Cash Advance Apps That Use Plaid

19 Best Cash Advance Apps That Use Plaid Now! (2023)

โšก The article discusses cash advance apps that use Plaid, a service linking fintech apps and banks. It highlights 19 top-rated apps, including MoneyLion, Dave, Branch, Brigit, and Earnin, that offer features like instant access to funds, budgeting tools, and credit builder loans. These apps provide quick cash advances with lower fees than traditional payday loans, making them a popular choice for many users.

In today’s fast-paced digital era, instant access to funds is becoming increasingly important. For those seeking quick cash advances without the high fees of traditional payday loans, cash advance apps that use Plaid have emerged as a popular solution.

Plaid, a powerful service connecting fintech apps and banks, makes it easy for users to securely link their bank accounts with these financial apps. In this blog post, we’ll explore 19 top-rated cash advance apps that utilize Plaid, along with their key features and benefits.

๐Ÿ“ข Key Takeaways
Short on time? Here’s what you need to understand from this article:
  • Plaid is a powerful service connecting fintech apps and banks, making it easy for users to securely link their bank accounts with cash advance apps.
  • 19 top-rated cash advance apps that utilize Plaid are available, each with unique features and benefits such as instant access to funds, budgeting tools, credit builder loans, and more. Examples include MoneyLion, Dave, Branch, Brigit, and Earnin.
  • Cash advance app fees range from $1 to $9 per month, depending on the app, and repayment terms also vary. Always read the fine print before choosing an app to avoid any hidden fees or interest rates.
  • Responsible management of personal finances remains crucial when using these types of services to avoid falling into debt traps.
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Top 19 Cash Advance Apps That Use Plaid

Here are the top 19 cash advance apps that use Plaid to connect with users’ bank accounts and provide fast access to funds when needed: Albert, MoneyLion, M1 Finance, Varo, Cleo, Klover, Dave, Branch, Brigit, Earnin, Possible Finance, Vola, Empower, PayActiv, Kora, Money Mart, Check Into Cash, CashNetUSA, and ACE Cash Express.

1. Albert – Best for Instant Cash Advances Up to $250!

Albert
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Albert is a top-notch cash advance app that utilizes Plaid for seamless authentication and linking of your bank accounts, making it incredibly user-friendly. With Albert’s expertise in providing financial solutions to users like you, this app allows access to an instant cash advance of up to $250 without the need for credit checks or employment verification.

As a cash advance user utilizing Albert, imagine having more control over your finances thanks to its AI financial management assistant that helps you track spending habits better and achieve saving goals faster.

And let’s not forget how secure your data is with Plaid โ€“ offering end-to-end encryption plus strong authentication measures ensuring your personal information stays safe while enjoying the best experience possible on Albert.

2. MoneyLion

Moneylion

MoneyLion is a fantastic cash advance app that uses Plaid to securely connect with users’ bank accounts, making it easier for those in need of on-demand financial services.

What sets MoneyLion apart from competitors is its commitment to providing transparent pricing, fair repayment terms, and additional financial tools designed specifically for better money management.

For example, MoneyLion integrates its app with over 3000 other apps and more than 11,000 banks or financial institutions in the US via Plaid’s API platform. This seamless integration allows users like you and me to benefit from streamlined ACH transfers while enjoying robust security measures like encryption and authentication protocols employed by Plaid to protect our personal information.

3. M1 Finance

M1 Finance is a top-rated cash advance app that uses Plaid to enhance its services. As an investment platform, M1 Finance offers the best of both worlds by providing users with access to stocks and ETFs while also allowing them to request cash advances when needed.

Security is a major priority for users in today’s digital era, and thankfully, Plaid and M1 Finance have robust measures in place. Including end-to-end encryption (AES-256), TLS protocols, and secure information transmission, these features give us peace of mind knowing our financial data remains protected.

4. Varo

How Does Varo Work?

As a cash advance user, you may have heard of Varo, an online bank app that uses Plaid to link its users’ accounts with various financial apps. Varo offers a range of features like direct deposit, budgeting tools, and overdraft protection.

Varo is one of many online bank apps that use Plaid including Chime, Current, SoFi Money, Simple and Go2Bank. With these types of apps using Plaid for their linking functionality it makes it easier for cash advance users like you to find the right app with good repayment terms and fair interest rates.

