Speedy Cash is a direct lender well-known for its payday loans. It also offers title loans, short-term installment loans and lines of credit. You can get funds the same day you apply, and in most states, its payday loans range from $100 to $500, with actual amounts and costs varying by state.
However, payday loans aren’t known for being the most affordable borrowing method. And with Speedy Cash, you might pay as much as 460% APR or more on its payday loans. This can get expensive — over 80% of people who take out payday loans have to renew it at least once, according to the Consumer Financial Protection Bureau, and it can trap you in a cycle of debt.
If you just need a small amount of cash to get through to your next payday or you’re looking for more affordable borrowing options, we’ve got you covered.
Calling all Chime customers: SpotMe is a built-in feature of Chime's checking account that can help you avoid costly overdraft fees. Unlike Speedy Cash, it's not a loan. Rather, it's free overdraft feature that offers between $20 and $200 in free overdraft funds if you overdraw your account – with no fees or interest tacked on like with Speedy Cash.
But there are some requirements. To be eligible for SpotMe, you need to have at least $200 in monthly direct deposits from a regular payer and you must activate the SpotMe feature within the app. The SpotMe overdraft feature works with purchases, ATM withdrawals, cash-back transactions and over-the-counter withdrawals.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Direct deposit: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. SpotMe: Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
Pros
Get other Chime users to send you boosts to increase your SpotMe limit
Cleo offers cash advances from $20 to $250 with no required credit check or interest charged on the loan. They appeal to freelance workers specifically by not asking for employer verification or timesheets. Advances are easier to navigate through the app with a $5.99 subscription, but you can apply through customer service for free, without one.
Cleo also allows you to take a new advance just 24-hours after paying off your previous advance. And you can reschedule your payment one time, if your finances don't allow you to pay back the money at the agreed upon time.
Available in all states
Pros
New advance available 24 hours after payoff
One-time due date extension
No credit check or employment verification
Cons
$5.99 monthly subscription fee
Non-subscribers must contact customer service to apply for cash advances
$3.99 express fee for same-day funding
Loan amount
Up to $250
Loan Term
Varies
Turnaround time
3 to 4 days standard transfer. Same day with $3.99 express fee.
Loan amount
$20 - $250
Turnaround time
3 to 4 days standard transfer. Same day with $3.99 express fee.
Albert is a banking app that offers cash advances up to $250. While that is a lower amount than Speedy Cash's payday loans, there are no interest charges, late fees, inactivity fees or monthly membership fees. And if you qualify, you may be able to borrow up to three cash advances per pay period if you maintain a good repayment history.
With the $8 monthly paid membership Genius, you can get instant delivery for free and access additional perks like investing and investing advice. Without the paid membership, you can pay a fee of $6 for instant delivery. Just know that when you create an account with Albert, you're automatically enrolled in the Genius free trial, which you must cancel after 30 days if you don't want to be charged $96 for the annual membership fee. Most of Albert's negative reviews are related to the automatic paid membership enrollment and the inconvenience of it.
Brigit offers cash advances with delivery speeds as fast as 20 minutes, up to $250 per pay period. It also has overdraft protection features, alerting you when it thinks you're about to overdraft, and you set it to automatically deposit funds into your account to overdraft fees.
But Brigit isn't free if you want cash advances — it charges a $8.99 monthly membership. There's also an extra fee if you want same-day funding. However, there are no interest charges or late fees and you have the option to change your cash advance due date up to three times.
Unlike Speedy Cash, OppLoans only offers online installment loans. But with rates capped at 160% APR and terms from 9 to 18 months, it can be a more affordable alternative to Speedy Cash. OppLoans also reports payments to credit bureaus to potentially improve your credit score with timely payments and offers higher loan amounts than Speedy Cash.
But monthly income requirements can be high in some states, and you must be paid with direct deposit to qualify. You'll also need to make at least $1,500 each month to qualify. OppLoans rates and availability vary widely by state, so you may have to do some comparison shopping to see if OppLoans actually is a more affordable option for you. Like many short-term lenders, it's faced lawsuits for charging higher interest rates than legally allowed in Washington, DC.
Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
Cash App is a very popular banking app, namely for its convenient peer-to-peer (P2P) payment services which allow you to quickly and easily send money to friends and family. But that's not all it's got — you can also invest in stocks and crypto, get paid early, earn discounts with the Cash Card, and possibly borrow with its latest feature.
Qualified users can take out small loans with the Cash App Borrow option, which offers small loans up to $200 with a 5% interest rate, repaid within four weeks. But since it's still a new feature, not all of its eligibility requirements are clear. You'll likely need to be an active user, make regular deposits, have good credit and be in an eligible state.
MoneyLion, a mobile banking app, offers cash advances through its InstaCash feature. Unlike many banking apps, there's no monthly membership fee to access the cash advances, which range from $50 to $500 with the free membership — same max amount as Speedy Cash's payday loans.
If you want larger advances, you can sign up for RoarMoney for $1 per month, possibly allowing you to borrow up to $1,000 per pay period. Delivery times can be as soon as 24 hours with the paid membership or as long as five days.
On the downside, MoneyLion doesn't have the cleanest reputation. In 2022, it was sued by the Consumer Finance Protection Bureau (CFPB) for overcharging service members and has over 1,262 customer complaints on its Better Business Bureau (BBB) profile.
Available in: Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Maryland, Michigan, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Utah, Washington, Wisconsin, Wyoming
Pros
No paid membership required
No interest charges
No credit check
Multiple advances
Cons
Over 1,262 BBB complaints
CFPB lawsuit for overcharging service members
Loan amount
Up to $500 or $1,000 with RoarMoney account
Loan Term
Due by your next pay date
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Loan amount
$50 - $500
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Alternative for mobile installment loans: Possible Finance
Possible Finance offers short-term loans of up to $500 with terms up to 2 months that you can apply for on your phone. Similar to a banking app, you can borrow these small loans right from the app. No matter how much you borrow, the term is always four payments over eight weeks. And unlike Speedy Cash's payday loans, Possible Finance does report payments to two credit bureaus, so there's an opportunity for you to build a credit history and improve your credit score. Funding can also be as soon as one business day.
However, rates vary by state, with costs likely ranging from $15 to $20 per every $100 borrowed — a slightly lower APR than Speedy Cash in some cases. But in a few states, APRs can be around 460%, so it may be wise to compare other options before going with Possible. And it's only available in 16 states.
Available in: Alabama, California, Delaware, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Utah, Washington
Pros
Convenient borrowing
$500 limit, like Speedy Cash
Reports to two credit bureaus
Delivery as soon as one business day
Cons
Limited state availability
High APRs
Loan amount
$50 - $500
Interest rate type
Fixed
Loan Term
2 to 8 weeks
Turnaround time
As fast as 1 business day
Loan amount
$50 - $500
Turnaround time
As fast as 1 business day
How does Speedy Cash compare?
Speedy Cash has been around since 1997 and offers multiple loan types. It has other financial services available, like checking cashing, money orders and money transfers. Speedy Cash has 161 physical locations, and if you apply in person, you could get your funds the same day. However, locations aren’t in every state, and its online installment loans are only available in 12 states. You can get a full rundown with our Speedy Cash review.
Bethany Hickey is a personal finance writer at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
Hello I recently got approved for financing on a used vehicle. Little money down with weekly payments of an agreed amount. Is there financed options to have my vehicle payed off, and allow me to arrange monthly payments just pay much longer term?
Thanks for getting in touch with finder. Congratulations for having a car, Cody!
Regarding your question, yes, there are a few things you can do. One is to refinance your car loan and the other is to apply for a personal loan and use the money to pay your existing car loan debt. That way, you can simply pay your personal loan lender.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
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Hello I recently got approved for financing on a used vehicle. Little money down with weekly payments of an agreed amount. Is there financed options to have my vehicle payed off, and allow me to arrange monthly payments just pay much longer term?
Hi Cody,
Thanks for getting in touch with finder. Congratulations for having a car, Cody!
Regarding your question, yes, there are a few things you can do. One is to refinance your car loan and the other is to apply for a personal loan and use the money to pay your existing car loan debt. That way, you can simply pay your personal loan lender.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua