We all have low-cash moments. Instead of facing non-sufficient funds (NSF) or overdraft fees, cash advance apps can help you secure cash in a pinch, and apps like Possible Finance have changed the game when it comes to cash advances and payday loans.
These apps allow you to quickly secure money when you need it the most. If you can’t wait until payday, Possible Finance can help you access up to $500 regardless of your credit history. It can also help you build credit because it reports to the credit bureaus.
However, Possible Finance isn’t perfect. You may have to pay up to $20 for every $100 borrowed, which can negate the benefit of a cash advance altogether. Plus, it’s only authorized to offer loans in 18 U.S. states.
Fortunately, if you are looking for alternatives to the Possible Finance app, there are plenty of options that we’ve listed below.
9 Best Apps Like Possible Finance
Here are our top picks for cash advance apps like Possible Finance:
1. Albert
The Albert app is much more than just a cash advance app. It is an FDIC-insured all-in-one financial app that allows you to review all your personal finance information in one place. With Albert, you can utilize exceptional features like:
- Budgeting and saving tools.
- Self-directed trading and automated portfolio management.
- Cash-back rewards.
- Cash advances of up to $250.
Of course, all these features don’t come for free. You can use the basic version of the app, which includes cash advances, for free, but you will need to pay $8 per month for the Genius subscription to access the features above.
Securing a cash advance through Albert is simple. You can request up to $250 ahead of your next payday, and Albert will send you the funds within 2-3 days for free or instantly for a fee. You will never be charged a late fee and will not face fees if you pay back your advance after the scheduled date.
Since its founding in 2016, Albert has accrued over 10 million members and is one of the most popular cash advance apps available. Albert is a top choice if you are interested in building wealth, controlling your spending, and accessing cash when you need it.
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2. Dave
If you need a considerable cash advance, Dave’s ExtraCash™ feature offers the largest advance loan amount in the industry of up to $500. They won’t add on any hidden fees or surprises, such as high-interest rates, credit checks, or late fees. You can pay back your loan by agreeing to a set-up repayment date. If you miss your payment on the agreed-upon date, Dave won’t tack on any fees.
You may think that accessing such a significant payday advance would come with a hefty price tag, but that’s not the case. Dave only charges $1 to use their services. While they do encourage users to tip, tipping is 100% optional. This makes Dave one of the most cost-effective cash advance apps out there.
In addition to cash advances, Dave also offers a spending account feature. The Dave Spending account features no minimum balance requirements, automatic budgeting features, and no ATM fees. Plus, you can get ExtraCash™ loans sent directly to your Dave Spending account instead of waiting for an external transfer. Instant transfers will incur a fee of $1.99 to $9.99 for transfers to the Dave Spending account and $2.99 to $13.99 for external transfers.
3. Chime
You’ve likely already heard of Chime, one of the fastest-growing financial technology companies. Chime offers several financial products, including a checking account, savings account, and their Chime Credit Builder Secured Visa® Credit Card.
If you have a Chime Checking account and set up a direct deposit of at least $200 each month, you will be eligible for Chime’s SpotMe feature. SpotMe is Chime’s fee-free solution to overdraft protection and will spot you up to $200 when you make a purchase that exceeds your account balance. Chime will automatically deduct your loan amount from your next direct deposit, so you don’t have to worry about remembering to pay your bill.
Chime doesn’t offer typical paycheck advances like other apps on this list. Instead, SpotMe only covers you when you overdraft your bank account. If you are looking for a cash advance feature that doesn’t require you to overdraw your account, Chime may not be the best app for you. However, their stellar financial services, including their programs to improve bad credit, may outweigh this con.
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4. Klover
Klover is a cash advance app that wants to see its users become financially independent. You can request a moderate cash advance of up to $200 through Klover. To get started, you must create an account with your name, email, and phone number. From there, you will need to link your bank account, so Klover knows where to send the cash. Klover requires at least three consecutive direct deposits from your employer before you request a cash advance.
Because Klover wants to help their customers become financially free, they don’t charge high fees or perform credit checks. The basic version of the app is free, but you can access additional features like their budgeting tool for a meager $2.49 per month.
Klover differs from other cash advance apps in that it doubles as a get-paid-to (GPT) platform. You can earn points through Klover by doing things like taking surveys and watching videos. Once you earn enough points, you can cash them out for rewards like larger cash advances or a chance to enter their daily sweepstakes to win up to $100.
5. Earnin
If you want to access your hard-earned cash before your next paycheck, Earnin can help you. Earnin is a mobile app with the mission to make everyday payday. They allow workers access up to $100 per day and up to $750 per pay period without paying any fees. In fact, users won’t have to pay high-interest rates or monthly membership fees. Instead, Earnin relies on voluntary contributions from its users.
We’re used to tipping at bars and restaurants, but it may seem a little strange to tip for using an app. Earnin doesn’t pressure users to tip, but they encourage users to tip what they think is fair. The maximum you can tip is $14 per $100 short-term loan.
