Getting a loan has never been easier. In today’s modern era, the best cash advance app can provide you with an instant loan. Most companies in the app development industry are creating solutions to human everyday problems. Therefore, we share a guide to using some popular cash loan apps in the market currently.
Keep in mind, that now you can get over financial troubles before payday. From affording health finances to handling regular expenses, everything is possible. Experts believe these apps make the most popular alternative to payday loans. It is why we have discussed the top three apps that you may love to use.
Review of the Best Cash Advance Apps
Financial crises are like natural disasters – unexpected and unplanned! You cannot see them unless they get you running for help or aid. Many people request advanced paychecks to get over such troubles. However, the situation will not be favorable every time.
Therefore, it is necessary to always consider an alternative that keeps you from debt. The digital world recommends the use of cash advance apps for such emergencies. However, you must make sure before using such apps. It is because the wrong app can put you into further crisis.
To overcome such issues, our experts have reviewed the top three cash advance apps currently on the market. These are discussed below.
Earnin is one of the best cash advance apps on the market. It is an ideal source to draw a small quantity from your upcoming paycheck in advance. Users can easily request their wages from this app free of charge.
Unlike other apps, it asks users to provide a small tip in favor of the loan. However, experts recommend using this app only during emergencies. Regular use of pay loan apps can make you invest money for granting your personal earnings.
Individuals can request a maximum of $500 from the app.
What’s moreto the App?
According to Earnin, users can leave a tip of $2 for a withdrawal of $20. The due date, in this case, extends to two weeks, which makes an overall 260% annual pay rate. Remember this tip is an optional feature and does not affect the services in any case.
The app will ask for your location details. It is Earnin’s way of deciding a user’s withdrawal date. Also, it consists of an overdraft feature known as Balance Shield Alert. It is a helpful option in the app that sends an alert soon as your balance drops below a certain limit.
Finally, Earnin is ideal for negotiating medical bills. It includes a Health Aid through which you can afford such emergencies easily. To use the app and all its features, follow the below-mentioned steps.
- Start by creating a profile on the app and providing all your account details.
- Keep in mind that downloading the app is useful only if you receive your paycheck through direct deposit. Further, the app tracks the record of your hourly work process according to your profession. The app has three categories for professionals.
On-demand workers – This category of workers is requested to upload their task receipts for record-keeping. Professionals like Uber drivers can benefit from direct uploads of ride receipts by the app automatically.
Salaried workers – These workers are evaluated through location tracking to assure their presence in the office. However, work from home employees can verify their progress by submitting work emails.
Hourly workers – For professionals earning on an hourly basis, the app demands uploaded copies of timesheets. One can also enable location tracking if needed.
- Users can only access money after they have officially earned it. The app allows first-time users to withdraw an amount of $100 in a single time. Later then, you can access $100-$500 on every pay period as per settings.
- Earnin takes about ten minutes to verify the number of hours worked as soon as you request a payment.
- On every withdrawal, the app asks users for an optional tip of $0-$14. This amount gets deducted along with your loan soon as you receive your paycheck.
- It takes about two days to receive the loan when requested during weekdays. However, in the case of a weekend, you receive payments on the next business day. Also, the Earnin allows emergency withdrawal by asking permission from your bank.
Our second pick, Dave, is one of the most recommended pay loan apps on the market today. You can use it easily to request an advance on your wages to afford unplanned expenses. The app lets users create a ‘spending account’ free of any overdraft or insufficient balance fees.
Similar to Earnin, it asks users for an optional ‘tip’ after every withdrawal. However, it balances this amount by initiating a monthly subscription fee. Remember, the app can overdraw your bank account if you are not serious about returns.
In any adverse situation, the app can cost an overdraft fee of up to $34.
What’s more to the App?
According to the app, no member will be charged any fee to request a cash advance. It lets a user return their loan soon as they receive their next paycheck. Regular advances are delivered to the account within a period of two to three days. However, in case of a quick transfer, you can pay a small fee to receive the cash within 8 hours.
Besides providing a loan, Dave brings job opportunities. The app uses an automatic budgeting system to help you save big. It lets you withdraw up to $250 in a single time. Moreover, qualifying for the app is quick and simple.
All you need is a bank account that supports direct deposits. Also, your account must validate two previous direct deposit transactions. For more, keep a few tips in mind.
- Start by downloading the app to your smartphone from the Apple Store or Google Play Store.
- Now, create an account by providing a username, password, and contact number.
- The app will track your earning and spending details to proceed further.
- Remember, signing up for the app is only possible if you accept a monthly membership of $1.
Brigit is created with the initiative to eliminate financial stress from all over the United States. It is one of the most reliable cash advance apps in the market. Also, it serves as an ideal platform for credit building and budgeting. Unlike other apps, it does not track your cash and employment details for further processing.
Instead, the app only asks users for a checking account with the following conditions satisfied.
- Validity of at least two months
- Balance no less than $0.00
- Regular transactions for a couple of weeks
- Wages left over for at least two days
- No less than three deposits from the same employer summing up to at least $800
What’s moreto the App?
Similar to the two previously mentioned cash loan apps, Brigit provides overdraft protection too. It allows users to request only a single advance at a time. In the case of any automatic settings, you must reset to default unless the loan is returned. To help users, the app can reschedule the due date if your account does not have a sufficient balance.
Fortunately, this application also provides identity theft protection. Therefore, Brigit quickly replaces lost credit cards and IDs when needed. To access the complete features of this app, follow the steps below.
- Start by downloading the app directly from the play store.
- Now sign up for an account and synchronize your bank details.
- Soon after accessing your account, the app scores you from 0 – 100.
- A positive score helps you qualify for the advance.
- The app will alert you two days before the due date.
- Keep in mind, that Brigit also provides a free version with limited features and tools. It charges a mandatory subscription fee of 9.99 dollars every month.
Using cash loan apps is simple. You can easily download the most popular of these apps for paycheck loans. Most of the apps perform similar to the three discussed above.
If you have been using any such apps, share your experience in the comments below. Also, name any other apps that you can use to request a paycheck at once.