6 Top Cash Advance Apps in 2024
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Cash advance apps like EarnIn, Dave and Brigit let you borrow a small amount from your next paycheck before you receive it. This quick fix may help if you need cash in an emergency, but it’s smart to consider cheaper options before you borrow through a cash advance app.
Here are the top cash advance apps that let you borrow against future earnings, plus other apps that may be right in some instances.
on Empower
on MoneyLion
Summary of cash advance apps
6 top cash advance apps in 2024
Chime: Best for current Chime customers
4.0
NerdWallet ratingChime MyPay at a glance
Advance amount: Up to $500 or 50% of your next paycheck, whichever is less.
Fees: Fast-funding fee: $2.
Repayment: Advances are repaid when your next paycheck is deposited into your Chime checking account.
Funding time:
Without paying an express fee: One day.
With an express fee: Instantly.
Advance maximums are the lesser of $500 or 50% of your paycheck.
Funds available within one day.
Low fees for instant funding.
No overdraft fees.
No requested tip.
Users must have a Chime checking account.
No payment due date extensions.
Brigit: Best for small advances and budgeting help
Brigit Instant Cash at a glance
Advance amount: $50 to $250.
Fees:
Monthly subscription fee: $8.99 or $14.99.
Optional fast-funding fee: $0.99 to $3.99.
Repayment: Funds are withdrawn from your bank account on the date Brigit determines to be your next payday.
Funding time:
Without paying an express fee: Up to three days.
With an express fee: 20 minutes.
» MORE: Read NerdWallet’s Brigit review
Does not request tips.
Low fast-funding fee.
Tries not to cause an overdraft fee.
Budgeting and credit-building features.
Charges a monthly subscription fee.
Smaller advances than some competitors.
Empower: Best for fast cash
Empower Cash Advance at a glance
Advance amount: $10 to $300 for first-time users. Returning customers may be approved for advances up to $350.
Fees:
Monthly subscription fee: $8, or $0 if you opt out.
Optional fast-funding fee: $1 to $10.50.
Optional tip: Up to 20% per advance, capped each calendar year at your eligible advance amount.
Repayment: Withdrawn from your bank account on your predetermined due date.
Funding time:
Without paying an express fee: 1 day.
With an express fee: Within an hour.
» MORE: Read NerdWallet’s Empower review
Refunds users if the app causes an overdraft fee.
Won't accept both a tip and fast funding fee.
Gig workers and freelancers may qualify.
Advances are funded within one day.
Budgeting and credit-building features.
Advances are smaller than some other apps.
Optional fees are high.
Doesn't notify users before withdrawing repayment.
EarnIn: Best for large advances
EarnIn Cash Out at a glance
Advance amount: Up to $100 per day and $750 per pay period.
Fees:
Optional fast-funding fee: $2.99 to $5.99.
Optional tip: Up to $13 per advance.
Repayment: Funds are withdrawn from your bank account on the date of your next direct deposit.
Funding time:
Without paying an express fee: 1 to 3 days.
With an express fee: Within minutes.
» MORE: Read NerdWallet’s EarnIn review
No mandatory fees.
Low optional fees.
Potentially large advances.
Requires access to your bank account.
May cause your bank to charge an overdraft fee if you don't have sufficient funds on the due date.
Varo: Best for Varo customers
Varo’s cash advance at a glance
Advance amount: $20 to $500.
Fees: Advance fee: $1.60 to $40.
Repayment: Payment is due between 15 and 30 days after borrowing. Borrowers can choose from a list of available repayment dates when they borrow.
Funding time: Instant.
No option to tip.
Up to 30 days to repay.
Funding is instant.
Saving and credit-building tools.
Fees are mandatory, and high compared to some other apps.
Must have a Varo bank account.
Users cannot change repayment date.
Repayment may cause users to overdraw their Varo accounts.
MoneyLion: Best for large advances to MoneyLion customers
MoneyLion Instacash at a glance
Advance amount: Up to $500, or up to $1,000 for members who use other MoneyLion features. Advances are disbursed in $100 increments.
Fees:
Optional membership fee: $9.99 or $19.99 per month.
Optional fast-funding fee: $0.49 to $8.99 per advance.
Optional tip: No maximum.
Repayment: Funds are usually withdrawn on the date MoneyLion determines to be your next payday.
Funding time:
Without paying an express fee: 1 to 2 business days for MoneyLion checking account holders; 2 to 5 business days for those without a MoneyLion checking account.
With an express fee: Within minutes.
Advances up to $500.
Tries not to cause overdraft fees.
Allows users to extend repayment date.
No mandatory fees.
Advances may take a few days to be deposited.
Advances are disbursed in maximum $100 increments.
High fast-funding fees.
Other cash advance apps to consider
These cash advance apps didn’t make our list of top contenders, but they may be right for some consumers.
Dave
The Dave app lets you borrow a small amount of money to cover expenses while you wait for your next paycheck or to avoid overdrawing your bank account. Dave charges high fast funding fees compared to other cash advance apps and its borrowing process is more complex than other apps’.
» MORE: NerdWallet’s Dave app review
Klover
Klover offers one $100 advance based on bank account eligibility and another $100 advance based on participation in its points program. The points program requires users to upload receipts, take surveys and watch videos in exchange for points, which translate to dollars users can get as advances or to cover fees. High fast funding fees and the many steps to getting a small advance makes it a less-than-ideal fast-cash option.
» MORE: Read NerdWallet's Klover review
SoLo Funds
SoLo funds provides peer-to-peer cash advances. Users send loan requests through the app’s marketplace and lenders (other consumers) choose which users to lend to. Advance requests through SoLo Funds have a 55% to 60% chance of approval, according to the app, and the app has had multiple regulatory run-ins in the last couple of years.
