10 cash advance apps that can help when you need money fast

10 cash advance apps to borrow against your next paycheck

There are many cash advance apps to choose from, so make sure to compare your options before choosing which one to utilize. Consider the app’s fees, cash advance maximum, any interest charged, and other perks the service may feature—like overdraft protection or early access to your full paycheck.

We looked at the loan amount, time to pay out, fast-funding fees, any other subscription fees, and the app rating to determine the best cash advance apps available today:

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Current

Great for: an advance on your paycheck.

About

With 4 million members, Current’s team of 200 employees helps customers save money, get their paychecks early, invest their income, and build credit with everyday purchases. It’s headquartered in New York City.

Maximum advance limit:	$500
Time to fund:	Instant
Subscription fees:	None

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at Current

Pros and Cons

Pros

• You’re not required to have a Current bank account
• Your limit can increase over time
• No credit checks

Cons

• Instant deposits can take up to an hour
• Some users complain of poor customer service
• Not available in Connecticut, Maryland, or Nevada

Fees & APR

You may choose to tip when you request a paycheck advance, although this is entirely optional. There is a fee for requesting instant access, although the rate varies by the amount of the advance.

Repayment terms

Unless you manually repay your advance early, the repayment is deducted from your next paycheck automatically.

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at Current

Why we like it

A paycheck advance through Current only requires a minimum payroll deposit of $500, whereas most apps require at least $800. Your advance can be deposited instantly for a fee, otherwise standard timing takes up to three business days.

Varo

Great for: those who need flexibility in repayment terms.

About

With more than 3 million customers, Varo is an online-only bank offering products like high-yield savings accounts, lines of credit, credit-building cards, standard bank accounts, and cash advances.

Maximum advance limit:	$500
Time to fund:	Immediate
Subscription fees:	None

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at Fiona

Pros and Cons

Pros

• Repay your advance anywhere from 15 to 30 days after funding
• Only requires $800 in combined direct deposits per month to qualify
• Can split repayment into many payments as long as it’s paid in full within 30 days

Cons

• Must be a Varo banking customer
• Your first advance is only up to $250
• You may only be able to borrow $20

Fees & APR

Varo charges no interest, nor do they ask for any tips. Instead, you pay a flat fee of 8% of the amount borrowed. For example, if you borrow the maximum of $500, you owe $40. Meanwhile, if you borrow $300, you only pay $24.

Repayment terms

You have up to 30 days to repay your cash advance.

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at Fiona

Why we like it

When getting a cash advance, most apps require you to repay your advance on your next payday. However, Varo lets you choose anywhere from 15 to 30 days from the date you receive your advance. Plus, you can split this amount into as many payments as needed, provided you pay it back within 30 days.

Like most cash advance apps, you won’t be able to borrow the maximum amount during your first advance. Instead, you must work your way up to it. If you have larger direct deposits, other than the minimum of $800 to get an advance, you may qualify for higher advances right out of the gate. You’ll also need to be a Varo customer, with a Varo Online Bank Account or Savings Account.

SoLo Funds

Great for: peer-to-peer (P2P) cash advances.

About

SoLo Funds is the first Black-owned financial technology (fintech) company, founded by Travis Holoway and Rodney Williams. It offers P2P lending via an app with more than 1 million users, 82% of whom come from underserved ZIP codes. This equates to 600,000 loans made with a transaction volume of more than $300 million.

Maximum advance limit:	$575
Time to fund:	Minutes
Subscription fees:	None

Pros and Cons

Pros

• Flexible repayment terms
• Community-based support
• Not giving a tip will have no impact on future loan requests

Cons

• Your loan request may never get funded before it expires
• There are currently several known bugs leading to frustrating customer service experiences
• Recent changes have made it less attractive for lenders to lend, making funding harder to obtain

Fees & APR

Members can tip and make a donation when repaying, although both are optional. It’s important to understand that lenders can see if they will receive a tip from a consumer, and in December 2022, only 0.5% of loans received funding when consumers elected not to tip. A late fee of 10% occurs on the 35th day after advance origination. There are also fees assessed to the lending member and the borrower if a loan is sent to collection, which occurs on the 90th day.

Repayment terms

Loans must be repaid within 34 days, although you can elect to have a shorter repayment period.

Why we like it

SoLo Funds offers flexible loan terms and allows you to state what the funds will be used for, which could potentially entice the lender to choose your advance to fund. These cash advances are community-based rather than provided directly by the platform. When you request an advance, lenders can see your SoLo Funds score, letting them know how risky it is to lend to you, and they can also see if you’re providing them with a tip. Meanwhile, this also means lenders are far less likely to lend to you if you do not tip. The maximum tip you can give is 15%.

