Are you looking for the best free apps like Dave for your money management in 2023? No worries, this article is going to be helpful for you. Even though your monthly phone bill arrived surprisingly sooner than usual, payday is still two weeks away. Things like these might be a pain, especially if you’re struggling to make ends meet.
Luckily, there are now financial apps that can assist you in getting by without snaring you in a debt trap. Dave is a cash advance app that helps people get the money they’ve already earned before payday without having to pay bank overdraft fees. But now it’s not just Dave. There are now more and perhaps better choices thanks to apps like Dave.
What is Dave?
The Dave app is a cash advance software with special features to help you manage your personal money. Unlike many other cash advance best apps like dave, you could be eligible for up to $500 in cash loans, but the cap is subject to change based on your qualifications. Even in the months you don’t use the Dave app, you must pay the $1 annual membership cost. Just register with Dave and get a cash advance to get started. You must fulfill the following requirements in order to be eligible:
- possess a bank account that is at least 60 days old.
- Have at least two regular direct transfers from your company in your account.
- Your account must be in the black.
Dave will also look at your spending history on the linked account, how long it will be until your next paycheck, and how much your monthly direct deposit is. Dave doesn’t do a credit check before giving you a cash advance, therefore, it has no impact on your credit rating.
Best 10 Apps Like Dave
Here are the best apps like dave to utilize for minor cash loans with minimal or no fees:
1. Albert
A well-known cash advance app, Albert, offers cash advances of up to $250. Like Dave, they don’t impose any fees or interest charges, and you are permitted up to three cash advances every pay period with a $250 maximum total of $250. When you are between paychecks, Albert’s cash advance function alerts you. The cash advances from Albert are free, and like other apps like dave, you may increase your loan amount by making timely payments on a lesser initial amount. You must pay back the borrowed money on your next payday, but if you are having problems, you can arrange for an extension.
Pros:
- No monthly service costs
- Early access to direct deposit money
- Can advance up to $250
Cons:
- Joint accounts are not permitted.
- The majority of features demand a $8 monthly membership.
- Savings account APY is poor.
2. Varo
Varo provides cash advances of up to $100 with no fees or interest. Instead, a fixed charge depending on the advance amount is paid, and the balance is paid back on your following payday. Varo will deduct the money from your account automatically on your following payday if you fail to return the advance.
Pros:
- No monthly service costs, overdraft fees, or penalty penalties
- Obtaining your salary in advance
- Can access up to $200 if necessary
Cons:
- Just a Chime bank account and a Visa debit card are permitted for cash advances.
- Low initial limitations
3. Empower
Empower users can get a cash advance of up to $250 without having to check their credit or pay any fees. The transfer takes a few days, like with other cash advance apps like dave, but you may have to pay a fee to have a quick transfer if you need one. The money can be sent to your Empower card or an outside bank account.
Pros:
- Monitor all of your money in one location.
- Receive free early access to cash to prevent overdrafts.
- makes it simple to automatically save money
Cons:
- high monthly payment
- Only permits cash advances up to $250
4. Axos Bank
Axos does not provide loans or cash advances, it is not a cash advance app like Dave. They do, however, provide a service known as “Direct Deposit Express” that gives you access to your paycheck a few days earlier. In contrast to most banks, which require you to wait until the deposit clears, Axos allows you early access to your salary. As a result, when Axos learns that your company has deposited your check, they provide you immediate access to the money, which for most people is a few days before your scheduled payday. Because they “advanced” you the funds before they cleared, Axos keeps them after they clear.
Pros:
- Early access to your income without concern for cash advances
- Simple actions like direct deposit or using your Axos Visa debit card can raise your account’s yield percentage (APY).
- No monthly charges
Cons:
- If you run out of money before payday, there is no cash advance alternative.
- $50 is required to start an account.
- To obtain your early paycheck, you must set up direct deposit with Axos.
5. Earnin
Earnin provides early access to your earnings. But, they believe that if you have earned the money, you should be able to access it, therefore they provide you access to up to $750 every pay period and $100 per day. To get early access to your earnings, you must download the Earnin app and verify your income and job. Based on the number of hours you work, Earnin will then determine how much money you can access early. To obtain early access to your money, you must have direct deposit. The money you request using the Earnin app will then be sent into your bank account as usual immediately before payday.
Download from Google Play Store
Pros:
- As you earn money, you may access it.
- There are no charges or interest.
- To prevent overdrafts, you’ll be aware when your bank account is low.
Cons:
- Direct deposit must be set up.
- You must provide Earnin access to your checking account.
- Early access to earned money might become a negative habit.
6. Chime
Chime is a cash advance service that provides up to $200 on debit card transactions and cash withdrawals. SpotMe does not impose overdraft fees, but it is not a cash advance. Instead, it’s a line of credit that is still open when you use your Chime debit card to go over. Most customers have a $20 credit limit at first, but with good credit history, they may increase it to $200. If you go over the limit on your bank account, Chime will automatically pay the overdraft, which will lower the amount of credit you can use. The loan payment is then immediately deducted from your upcoming paycheck by Chime.
