Apps Like Payactiv – Payactiv contrasts from standard loan or cash advance apps in that it does not lend money but rather gives employees an advance on their own earned wages since it exclusively partners with businesses to provide financial services to its employees.
To put it another way, if you need money to pay your bills? want to go grocery or toiletry shopping? or make an urgent payment before your next paycheck? When it comes to cash advances, the Payactiv app is without a doubt your best bet.
On the other hand, It migth come as a suprise for many individuals to learn that, despite all of its enticing features, Payactiv isn’t the only cash advance app that offers financial services to employees. Since that is the intent of this article, sit back grab your pop corn while I walk you through this list of apps similar to payactiv for cash advances.
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What Are Apps Like Payactiv?
Despite the fact that there are hundreds of payactiv alternatives, my focus in this post will be on the top 10 best apps like payactiv for cash advances before payday, which are Dave, Moneylion, Even, Earnin, Albert app, and so on.
What Is Payactiv?
PayActiv is a financial services company that partners with businesses to provide financial services to employees by giving them a “advance” on pay for which they have already worked but have not yet been paid.
How Does Payactiv Work?
What payactiv does is to partner with businesses and in turn offer the employess of that partnered business who need quick cash for bills, shopping or whatever-a cash advance paycheck prior to their payday.
The use of this service is optional to all the staff of the company but if it is something you find ideal; you can pay bills directly with the app, fund your prepaid card, transfer to your bank/credit card, or get it as cash all this with just few clicks.
For every transaction, you would be charged a transaction fee of $5. Good thing is unlike some of their competitors, You can carry out transaction anytime of the day/week and Transfer to card/bank are completed within 48hrs, While transfers to the payactiv card takes less than 24hours.
How Long Does Payactiv Take To Deposit?
It does not take long for Payactiv to deposit your cash. Transfers to the Payactiv Card are quick and available 24 hours a day, seven days a week. On the other hand, Transfers to bank accounts and other debit/prepaid cards take 48 hours to process.
What Companies Use Payactiv?
According to a data by enlyft that goes back as far as 4 years and 6 months., there are atleast 113 companies that trust and use payactiv for the benefit of their employees. There is also reports that PayActiv is most often used by companies with 10-50 employees and 1M-10M dollars in revenue.
The table below shows the list of some companies that use payactiv cash advance app (as provided by enlyft).
|Signature HealthCARE, LLC||ltcrevolution.com||United States||>1000M||10-50|
|H.R. OPTIONS, INC||hroptions.com||United States||200M-1000M||1000-5000|
|Home Instead Senior Care||homeinstead.com||United States||50M-100M||500-1000|
|Right at Home, Inc.||rightathome.net||United States||0M-1M||10-50|
|HMSHost Corporation||hmshost.com||United States||>1000M||>10000|
When Does Payactiv Update Hours?
Transfers to the Payactiv Card are quick and available 24 hours a day, seven days a week. Transfers to bank accounts and other debit/prepaid cards take 48 hours to process. Card transfers are available in real time for $1.99 per transaction. Bank transfers received after 12:50 p.m. EST on M-F are processed the following business day.
Does Payactiv Work on Weekends?
I think of the many reasons why payactiv is being loved by many is that even in the late night of weekends yiou can always trust them to be there for you. Payactiv works 24/7 even on weekends, so you can be rest assured that they have your back when you have to sort an urgent bill during weekends.
How To Delete Payactiv Account?
To cancel your Payactiv membership on Android, you must first understand that simply removing the Payactiv app will not suffice. Take the following steps:
- To begin, go to the Google Play Store. Check that you’re signed into the correct Google account if you have more than one.
- Navigate to “Subscriptions” by clicking on the menu.
- Select the Payactiv subscription you want to cancel and click the “Cancel Subscription” button.
Viola, there you go you have successfully cancelled your payactiv subscription.
When your Payactiv subscription is deleted from Google Play, all future subscriptions are revoked and will not be renewed.
With that out of the way, let’s get to the meat of the matter…
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Even is a payactiv alternative that when you download it app, you are given early access to up to 50% of your earnings before your next paycheck. So you can organize and budget your money based on your expenditures and costs, and save money before your paycheck arrives in your bank account.
Currently, the Even app is exclusively available to employees of firms that have collaborated with Even and offer this product as a bonus to their employees. There is a non-fixed APY of 0.125 percent, compared to the national rate of 0.06 percent. You can connect your bank account in a few simple steps, and Even does its part in terms of security by using 256-bit encryption to keep your information safe from hackers.