Dave

Great for: those who need budgeting assistance along with the added convenience of small cash advances.

About

Dave—a take on David slaying Goliath (aka large banks)—aims to provide banking services to the commoners. It uses artificial intelligence (AI) to help underwrite its cash advances and help customers manage their accounts.

Maximum advance limit:	$500
Time to fund:	5 minutes
Subscription fees:	None

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at Dave

Pros and Cons

Pros

• It takes minutes to set up
• No late fees
• No interest

Cons

• Its express transfer fees to non-Dave accounts are high
• Its knowledge base is basic compared to its competition
• It has one of the highest requirements for direct deposit amounts among its competition

Fees & APR

To transfer to a Dave Spending account, the express fee ranges from $3 to $15 (3% of your advance amount with a $3 minimum), depending on the advance amount. To send the advance to an external account, the express transfer fee ranges from $5 to $25 (5% of the advance amount with a $5 minimum). It’s free to transfer via ACH to a bank account.

Repayment terms

The repayment occurs on your next payday or the nearest Friday if it cannot determine your payday.

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at Dave

Why we like it

We love Dave’s take on using AI to help underwrite how much a customer qualifies for using its cash advance feature (called ExtraCash). It examines over 180 data points to determine the amount to offer customers. These factors include employment history, income, bank account balance, history with Dave, and the customer’s spending patterns.

Dave also offers a “side hustle” feature, which connects users with local flex jobs that work with their schedule. You can also earn money by taking surveys through Dave.

Vola

Great for: overdraft advances.

About

Vola is a subscription service with more than 300,000 clients. Since its inception, it has helped its customers save more than $15 million in bank fees.

Maximum advance limit:	$300
Time to fund:	5 business hours
Subscription fees:	Premium plans start at $1.99

Pros and Cons

Pros

• Increase the amount you can advance by reading financial literacy articles
• No fees
• Referral reward for referring your friends to Vola

Cons

• There are limits to how often you can take a Vola cash advance each year
• Because it uses Plaid, not all customers will qualify
• The maximum advance is only $300

Fees & APR

There is no fee to receive an advance—these are available under Vola’s free subscription tier. Premium subscription plans start at $1.99 per month and include coupons and discounts.

Repayment terms

Your repayment will be deducted automatically from your linked debit card or bank account on your payday or whichever date you previously selected when you took the advance.

Why we like it

Relying on cash advances can impact your financial situation negatively over time. That’s why we like Vola—it rewards you actively for increasing your financial literacy and limits the number of advances you can take. By linking your bank accounts, you can see your balances and spending at a glance, and it will send you alerts when your balance is low. This way, you can request an advance to help cover you so you won’t have to pay any nonsufficient funds (NSF) or overdraft fees by your banking institution.

EarnIn

Great for: those who need immediate access to their paycheck. It allows you to get up to $750 before payday.

About

EarnIn is a cash advance app available on both Apple and Android devices. It offers cash advances of up to $750 per pay period and operates on a tip-based platform. Users have the option to add tips on each transaction to support EarnIn’s services.

Maximum advance limit:	$750
Time to fund:	Minutes
Subscription fees:	None

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at EarnIn

Pros and Cons

Pros

• No mandatory fees for standard transfers
• 24/7 customer support with a goal to respond in less than a minute to inquiries
• You can reschedule your repayment to your next pay period once every 60 days

Cons

• The average amount users get at sign-up is only $85, as you increase this with a good EarnIn history
• Might not work for those in untraditional work environments
• Maximum allowed per day is $100

Fees & APR

EarnIn’s basic services have no fees, although the service’s automatic debits could result in overdraft fees if your pay dates aren’t correct in the system. EarnIn offers several added features, including Lightning Speed transfers, which enable payouts in minutes. The fee for Lightning Speed transfers ranges from $3.99 to $4.99 per transaction, although the first is free.

Repayment terms

EarnIn debits your account automatically for the cash advance once you’ve been paid by your employer. You can also pay EarnIn back manually via manual debit or money order. It’s important to understand that EarnIn withdraws funds on your direct deposit date, which does not always coincide with your payday. Many institutions deposit your funds early, but depending on when your employer uploads payroll data, you could be paid later than you normally would. This inconsistency could cause EarnIn funds to withdraw before your paycheck hits your account.

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at EarnIn

Why we like it

EarnIn has a feature where you can tip yourself between $1–$50 total per day, accumulating up to $2,000 across five tip jars. While it isn’t interest-bearing, this can be used as a way to save money for specific expenses, such as a vacation or a rainy day.

