purchase is a monthly membership plan that costs around $8.
Empower also has a feature known as Early Paycheck Deposit that allows users to get access to their paycheck up to 2 days early. Overall, Empower is a great Dave alternative that you can use today.
SoFi is a one-stop app for managing your finances. This one is designed to help you get your money right, save, spend, earn, borrow, and invest.
This one is slightly different from most other apps in the article. It offers cash advance services through the SoFi credit card. And since it’s the bank, the credit limit is quite high.
With SoFi, you can avail of a minimum cash advance of $40, and the maximum cash advance limit for the day is up to $1,000. However, you need to have a SoFi credit card to use its services.
10. Axos Bank
Axos Bank is probably the best early paycheck app that comes very close to Dave regarding features. It’s basically a full-fledged digital banking service that offers checking and saving accounts.
With Axos Bank, you get many investment options, loans, personal finance management tools, and more. To get your money up to two days early, you need to use the Direct Deposit Express feature, which lets you access the money early if the paycheck is deposited in your bank account by your employer.
Axos Bank also specializes in other banking-related features such as depositing checks, paying bills on schedule, transferring funds, etc.
All the apps listed in the article are available for Android and iOS, and you can download & install them from the respective app stores. So, these are some of the best apps like Dave to get cash advances easily and instantly. If you want to suggest similar apps like Dave, let us know in the comments below.