Cash Advance Apps Like Dave

Cash advance apps like dave can be exactly what you need when you have a financial emergency. Here is all you need to know.

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In life, there are many things that we can't control no matter how hard we prepare. For example, an unexpected expense can come up anytime. If it happens and finds you in a tight spot financially, it helps to know where you could get help.

That's where Dave comes in. Dave can be your knight in shining armor when you have a financial emergency.

However, maybe Dave is not exactly a one-fits-all app, and sometimes, you might need to explore different (and possibly better) options available out there.

We have put together some of the most popular cash advance apps like dave that are happy to come to your rescue in times of need.

What is Dave?

Dave is a cash advance app popular for features such as unique budgeting tools and overdraft warnings.

The Yours to Spend summary feature offers a personalized budget tool that factors in your income and past expenses to estimate how much you can spend freely. Its overdraft warning feature keeps track of your balances and sends you an alert if your account is about to be withdrawn.

In addition, Dave is in a league of its own regarding services such as early paydays and cash advances. It offers its customers cash advance of up to $250 that is processed within 8 hours and charges a fee of between $1.99 and $5.99. This helps customers access quick cash when they need it.

Since its launch in 2016, the company has seen tremendous growth. By the end of 2022 is expected to hit 12 million subscribers.

Pros & Cons of Dave

Like anything in life, Dave also has its advantages and disadvantages. They include:

Pros

  • Dave offers a quick solution for small emergency expenses.
  • It comes in handy when your paycheck is barely enough to cover all your needs.
  • Dave has reasonable monthly subscription fees.
  • Dave offers debit and credit cards to its subscribers.
  • Easy qualification terms when applying.

Cons

  • Dave might not be best if you need a larger amount of money.
  • It requires you to have a functional bank account.
  • It can be a motivation to spend money you don't have.

10 Best Cash Advance Apps Like Dave

Chime

Chime has been around for almost a decade now. Today, Chime has over 10 million users that use Chime as an online bank account. The users use Chime to make direct deposits, transfer cash, send and receive checks, process bills online and get a cash advance on their salary when they're low on funds.

Unlike many other cash advance apps like dave, Chime offers its services completely free of charge. There are no maintenance fees, express processing fees, transaction fees, or other hidden fees.

Their Spot Me feature allows customers to overdraw their account for up to $200, depending on their account transaction history. To qualify for this service, your account needs to have received at least $500 in the last 31 days.

Advantages of Chime over Dave:

  • Has automatic savings and spending account.
  • Zero cost
  • The savings account earns an interest of 0.5% on the existing balance.

Earnin

Earnin lets you borrow money against your next paycheck without fees or interest — up to $500 a day. Once you sign up, you need to connect your bank account to the app to verify your payment schedule.

Once you have linked your bank account, log into the Earnin app, inform the company where you work and bank, and it will use location services or timesheets to compute your work time.

After the verifications, Earnin allows you to withdraw the earnings not yet paid by your employer and then automatically deducts the money as soon as the employer deposits the cheque.

Advantages of Chime over Dave:

  • Earnin doesn't charge interest, processing fees, or subscription fees. Instead, they request you leave a tip after the transaction.
  • Depending on your earnings, you can borrow up to $500 a day ($100 for new users).

MoneyLion

MoneyLion is another go-to app for when you need a quick loan. The app offers its users up to $250 per paycheck ($25 for new users) depending on how much income passes through their checking account.

Although MoneyLion has much more rigorous screening processes, their services are much faster than Dave's. If you have a RoarMoney account you can receive your money instantly or within a few hours.

Like Earning, MoneyLion doesn't charge any fees and instead requests users to leave a tip after every transaction based on the goodness of their hearts. Otherwise, there is an option of paying an expediting transfer fee if you need to receive your money faster.

Advantages of Chime over Dave:

  • No charges except for expediting transfer fee
  • Offers tools to help improve your credit

Varo

Varo is an app that offers full banking services and allows its users to access up to a $100 cash advance when they have a financial emergency. This allows you to access your paycheck sooner and beat the usual delays that come with traditional banks.

On the flip side, Varo charges a fee of up to $5 depending on how much you borrow. The cash advance is payable by the next payday or within 30 days (whichever comes first).

