You may recognize Empower as the application offering cash advances of up to $250 without incurring any fees or requiring a credit assessment. For a minor fee, you can get instant cash instead of waiting for the standard business days for processing.
The Empower app is particularly popular among gig workers since freelancers, contractors, and alternative employees can easily obtain cash advances through Empower.
While Empower is a solid choice for urgent cash requirements, there are numerous comparable applications available. These alternatives may provide larger loans, more flexible conditions, or helpful budgeting features.
7 Best Apps Similar to Empower for Small Cash Advances
Here are the leading alternatives to Empower that you can download right now:
1. Chime
Best for: Instant Access
Chime is a robust checking account solution that permits account holders to overdraw up to $200 through the SpotMe initiative.
With SpotMe, account holders can overdraw up to $200 on debit card transactions without incurring fees. Chime does not charge any monthly, balance, foreign transaction, or network ATM fees at more than 60,000 machines.
Account holders can receive paychecks up to two days earlier through direct deposit. Though Chime is not a bank, it collaborates with The Bancorp Bank, N.A., and Stride Bank, N.A., both Member FDIC institutions.
Learn More at Chime.com
2. Dave
Best for: Low Costs
Dave provides advances up to $500 with no interest or credit checks, payable on the next payday.
In addition to fast emergency funding, Dave offers budgeting tools, overdraft alerts, credit monitoring, and automatic bill payments.
Link your bank account to access Dave’s financial tools and cash advances. The app has a monthly fee of $1 (compared to Empower’s $8), saving users $500 each year.
Learn More at Dave.com
3. Varo
Best for: Flexible Repayment Options
Varo offers both checking and high-yield savings accounts, along with tools to automate your savings.
Account holders can use Varo Advance to borrow between $20 and $250 ahead of their payday, with repayment due within 30 days without interest. Borrowing up to $20 is free, while larger amounts incur a fee of $4-$15.
Varo Advance does not require tips, subscriptions, or transfer fees. Customers can ultimately access up to $500, with increased limits for favorable repayment behavior.
Side hustlers need monthly direct deposits of $800 to be eligible.
4. Cleo App
Best for: AI Guidance
Cleo functions much like Alexa or Siri for managing finances, assisting with budgeting, saving, spending tracking, credit scores, and cash advances.
Engage with Cleo similarly to other voice assistants to receive financial advice tailored to your individual situation.
Cleo Plus members pay $5.99 per month to avoid overdrafts and request cash advances of up to $250 monthly without extra fees or credit checks.
The Cleo Builder membership costs $15.99 monthly and reports timely payments to credit bureaus to improve your credit history.
Non-members can request cash advances via customer support.
Learn More at MeetCleo.com
Pros and Cons of Cash Advance Applications
Cash advances from applications like Empower are more favorable compared to payday loans or pawning assets, but they carry their own set of benefits and drawbacks.
Pros
– No interest or cash advance fees.
– No credit inquiries.
– Provides discreet support for cash shortages.
– Cheaper than payday loans that have interest rates exceeding 450%.
– Does not negatively impact credit scores.
– Helps avert overdraft fees, saving users hundreds each year.
– Aids in avoiding late payments that could influence credit scores.
Cons
– Subscription fees range from $1 to $18 for cash advances.
– Fees may apply for immediate fund access.
– Risk of becoming dependent on cash advances.
– No guarantee for approval of advance requests; terms may fluctuate.
– Limited advance amounts for individuals with poor credit; challenging to increase limits.
5. MoneyLion
Best for: High Cash Advance Limits
MoneyLion provides low-interest loans, no-interest advances, credit monitoring, budgeting assistance, and financial management tools.
MoneyLion Instacash offers cash advances for those with debit cards. It operates as a fintech company, issued by Meta Bank, National Association, Member FDIC.
To qualify:
– Download the MoneyLion app.
– Register for a free account.
– Establish a minimum direct deposit of $250 per paycheck.
– Standard holders can qualify for amounts between $500 and $700, while RoarMoney members can obtain up to $1,000.
6. EarnIn
Best for: Early Wage Access
EarnIn allows you to access your earned wages before your payday. By linking your bank accounts and tracking your work hours, you can receive an advance within three days.
There are no credit checks, fees, or subscriptions required, though voluntary tips are suggested, generally around 10%.
The app advances as much as $750 per paycheck (or up to $100 daily) based on your reported hours worked.
EarnIn generates revenue through tips or Lightning Speed transaction fees ($3.99-$4.99). The first Lightning Speed transfer is offered for free.
7. Brigit Loan App
Best for: Preventing Overdraft Charges
Brigit provides cash advances up to $250 interest-free without a credit check. It keeps track of accounts to prevent low balances and helps avoid