EarnIn offers several added features, including Lightning Speed transfers, which enable payouts in minutes. There is also free credit score monitoring and a warning system called “Balance Shield” that alerts you when your funds are low.

Payactiv

Great for: accessing your paycheck early.

About

Headquartered in Milpitas, California, Payactiv got its start in 2012. It works with more than 1,500 businesses and has helped over 2 million users access more than $5 billion in wages.

Maximum advance limit:	$1,500
Time to fund:	Immediate
Subscription fees:	None

Pros and Cons

Pros

• Multiple transfer options
• Helps avoid overdraft and late fees
• Can use earnings for ride-sharing services, discounts on gas, and shopping online, in addition to bills

Cons

• Dependant on employer participation
• Limited to employer’s settings for accessible balance
• Maximum available is $750 unless you use the Payactiv Visa Card for your direct deposit

Fees & APR

The only fee you’ll pay for accessing your paycheck early is if you want instant deposits. These fees range from $2.49 to $3.49, although this is waived if you have a direct deposit of more than $200 per pay period.

Repayment terms

Your Payactiv repayment will show as a deduction on your next paycheck.

Why we like it

Sometimes, making ends meet before your next paycheck is due to arrive is made difficult by emergencies. With Payactiv, you can access the money you’ve already earned before your next paycheck. This requires employer participation but is a great feature to have if it’s available to you. Repayment will show as a deduction on your next paycheck.

Albert

Great for: occasional overdraft protection.

About

College roommates Yinon Ravid and Andrzej Baraniak founded Albert in 2019 and aim to help customers have financial stability. Its members have saved and invested over $1 billion.

Maximum advance limit:	$250
Time to fund:	Instant
Subscription fees:	$9.99 to $14.99 per month

Pros and Cons

Pros

• Requires no credit check
• No fees other than your subscription, unless paying for Fast Transfer
• 30-day free trial

Cons

• The average approved advance is just $95
• Must have a Genius subscription for an instant overdraft advance
• It’s less an advance and more like standard overdraft protection

Fees & APR

Your Albert subscription costs $9.99 per month, although you’ll need its Genius subscription at $14.99 per month to access automatic overdraft protection.

Repayment terms

You have a six-day grace period to repay your overdraft protection.

Why we like it

Albert Instant will cover overdrafts that occur due to withdrawals at an ATM, debit card purchases, and electronic transfers, such as an ACH. You have six days to cover your overdraft; otherwise, it may suspend overdraft privileges.

DailyPay

Great for: accessing money you’ve already earned.

About

Founded in 2015, DailyPay gives employees access to money already earned. It raised $5 million in Series A funding, $9 million in Series B funding, and $500 million in Series D funding.

Maximum advance limit:	Varies
Time to fund:	Instant
Subscription fees:	None

Pros and Cons

Pros

• Can transfer up to $1,000 per day
• Supports tips, rewards, and hourly pay
• You can set your own withdrawal limits to encourage better financial management

Cons

• Dependable on employer participation
• Only available to employers with more than 500 employees
• Not all banks or credit unions are supported, such as small credit unions, American Express cards, and Discover cards

Fees & APR

Fees are set by your employer’s contract. However, there is no fee to receive a next-business-day transfer.

Repayment terms

Your DailyPay repayment will show as a deduction on your next paycheck.

Why we like it

With DailyPay, you can transfer up to $1,000 per day in as many as five total transfers. The amount you can transfer varies by what’s accumulated in your “Available now” section of the app and depends on the hours you’ve clocked for your shift. However, you can withdraw 100% of what’s available in that section, so if you have $500 available, you can withdraw $500. 

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Empower

Great for: someone who wants a full money management experience.

About

Empower is a fintech company offering a variety of financial products to help customers manage their personal finances. These include cash advances, lines of credit, automatic savings, credit monitoring, and spend tracking.

Maximum advance limit:	$250
Time to fund:	Instant
Subscription fees:	$8 per month

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at Empower

Pros and Cons

Pros

• No interest
• Instant delivery of advances are fee-free if sent to an Empower debit card
• No late fees

Cons

• Because it uses Plaid, not all customers will qualify
• Your cash advance amount can be lower, based on spending habits
• Cash advances are unavailable to those living in Connecticut

Fees & APR

You will pay no fee if your cash advance is sent via ACH to an external bank account or if it is delivered instantly to an Empower debit card. If sent to an external bank account instantly, your delivery fee varies from $1 to $8, depending on the amount of your cash advance. There is also a subscription fee of $8 per month for Empower.