» MORE: NerdWallet's SoLo Funds review
What to know about cash advance apps
Unlike with other borrowing options such as credit cards or personal loans, the cost of borrowing with a loan app isn't expressed as an interest rate. Instead, apps may charge subscription or fast-funding fees, and many suggest you tip them.
Lenders and credit card issuers describe the cost of using their products as an annual percentage rate, which accounts for interest and other fees they may charge. Loan app companies argue that APR isn’t a fair way to represent the cost of their products, but we’ve included an example of what the equivalent APR would be for each app based on the fees charged for a sample loan amount.
Pros and cons of loan apps
Small app fees can add up quickly, and NerdWallet doesn’t recommend paying for early access to money you’ve earned. These apps can help in emergencies, like when you need to cover a car repair or unexpected travel expenses, but financial experts say they aren’t sustainable, long-term solutions.
Consider the pros and cons before using a cash advance app.
Pros
Fast cash in an emergency: Some apps can immediately deposit money into your checking account — but they often charge an extra fee for that service.
May be cheaper than an overdraft fee: If your choice is between a paycheck advance and paying an overdraft fee, the advance is likely cheaper. Many app fees can be under $10 (without a tip), while bank overdraft fees can be up to $35.
No credit check: Cash advance apps don't check users’ credit, so a low score won’t keep you from qualifying for an advance. And cash advance apps typically don’t report repayment history to the credit bureaus or work with collections agencies, so there are no credit consequences if you don’t pay the advance back.
Cons
May cause an overdraft fee: Most apps require access to your bank account to withdraw money when it’s due. Some companies say they try to avoid triggering an overdraft but don’t guarantee it. The exception is Empower, which will refund, upon request, overdraft fees it causes.
Fees add up: Though advances are generally cheaper than payday loans, subscription fees, fast-funding fees and optional tips can add up.
May lead to repeat borrowing: Because apps make borrowing from your next paycheck easy, they could lead to a cycle of debt if you rely on advances to cover regular expenses.
Are cash advance apps payday lenders?
Cash advance apps are not considered payday lenders, and payday lending regulations don’t apply to them.
But some consumer advocates consider them thinly veiled payday lenders, since both offer small-dollar loans due on your next payday.
Cash advance app APR example
If you borrow $100 seven days before you get your next paycheck, pay a $5 express fee, a monthly $1 subscription fee and tip $1, it’ll cost $7 to borrow the $100. The APR on that loan would be 365%.
Are apps like DailyPay and Payactiv cash advance apps?
Not exactly. DailyPay and Payactiv are part of the earned wage access industry, meaning they work with your employer to make part of your paycheck available before payday. Cash advance apps like the ones listed here don’t work with your employer — they essentially lend you money themselves before you get paid.
Employer-based advances may charge fees, but they tend to be lower than cash advance app fees and employers may cover them. Earned wage access companies take up to a few days to provide funds, which is on par with cash advance apps.
Though it can be useful to cash some of your paycheck early, research from the Financial Health Network shows that many earned wage access users form a habit of dipping into their paychecks early, which could make it more difficult to stick to a budget.
Alternatives to cash advance apps
Compare all your options before you go with a loan from an app. You may have cheaper alternatives that can help boost your finances, credit or both.
Small personal loans: You may qualify for a small personal loan from an online lender. These loans can be as small as $1,000, and APRs are below 36%, which many financial experts say is the highest rate an affordable loan can have. Some online lenders tailor their loans to bad-credit borrowers.
» MORE: Find a small personal loan
Credit union loans: If you’re a member of a credit union, you may qualify for a small personal loan with a rate of 18% or lower. Some credit unions offer personal loans of $500, and though they review your credit score to qualify you, they’ll consider your standing as a credit union member in a loan decision. Some credit unions offer payday alternative loans, which are small-dollar loans with low interest rates that you repay over a few months to a year.
» MORE: Learn about credit union loans
Buy now, pay later: “Buy now, pay later” apps like Affirm and Afterpay split a large purchase, like a mattress or laptop, into smaller payments. The most common structure is the pay-in-four plan, where you pay 25% of the expense upfront and then make three more biweekly payments.
» MORE: What is buy now, pay later?
Other ways to make money: Instead of borrowing, you may find a way to earn extra money. You can become a rideshare driver, take online surveys or babysit. You can choose a temporary side gig to cover an emergency expense or find one you enjoy enough to keep as an extra income stream.
Friend and family loans: It can be difficult to ask for money, but it may be your best option if you’re in a bind. Borrowing from someone you trust, like a friend or family member, can get you the money you need without red tape or risk to your finances. You can even draw up a contract that details repayment terms and interest.
» MORE: Learn about family loans
Cash advance app star rating methodology
NerdWallet reviews and rates cash advance products from financial companies that provide cash advance apps. We collect over 24 data points from each company, verify the information with company representatives and compare the app with others that seek the same customer or offer a similar cash advance product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
The maximum allowable rating for cash advance apps that we review is four stars. Our star ratings award points to cash advance apps that offer consumer-friendly features, including: caps on voluntary tips, protections from overdraft fees caused by app withdrawals, low cost of borrowing and an assessment of the user’s finances before providing an advance. The system also rewards points for features that a consumer seeking an advance would find useful, such as: fast funding without a fee, allowing users to borrow less than they were approved for and customer ratings. Additional points are awarded to apps that provide pathways to budgeting and saving, which are features that can help prevent a user from habitually reborrowing. We weigh these factors based on our assessment of which are the most important for consumers and how they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
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