5. Cleo

Cleo'S Free Service

Cleo is one of the top cash advance apps that use Plaid, making it easy to connect with your bank account. To qualify for a cash advance, you need to be a Cleo Plus member and pay a $5 monthly fee.

Once approved, you can receive up to $100 in an instant with no fees and free ACH transfers to your linked bank account. With Cleo, budgeting tools, personal finance coaching and credit builder loans are all part of the package for subscribers.

6. Klover

What Is Klover Cash Advance?

Klover is a cash advance app that uses Plaid to connect with your bank account. This allows you to easily apply for an instant cash advance of up to $150, which can be transferred into your bank account within minutes.

Klover’s service fees are low, with just a small fee of $1.99 per advance and a two-week repayment period.

But Klover isn’t just about providing cash advances โ€“ the app also offers budgeting tools and financial education resources to help you manage your finances better in the long run.

7. Dave

Dave is one of the top cash advance apps that uses Plaid to connect with your bank account. It offers instant cash advances of up to $500, with payback in installments available.

Many users appreciate Dave’s no-interest, no-fee model and easy-to-use interface. Plus, you can get alerts when your bank balance gets low and receive reminders about upcoming bills.

Dave does require a small monthly fee to access its features, but many users find it worth the investment for reliable financial management tools.

8. Branch

As a cash advance user, you may want to consider using Branch as your go-to cash advance app. Branch is one of the 19 apps that use Plaid for secure banking connections and offers instant cash advances up to $150 with flexible repayment terms and no interest rates or fees.

To use Branch, simply link your checking account to the app and have consistent direct deposits to be eligible.

Branch also provides budgeting tools, credit score tracking, and alerts for potential overdrafts. The app is user-friendly with easy navigation, making it accessible for those who are not tech-savvy.

Moreover, Branch has over 10 million downloads on Google Play Store with a 4.5-star rating.

9. Brigit

As a cash advance user, Brigit is an excellent option for convenient financial management. It’s among the top 19 cash advance apps that use Plaid to link bank accounts securely and provide real-time balance updates.

Brigit offers advances of up to $250 with no interest or fees, making it an affordable option for those in need.

Brigit has become popular due to its user-friendly mobile app that provides financial insights, resources, and overdraft prevention services to help users improve their financial health.

With Plaid integration, the app can track banking data across multiple accounts to prevent fraud and ensure compliance with applicable laws.

10. Earnin

I’ve tried several cash advance apps, but one that stands out is Earnin. It securely connects to your bank account using Plaid and offers up to $750 in payroll advance with no credit check required and fast in-app onboarding.

To use Earnin, you need to have a regular paycheck, be paid via direct deposit, and have a legitimate bank account. Once you’re eligible, you can easily track your work hours and earnings within the app and automatically calculate your eligible paycheck amount.

What’s more impressive about Earnin is its additional features like Balance Shield that helps users avoid overdraft fees and HealthAid that assists users in finding medical care providers when they need it most.

11. Possible Finance

I’ve tried out Possible Finance myself, a cash advance app that uses Plaid to connect to my bank account and provide me with small loans of up to $500. Their interest rates range from 150% all the way up to 200%, so make sure you’re aware of their fees before using their service.

Possible Finance is just one of the many cash advance apps that use Plaid technology to securely connect with users’ bank accounts. Other options include Albert, Cleo, MoneyLion, Klover, Dave, Branch, Brigit and more.

12. Vola

I’ve found that Vola is one of the cash advance apps that use Plaid for linking your bank account and verifying income. With Vola, you can get up to $500 in an instant without having to wait for payday.

The app provides a transparent breakdown of fees and repayment terms so you know exactly what you’re getting into.

Vola is just one of the many cash advance apps that use Plaid to provide fast and secure access to funds. Other popular options include Cleo, MoneyLion, Klover, Dave, Branch, Brigit, Earnin, Empower and FloatMe โ€“ all designed to help you meet unexpected expenses without resorting to high-interest loans or credit cards.

13. Empower

Empower is a cash advance app that uses Plaid to securely connect with users’ bank accounts. With Empower, you can receive up to $250 in an instant cash advance with no employment verification required.

