Where To Get a Cash Advance: 8 Options and What They Cost

You can get a cash advance from online cash advance apps like MoneyLion Instacash^®, storefront payday lenders, credit card issuers through an ATM or bank teller, or from federal credit unions that offer payday alternative loans.

Each option has different fees, repayment terms and delivery schedules, so the right choice depends on how quickly you'll need the funds and how much you're willing to pay.

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Where Can You Get a Cash Advance?

Here's a list of options based on cost, funding speed and who it's for.

How To Choose the Right Option for You

Cost

Cost is likely the biggest factor for many. Using a cash advance app or perhaps an employer option may be zero cost, though a payday loan can have APRs from 300% to 600% — a hefty price tag. It's good to know how much you'll be paying before you choose.

Speed

How quickly will you need the cash? You can get money instantly with a cash advance at an ATM or if the cash advance app you're using has instant transfer available. A standard app transfer or a credit union loan might take a bit longer — between one to five business days.

Eligibility

Your cash advance option may require you to have a checking account or an existing membership account if you go with a credit union. An employer program may or may not be an option either, if your company doesn't offer it.

Rule of thumb: How much cash advance should you take out? It depends on how quickly you can repay. Being able to repay $50 before your next paycheck is vastly different from covering $500, so only borrow what you can repay.

How Your Cash Advance Offer Is Determined

Most cash advance apps set your advance amount based on:

• Your income

• Spending patterns

• Account history

Those items are given more weight than your credit score. Cash advance apps review details such as how often you're paid, your typical account balance and whether you have recurring deposits to get an estimate of how much you can reliably borrow and repay.

This means your available amount can change from one pay period to the next as your finances shift. Checking your eligibility or advance amount with most apps is considered a soft credit check, not a hard credit inquiry, so it won't affect your credit score.

Storefront lenders and credit card issuers work differently — a credit card cash advance limit is tied to your existing credit line, while storefront lenders may ask for proof of income and a pay stub. Whichever option you use, remember that the amount offered isn't guaranteed and can vary based on your financial situation at the time you apply.

8 Online Cash Advance Options

If you're comparing cash advance options, the table below compares MoneyLion Instacash and other cash advance apps' features, funding speed, fees and other key considerations. Several have relatively low fees and offer the convenience of all-online access.

1. MoneyLion's Instacash^®

This is a no-interest cash advance built for moments when payday feels too far away. You can get an advance against your next paycheck without a credit check or monthly fee.

• Advance amount: Up to $500 per pay period, with eligible MoneyLion Spend members able to access up to $1,000

• Cost: $0 interest and no mandatory fees, with an optional Turbo delivery fee for instant funding

• Funding time: Standard delivery between one to five business days, or minutes with Turbo to a MoneyLion Spend account

• Credit check: None

• Repayment: Automatically repaid from your linked bank account on your next pay date.

2. Advance America 

Advance America can offer same-day funding through its cash advance program. It has over 700 locations nationwide if you prefer in-person, along with a fully online application. You’ll need to repay the loan in two to four weeks, but it’s a quick process if you need funds fast.  

Advance amount: Depends on the state. Payday loans are illegal in some states.

Fees: Typically around $15 for every $100 borrowed, but the fee varies according to state regulations.

3. Varo 

Varo Bank, N.A. is an FDIC-insured mobile banking platform and app, and Varo Advance is its native cash advance feature. Requested cash advance funds are deposited directly into your Varo account, and you’ll have 30 days to pay back the cash advance. While you can only borrow up to $250 the first day you join, you may be eligible for an advance limit up to $700.

Advance amount: $20 to $250 on the first day and up to $700 if you meet the necessary criteria.

Fees: Fees range from $1.60 to $56 for advances up to $700, if you have at least $800 in deposits for the month. Otherwise, fees range from $4 to $100, and apply only to advances up to $500.

4.  Dave

Dave is a digital banking platform, and members can borrow up to $500 if eligible without any interest or late fees. The funding will be deposited directly into your Dave checking account, so funding can be quick. Compared to traditional payday loans, this may offer financial flexibility without high fees. 

Advance amount: Between $25 and $500

Fees: No interest or late fees. Dave charges 5% of the ExtraCash amount or $5, whichever is greater. The monthly membership fee is up to $5 and express transfers have a 1.5% fee.

5. FloatMe 

FloatMe is a solid option if you only need up to $50 for your first advance. These are interest-free cash advances that can help if you only need a little extra while waiting on your paycheck. You’ll need to download and use the mobile app for these cash advances, but they can be sent directly to your debit card for your convenience. 

Advance amount: $10 to $50. Some existing eligible members may be able to request up to $200.

Fees: $6.99 monthly fee and instant transfer fees from $1 to $10

6. Brigit 

Brigit is a popular cash advance app that works a little differently than some other platforms. Its platform continuously monitors your bank account activity. It alerts you when your balance is low, and the platform can automatically send a cash advance before you overdraft. For those who want proactive overdraft protection, this can be helpful. 

