Top 10 Cash Advance Apps Like MoneyLion: Get Instant Cash Advance App Now



Did you run out of cash and you have monthly bills yet to pay? Escape from late fees and ask to borrow money from people. Apps Like MoneyLion provide you with direct deposit for a particular pay period so that you can pay your bills. You need to have an active bank account to get an instant cash advance from a cash advance app like MoneyLion.

It is a successful business model that attracted many stakeholders. Now they also want to create mobile apps like MoneyLion. our custom app development company also getting many projects for the same.

However, there are already many apps like MoneyLion in the market. Most cash advance apps have a similar business model and follow a process for direct deposits.

Let’s scroll down and know everything about the paid early or quick cash transfer apps. So that you can choose the best one to borrow money, and also develop an advanced app like MoneyLion for business.

Getting a robust and secure app is not expensive anymore!

What Is Instant Cash Advance App?

As the name implies, this type of app provides an instant cash advance, so that you can pay your bills on time. A cash advance allows users to deposit money in an account in advance of payday.

They are also called the line instant cash advance apps. These apps provide interest-free cash advances. However, some apps levy a small fee or charge You can get advances of $100 and more. It provides you with small cash advances from your next paycheck before you get it.

These apps are effective substitutes for expensive credit cards. According to a survey around 33% of American use cash advance apps like MoneyLion. According to recent Pew research, more than 2.5% of adults reported using payday loans in the past five years.

Who Uses Apps to Get Cash Advances?

Vantage market research the Payday loans market will surpass 42.6 billion at 4.1% CAGR growth by the year 2028. It shows that many people have a need for money in advance. Certain demographics in America use payday loans more than others. Have a look at the type of people in the USA who need cash advances.

  1. Who are underbanked and don’t have access to the traditional bank account
  2. Some undereducated individuals, especially black or Hispanic descent or recent immigrants.
  3. Young adults who took student loans at some time
  4. Lower-income individuals
  5. Divorced and separated parents

If you are also planning to build a cash advance app, the above information is important because this way, you can find the target audience for your apps like MoneyLion. Also, check out the new app idea to make money and grow your business.

Brief Introduction: MineyLion

The popular consumer review website TrustPilot gives 4.7 stars to the MoneyLion cash advance app. Well, MoneyLion is a private fintech company. It is one of the popular cash advance apps that lend money. It not only provides direct deposit but also financial counseling and investment services.

The Payday loan app MoneyLion launched in 2013. Its target market is 70% of US citizens. MoneyLion makes money through its loan procedure, lead generation from users on its site, and monthly subscription fee. That’s why it is one of the best fintech apps.

The financial services app MoneyLion charges a minimal monthly fee of $1. You are protected from other hidden fees. The Dave app is similar to MoneyLion. Dave is one of the best cash advance apps like MoneyLion.

If I talk about the cash advance limit, you can get up to $500 and extra cash and earn cash back. Know how to develop a Dave app to get the best financial management app.

How to Use Moneylion App?

People use many cash advance apps to pay bills for utilities, car payments, credit card payments, rent, mortgage payments, and food. If you also want to know how to use the popular cash advance app MoneyLion, have good financial health.

Most cash advance apps work on the same concept. There are some eligibility requirements to check the financial well-being of the user. It is crucial to decide whether he can borrow money from Payday loan apps or not.

MoneyLion looks for patterns and spending habits in your deposit to ensure you are eligible or not. For this, it checks the below points.

  1. Have an active bank account
  2. The account has never been negative
  3. The account should be at least a few months older
  4. It receives a regular revenue deposit

Steps to use MoneyLion for instant cash

  1. Download the MoneyLion app
  2. Fund your MoneyLion checking account
  3. Start investing in your personalized portfolio
  4. Explore the financial heartbeat
  5. unlock 0% APR Instacash
  6. Spot yourself some cash at any time

Have a fintech mobile app idea_ Choose developers who ensure the success of the app3

Top 10 Cash Advance Apps Like MoneyLion

Do you want to pay the bill on time but your salary comes late? Do you face problems maintaining the cash flow? In this situation, loan apps can help you. A personal finance app with cash advance features can save you from paying late fees.

There are different types of PayDay loan apps. Check out the list below.

  1. Chime
  2. Dave
  3. Brigit
  4. Affirm
  5. Klover
  6. Rufilo
  7. AfterPay
  8. FlexWage
  9. Pocketly
  10. Cashe

1. Chime:

Chime

Chime was launched on April 15, 2014, with the mission of creating financial piece of mind. You can receive direct deposit up to two days early using a payday loan alternative like Chime.

It helps you send payments on time and maintain your credit score. Likewise, qualified members can overdraw their accounts up to $20 on debit card purchases. You also get overdraft protection.

Features-

  • No monthly fees
  • No overdraft fees up to $200
  • Competitive savings APY
  • Receive direct deposits up to two days early
  • Access to more than 60,000 ATMs
  • Build credit with no credit check and no fees

2. Dave:

Dave Logo

Dave offers cash advances quickly after checking the eligibility requirements of the user. It has around 5 million active users who leverage its services to get an instant cash advance.

You have to open a checking account and pay a membership fee to get direct deposits. If you can’t save money to pay bills and installments, Dave can be a savior. It lends money larger than other competitors.

