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Best Cash advance apps like Dave for Getting Fast Cash

It can be stressful to get money fast, particularly when you are living between paychecks. Luckily, there are cash advance apps like Dave that can help you get the funds you need.

Dave is a cash advance software that aids users in receiving funds prior to payday and wants to prevent bank overdraft fees at the bank. Similar applications to Dave are popping up, providing users with greater and potentially more options.

What is Dave?

Dave has witnessed an exponential growth in the number of subscribers since the company was made public in 2016. By 2020, Dave is expected to have more than seven million customers. 

In simple terms, Dave is a personal financial cash advance app that offers an advance amount of $200. Customers appreciate it since there is no interest rate and there is an affordable annual membership cost.

Customers can also get instant access to cash within eight hours at a cost that is $1.99 (or $5.99. )

Is Dave safe to use?

Dave has been plagued by issues recently. There was a massive data breach that affected 7.5 million individuals from July through July. 

This announcement of the breach posted on their site states that personal information, including customer names, emails, and phone numbers up to Social Security numbers that were encrypted, has been compromised. 

Dave further noted that the incident had not resulted in the theft of any financial data, since neither credit nor bank information had been exposed.

The incident was sorted out, but the bad news will remain forever written in black ink on Dave’s name. 

Pros and cons of getting an advance payment from Dave

Pros

  1. Dave is an excellent option to use as an emergency expense of just a couple of dollars.
  2. When your income is not sufficient to pay your costs, Dave can be a financial savior.
  3. Dave offers a low monthly cost for a membership fee.
  4. Dave gives personal debit and credit cards to customers.

Cons

  1. Access to subscriber’s bank account details.
  2. It encourages people to invest money they do not have.

10 Cash Advance Apps Similar to Dave App

It is time to look at your other available options. Dave will be your most efficient application for a payday advance application. However, many other apps are similar to Dave, offering the same services but with different regulations.

Here are our top 10 suggestions for the top apps identical to Dave (including Cash advance apps from the app store).

1. Earnin

Earnin is a good option for those with a steady income because people may link their bank accounts to Earnin and utilize the app. It offers a cash-out of 0 per day or 500 cash-outs per pay cycle. 

The application functions like Dave that lets you get personal loans in line with the hours you work. The app does not cost users to subscribe. 

It does provide the option of leaving a tip, with customers being able to give Earnin anywhere from $1 to $15. It was developed to ensure that borrowers do not be a victim of interest rates and a credit check.

Furthermore, you’ll have immediate access to money that you borrowed by using the Lightning Speed program, which will deposit the cash you borrowed that same day to your bank account. 

Why you should use it?

There’s nothing to worry about the app. While the majority of banks charge fees for express transfers, cashing out with Earnin is completely free. Earnin will then debit the amount that you borrowed to your bank account upon the time of payday.

2. Even

Here’s a good app like Dave that offers more than just early payment to those who haven’t had their pay yet, as well as an array of financial strategies. 

Employers need to have an active account for their customers or employees to be able to utilize Instapay. Instapay also gives users early access to payments. 

Users have the option of withdrawing up to 50% of unpaid earnings in a given pay period. This is predicated on the idea that employees get credit for each hour they labor. As a result, individuals are entitled to receive payment for every dollar earned throughout their working hours.

Why you should use it

Users do not need to pay tax or incur interest on cash-outs. There is a monthly cost that each user pays which is also affordable. Customers can get their cash on the same day or make an Instapay via Walmart MoneyCenter.

3. Brigit

Brigit is a credit-card application that gives a reasonable cash-out limit between $9.99 and up to $225 monthly. What makes this application similar to Dave is the feature of checking credit, which examines your bank account and estimates how you use your funds. 

The smart choice indicates that the business is ready to offer you the financial support you need. However, it is also sure that you do not get overdrafts.

Why you should use it

Users must earn a minimum of $1500 per month to qualify for the service, so anyone can qualify. Furthermore, Brigit sets a subscriber back up to $120 for the year. Dave provides a year-long subscription fee that costs twelve dollars. 

4.  A Chime

Despite being just eight years ago, Chime has grown in prominence as a Dave-like application. In the world of financial technology and banking, it’s a relative newbie.

Chime has roughly eight million accounts and is anticipated to reach around ten million users by the end of the year.

There have been stories of rivals attempting to copy Chime’s model or inventing variants on the elements of Chime’s model in order to improve their appeal. Chime is a great place to start if you want to improve your credit score while still making money.

The app is appealing, particularly to people who have just turned 18 and are eager to create a bank account. You can cash out as much as $200 per day and without paying overdraft charges. But, Chime is much more than just an app that allows you to fund your salary in advance. 

Why you should use it

If you sign up for an account with Chime, you’ve instantly registered in a spending account and savings account. If you have an outstanding balance on your savings account, Chime will automatically put the account in a position to earn interest at 0.5 percent per year.

