5 Best Paycheck Advance Apps With No Subscription Fees

Chime isn’t technically a paycheck advance app — it’s a fintech company and mobile banking service that offers a paycheck advance benefit called “MyPay.” You can get $20 to $500 of your paycheck early. Free advances take 24 hours or less, which is among the quickest on the market. You could also pay a flat $2.00 fee to get your money instantly.

You have to get your paycheck directly deposited into a Chime account to qualify. These accounts aren’t actually through Chime but through FDIC-insured Bancorp Bank or Stride Bank.

Still, switching to Chime could be worth it. Accounts get free overdraft protection up to $200, and there are no minimum balances to meet.

But if you aren’t interested in changing banks, Chime won’t make sense for you.

To open a Chime account, you must:

• Be at least 18 years old
• Be a U.S. citizen or permanent resident
• Have a Social Security number

To qualify for Chime MyPay, you must set up an eligible direct deposit into a Chime account.

MyPay is not available in Colorado, Connecticut, Hawaii, Illinois, Massachusetts, Maryland, Maine, Montana, New Jersey, New Mexico, Nevada, South Dakota, Vermont, Washington, Wisconsin or West Virginia.

DailyPay is an “earned wage access” (EWA) or “on demand pay” company. Rather than fronting you the money like most paycheck advance apps, DailyPay gives access to what you’ve already earned.

The app keeps track of your working hours and displays what income you’ve earned so far this pay period. These are the funds you can access early. DailyPay then deducts your advance from your paycheck.

The EWA model is usually better than a standard paycheck advance app. You don’t need to worry about late fees, since your advances come out of your check instead of being withdrawn from your bank account on payday.

However, if your employer doesn’t offer DailyPay, you can’t use it.

There are only two requirements to use DailyPay:

• You need to work for an employer that partners with DailyPay.
• You must receive your paycheck by direct deposit to a bank account, prepaid debit card or payroll card.

How much you qualify for depends on how much you earn, your spending habits and other factors, but qualified EarnIn applicants get $85 on average for their first advance. If you use the app responsibly over time, you could get an advance of $750 to $1,000 per pay period.

You also don’t have to get your paycheck sent to an EarnIn account to qualify like you do with other apps like Chime.

Like DailyPay, EarnIn allows you to access funds you’ve already earned before your payday. But unlike DailyPay, EarnIn deducts your advance from your checking account rather than your paycheck.

EarnIn’s fees for expedited advances (called “Lightning Speed”) are rather low. However, the app also accepts optional tips. These extra expenses can rack up if you aren’t careful.

Only workers who make at least $320 per pay period can use EarnIn. You must also:

• Be a U.S. resident and at least 18 years old
• Have a checking account
• Work at a fixed location or have an employer-provided email address
• Have a valid cell phone number
• Have a consistent pay schedule

MoneyLion is a fintech company that offers loans, credit cards and paycheck advances (called “Instacash”). Paycheck advances can be as high as $500 for qualified users — and if you’re willing to pay a fee, you could get your advance instantly.

For those looking to make a little extra money, MoneyLion also has a program to get paid for playing mobile games. When you play, you can earn MoneyLion Rewards points, and each 100 points equals $1.

But there is a catch: You don’t need a RoarMoney account to get a paycheck advance, but you do need one (or a Managed Investing account) to redeem the MoneyLion Rewards points you earn by playing games. Luckily, RoarMoney doesn’t cost a monthly fee, and its accounts are held through FDIC-insured Pathward.

To qualify for Instacash, you must:

• Be at least 18 years old
• Be a permanent resident in the U.S.
• Have an active checking account that’s at least two months old and not overdrawn
• Get paid on a regular basis

Paycheck advance app payments are almost always due the next time you get paid, but with Varo Bank, you can have up to 30 days to pay, regardless of your payday. This extra time could be a game changer if you’re living paycheck to paycheck.

Like Chime, Varo won’t make sense if you want to stick with your current bank. Varo Bank only gives paycheck advances to current accountholders.

Also, every advance comes with a fee, which can add up, especially on larger loans. But every advance is also instant upon approval.

To qualify for a Varo Bank account, you must:

• Be a U.S. citizen or permanent resident who lives in the U.S.
• Be at least 18 years old
• Apply on your own (no joint accounts allowed)