Repayment terms

Empower deducts the cash advance amount and fees from your linked bank account on the repayment day.

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at Empower

Why we like it

Empower addresses your whole financial picture, from spending to credit, through its variety of financial products and services. 

Your goal should be to get to a place where you’ll never need a cash advance again, and Empower offers the tools to get you there. Its AutoSave feature helps you determine how much you can save and when and will help you build your savings through automatic transfers to your Empower account.

What is a cash advance app? 

Cash advance apps are tools that can bridge the financial gap between paychecks. You connect your bank account, upload employment and earnings info, and then you can transfer a portion of your upcoming earnings right into your bank account or on a designated debit card. Then, repay that advance during your next payday.

They can also be helpful for consumers facing potential penalties when their checking account funds are low. 

“You can pay bills on time, and you can avoid overdraft fees,” says Ram Palaniappan, CEO of EarnIn, one of the cash advance apps outlined above. “That’s money that stays in your pockets.”

Cash advance app vs. payday lender

Typically, a cash advance is more flexible and convenient—ideal for short-term needs. A payday loan is often much less flexible and has higher risk than a cash advance. Here are some other key differences.

Pros and cons of cash advance apps

Cash advance apps are a popular means for getting quick access to funds before payday. Here are some things to consider before taking one.

Are cash advance apps safe?

Usually, a cash advance app offers advanced encryption and security measures so your data is protected. Additionally, some even face regulations from financial authorities, depending on whether they’re banks or financial technology (fintech) companies.

Another essential aspect to consider is whether taking a cash advance will further any financial hardship you face. While cash advances are less risky than other methods, such as a payday loan, they aren’t suited for more significant financial issues that require long-term solutions. 

Is a cash advance app right for me?

Determining whether a cash advance is right for you requires some self-reflection on your financial habits. Consider these questions:

• How quickly do you need funds, or can it wait until your next paycheck?
• Can you afford to repay the advance without it creating a domino effect with the rest of your budget?
• Have you considered an alternative option, such as cutting back expenses or selling something on Facebook Marketplace?
• Do you understand the fees you might be charged?
• How often do you face cash shortfalls?
• Can you avoid dependency?
• What is your financial health like?

Alternatives to cash advance apps

Cash advance apps aren’t the only choice if you need cash before payday. Here’s a look at some of your other options.

Buy now, pay later (BNPL) apps

A BNPL app is an attractive option if you have a large purchase to pay for but you don’t want it all to be taken out at once. However, if you get stuck in the cycle of using these to shop, rather than paying for the things you need, you can find yourself in an even worse position than where you started.

Personal loans or credit cards

A personal loan can usually help fund larger purchases, though you’ll be charged interest on this. Additionally, a credit card can help you out in a pinch. 

“Someone would use a credit card if they could pay back that debt within a few months,” Noble says. “This is due to the large interest rates usually associated with them.”

Debt relief companies

A debt relief company can negotiate debt on your behalf and come up with a plan to help you pay much less than before. They do this by paying a lump sum to your creditors based on money you accumulate in a separate savings account while they do the negotiating. During this time, you’re not paying those creditors, so your credit score will tank in the short term. If you take this route, it’s important to address your financial habits so you don’t find yourself in a similar position years down the road. 

Credit repair companies

While a credit repair company doesn’t lend money, it does help fix your credit by reporting inaccuracies on your credit report. In turn, this can help you qualify for less expensive funding options. 

Methodology

We looked at more than 20 cash advance apps and determined the best cash advance apps available today based on these factors:

• Loan amount per pay period (25%):  The most important factor to consider is how much money you can access through the app.
• Speed to access funds without paying a fee (20%): The point of a cash advance app is to get money quickly. If it’s not instant or same-day, we rated the app less highly.
• Maximum load amount per day (15%): Several apps have daily limits that differ from the limit you can access during a pay cycle—if you need money fast, a daily limit could impact how helpful the app will actually be.
• Fast-funding fee (15%): Some apps require a fee if you want instant access to the cash.
• App rating (15%): User experience is critical when trying to move quickly and get the funds you need. Apps that were rated highly scored higher in our rubric.
• Monthly subscription fee (10%): If the app charges a subscription fee to use the service, we rated it less highly.

The takeaway 

Cash advance apps let you access a portion of your paycheck early and may be a good option on occasion. As Lokenauth explains, however, “These should not be used as a long-term financial solution.”

Using cash advances often may indicate a deeper financial issue, so if you find yourself needing help regularly, consider working with a credit counselor or budgeting professional for help. Building up an emergency fund can also help you better handle a financial emergency should one arise.

Frequently asked questions