Running out of cash before your next paycheck can be stressful. That's where cash advance apps like Dave come in handy. These apps allow you to borrow a small amount of money to tide you over until your next payday. However, Dave isn't the only option out there. In this article, we'll explore 10 apps similar to Dave that offer cash advances, loans, and payday services. Whether you need a little extra cash for an emergency or want to avoid costly overdraft fees, these apps can provide a convenient and affordable solution.
What is Dave - Banking & Cash Advance?
Dave is a mobile banking app designed to empower users by providing financial services that simplify money management. Whether you’re looking for cash advances, budgeting tools, or ways to earn extra income, Dave has you covered.
Key Features
1. ExtraCash™ Advances
- Dave offers an ExtraCash advance of up to $500. This feature helps you avoid overdraft fees by providing instant funds when you’re at risk of overdrawing your bank account.
- No credit checks or interest charges apply to these advances.
- Plus, there are no late fees if you can’t make a payment on time.
2. Instant Spending with Dave Debit Mastercard
- Transfer your ExtraCash advance to your Dave Spending account and spend it instantly using the Dave Debit Mastercard.
- No waiting period - access your funds right away.
3. Early Paycheck Access
- With Direct Deposit, you can receive your paycheck up to 2 days early. Dave ensures you get your hard-earned money faster.
4. Cash Back Rewards
- Earn up to 15% cash back when you use the Dave Debit Mastercard at select partners.
- Hundreds of opportunities to save money while you spend.
5. Effortless Savings Goals
- Set up a Goals account to save for vacations, down payments, or other financial milestones.
- Recurring deposits help you steadily build your savings.
6. Find Your Side Hustle
- Explore the Side Hustle board within the app.
- Easily apply for part-time roles, gig jobs, remote work, and more to boost your income.
10 Alternatives Apps Like Dave
If you are seeking an alternative, we have compiled a list of the top 10 apps similar to Dave.
1. Chime
Chime is a financial technology company that provides banking services through partner banks. It offers a mobile app that helps users manage their money with various features.
Chime provides a fee-free banking experience with features like overdraft protection, early paycheck access, and credit-building tools. However, it's important to understand the limitations and conditions associated with these features. Overall, Chime offers a convenient digital banking solution for those seeking an alternative to traditional banks.
Pros:
- No monthly fees or minimum balance requirements
- Overdraft protection up to $200 without fees
- Get paid up to 2 days early with direct deposit
- Credit Builder feature to help improve credit score
- 60,000+ fee-free ATMs
Cons:
- Not a traditional bank, services provided through partner banks
- Overdraft protection has limits and conditions
- Early direct deposit timing depends on the payer
- Credit Builder requires qualifying direct deposits
- Limited physical branch access
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2. Cleo
Cleo is an AI-powered money management app that helps users budget, save, and access cash advances. It offers a conversational interface to learn about your finances and get personalized recommendations.
Cleo provides a unique AI-driven approach to managing your money, with features like cash advances, budgeting tools, and credit-building options. However, it's important to understand the eligibility requirements, subscription fees, and data sharing policies involved. Overall, Cleo offers a convenient digital solution for those seeking an alternative to traditional banking.
Pros:
- Cash advances up to $250 with no interest or credit checks
- Automatic savings tools like round-ups and savings goals
- Personalized budgeting without feeling restricted
- Credit-building features with cashback and no annual fees
- Early access to paychecks through direct deposit
Cons:
- Cash advance eligibility requirements and limits apply
- Credit-building and early paycheck features require additional subscriptions/fees
- Limited functionality compared to traditional banking apps
- Relies on third-party banks for certain services
- Personal data sharing and privacy concerns
3. Varo
Varo Bank is a digital banking platform that offers a variety of features to help users manage their money.
Varo Bank provides a user-friendly digital banking experience with features like early paychecks, fee-free transactions, and a high-yield savings account. However, it's important to be aware of the eligibility requirements for advanced features and the potential for third-party fees. Overall, Varo offers a compelling alternative to traditional banking for those comfortable with a mobile-first approach to managing their finances.
Pros:
- No monthly fees or minimum balance requirements
- Get paid up to 2 days early with direct deposit
- Instant and free money transfers with Zelle and Varo
- Contactless debit card with locking capabilities
- Access to 40,000+ fee-free ATMs
- High-yield savings account with auto-save tools
Cons:
- Limited physical branch access
- Advance and credit-building features have eligibility requirements
- Savings account interest rate and advance limits may change
- Potential for third-party ATM fees
- Data security and privacy concerns
4. Albert
Albert is a digital platform that helps you manage your money in one place. It offers a range of features to support your financial well-being.
Albert provides a comprehensive digital platform to help you budget, save, invest, and protect your finances. While it offers convenient features, it's important to understand the costs, limitations, and data practices involved. Overall, Albert can be a valuable tool for those seeking a holistic approach to personal finance management.
Pros:
- Budgeting and spending tracking across multiple accounts
- Subscription and bill management
- Overdraft coverage up to $250
- Early access to paychecks with direct deposit
- Automatic savings and investment tools
- Credit monitoring and identity protection
Cons:
- Not a full-service bank, banking services provided through partners
- Subscription fees for advanced features ($9.99/month or $14.99/month)
- Overdraft limits and eligibility requirements
- Investment accounts not FDIC insured
- Credit score monitoring based on a single credit model
- Limited control over data and privacy policies
5. Earnin
EarnIn is a service that allows you to access your earned pay before your regular payday. It works differently from traditional payday loans or cash advances.
