Here are our favorite free instant cash advance apps, good alternatives to instant cash advance online loans:
Dave. Dave offers cash advances of up to $100. We like it for its overdraft fee protection, automatic budgeting tool, credit Builder, and fee-free ATM access to more than 32,000 MoneyPass ATMs. It is also the only paycheck advance program on our list that offers a cash-back program through a dedicated credit card.
Albert. Promising a " simple way to bank, save, and invest," Albert claims to have saved and invested more than 1 billion dollars in member proceeds. In addition, it offers cash advances of up to $250 with no overdraft fees. We like it for its robust feature set, offering automatic savings, budget tracking, and even investment advice based on your specified goals and accepted level of risk.
Chime. Chime is one of the more popular cash advance alternatives out there. It offers users up to $200 on debit card purchases with no overdraft penalties, allowing users to get their paycheck up to two days earlier. Expect no overdraft, minimum balance, or foreign transaction fees. We also appreciate its extensive ATM network with over 60,000 fee-free ATMs nationwide, especially popular at pharmacies and convenience stores.
Cash App. The number one cash advance app in the app store, Cash App is arguably the most popular peer-to-peer payment platform in the world. It offers cash advances that go from $20 up to $200 with longer than usual repayment terms of up to four weeks. However, it does charge a 5% fee for a loan. If paid after four weeks, there is a 1.25% finance charge. Although formidable in its own right, there are better 0% interest options, including Earnin and Brigit.
Cleo. Cleo offers paycheck advances of up to $200 at 0% interest with no minimum required credit score. However, first-time users can expect anywhere from $20 to $70. Once you have an established history on the platform, you can request higher advances of up to $100. One of the best things about the services is that you can be a part-time worker collecting direct deposits. So, eligibility requirements differ from more popular apps like Earnin, Brigit, and Dave.
Brigit. One of our favorite cash advance apps, Brigit spots you up to $250 at 0% interest. Instead, it charges a monthly membership fee of $9.99. However, most of its platform revolves around financial management tools, including overdraft protection, credit monitoring, and bill management, allowing users to track expenses and payments. Consider it one of the better paycheck advance apps out there.
Instant Cash Advance vs. Traditional No Credit Check Payday Loan Advance
There are more differences than similarities between instant cash advances and traditional no credit check payday loan advances.
For starters, instant cash advances are short-term loans of up to four weeks (some exceptions apply), providing borrowers quick access to cash to pay for much-needed expenses such as unpaid medical and utility bills. In addition, funds can be approved the same day with next business day funding.
Conversely, a no credit check payday loan advance requires no minimum credit score, due on the borrower's next payday. There are two ways to apply — through a payday loan store or online. Payday loan stores require that borrowers submit a post-dated check or authorized electronic withdrawals for loan proceeds to be deducted on the next payday. Online payday loan stores follow the same authorized electronic withdrawal process.
With instant cash advances, expect to complete an online or mobile app application instead of a traditional credit check payday loan which requires an in-person visit at a payday loan store.
Keep in mind the difference with repayment terms as well. For example, instant cash advances may require fixed installments, repaid over several months. On the other hand, traditional payday no credit check loans must be paid by the borrower's next payday, a 2 to 4-week time frame.
Both options come with higher-than-average interest rates and fees. However, there are plenty of opportunities to seek fast and easy sub 35.99% APR instant cash advances and alternative payday loans from credible and legit direct lenders. We encourage you to review all loan terms and conditions before committing to anything.