To qualify for a Varo cash advance, you need to have a Varo current account that has been active for at least 30 days.

Varo offers credit-building services, and its credit cards come with no APR, no annual fees, no hard checks, and no minimum security deposit requirements. In addition, their cards are accepted by more than 55,000 fee-free ATMs.

Advantages of Chime over Dave:

  • Offers full banking services.
  • Offer credit cards that have no APR, no annual fees, no hard checks, and no minimum security deposit requirements.

Even

This app provides more than simply an early payment to people who have not yet received their paycheck. Even doesn't charge interest or transaction fees but charges a membership fee of %8 per month for all its subscribers.

To be able to utilize Even's Instapay app feature and get early access to your funds, you must be working with an employer already registered with Even. The app allows you access to up to 50% of your paycheck in advance.

They base their terms on the theory that employees get credits for every hour worked. Hence they deserve every dime spent on those hours.

Advantages over Dave:

  • Offers higher amounts of cash (up to 50% of your earnings)
  • Sends notifications of upcoming bill payments.
  • No interest charges

Brigit

Bridgit allows its users access to up to $250 a month which you receive instantly and is payable by the next payday. However, if you are not able to pay back on time, Brigit permits you to extend the due date of your initial loan without incurring late payment penalties.

The app also allows users to set recurring advances if they think they can overdraw the account. Brigit charges $9.99 per month for this service — along with other premium services. The more you utilize the service, the more extension credits you will earn, allowing you to delay loan payback up to three times in a row.

Advantages over Dave:

  • No transaction fees, loan interests, or late fees
  • Automated advances that will send cash to your account
  • Offer financial tips such as identity theft protection, financial health updates, etc.

FloatMe

FloatMe targets millennials to help them avoid payday loans and enable them to improve their financial health. It allows its users to request and receive cash advances (up to $50) whenever they are in a financial fix.

The app charges a monthly subscription fee of $1.99 but no other fees are charged — no interest charges or transaction fees.

Unlike many other cash advance apps like dave, FloatMe gives its users a 30-day trial period to try out the services before they fully commit. Before the trial period expires, users have the option to continue the subscription or cancel.

FloatMe can track and visualize your monthly expenditures to help you improve your financial health.

Advantages over Dave:

  • 30-day trial period that you can cancel anytime.

Payactiv

Payactive allows access to up to 50% of your earnings if your employer is a Payactive partner. Depending on how much you earn, this can be a substantial amount that could help you get through financial emergencies that require huge amounts of money.

Since the users are cashing in their paycheck early and not requesting a loan, there is no interest charged. Also, there are no other hidden charges on this app.

In addition, this app offers various financial planning tools and also acts as a communication tool between you and your employer (You can track your shift, announcements, updates, and even chat with colleagues on the app).

Advantages over Dave:

  • Can access up to 50% of your wages
  • Acts as a communication tool between you and the employer

Empower

Empower is another cash advance app that allows access to cash advances of up to $250 with no interest or late fees. This is automatically deducted from your next paycheck.

However, the app charges a monthly subscription of $8 if you want to use any of its online financial tools — tools such as autosave that analyzes your income and financial obligations and makes weekly recommendations on how to better make financial plans.

Empower also issue debit cards to its users that you can use at over 37,000 ATMs across the U.S. You can also earn cashback on Empower debit card purchases.

Advantages over Dave:

  • You can earn cashback from selected merchants
  • No charges for cash advance
  • Helps you budget your money

Branch

Like many other cash advance apps, Branch helps employees obtain faster access to their paychecks, track payments and balances, and get spending reports and bill alerts. But unlike most others, it allows the users access to up to 50% of their due paycheck.

In addition, It provides the users (especially those with no bank account with traditional banks) with a free digital account and debit card for transactions. You can receive your cash advances in three days or instantly with no fee if you transfer to a Branch debit card.

There is no membership fee or interest charges but there is a $2.99 - $4.99 charge if you are transferring to a new bank.

Branch comes with features that let you track your earnings, interact with coworkers, and alter shifts for improved work-life balance.

Advantages over Dave:

  • Handy features to support better work-life
  • Can access up to 50% of your wages
  • Acts as a communication tool between you and the employer

Visit Weloans Today to See Some of the Other Cash Advance Apps Like Dave

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