In today’s volatile economy, many of us have ended up with what’s called “too much month and not enough money”.
Unless you’re lucky enough to be independently wealthy, at some time in your life, it’s probably happened to you, too.
The only remedy once was to get a payday loan if you’re unable to borrow from a friend or relative, your bank, or simply use a credit card.
The problem with PDLs is that the interest rate is egregiously high and many borrowers end up on a “treadmill of debt” where they can’t get off since they don’t have enough money to pay it in full.
These people end up paying the “viggerish” or interest month after month until they simply default.
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That’s where apps like Floatme come in. This particular financial service has helped its many members to save more than $50M in overdraft fees!
They’ve done that via instant cash advances (up to $50) between paydays with both no interest and no credit checks.
The amount borrowed is automatically debited from your checking account via ACH on your payday.
It only takes a minute to sign up and connect the Floatme app to your financial institution and get instant cash ACHed into your account.
The app uses Plaid for securely connecting your bank account (includes over 10,000 institutions) with 256-bit bank-level security for keeping your information safe and secure.
It’s quick, easy, and virtually free of charge. The only fee you ever pay is a $1.99 membership fee.
Floatme is an excellent financial product, however, the truth is that there are now quite a few of them available to you when a shortfall hits.
So, here are ten excellent cash advance app options that are similar to Floatme to help you overcome those rainy days.
With Brigit, you’ll be joining more than three million members who are getting up to $250, building their credit, and saving smarter.
It only takes two minutes and there’s no interest and no credit check required. All you need is a checking account with 60+ days of activity, a positive balance, and three or more recurring deposits from the same source or employer.
You can choose between two delivery options. The first one gets you your cash in one to three days. Typically, if you request an advance on a business day prior to 10:00 am EST, you’ll have it by 11:59 pm the same day.
If it’s after 10:00 am EST, then you’ll have it by 11:59 pm the following business day.
What about weekends and holidays? If you request your advance on one, it’ll arrive by 11:59 pm the next business day.
Business days are Monday through Friday and your delivery time will usually depend on your bank’s processing time.
The second option gets you cash instantly at no extra charge. In fact, you could receive your advance in 20 minutes or less.
All you have to do is add the debit card that’s associated with your checking account when requesting an advance.
If you need a little extra cash between paydays, you can access it in seconds with the Klover app.
And, they approve more customers than most lenders via their proprietary algorithm.
It’s their mission to provide modern financial services access to as many potential customers as possible simply by leveraging the data.
You can sign up in just a few seconds, fill in your personal data, and link Klover to your bank account so that they can verify your paycheck.
They provide cash advances with no credit check, no interest, and no hidden fees.
In addition, you could earn points to put toward increasing your cash advance amount or for getting free expedited service. And, you might even win some money in their daily sweepstakes!
Earnin offers a financial program for employees. They believe that having to wait to receive money that you’ve already earned is just plain crazy. When you become an Earnin member, you no longer have to wait.
And, besides no more waiting, there are no fees or penalties, just easy access to your own hard-earned cash when you need it rather than when your employer wants to pay it to you.
You not only have access to fast cash but also some great tools for improving your financial wellness and 256-bit data encryption with Earnin.
With their Cash Out feature, you could be getting up to a $500 portion of your paycheck early in each pay period.
And, you can also get access to your whole paycheck two days sooner, giving you more of your hard-earned pay right when you need it the most.
When you join Empower, you get access to cash advances up to $250 with absolutely no interest on top of raking in some cashback rewards.
Their membership fee may seem a bit higher than some other financial apps @ $8 per month but it’s well worth it.
They really make it quick and easy to get your cash advance and they also offer live chat support for any questions or concerns that you might have.
And, with the Empower debit card (available in both shiny black and perfect peach), you’ll also be getting unlimited access to more than 37,000 ATMs nationwide.
In addition, you can use any of them as often as you please without ever getting charged for withdrawing cash with your Empower card.
If you don’t fall in love with Dave for its adorable mascot/logo, you’ll definitely fall in love with its simplicity and ease-of-use.
