Most cash advance apps require you to have direct deposit for your paychecks. But if you’re a gig worker or freelancer or don’t have access to direct deposit, it can be a stumbling block when you need extra cash to make it to payday.
A few apps offer cash advances to borrowers who don’t receive income via direct deposit. You typically just need to verify your identity, have a checking account, carry an average minimum balance and show regular deposits and frequent banking activity.
While some cash advance apps don’t require direct deposit, they typically charge interest rates and other fees. Here are three cash advance apps that loan you up to $500 with no interest charges and no late fees, providing a great alternative to payday loans and other options that may get you further into debt.
In addition to other financial tools, the Cleo app offers cash advances of up to $250 with no direct deposit requirement. Cleo is quick to notify you of your eligibility for cash advances and lets you know within the same day you download the app. You can opt to receive the funds instantly for a fee or for free if you can wait three to four business days.
You pick your repayment date (within 14 days of borrowing) and agree to have the money automatically deducted from your bank account on the repayment date. The app only takes what you’ve borrowed, plus the expedited transfer fee, if chosen. Cleo charges a $5.99 monthly subscription fee for its services.
The Dave mobile banking app allows you to borrow up to $500, depending on your eligibility, and does not require direct deposit. You’ll repay the money on your next payday or, if that can’t be determined, on the nearest Friday from when you took the advance. Dave charges a Up to $5 per month subscription fee and also offers an option to “tip.” A portion of the money goes to the app, and the rest is donated to Feeding America.
Dave has several money transfer options to choose from, depending on your needs. You can have the money transferred to your Dave Spending Account instantly or sent to an external debit card within about an hour, both for a small fee. Or, the money can be transferred to an external bank account within three business days for free.
You can get cash advances up to $300 using the Vola cash advance feature, and there is no direct deposit requirement. The basic membership is free, but you’ll need to send an email to hello@volafinance.com to request a cash advance. Premium Vola subscriptions start at $2.99 and give you access to more convenient options to request advances.
Unlike other apps, Vola doesn’t charge fees to transfer the advance regardless of the option you choose. If you opt to have the funds sent to your bank account, you should see a deposit within five business hours, but that could be delayed depending on holidays, weekends or when you make the request. If you have a Vola card, the money is credited to your card immediately.
Cash advance apps, typically a feature of broader mobile banking apps, work by connecting with your external bank account. Based on your account activity, the cash advance app determines if you’re eligible and how much you can get. It’s important to note that not everyone is eligible, and not all eligible users can request the maximum advance allowed.
If you need a cash advance to get you to your next paycheck, request it directly through the app. If you’re eligible, you’ll receive the funds immediately or within a few days, depending on the transfer option you choose. Sometimes, you can pick a date to repay the advance or one is assigned to you, and you’ll usually have to repay it within one to two weeks.
While you may not need to have your paychecks directly deposited to benefit from a cash advance app, there are some basic requirements, which can vary depending on the app.
In general, you’ll need:
Like any financial transaction, there are benefits and drawbacks to using cash advance apps that don’t require direct deposit.
If your advance limits are initially low, keep using the app for cash advances. Your advance limits typically get higher as you demonstrate regular and responsible borrowing.
There are many cash advance apps to choose from depending on your needs. Some need to be tied to specific employers, borrowing limits vary and a few don’t require direct deposit to take advantage of cash advances.
| Cash advance app | Requires direct deposit | |
|---|---|---|
| Brigit | Yes | |
| Cleo | No | |
| EarnIn | Yes | |
| Albert | Yes | |
| Branch | Yes | |
| Cash App | Yes | |
| DailyPay | Yes | |
| Dave | No | |
| Tilt | Unspecified | |
| FloatMe | Yes | |
| Klover | Yes | |
| One@Work (Formerly Even) | Yes | |
| Payactiv | Yes | |
| Vola | No | |
| Wisely | Yes | |
| Beem | Unspecified | |
| Credit Genie | Yes | |
| GO2bank | Yes | |
| Super.com | Yes |
If you’re not eligible for cash advances or need a larger amount than you qualify for, there are other options to consider.
Most cash advance apps require users to have direct deposit for their paychecks. But, a few apps, like Cleo, Dave and Vola, provide cash advances for borrowers without direct deposit. These are great financial tools for freelancers, gig workers and others who don’t have direct deposit.
Borrowers can access short-term cash loans without needing a credit check or having direct deposit. Plus, you can also receive the funds immediately for a small fee and don’t have to pay interest. The downside is that not all users are eligible for cash advances, and loan amounts are typically small.
In some cases, you can download a cash advance app and receive the funds all on the same day. Other apps may take a day or two to verify your personal and banking information, or you may have to wait a few days to receive the loan if you don’t want to pay an expedited transfer fee.
Even if you’re not immediately eligible for a cash advance from your app, that doesn’t mean you never will be. Many of these apps track your banking activity (securely!), and if you continue to use the app for authorized transactions, you may become eligible for cash advances down the road.
Each cash advance app uses different algorithms to determine how much money you can borrow for a cash advance. Factors may include your average daily bank balance, the amount of your deposits and the frequency with which you use your account.
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