The best part? There are no fees or interest charges involved! Additionally, Empower offers a free debit card with cashback and other financial tools such as budgeting tools, investment options, and credit score monitoring.

To qualify for a cash advance from Empower, all you need is a Social Security number and a checking account with regular direct deposits. Even self-employed or gig workers who may not have traditional employment history can access this feature.

However, it’s important to note that if payments are missed on their new lending product called Empower Thrive which has a limit of up to $1,000 reports to credit bureaus and comes with an APR rate of 35.99%.

14. PayActiv

I have found that PayActiv is associated with the top cash advance apps that use Plaid to authenticate and connect bank accounts. Their app allows users to access their earned wages before payday, without having to pay for any interest or fees.

In addition, they offer other financial wellness benefits such as budgeting tools, saving goals, and financial coaching. I know personally how helpful this can be for those living paycheck-to-paycheck, as it provides a safety net during emergencies and helps avoid costly overdraft fees.

15. Kora

Kora is one of the top 19 cash advance apps that use Plaid. This app offers users quick and easy access to funds without worrying about hidden fees and high-interest rates.

Kora’s integration with Plaid allows for a secure transmission of necessary banking data, making it easier for users to verify their eligibility for an advance and receive their requested amount promptly.

Additionally, Kora offers advanced financial management tools such as AutoSAVE, DirectSAVE, and RoundupSAVE to help users save money effectively.

16. Money Mart

Money Mart is one of the top 19 cash advance apps that use Plaid to manage financial data. If you’re in need of quick funds, a cash advance from Money Mart may be an extremely helpful option.

With Plaid integration, Money Mart ensures your sensitive information is secure while complying with all applicable laws. In addition to using Plaid for security purposes, other benefits of using Money Mart include fast access to funds and transparent pricing.

It’s important to note that while there are no fees for individual loans with most cash advance apps, including Money Mart, there is typically a monthly fee for using their service.

17. Check Into Cash

I’m sure you’ve heard of Check Into Cash, one of the top 19 cash advance apps that use Plaid technology. This app allows users to quickly and easily request a cash advance on their paycheck without having to undergo a credit check or pay high fees.

With Check Into Cash, you can borrow up to $1,500 and receive funds in your bank account as soon as the next business day. Repayment terms vary depending on the amount borrowed and state regulations but typically range from one week to several months.

18. CashNetUSA

As a cash advance user, you may be interested in CashNetUSA, one of the top 19 cash advance apps that use Plaid for financial data management. With over a decade of experience, CashNetUSA offers payday loans, installment loans and lines of credit to those in need of quick funds ranging from $100 to $1,800.

Their partnership with Plaid ensures the secure transfer and authentication of sensitive banking data while simplifying the process of linking your bank account through their app, providing a seamless experience for customers.

However, it’s important to note that CashNetUSA’s fees and interest rates vary depending on your loan amount and state regulations which may require credit checks before accepting applications.

19. ACE Cash Express

ACE Cash Express is a cash advance app that uses Plaid for seamless financial integration. They offer fast cash advances and payday loans with no credit check required, making it easier for people in need to access funds quickly.

However, some users have criticized ACE Cash Express’s high-interest rates and lending practices, leading to legal action against them. It’s essential always to read and understand the terms and conditions of any loan or advance before accepting it.

How Cash Advance Apps With Plaid Work

How Cash Advance Apps With Plaid Work

Cash advance apps with Plaid work by using the service to connect to a user’s bank account, allowing them to request funds and receive them directly into their linked account.

Requesting A Cash Advance

To request a cash advance from a Plaid-connected app, simply follow these steps:

  1. Download and install the cash advance app on your mobile device.
  2. Link your US bank account to the app through Plaid’s secure platform.
  3. Verify your identity by providing personal information and uploading a photo of your ID if required.
  4. Check for eligibility requirements such as proof of address, phone number, employment status, and deposits.
  5. Enter the amount you wish to borrow within the limits set by the app based on your financial activity and history.
  6. Review the fees and interest rates associated with the cash advance before submitting your application.
  7. Wait for a decision from the app regarding approval or denial of your request, which can take minutes or up to 24 hours depending on the app’s policies.
  8. If approved, receive funds either directly into your linked bank account or through other options offered by the app such as debit cards or pick-up locations in some cases.

