What Are Popular Apps for Paycheck Advances?*

Most of us know the feeling as payday draws near, and it can't come soon enough. Rather than waiting around, paycheck advance apps can give you fast access to some of your paycheck.

Paycheck advance apps are a popular option, in part because there are typically fewer and lower fees when compared to other options like payday loans. Also, these apps make applying for an advance quick and easy.

How paycheck advance apps work 

Paycheck or cash advance apps work by letting you borrow a portion of your paycheck before you actually receive it. It can help people out when facing an emergency expense or when you're short on cash at the end of the month.

However, there are some things to be aware of before using a paycheck advance app, including eligibility criteria, fees, and deciding whether it's truly the best option for you to get access to funds. 

Eligibility criteria. Luckily, eligibility criteria are usually minimal with paycheck advance apps. Typically, you will need to be a U.S. resident over the age of 18 and already have an active bank account. Credit scores are usually not required, but it's important to check this with each app. 
Fees. There are sometimes fees associated with getting access to your paycheck early, which could include one-off fees for accessing an advance or monthly account fees. Some apps even let you get access to cash instantly for an extra fee. 

Popular paycheck advance apps 

Chime 

Chime is a financial technology company that works with national banks to offer banking services and products for everyday people. One of Chime's features is called Get Paid Early, which gives customers access to some of their paychecks early.

How much cash can you access? Chime users can get paid up to $500 of their paycheck before payday.
How fast can you access the money? Chime's Get Paid Early feature lets you access your paycheck up to two days earlier than expected, which is usually on the day Chime receives the paycheck from your employer.
Who's eligible? You must be at least 18 years old, have an active Chime Checking account, and have received two qualifying direct deposits of $200 or more in the last 36 days (although there are exceptions to this).
Paying the advance back. The amount that you choose to receive in advance is automatically deducted from your Chime Checking account. If you have outstanding MyPay balances after four repayment attempts, you will lose access to your MyPay account. You can re-access it only if you can repay the remainder of your balance by calling Chime to make a manual payment.
Fees. Scheduled advances are free and will arrive in your account within 24 hours. You can pay $2 per advance to get it instantly.

Dave

Dave's banking app offers a simple way to manage your checking account through an app that also allows you to access some of your paychecks earlier than expected.

How much cash can you access? With Dave's Checking Account, you can access up to $500 from your paycheck. The amount you qualify for may depend on your individual circumstances.
How fast can you access the money? Dave's app lets you access your paycheck up to two days early.
Who's eligible? You must be at least 18 years old, a permanent resident, or a U.S. citizen with a Social Security number or tax identification number. Your linked bank account must have at least 60 days of activity, a positive balance, and at least three recurring deposits.
Paying the advance back. On your settlement day, Dave takes repayment for the advance automatically from a connected bank account. If you can't repay the full balance, Dave can take partial payments until it's settled. No late fees or interest are required.
Fees. Dave does not charge late fees, minimum balance fees, or ATM withdrawal fees at over 40,000 MoneyPass ATMs. While Dave has a free account, you can unlock extra features for $5 a month. 

EarnIn

EarnIn is an app you can link with your bank account to access your pay as you work rather than having to wait. 

How much cash can you access? EarnIn lets you access up to $150 per day in advance, with a maximum of $750 per pay period.
How fast can you access the money? Access your cash up to two days early at no cost or in minutes for a fee of $2.99.
Who's eligible? You can use EarnIn if you are employed and have a consistent pay schedule. You must have permanent residence in the U.S, a valid U.S. cell phone number, and be over 18.
Paying the advance back. EarnIn will automatically deduct the repayable advance from your linked bank account, plus any optional tips.
Fees. EarnIn has no mandatory fees but accepts tips depending on what you think is fair, even if that's $0. The only fee is if you choose to expedite your transfer for $2.99. 

Brigit

Brigit allows users to access cash advances in minutes, build credit, and manage finances through a simple app interface.

How much cash can you access? If you qualify to use Brigit, you can receive an advance between $25 to $250, with most being in the range of $50 to $100.
How fast can you access the money? There are two options with Brigit. The Standard Delivery method means you can get cash within 1-3 days. Alternatively, Express Delivery means you can get the cash within 20 minutes, which comes with additional fees. 
Who's eligible? To qualify for Brigit, you will need an active checking account that has at least 60 days of account history. You will also need to have at least three qualified, recurring deposits from the same deposit source or employer.
Paying the advance back. Payments for the advance and fees are taken automatically from your account on your due date. Brigit notifies users two business days before the due date, and you can apply for any extensions before this.
Fees. Brigit offers a free account, or it costs $8.99 a month for the Plus account or $14.99 for Premium. Brigit charges no late fees or penalties for not being able to repay by the due date. You can extend your due date in the app by requesting an extension credit at least two days before it's due.

Netspend

Netspend currently has two options to get early paycheck access. You can get paid up to two days early¹ through your Netspend® Debit Account, which is a feature available through your Netspend app. Or there's a second option called Earned Wage Access², which is for employers who wish to help their employees gain faster access to their paychecks up to two days faster.¹

How much cash can you access? Netspend allows you to access up to 50% of your paycheck in advance.
How fast can you access the money? Get paid up to two days earlier¹ than your usual payment date.
Who's eligible? To open a Netspend® Debit Account, you will need to supply information to verify your identity, which will allow you to access advances from your paycheck. The Earned Wage Access² option is only available to employees of employers who have joined the program. 
Paying the advance back. Netspend will automatically take repayment for the advance from your current account.

Tips for choosing paycheck advance app 

What should you look for in a paycheck advance app? As each one has slightly different features, terms, and criteria, the top things to look out for include:

Speed 

Most paycheck advances are accessible within 1-3 days. However, some apps let you choose a faster option — usually for a small fee.

Advance amount

One of the most important things to check when choosing an app is the amount of money you can access. Some apps may require that you use the app for a period of time before you can access those higher amounts. 

Fees

Fees to look out for include advance fees, late fees, monthly account fees, and faster payment fees (which are usually optional). It's important to check for fees before signing up so you're not hit with a surprise. 

Eligibility requirements 

Most paycheck advance options don't require credit checks, but you may be expected to have a minimum balance, active bank account history, and a history of regular deposits in your account.

Some apps are also only available in certain states and require you to be a permanent resident of the state before using it. 

Additional tools 

Cash advance apps often offer more than early access to your paycheck, including additional account types, features, or money management tools. Compare apps to see if they offer budgeting tools, other accounts, credit-building options, or prepaid cards.

No need to wait for cash with paycheck advance apps 

Whether you're dealing with an unexpected bill or simply want a head start on managing your money next month, cash advance apps with early paycheck access give you the power to control your hard-earned wages sooner rather than later. 

However, it's still important to use them responsibly so that you don't get into a cycle of debt each month. 

Make sure to read the terms and conditions so that you're aware of potential fees, eligibility criteria, advance amounts, and speed before signing up.