With the Dave app, you could be getting paid as much as two days early, building your credit history, and getting up to $250 cash advances without paying any fees. And, Dave currently has ten million members and counting!
So, if you need a little help covering a bill, you can quickly and easily acquire an advance on your upcoming paycheck and then pay it back on your payday with absolutely no interest and no credit check.
And, when it comes to building your credit history, Dave can help you with that, too. Via their partnership with LevelCredit, you can have your rent payments reported to the major credit bureaus, a credit-building opportunity that’s usually $100 per year but is free for Dave members.
Dave accounts are also FDIC-insured up to $250,000 and protected by bank-level security.
MoneyLion is not a bank but a financial technology company and RoarMoney℠ is powered by MetaBank®, N.A., Member FDIC.
Cash advances require an established bank account with direct deposit. And, RoarMoney℠ offers everything from easy methods for borrowing, saving, investing, and even earning money all in one app. Yes, it really is an all-in-one banking experience that’s also mobile.
With a MoneyLion account, you can get access to cash advances of up to $1,000 with no interest on top of getting paid two days early and enjoying debit card rewards on your daily spending with no minimum balance and no overdraft fees.
And best of all, cash advance funds are added to your account practically in real time.
Cash advance amounts are based upon your recurring direct deposits of your paychecks (or other income like social security, etc.) not yet received.
Even is a financial benefits platform that’s employer-sponsored and provides great tools for helping hourly workers to start managing their earnings better and taking control of their own financial lives.
Employers love the Even app because it boosts job recruitment by 74 percent while improving employee retention by 41 percent, and increasing the employer’s brand by 76 percent.
What about employees? They love Even, too, because it helps them to build financial resilience while giving them much better control of their finances.
It also helps employees with avoiding pricey predatory payday loans, reducing the risk of overdraft fees and late fees.
And, Even makes it simple for employees to get quick access to their paychecks when they need it with Instapay, which is available to Even members at no additional cost.
In fact, members have saved more than $300M in interest and fees with Instacash because it helps them to avoid the many financial pitfalls of loans and overdrafts.
Much like Earnin, with Payactiv you can get some of what you have already earned without waiting until payday.
You can get it right away for paying bills or buying whatever you need and all with no loans, just your own money in your own hands. And, you can manage it all quite simply with your Payactiv account at absolutely no cost to you.
For employers, Payactiv is also good for business with 36 percent reduced turnover, $0 employer cost, and a whopping $400,000,000.00 saved by workers to date.
And, everybody can use Payactiv even if your employer hasn’t enrolled yet. You can start very simply by applying for the Payactiv card and receiving your paycheck up to two days early while also using the savings tools, one-on-one financial counseling, and even prescription discounts.
Currently, Chime has ten million users and firmly believes that bank accounts shouldn’t cost you any money whatsoever.
That’s why they don’t charge monthly fees and also offer more than 60,000 fee-free ATMs at a number of popular locations like CVS, 7-Eleven, Walgreens, and more.
And, with a Chime account, you get SpotMe fee-free overdrafts up to $200 (for eligible members) plus with Chime’s Early Payday feature, you can get paid up to two days early with direct deposit.
The Chime app is so popular that it has actually received more than 200,000 five-star app reviews. And, your Chime account includes a debit card for using anywhere that Visa is accepted.
With DailyPay, you can say goodbye to payday loans once and for all. For employees, you can pay bills on time without incurring late fees or overdraft fees and with absolutely no need anymore for those over-priced payday loans.
DailyPay will be there for accessing your pay as well as saving money on your own terms.
Using DailyPay means that you have the option of choosing when you want to be paid. And, you can instantly access your earned income or choose receiving it on the next business day when you’ve chosen to use DailyPay.
For employers, DailyPay is a frontrunner in on-demand pay with its proprietary software designed for easily integrating with your company’s time management and payroll systems. It gives employees early access to the pay that they’ve earned.
So, no matter which of the above options you choose, you can rest assured that you’ll be saving money on interest and fees while getting the money you need to get to your next payday. In addition, you’ll be saving a great deal of time by using their handy apps to do it.