It is important to remember that each cash advance app may have different requesting procedures and requirements so it is best to review them carefully before proceeding with any requests.

Receiving Funds

As a cash advance user, it’s important to know what to expect when receiving funds from cash advance apps that use Plaid. Here’s what you need to know:

  1. Once you are approved for a cash advance, the funds will usually be deposited directly into your linked bank account.
  2. Some apps may also offer options for pickup at partner locations or through physical checks mailed to your address.
  3. The timing of receipt of funds can vary depending on the app and your bank, but most apps provide access to funds within one business day of approval.
  4. You can keep track of your available balance and repayment schedule through the app’s dashboard or notifications.
  5. Repayment amounts and due dates are typically calculated based on your pay period or agreed – upon terms with the app provider.

Remember that cash advance apps can be a convenient option for accessing quick funds, but it’s important to be aware of fees, interest rates, and eligibility criteria before using them. Always read the fine print and make sure you understand the terms and conditions before accepting any offers.

Repaying The Advance

Repaying the advance can be done through various methods that suit your financial situation. Here are some of the ways you can repay your cash advance:

  1. Automatic Withdrawal: Most cash advance apps will automatically withdraw the amount borrowed plus fees from your linked bank account on your next payday or based on the pay cycle detected by the app.
  2. One-time Payment: You can also choose to make a one-time payment for the amount owed directly from your linked bank account.
  3. Installment Plan: Some cash advance apps offer installment plans that allow you to pay off the borrowed amount over time with fixed repayment terms.
  4. Roll-over: While not recommended, some apps may offer a roll-over option that allows you to extend your repayment deadline for an additional fee.
  5. Communication is Key: If you are unable to repay the entire amount on time, it’s important to communicate with the lender as soon as possible and work out alternative arrangements to avoid late fees or damaging your credit score.

Remember, borrowing money comes with responsibilities and it’s essential to understand repayment terms before accepting any advances. Make sure you have enough funds in your account or have a plan in place to repay what you owe within the given timeframe.

Advantages Of Cash Advance Apps With Plaid

Advantages Of Cash Advance Apps With Plaid

Cash advance apps with Plaid offer fast access to funds, lower fees than traditional payday loans, transparent pricing, and easy repayment terms.

Fast Access To Funds

Getting access to funds quickly is one of the biggest advantages of using cash advance apps that use Plaid. Since these apps have linked your bank account already, you can apply for a cash advance with just a few taps on your phone and get approved within minutes.

Once approved, the money will be deposited directly into your account, usually within hours or even minutes in some cases. This means you don’t have to wait in long lines or fill out any paperwork as you would with traditional loans from banks.

Lower Fees Than Traditional Payday Loans

As a cash advance user, it’s important to keep an eye on fees and interest rates when looking for financial assistance. Fortunately, cash advance apps that use Plaid offer lower fees than traditional payday loans.

This means you can get the funds you need without breaking the bank in terms of fees and high-interest rates. For example, Earnin is a popular cash advance app that integrates with Plaid and only charges users what they feel is fair based on their usage and ability to pay back the advance.

Other apps like Brigit charge a monthly subscription fee but still offer lower fees than traditional payday loan options.

Moreover, by using Plaid as part of their service offerings, these cash advance apps have access to your banking data in real-time which means they can better assess your eligibility for loans at reasonable interest rates compared with credit cards or personal loan options available from banks or other financial institutions where APRs could be as high as 36%.

Transparent Pricing

One of the most significant advantages of using cash advance apps that use Plaid is their transparent pricing. Unlike traditional payday loans, which can charge exorbitant interest rates and fees, cash advance apps with Plaid have clear and upfront costs listed in their terms and conditions.

These costs typically include a one-time fee or subscription fee, depending on the app’s structure.

For example, Dave charges a $1 monthly membership fee to access its features like paycheck advances and no-interest overdraft protection. Brigit charges a recurring $9.99 per month for its premium service that includes advanced budgeting tools and automatic saving features based on your spending habits.