While other cash advance apps may take several business days to process, Earnin issues advances reasonably quickly. They usually send money to users’ bank accounts within 30 minutes. You won’t have to worry about remembering a repayment schedule because Earnin will automatically deduct your advance from your next direct deposit.
Earnin has a few eligibility requirements in order to get your first cash advance. You must have the following:
- A regular pay schedule
- A fixed work location with timekeeping
- Over 50% of your employer’s direct deposit sent to the linked checking account
Earnin is good for more than just cash advances. They have a Health Aid feature, which helps you negotiate medical bills. They also have a Balance Shield feature, which will notify you when you risk overdrafting your account.
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6. FloatMe
If you need a cash advance app for overdraft protection, look no further than FloatMe. FloatMe has created a solution that has saved its members over $100 million in overdraft fees. They are partnered with over 10,000 credit unions and banks to provide overdraft protection of up to $50 per month. This service comes at a small fee of $1.99 per month and requires no credit checks or interest payments.
Because its primary focus is on overdrafts, FloatMe wants to help its users get to know their money with spending insights. Their Insight feature will give you an easy-to-understand snapshot of your overall spending. This can help you avoid overspending and move money around to prevent those low-cash moments.
Like Chime’s SpotMe feature, FloatMe does not offer cash advances. They only provide funds when you make a purchase that exceeds your account balance, which you hopefully don’t often do. Another disclaimer is that it offers one of the lowest limits on the market at $50. You may be better off with another service if you want more than $50 in overdraft protection.
7. MoneyLion
MoneyLion is an all-in-one mobile banking service that wants to help you avoid those “how do I pay for this” moments. They offer up to $500 in interest- and fee-free cash advances through their InstaCash feature and credit-builder loans to help you improve your credit score. You can also get a checking account and an accompanying cash-back debit card to earn cash rewards at your favorite retailers.
Available on all Apple iOS and Android devices, the MoneyLion app is easy to use when you need a personal loan. To get started, download the app and link your checking account. If you have a MoneyLion checking account, the cash advance will automatically route to that. You will then go to the InstaCash page and hit ‘Request.’ From there, you can select the amount you want. If you can wait a day or two, standard delivery is free, but you must pay a small fee if you want the funds almost immediately.
One of the best features of MoneyLion is its credit-builder loans. Credit-builder loans are installment loans that will help boost your credit as you pay them off. On-time payments to lenders play a massive role in determining your credit score, so loans like this are a great starting point for building credit. The only drawback is that this feature is only available through the premium version of the app, which will run you up to $19.99 per month.
8. Cleo
Cleo isn’t like other all-in-one banking apps. They offer cash advances, overdraft protection, and budgeting tools all in a cheeky, easy-to–understand platform. You can sign up in as little as two minutes and request fee-free cash advances that won’t require a credit check. Your first cash advance has a limit of $70, but you can grow that limit over time as you build a repayment history with Cleo.
One of the unique features of Cleo is that it doesn’t require employment verification or direct deposit. This can be a game-changer for gig workers, freelancers, or anyone else who doesn’t receive a regular direct deposit from an employer.
While Cleo earns points for having a user-friendly platform that feels like you’re texting a friend, they lose points for interest on cash advances. You will be charged interest based on how the cash out is processed, such as from a credit card. However, you will not be charged interest if you request a cash advance through the Salary Advance feature.
9. Brigit
Brigit is an excellent solution for people with poor credit who need access to funds. For $9.99 per month, you get access to instant funding, automated paycheck advances, free repayment extensions, and credit-building tools. It also has additional features to help you monitor your spending, such as a budgeting feature that sorts your purchases by category.
Brigit users can request up to $250 in cash advances without credit checks or hidden fees. You can access your funds instantly when you have a qualifying linked debit card. Plus, you can create a flexible repayment plan and change the due date up to three times.
One of the unique aspects that Brigit offers is their Earn & Save feature. The Earn & Save feature allows users to discover new jobs and side gigs to help them earn more. The Earn & Save feature is included in the free plan, but you can access even more components through their $9.99-per-month Plus membership. You can utilize identity protection features, immediate deposits, automatic advances, and more.
Are Apps Like Possible Finance Worth It?
Cash advance apps aim to empower users through financial security and budgeting tools.
Possible Finance is an excellent cash advance app, but it is not accessible to many people in the U.S. due to its state restrictions. It’s only available in the following 18 states:
- Alabama
- California
- Delaware
- Idaho
- Indiana
- Iowa
- Florida
- Kansas
- Kentucky
- Louisiana
- Michigan
- Missouri
- Oklahoma
- Ohio
- South Carolina
- Texas
- Utah
- Washington
As you have seen, there are a variety of cash advances available that suit different financial needs and credit situations. Compare the features of each of the apps listed above to find the best option for your needs.