5. FloatMe

FloatMe is a finance application specifically designed for millennials. It helps millennials avoid cash shortages and improve their financial situation. In an interview with FloatMe, its founder Josh Sanchez stated that the company could provide advances of up to $200.

However, the company discovered the average American has an overdraft when they spend more than $24 on the purchase. After this, the company devised a plan to reduce advances to only $50, focusing on the primary audience.

Why you should use it

FloatMe is a brand new pay advance service. Anyone who would like to join must pay a monthly charge of just $1.99. In addition, Potential subscribers may test out FloatMe’s service for free for 30 days. Then, you can remain with the service or decide to terminate at any time before the trial period ends.

6. Payactiv

Payactiv is one of the best payday loan programs like Dave. It is a service available to everyone who is employed. The app lets them take cash out of hours they’ve already worked. 

The advantage of Payactiv is that the subscribers do not have to pay any interest because they don’t require loans in the first place. Subscribers may get financial support right away if their employers agree to utilize Payactiv.

Why you should use it?

Payctiv does not impose undisclosed fees on customers. This includes monthly charges, inactive fees, and regular charges. It’s quick and straightforward. You can apply for advance payment based on how much you’ve made in a single pay period. You can get the money in your account at the bank and immediately debited at the time you get your paycheck.

7. MoneyLion

Anyone in financial need can take advantage of the payday advance program. Members can cash out up to $250 each day with MoneyLion. But, as with Brigit, MoneyLion applies a rigorous process to screen potential customers.

It also has strict guidelines for use for payday advances. Customers need to open a checking account at MoneyLion to be eligible for payday loans.

Why you should use it

Anyone who qualifies to receive an advance payday shouldn’t worry about paying monthly fees for interest. Cash withdrawals will also be transferred into your bank account the next business day.

The disadvantage is that MoneyLion is not available in certain states in the US that comprise Montana, Iowa, Indiana, Vermont, Nevada, and Nebraska.

8. Branch

Branch is a no-cost debit and mobile bank card that provides users with access to cash at any time they require. Customers can make cash withdrawals of up to $500 in advance in increments of $150 every day. 

Naturally, this depends on how many hours of work the customer has already completed and paid. The problem when using Branch and other cash advance apps like Dave can be that you have an account through Branch before using it since an employee can take your cash in advance. 

Also, you’re not eligible until you’re employers have bank accounts through the Branch. If not, you won’t be able to take part in the program.

Why you should use it

Branch and Dave are similar in terms of customer happiness, although Branch does not charge monthly membership fees to its users.

9. DailyPay

DailyPay offers an alternate application similar to Dave, which allows workers to access their unpaid wages before payday. 

The users can select which way to receive the money they’ve borrowed. You can choose an account with a debit card or a savings account at the bank or credit card, or the option of a payment card. Customers can borrow as much as 100% of unpaid wages. 

Why you should use it

DailyPay is built on the idea that employees earn credits for hours they work. As a result, they can get a portion of the credit for every dollar they donate. They can also execute at least five transfers every day. You may also make daily transfers of up to $1000.

10. Ingo Money

Our top pick on our list is Ingo Money, one of the payday cash advance apps similar to Dave, which provides financial services that include personal checks, personal cash checks, personal checks, and business checks.

With Ingo Money, checks are everywhere. What are the steps to follow? For sums up to $5,000, users’ checks need approval.

Ingo Money charges a normal fee of 2% for payroll and government checks with pre-printed signatures and 5% for all other checks received.

Why you should use it

You’ll get your money within a matter of minutes, with only a small fee. You can access the cash within the next working day.

Why use cash advance apps?

Payday advance apps can be a good option for anyone who needs payday cash advances.  There is no credit, check involved and you will always get a notification on overdraft warning if you have a less bank account balance.  Other benefits you will get include;

  • Balance shield alerts
  • ATM access
  • Time tracking software
  • Direct, deposit to your account
  • Manageable bank fee

Cash Advance vs. Loan Apps Like Dave

Despite their differences, many individuals assume that cash advances and payday loans have a lot in common.

Paycheck advances and cash loans give everybody the money they need. This is particularly appealing to people who earn low amounts. The high-interest rate is the main difference between cash advances and personal loans applications.

Payday lenders are notorious for defrauding people by charging interest on money they’ve borrowed. 

Dave’s strategies for cash advance applications

Before making a final choice, it is critical to weigh the benefits and drawbacks. Cash advance applications aren’t different. These mobile apps like Dave offer a fast-term financial floatation option for those who require access to cash. 

The majority of advance pay systems are strict and track how much time a user spends before calculating how much money they may take. Certain services also have an established limit.

Conclusion

One thing to keep in your head is that the money you’re getting is due. While it states paycheck, the main point is that its money you haven’t earned yet. Additionally, you’re trying to gain access to the money via an unrelated third-party service. They’ll then ask you to pay for the amount that you withdraw in advance. This is why, before applying for an advance cash payday loan, you should figure out how much money you’ll need as well as the interest.

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