Advance amount: Typically between $25 and $500

Fees and APR: No late fees or interest, but monthly subscriptions cost either $8.99 or $15.99 depending on your plan 

7. Tilt 

Tilt’s cash advances are quick-acting, and you can get approval in as little as three minutes. You can also receive funding quickly, especially if you’re willing to pay for an instant transfer fee. You’ll repay the balance when your next paycheck hits the account. 

Borrowable amount: Between $10 and $500

Fees and APR: No interest or late fees. $8 monthly subscription after a 14-day trial. $1 to $8 for instant delivery up to $299.99, or 3% of the advance amount for advances $300 and higher.

8. Klover

Klover is an online budget management tool that offers cash advances, and it does so in an unconventional way because it doesn't charge mandatory fees or interest. It's best to review how Klover's optional features work before you sign up with the platform.

Advance amount: Up to $750 

Fees: No mandatory fees for a basic cash advance. Express transfers may be up to $37.49 for a $750 cash advance. Klover+ membership may cost up to $9.99 per month.

How To Get a Cash Advance in 6 Steps

Getting a cash advance is quick when you know what to expect. Here's how the process works from start to finish.

1. Choose a lender. Compare apps, storefront lenders and your credit card issuer to find the option with the lowest fees and the right funding speed.

2. Check eligibility. Many apps require proof of steady income, an active checking account and a U.S. address. Storefront lenders may also ask for a pay stub and identification.

3. Link your bank account. Cash advance apps connect to your checking account to verify income and set your advance limit.

4. Request your advance. Choose how much you want to borrow and pick standard or instant delivery.

5. Receive your funds. Money lands in your account in minutes with instant delivery or within one to three business days with standard delivery.

6. Repay on your due date. Cash advance apps usually auto-debit the amount from your linked account on your next payday.

Alternatives to a Cash Advance

You may find several of the options to offer favorable terms and relatively low fees, but a cash advance still may not be the right fit. It’s important to make sure you fully understand what you’re agreeing to, when you need to repay a loan and which terms could impact the total loan cost.

Fortunately, there are other cash advance alternatives to consider. These include:

• Earned Wage Access (EWA) services: Services like MoneyLion Instacash let you access wages you've already earned but haven’t yet been paid for before your next payday. These services often have very low or no fees, and they're often cheaper than getting loans.

• Payday alternative loans (PALs): Many credit unions offer federally regulated small-dollar loans that serve as a lower-cost alternative compared to traditional payday loans or cash advances.

• Side gigs: Some of the best cash advance apps include additional perks, such as Dave and its gig marketplace. If you have the time, completing a gig job is a debt-free way to cover a temporary financial gap — and it can even open doors to a side business over time.

• Credit cards: If you have a credit card, using it to cover purchases or even take a credit card cash advance may have lower interest rates than higher-cost cash advances or payday loans. However, this is still a form of high-interest debt, so use credit cards and their cash advances mindfully. 

How To Get a Cash Advance From a Credit Card

Credit card cash advances may carry an APR, which can vary depending on the issuer, and interest is charged immediately after withdrawal. There may also be upfront fees for the cash advances, which are typically a percentage of the amount withdrawn. Your credit card can give you cash in three ways.

ATM Withdrawal

Insert your credit card at any ATM, enter the personal identification number (PIN) your issuer provided and withdraw cash up to your cash advance limit. You'll pay an ATM fee on top of your issuer's cash advance fee.

Bank Lobby Withdrawal With ID

If your card is in-network with a bank, hand the teller your credit card and a government-issued ID and request a cash advance. This option works when you don't have a PIN.

Convenience Checks

Your card issuer may mail you blank checks tied to your credit line. You can write one to yourself, deposit it and access the funds, though the same cash advance APR and fees apply.

Key Terms

• Cash advance: A small, short-term advance or loan that gives you quick cash before payday and is usually repaid from your next paycheck or card balance.

• Payday loan: A short-term, high-cost loan, usually for $500 or less, typically due on your next payday.

• Credit card cash advance: Cash you pull from your credit card at an ATM, bank or with a convenience check. Interest starts right away and fees usually apply.

• Annual percentage rate (APR): The yearly cost of borrowing money, including interest and some fees, shown as a percentage.

• Earned wage access (EWA): A service that lets you access part of the pay you already earned before your scheduled payday.

Sources

• Federal Trade Commission (FTC): What To Know About Payday and Car Title Loans.

• CFPB: Can I withdraw money from my credit card at an ATM?

• CFPB: What is a credit card interest rate? What does APR mean?

• CFPB: Data Spotlight: Developments in the Paycheck Advance Market.

Parts of this article were created with AI assistance. MoneyLion editors reviewed, fact-checked and edited the final version and are responsible for its accuracy.

Photo credit: Shutterstock.com/Liudmila Pleshkun