Things To Consider Before Using A Cash Advance App With Plaid

Before using a cash advance app with Plaid, it’s important to consider factors such as eligibility requirements, fees and interest rates, and repayment terms to ensure that the app aligns with your financial needs and goals.

Eligibility Requirements

To use cash advance apps with Plaid, you must meet certain eligibility criteria. Most apps require that users have a US bank account and receive regular income to qualify for an advance.

Other requirements may include proof of address, phone number, and consistent employment history with deposits into the linked checking account. For example, Earnin requires a user to be employed and working at their current job for at least three months, while Brigit asks for a minimum credit score of 650 and a monthly income of $1,500 after taxes.

The exact eligibility requirements vary between different cash advance apps so it’s important to check each app’s specific qualifications before signing up.

Fees And Interest Rates

As a cash advance user, it’s essential to understand the fees and interest rates associated with these apps. Fortunately, most cash advance apps that use Plaid do not charge interest or fees for their services.

Additionally, users should be aware of repayment terms as they vary across different apps. Some offer flexible repayment schedules while others require immediate payment upon receipt of your next paycheck.

While utilizing a cash advance app can provide quick access to funds in case of emergencies, remember that building an emergency fund is always the best option when possible.

Repayment Terms

As a cash advance user, it is important to understand the terms of repayment before using an app that utilizes Plaid. Many apps automatically deduct the cash advance amount from your bank account on your next payday or based on your pay cycle detected by the app.

It’s crucial to ensure that you have sufficient funds in your bank account on the specified date to prevent overdraft fees and additional charges.

Additionally, different apps have varying repayment limits and fees. For example, subscription fees apply to some cash advance apps that utilize Plaid, ranging from $1 to $8 per month.

Moreover, eligibility criteria for these apps may include having a US bank account with consistent employment and deposits as well as providing proof of address.

Alternatives To Cash Advance Apps With Plaid

Alternatives To Cash Advance Apps With Plaid

Other alternatives to cash advance apps with Plaid include employer-sponsored payday advance apps and personal loans from traditional financial institutions.

Employer-sponsored Payday Advance Apps

Employer-sponsored payday advance apps are a great alternative to expensive payday loans. These apps link to Plaid, a platform that connects fintech apps with banks. This allows the app to access your bank account information and determine how much you’re eligible for in terms of payroll advances.

These types of apps can help employees cover unexpected expenses or bills before their next paycheck arrives.

Furthermore, employer-sponsored payday advance apps can be more affordable than traditional payday loans since they often charge lower fees or even offer interest-free advances.

However, it is important to note that these types of cash advance options may only be available through certain employers and may have limitations such as requiring users to sign up before they need an advance, linking directly to a checking account, and using Plaid as the connection between the app and your bank account.

Personal Loans

If you need more funds than what a cash advance app can offer, consider applying for a personal loan. Personal loans are available to people with varying credit scores and financial backgrounds, and they typically have lower interest rates compared to payday loans.

Avant is one example of an online lender that offers personal loans up to $35,000 with competitive APRs ranging from 9.95% to 35.99%. However, keep in mind that the approval process may take longer than cash advance apps, as lenders will assess your creditworthiness and income before approving your loan application.

Additionally, unlike cash advances where repayment terms are usually due on your next payday or pay cycle, personal loans typically give you several months or years to repay the borrowed amount in fixed installments.

Understanding Plaid

Plaid is a secure API platform that connects financial apps with banks, but what makes it so popular among cash advance apps? Discover the benefits of Plaid and how it works in our upcoming section.

Overview Of Plaid

Plaid is a powerful platform that enables fintech apps to securely connect with banks. With over 11,000 financial institutions and 3000+ apps using Plaid, it has become a crucial tool in the finance industry.

Several popular cash advance apps such as Earnin, Dave, and Cleo rely on Plaid to provide their services. This makes accessing funds much faster than traditional payday loans while also offering lower fees and transparent pricing.

Eligibility criteria vary depending on the app but typically require US bank accounts with consistent deposits and employment history.

Benefits Of Using Plaid

Using Plaid to connect your bank account with a cash advance app can bring several benefits. Firstly, Plaid offers a secure way of sharing information between financial institutions and third-party apps using top-notch encryption and authentication standards like AES-256 and TLS.

Secondly, Plaid makes it easier for you to get quick access to funds when you need them most, without having to fill out lengthy forms or go through credit checks.

Lastly, by using Plaid-enabled cash advance apps like Cleo or MoneyLion regularly, you can build up a positive payment history that may improve your credit score over time.

Security And Privacy Considerations

I understand that security and privacy are top concerns when it comes to using cash advance apps. As a user, you want your personal and financial information to be protected at all times.

Plaid uses end-to-end encryption to secure any sensitive information being transmitted between you and the app. This means that hackers cannot intercept or access your data during transmission.

When it comes to privacy, Plaid has a policy portal that allows US users to manage their connected finance apps. You can control what kind of information each app has access to through this portal.

Overall, by using cash advance apps with Plaid integration like Dave or Albert (among others), you can rest assured knowing that your security and privacy are taken seriously by both the app developers and Plaid itself.

Our Takeaway

Cash advance apps that use Plaid offer a convenient way for users to access funds quickly and transparently. With Plaid’s secure data transmission, linking bank accounts with various financial apps has never been easier.

While there are alternatives available, the advantages of using cash advance apps with Plaid are hard to ignore. However, before choosing an app, it’s important to consider eligibility criteria, fees, and interest rates, as well as repayment terms.

Cash Advance Apps That Use Plaid (FAQs)

What are Cash Advance Apps that Use Plaid?

Cash Advance Apps that Use Plaid are financial apps that work with Plaid, a service that facilitates transfer of financial data between your platform and your financial institution. These apps integrate with Plaid to provide you with cash advance and loan options, without necessarily using Plaid as a middleman.

What is Plaid? Is it safe?

Plaid is a popular service that is used by a number of apps to facilitate financial transactions. It is generally safe to use Plaid, as they take measures to ensure the privacy and security of their users. Plaid faced a class action suit in 2020 regarding its privacy policy, but has since worked to update their policies to provide better transparency for their users.

Which apps work with Plaid?

There are a number of loan apps, shopping apps, and other money transfer apps that work with Plaid. Some examples include Cash App, Venmo, and CashMaster. You can check with individual apps to see if they are compatible with Plaid and if they use the service for their cash advance options.

Do all cash advance apps use Plaid?

No, not all cash advance apps use Plaid. While Plaid is a service that facilitates transfer of financial data and is commonly used by financial institutions, some cash advance apps may have their own system for facilitating transactions and may not necessarily use Plaid.

What are some use cases for cash advance apps that use Plaid?

Cash advance apps that use Plaid can be useful in situations where you need to pay for unexpected expenses or bills before your next paycheck. They can also be used for making purchases or paying off debts when you don’t have enough funds in your account.

How do I open an account with Plaid?

As an individual user, you do not necessarily need to open an account with Plaid directly. Instead, you can use cash advance apps and other financial apps that work with Plaid to facilitate financial transactions and transfers.

Can I get a cash advance without using Plaid?

Yes, there are cash advance apps that don’t use Plaid and have their own system for facilitating transactions. However, cash advance apps that use Plaid may also provide you with additional loan and cash advance options, so it is worth checking with individual apps to see which option best suits your needs.

What is Plaid Link?

Plaid Link is a feature of Plaid that allows users to connect their bank accounts and financial information to financial apps and platforms in a secure manner. It is commonly used by financial apps and other platforms that work with Plaid to facilitate transactions and the transfer of financial data.

Can my employer use Plaid for payment transfers?

It is possible for your employer to use Plaid as a payment transfer system, but this would depend on your individual employer and their policies on payment methods. It is worth checking with your employer to see what payment options they offer.

Where can I find a list of cash advance apps that use Plaid?

While there is no definitive list of all cash advance apps that use Plaid, you can check with individual apps to see if they work with Plaid for cash advance and loan options.

James Allen, a finance enthusiast with 10+ years of experience, founded Billpin in 2020 to demystify personal finance. Inspired by his mother’s frugality and his own financial expertise, James aims to transform people’s relationship with money. Through this site, he provides easy-to-understand guides, empowering individuals to manage their finances effectively and take control of their financial future.


Content Disclaimer: Opinions expressed here are the authors alone, not those of any companies mentioned, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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