With EarnIn, you can access your earned wages as you need them, without the high costs and fees associated with payday loans or cash advances. This can be helpful for managing unexpected expenses or covering day-to-day costs. However, it's important to understand the limitations and potential fees involved. EarnIn provides a convenient alternative to traditional borrowing options, but it may not be a complete financial solution for all users.
Pros:
- Get up to $100 per day or $750 per pay period of your earned wages
- No interest, no credit checks, and no mandatory fees
- Instant access to your money with "Lightning Speed" transfers
- Free credit score monitoring to track your financial health
- 24/7 customer support
Cons:
- Not available in all states
- Fees may apply for "Lightning Speed" transfers
- Eligibility and access limits based on your earnings
- No traditional banking features (savings, budgeting, etc.)
- Credit score monitoring based on a single credit model
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6. Empower
Empower is a financial app that offers instant cash advances and credit-building tools to help you manage your money.
Empower provides a convenient way to access instant cash advances and build credit without the hassle of traditional borrowing options. Its tools for saving, credit monitoring, and customer support can be helpful for those looking to improve their financial wellbeing. However, it's important to understand the subscription fees and limitations of the services offered.
Pros:
- Get instant cash advances from $10 to $250, with no interest or credit checks
- Thrive line of credit to help build your credit history
- Automatic savings tools to make investing in your future easier
- Free credit score monitoring and tips to improve your score
- Fast customer support via phone, chat, or email
Cons:
- Not a bank, banking services provided through a partner bank
- Instant cash advances have a delivery fee
- Thrive line of credit has an initial credit limit and requires on-time payments
- Requires a $8/month subscription fee after a 14-day trial
- Limited to certain features and services compared to traditional banking apps
7. Payactiv
Payactiv is a service that allows you to access your earned wages as you work, without the need for loans or interest. It offers a convenient way to manage your money and stay on track with your financial goals.
Payactiv provides a convenient way to access your earned wages as you need them, without the typical costs and fees of payday loans or cash advances. Its budgeting tools and financial guidance can also help you stay on top of your finances. However, its services are limited to wage access and related features, so it may not be a complete replacement for a traditional bank account.
Pros:
- Get paid up to 2 days early with direct deposit
- Immediate access to wages earned today
- Free and instant mobile payments to other Payactiv members
- Budgeting tools like SmartSpend and SmartSave to help you save
- 24/7 customer support in English and Spanish
- FDIC-insured Payactiv Visa Card with security features
Cons:
- Requires employer participation to access earned wages
- Limited to features related to wage access and budgeting
- No traditional banking services like checking or savings accounts
- Potential for fees associated with the Payactiv Visa Card
- Limited physical ATM network compared to major banks
- Reliance on direct deposit from employers
8. DailyPay
DailyPay is an app that allows you to access your earned wages before your regular payday. It works as an employer-provided benefit, so you'll need to check with your employer to see if it's available.
DailyPay provides a convenient way to access your earned wages before your regular payday, which can be helpful for managing bills and expenses. However, it's important to note that it's an employer-provided benefit, so the availability and features may vary based on your workplace. Overall, DailyPay can be a useful tool, but it's not a comprehensive banking solution.
Pros:
- Access your earned pay balance anytime, not just on payday
- Receive funds instantly or next business day, depending on your choice
- Transfer money to your bank account, debit card, or pay card
- Get notifications about changes to your available pay balance
- Secure platform with 256-bit encryption and PCI compliance
Cons:
- Requires your employer to offer the DailyPay benefit
- No control over when your employer deposits your earned wages
- Limited to just accessing your earned pay, no other banking features
- Potential for delays or issues if your employer has problems with DailyPay
- No information on fees or costs associated with using the service
9. Brigit
Brigit is a personal finance app that offers cash advances, credit-building tools, and budgeting features to help you manage your money.
Brigit provides a range of financial tools to help you access cash when needed, build your credit, and manage your budget. While the advanced features require a paid subscription, the app can be a helpful resource for those looking to improve their financial well-being. However, it's important to understand the limitations and potential costs involved.
Pros:
- Get instant cash advances from $50 to $250 with no interest or fees
- Build credit history through a 0% APR credit-building loan
- Monitor your credit score and get identity theft protection
- Track your spending, set budgets, and avoid overdraft fees
- Access to earning opportunities like surveys and job listings
Cons:
- Cash advances and credit-building features require paid subscription plans
- Eligibility and advance amounts may be limited based on your financial situation
- Credit score impact from credit-building loan can vary for different users
- Potential for express transfer fees on cash advances
- Limited to mobile app and online services, no physical branch access
10. MoneyLion
MoneyLion is a personal finance app that offers banking, cash advance, and credit-building features to help you manage your money.
MoneyLion provides a range of digital banking and financial tools to help you manage your money, get access to cash when needed, and build your credit. While it offers convenient features, it's important to understand the eligibility requirements and potential fees associated with the advanced services. Overall, MoneyLion can be a useful resource for those seeking a mobile-first approach to personal finance.
Pros:
- Get paid up to 2 days early with direct deposit to your RoarMoney account
- Access cash advances up to $500 with no interest or credit checks (up to $1,000 with qualifying direct deposits)
- Apply for personal loans through the MoneyLion Marketplace
- Build credit with a Credit Builder loan up to $1,000
- Earn bonus cash for opening an account and linking direct deposits
Cons:
- Cash advances and credit-building features have eligibility requirements
- Potential for optional fees on cash advances (e.g., expedited delivery)
- Limited control over personal loan options, which are provided by partners
- Credit impact from Credit Builder loan may vary for individual users
- No physical branch locations, only accessible through the mobile app