- There are no fees or charges.
- Secured with 256-bit encryption.
- has an interesting APY of 0.125%.
- access to up to 50% of the amount you’ve earned.
- Your employer determines how many cash advances you can take.
- You may have to pay a monthly subscription plan.
MoneyLion is a private fintech company similar to pay activ app that offers lending, financial advisory, and investment services to consumers. MoneyLion offers credit-builder loans at low-interest rates, but you have to pay a membership fee, which adds to the overall cost of the loan.
Moneylion allows you to borrow up to $500 at APRs as low as 5.99 percent. The most significant advantage is that you do not need a credit check to be accepted. They also give consumers an instant $1 cashback every time they log into the MoneyLion app. Furthermore, you have the opportunity to earn cash rewards based on the amount of your investment account.
With their Instacash option, you can get up to $250 at 0% APR. Unlike other payday loan providers, MoneyLion does not require you to repay your loan as soon as possible in order to avoid interest charges.
Moneylion will disclose your payment history to all three credit bureaus as you make your monthly payments. This allows you to develop your credit score. Read more on apps like moneylion.
- No monthly fee No overdraft or service fees.
- Access to 55,000+ fee-free ATMs.
- No credit score check.
- Provide tools to help you track your savings and spending.
- No physical locations.
- No check-writing.
3. Dave App
With over 10 million members and counting. The Dave app is a banking app like payactiv with a single goal: to provide a financial opportunity that will help its users’ collective potential. Dave, an innovative, resourceful, helpful, and decent banking app gives its customers a paycheck advance to cover little bills such as gas, groceries, or other small expenses.
On the other hand, there is a “spending account” that doesn’t impose overdraft or low-balance fees while also allowing customers to keep track of their monthly cash flow and avoid overdraft fees. The good thing about the dave app is that you can get paid up to two days early, build your credit in the process and Instead of interest, Dave charges a monthly subscription fee, Helping the average user save more.
The Dave app only works with their partner bank, Evolve Bank & Trust, because this bank offers Federal Deposit Insurance Corp (FDIC) insurance. Money deposit on the Dave app is instant. Only delayed if there is a holiday, However, Funds transferred through your debit card will generally appear in your Dave Spending Account immediately or at most within an hour.
- Charges a Membership fee as low as $1.
- Do not charge an interest fee, but you can do an optional tip.
- It gives you access to budgeting tools and connects you to side job options.
- Notifies you if your bank account appears to be in danger of getting overdrawn.
- Repayments are deducted automatically from your bank account.
- $100 maximum cash advance limit which is low.
Earnin is a financial money advance app like payactiv that lets you use your next salary as collateral to get money advance which is credited to your bank on the same day. Earnin works by automatically deducting the amount you borrow from your checking account on your next payday.
The company’s business model is based on users paying voluntary “tips” to withdraw earned wages ahead of time. To use Earnin, you’ll need a steady payday, a checking account, and a smartphone, Plus it is available for salaried, hourly, or on-demand employees.
- Doesn’t include any membership fees.
- Instant money lending.
- supports tipping instead of fees
- Up to $500 borrow per pay period.
- Does not affect credit scores.
- Your income determines what you can lend.
- The withdrawal limit is low.
- Freelancers, remote workers, can not use the app.
The Brigit app is a free-to-use cash app like payactiv which provides small-dollar paycheck advances of up to $250. Brigit doesn’t charge interest on the loan itself, but you will have to pay a hefty monthly membership of $9.99 if you are looking to upgrade to the Plus plan, which comes with the budgeting and account monitoring tools to help keep your finances on track.
The interesting thing about Brigit is that it not only analyzes your spending, But it will automatically advance your money if it thinks you’re in danger of overdrawing your account. Also, Brigit also offers early repayment options, as well as due date extensions.
- Works with more than 15,000 US banks.
- Offers paycheck advances of up to $250.
- Do not share or sell your information with third parties.
- Free account monitoring and access to budgeting tools.
- Helps prevent overdraft charges.
- $9.99/month membership plan (which is expensive).
- Do not allow joint checking accounts.
Empower is a personal finance loan apps like payactiv that helps you take control of your money. When you tell empower how much you want to save each week, they automatically set it aside when they notice an excessive amount of cash available.
