Looking for a financial application that can assist you in managing unforeseen expenses? Empower is a popular choice, particularly among gig economy workers, due to its feature of providing short-term, interest-free cash advances up to $250 without any credit checks. For those in need of quicker access to funds, Empower also has an instant access option available for a nominal fee.
However, Empower isn’t your sole option—there are numerous alternative apps that provide similar functionalities, with some offering even higher advance limits, budgeting tools, or flexible repayment plans. Here’s a summary of the leading alternatives to Empower that you can consider today.
Top 7 Alternatives to Empower for Small Cash Advances
1. Chime – Ideal for Instant Fund Accessibility
Chime provides a checking account that includes a SpotMe feature, allowing eligible users to overdraw their accounts by up to $200 without facing overdraft fees. Chime users benefit from:
– Absence of monthly fees
– No minimum balance requirements
– Access to over 60,000 ATMs with no fees
– Early paycheck availability up to two days in advance via direct deposit
Note: Chime operates in partnership with FDIC-insured institutions rather than being a bank itself.
2. Dave – Ideal for Budget-Conscious Fees
Dave is a subscription-driven app that allows cash advances of up to $500 without credit checks or interest charges. Here are the standout features of Dave:
– Low $1 per month subscription fee (less expensive than Empower)
– Budgeting, overdraft protection, and credit monitoring tools
– Automatic repayment on your following payday
Dave connects to an existing bank account and aids users in sidestepping overdraft fees or delays in payment.
3. Varo – Ideal for Flexible Repayment options
Varo offers banking services and cash advances ranging from $20 to $250 through its Varo Advance feature. Notable benefits include:
– Borrowing $20 at no cost; higher advances incur fees of $4–$15
– No transfer or subscription fees
– Repayment duration of up to 30 days
– Possibility of qualifying for advancements up to $500 with a good payment record
To be eligible, users need to receive a minimum of $800 in direct deposits each month.
4. MoneyLion – Ideal for Higher Cash Advance Limits
MoneyLion is a comprehensive app that provides financial resources and quick access to cash with its Instacash feature. Key highlights include:
– Cash advances up to $500 (or $1,000 for premium RoarMoney members)
– No interest and rapid disbursement choices
– Tools for budgeting, credit monitoring, and cash-back offers
MoneyLion is a fintech platform that needs users to set up direct deposits to enjoy the maximum benefits.
5. EarnIn – Ideal for Early Access to Earnings
EarnIn allows users to withdraw up to $750 per pay period based on their earned wages. Its unique offerings include:
– Interest- and fee-free advances
– No credit check requirements
– Suggested tip model rather than fixed fees
– Instant transfer option (Lightning Speed) available for a small fee
EarnIn connects to your work schedule or timesheet to ascertain eligibility.
6. Brigit – Ideal for Preventing Overdraft Fees
Brigit assists users in dodging overdraft charges by actively monitoring account balances and facilitating cash advances (up to $250) when necessary. Features include:
– Compatibility with over 15,000 banks
– No hidden fees or interest charges
– Simple approval process with no credit checks
– Subscription plans: $8.99/month for Plus, $14.99/month for Premium (includes access to credit builder loans)
Expedited delivery can occur in as little as 20 minutes.
7. Cleo – Ideal for AI-Enhanced Financial Guidance
Cleo functions as a financial assistant, providing users with budgeting support, savings tools, and short-term loan options. Its AI-driven interactions allow you to inquire about spending and obtain personalized advice. Cleo’s features include:
– Cleo Plus ($5.99/month) offers cash advances up to $250
– Cleo Builder ($15.99/month) offers tools for credit development
– No credit checks or interest on loans
– Engaging chatbot interface that assists with budgeting and planning
Advantages and Disadvantages of Utilizing Cash Advance Applications
Advantages
– Rapid, interest-free access to funds
– No credit checks involved
– Avoid costly payday loans (which can exceed 450% APR)
– Prevent overdraft and late payment charges
– Aids in managing cash flow between pay periods
– May enhance credit scores (some apps report positive payment histories)
Disadvantages
– Subscription costs can range from $1 to $18/month
– Fees may apply for instant transfers
– Risk of becoming reliant on short-term loans
– Approval isn’t guaranteed—even with a paid subscription
– Low initial limits for new users or those with limited account history
Additional Approaches to Obtain Emergency Funds
If you’re wary of linking your bank account to a financial app, consider these alternative methods:
– Request an advance on your paycheck from your employer
– Use a credit card for short-term expenditures and pay it off quickly
– Seek assistance from a peer