Features-

  • Repayment
  • Spending account
  • Set date
  • Side hustle
  • Budgeting
  • Cash management account
  • Maximum cash advance
  • Credit building

3. Brigit:

Brigit

Brigit is one of the popular apps like MoneyLion. However, Brigit’s monthly fee is worth paying if you use the app’s budgeting tools and credit-building features.

Although, its cash advances are smaller than other competitors, apps like Brigit offers repayment flexibility. Moreover, it tries not to cause overdraft fees when it takes repayment.

Features-

  • Low fast funding fee
  • No request for tips
  • Doesn’t cause overdraft fees
  • Budgeting and credit building
  • Charges monthly subscription fees

4. Affirm:

Affirm_logo

You can use Affirm to buy goods without worrying about late fees, hidden costs, and fines. The app has intuitive designs for the best customer experience. This PayDay loan app offers advances up to $250. It is one of the cash advance limits.

The app is more than a loan app. It provides overdraft protection. So, you can buy now and pay later, without any fees. It’s a smarter way to pay over time without impacting the credit score.

Features-

  • Interest-free cash advances
  • Simple app
  • Competitive APY
  • FDIC insured
  • Shop online and in store

5. Klover:

Klover

Klover is another app in the list of apps like MoneyLion. It allows you to access up to $200. No matter if your payday is two weeks away. Klover charges zero interest and late fees.

Use its cash advance feature to get instant money before your next paycheck. Cash advance app like Klover lets you earn points for things like surveys and watching ads.

Google Pay and App Store, both platforms have the Klover app. Although the app doesn’t charge fees or interest on advances, you will have to pay for expedited services and additional features.

Features-

  • Cash advances with no interest
  • Advances before payday
  • No credit check
  • Fees for expedited cash advances
  • Paycheck verification required
  • Financial dashboard

6. Rufilo:

Rufilo

Rufilo provides one of the most accessible and convenient loans to people in India. It offers up to $2500 instant loans. There are no fees to get the instant cash and the process is also quick.

It is RGI registered NBFC. People use it for instant credit lines. You can get loans for small businesses and stores from Rufilo in India.

Features-

  • Timely repayment perks
  • Multiple payment options
  • Professional customer support
  • Instant approval

7. AfterPay:

AfterPay

You can buy at the moment and pay later with the help of the AfterPay app. Bill pay has become easy with apps like AfterPay. You can manage your budget with this app. It allows you to shop for thousands of brands, explore and buy them.

You can choose to pay over 6 or 12 months or in four interest-free payments. Likewise, you don’t have to pay any fees when you pay on time. The app sends reminders to cop with late payments and brings you back on track.

Features-

  • Zero interest
  • Allows four equal installments after buying
  • Late fee for missed payments
  • Include access to the reward program
  • No option to build credit

8. FlexWage:

FlexWage-svg

You can access your earned wages whenever you want with the help of getting cash advances from this app. It ensures pay gets delivered on time. It reinforces the value of the existing financial wellness program.

The app interfaces with the HRMS. It helps the app to offer employees instant access to earned wages between pay periods. Well, there is no interest and payback period.

It is an effective app for employees who can’t accept deposits. However, you will have to pay $5 for an on-demand Wage transfer.

Features-

  • Reloadable payroll debit card
  • View balance details
  • Perform transfers
  • View transfer history
  • Less costly than other payday loans

9. Pocketly:

Pocketly

Pocketly is a credit-building app like MoneyLion. The app was built for young India. It offers loans from 600-10,000 rupees. The intuitive interface allows easy two-click sign-up, minimum KYC, and timely repayment perks.

Young Indians can get secure and fast personal loans. The app has been downloaded around one million times and it has 1.5 lakh users. Indian youth can come over financial crunch by getting the direct deposit from Pocketly.

Features-

  • Effective interface for better customer experience
  • No physical documents are required
  • No hidden fees
  • Pay for repayments in installments

10. Cashe:

Cashe

Cashe is the go-to personal loan app. But this is for salaried people. You can travel whenever you want by getting money from Cashe and paying it later. It offers an instant personal loan of up to 4 lakhs. Loans are disbursed from 3 months to 1.5 years as per your need.

The app ensures the cash is made available whenever and wherever it needs. It provides travel, medical, consumer, mobile loans, and more.

Features-

  • 12,000 rupees is the Minimum salary eligibility
  • Less paperwork than the traditional bank loan
  • Quick disbursal of loan
  • No asset showcase is required
  • Technologically developed and user-friendly interface

So, MoneyLion is not only a cash advance app, the market is now full of many other cash advance apps. As long as people need money to pay their bills, these apps will have a promising future. You can also develop an app like MoneyLion and earn money through this business model.

You can also check out the video

Final Thought

This is the end of the blog. If you want to know more about loan apps, how to develop them, which technologies are used to develop apps like MoneyLion, and more, Technource can help you. It has experienced developers who can handle any project with ease.

As you scrolled down the apps while reading, you must have understood which apps are good and which ones are average. You can include advanced features in your app with the help of dedicated developers of technource.

Want a cash app like MoneyLion cta1

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Yogesh Kumar works at a top WordPress development company, Technource as a Digital Marketing Manager. He is a passionate individual who has in-depth knowledge of SEO and uses natural search expertise to attain and sustain maximum marketing share for organic search across the industry. With his passion for writing, he delivers many informative articles and blogs on software development, that help many people to improve their knowledge of emerging technologies, and website & app development. He is featured on Hackernoon, Dzone, Newsbreak, Enlear Academy, Articlesfactory, and much more websites. He likes to cook in his free time and discover new recipes.

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