For quick cash, Empower offers cash advances of up to $250, with same-day delivery if you have an Empower checking account. The app monitors your spending and determines when to move small amounts of money over to ensure you meet that weekly goal.
You can fund your empower account via; Direct Deposit, Bank Transfer, Mobile payment service apps, and Cash and Check Deposits. On the other hand, Empower charges an auto-recurring monthly subscription fee of $8 after the 14-day free trial concludes for first-time customers, which can be canceled at any time.
- Get up to $250 at a go.
- same day money delivery.
- Various funding processes.
- automatically set aside for you when they detect you’ve got excess cash.
- Re-curring monthly fee charge of $8.
- Only 3 ATM reimbursements per month.
- Low APY (0.05%), especially for a digital-only app.
Branch is one of the world’s leading personal finance apps like payactiv instacash that provides access to instant loans with no physical documentation. The app allows you to request an advance on your paycheck, which is a lower-cost alternative to payactiv. Branch asks you to tip them instead of paying traditional interest for the advance.
You can get the max amount of $500 cash advance and it gets to arrive the same day there is a $3.99 charge for it unless you want the 3-day option which comes at no cost. There are no hidden charges. You just need to ensure that you make your loan repayment once it’s due to avoid having issues with the credit bureau.
- Same-day availability option.
- No interest or membership fees.
- Up to $500 advance cash.
- Might end up on a waitlist.
- You only get advance based on previously worked hours.
8. Albert App
Albert is an all-in-one financial app like payactiv which assists you in saving money, consolidating all of your accounts into one location for a 360-degree picture of your financial life, lowering your costs, providing financial assistance, developing a tailored financial plan, and even guiding you in investing your money.
Albert can assist you with a fast cash advance of up to $100 directly from your bank account, with no interest or late penalties, and the transfer will be executed within 2-3 business days. Albert savings are maintained in FDIC-insured institutions, providing a sense of security.
- No hidden interest or monthly service fees.
- Works with chime bank.
- Repayment is handled automatically.
- Works with chime.
- Low APY as compared to other loan apps like moneylion.
- $4 monthly fee for the optional Genius subscription.
- No joint accounts.
FloatMe is a cash advance app similar to payactiv and even, With the app users are allowed to borrow up to $50 between paychecks. There are no credit checks or interest charges, and you can have the money you need in as little as a few minutes. However, in order to use the FloatMe app, you must pay a subscription fee.
The instant loan app functions as an employer-sponsored program that allows employees to withdraw a portion of their earned income prior to payday. Once signed up, you pay a membership fee of $1.99 per month, but you can unsubscribe at any time if you no longer want FloatMe’s services.
The sign-up procedure is straightforward, and they partner with Bank of America, Wells Fargo, Chase, Navy Federal Credit Union, and over 9,600+ banking institutions to make the process as smooth as possible. Additionally, FloatMe uses standard 256-bit encryption to keep your data private, which makes the app very secure.
- Helps out in emergency situations.
- Low monthly subscription fee and no interest fee.
- Funds credited within minutes.
- Maximum cash advance of $50.
- Paycheck direct deposit required.
- Does not build a credit score.
DailyPay is that payactiv like app you can trust if you are in for an instant cash advance to help you solve urgent financial needs without having to pay hefty overdraft fees or higher interest fees. With DailyPay, you can get an advance on your earnings before your next payday and save over $1,205 in overdraft fees, loan interest, and late fees.
DailyPay charges a $1.99 transfer fee per day after the money is earned, and your transfer arrives instantly no matter what day or time it is. However, if you request a transfer before 5:30 p.m. ET, you will receive your money on the next business day.
If you did not make any transfers, you will receive your entire paycheck on your normal payday. For sending leftover pay, DailyPay will never charge a transaction fee.
- You can get your paycheck daily, no need to wait.
- Can be used to set up different kinds of automatic transfers.
- you can access about 50% of your paycheck as you earn it/before your actual payday.
- No transaction fee is charged for sending of remainder pay.
- Charges $2.99 for instant transfer.
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Conclusion on Payactiv Alternatives?
There you have it, a thorough list of cash advance apps like payactiv that you can always rely on to bail you out when the occasion arises.
If you have used any of these applications, please share your experience with us and other users in the comments area. Also, if you know of any additional apps similar to payactov that you believe should be included in this list, please let us know in the comments section.