Nowadays, paycheck advance apps like Brigit are very popular. Several other apps offer comparable functions but with relatively different features and terms. This post will discuss the five best paycheck advance apps like Brigit. While most of them offer small payday cash advances, some offer bigger personal loans if your financial needs are more substantial.
Earnin is a little different from Brigit, but the goal is to lend you money when your account balance is low. You’ll receive your paycheck a few days early as an alternative to taking a loan. With Earnin, if you need money urgently, you don’t have to take out a loan because you’ll be using your paycheck before payday.
Earnin has a $100 per pay period cap. When you get paid, this money is withheld from your next paycheck. The nicest feature of Earnin is that you don’t have to spend additional money to get the money. It is entirely up to you whether or not you wish to provide them with a tip.
The alarm call is another feature shared by both Brigit and Earnin. If your bank balance falls below $400, Earnin will send you an alert message, allowing you to request money in advance. Earnin is compatible with many smart devices, including Android and iOS smartphones and tablets. The app is compatible with iOS 11.0 or later and Android 7.0 or later.
Dave is a store that lets you purchase items using your salary before your payday. Dave has a $100 wage cap per pay period. When you get your next paycheck, this money is withheld from it. Dave and Earnin have a significant distinction that could score this company a few additional points despite their similarities. Dave is a LevelCredit official partner. In other words, this company will strive to raise your credit score on your behalf by reporting information on your credit history to credit bureaus.
Earnin, on the other hand, is a free service, whereas Dave has a monthly fee of $1. One dollar a month isn’t much in the grand scheme of things compared to the long-term benefits of a better credit score.
The Dave app is available for Android and iOS devices.
If you’re looking for alternatives to Brigit since it’s not available where you are, then look no further. As with Brigit, Branch also provides loans with interest. If you’re looking for paycheck advance services beyond the United States, Branch is your best alternative. Brach is an international brand available in the US, Africa, and the Middle East.
The loan term is 48 weeks, and the interest is compounded every month. The terms and conditions indicated in the app will determine whether or not the loan is granted.
Branch is only available on Android as a mobile app. This company doesn’t have an iOS app or desktop app.
CashNetUSA is one of the most popular programs like Brigit, particularly in the United States. It provides a loan with a specific repayment schedule. The amount of the monthly payment varies per state. Payday loans and installment loans are available from this company. Once you receive your paycheck, your installment money will be automatically withdrawn from your account. But there are exceptions to this rule in several states.
Because it does not care about your credit score, CashNetUSA is one of the most well-known payday lenders in the United States. In other words, even if your credit score is poor, you will still get the loan. CashNetUSA, on the other hand, offers nothing to help you raise your credit score because it does not notify the bank about your payment.
The app is available for iOS and Android.
PayActiv is an option if you desire complete control over your funds. You may access your Visa debit card and your previously earned funds right here. You’ll be able to make payments in various ways using this card. You can also save money by creating and planning your budget in a single application.
It is up to you when and how to make use of PayActiv. After downloading the software, you can immediately begin utilizing its features. Once you gain access to the funds, they will be deducted from your next salary. As a result, you will be able to access your earnings even if they haven’t been formally deposited into your bank account. As a reminder, PayActiv doesn’t charge interest because it is not a loan from your bank. You can plan and save using PayActiv’s internal tools to keep your finances in check.
PayActiv is available on Desktop, Android, and iOS.
Many financial apps like Brigit offer cash advances and small personal loans to help individuals get by in an emergency. Some of the paycheck advance apps on this list also provide access to financial tools, banking, stock trading, investment, and other resources. Kindly consider the pros and cons and each app’s practicality before settling on one.