Download from Google Play Store
Pros:
- No monthly service costs, overdraft fees, or penalty penalties
- Obtaining your salary in advance
- Can access up to $200 if necessary.
Cons:
- Just a Chime bank account and a Visa debit card are permitted for cash advances.
- Low initial limitations
7. MoneyLion
MoneyLion is similar to Dave, although some members’ cash advance limitations are $500. It provides more than just cash advances; it is a personal financial tool that aids users in taking charge of their money and achieving their objectives. You must receive your paycheck via direct deposit and link your bank account in order to apply for a cash advance with MoneyLion. You can be qualified for cash advances of up to $1,000 if you create a MoneyLion RoarMoney Account.
Download from Google Play Store
Pros:
- Provides simple access to cash advances between paydays.
- The comprehensive software includes several personal finance functions.
- With a MoneyLion bank account, you may obtain even greater cash advances.
Cons:
- For larger cash advances, a MoneyLion bank account is required.
- The majority of apps like dave take longer to process cash advances.
8. DailyPay
DailyPay provides access to 100% of earned revenue, in contrast to the Dave app. This could be a good option for someone who is in a real emergency and needs more than $500 to fix the problem. Instead of making employees wait until payday, DailyPay offers what they refer to as “earned wage access,” which allows workers to access their money as they earn it. DailyPay, like Payactiv, is only accessible if your company makes it available. Your company will know how many hours you worked and how much you made because DailyPay works with their timekeeping software. The DailyPay app notifies you of your earnings and any early transfers after each shift. Whenever, day or night, you may send money to wherever you need it.
Download from Google Play Store
Pros:
- Access to all earned money, less taxes and other obligations
- You can establish automated savings.
- You may check the user-friendly app 24/7 and it will tell you how much money you’ve made.
Cons:
- If you withdraw money you’ve earned too soon, it could become a bad habit that leaves you unable to pay your bills.
- Only if your workplace provides DailyPay are you eligible.
- Customer service is challenging to reach
9. Payactiv
Another app that gives you earned revenue before payday is Payactiv. But, your employer must have a subscription in order for this app to function. You will have access to cash as you earn them if your company utilizes Payactiv. You can withdraw cash or transfer the money to a card or bank account. If your workplace has Payactiv, the app will keep track of your working hours and the daily limit on how much of your income you may transfer. You have the option of scheduling recurring transfers or transferring money only as required. Also, if you take out cash before you get paid, Payactiv will keep the percentage that was given to you in advance.
Pros:
- Access your pay as you earn it
- No charges or penalties
- Even if your employer doesn’t subscribe, it offers a number of additional unique advantages.
Cons:
- Without your company joining up, you cannot access earned cash.
- This could encourage unhealthy spending habits prior to payday.
- The website is not very user-friendly.
10. Brigit
Similar to Dave, Brigit is an app that provides instant cash advances and other features to help you manage your personal finances. Subscribers get access to up to $250, although the initial caps are often smaller until you can show that you pay back your advances on time. The majority of borrowers pay back their advance on their next pay day, but you can ask for additional time if you need it. Deposits normally take a few business days, but you can pay a modest charge for an immediate transfer. There is a monthly cost of $9.99 to use Brigit’s other services like Quick Cash.
Download from Google Play Store
Pros:
- Cash advances have no interest or fees.
- can set up automatic advances to prevent overdrafts
- works with more than 6,000 banks
Cons:
- The cost each month is expensive.
- For cash advances, a separate bank account is needed.
- Download the Brigit app from the iOS App Store or Google Play to get started, then link your external checking account.
FAQ
How can you submit an application for funding based apps like Dave?
To sign up for apps like Dave, you usually have to answer questions about your identity and link your external bank account. Cash advance apps may not let you use them if you have a negative balance or a new bank account. This is because they need to know that you have a steady job and will be able to pay back the advance on your next payday.
How fast can a cash advance be obtained with a cash advance app?
If you want your cash advance without paying anything, the transfer may take a few working days. But, if you’re in a pinch, you can often pay a minimal charge ($5 or less) for an immediate transfer and get the money in minutes.
Is it Safe to Use Cash Advance apps like dave?
Cash advance apps like dave can be secure, but you should always do your homework. For instance, make sure they employ bank-level security, don’t keep your bank account information, and use websites like Plaid to access your bank account information.
What is the maximum cash advance possible using Dave like apps?
While some cash advance apps permit advances of $500 to $1,000, the majority of them cap cash advances at $200. But this won’t happen straight away. Most apps like dave demand that you demonstrate your capacity to repay minor advances before allowing anything bigger.
