What is DailyPay and How Does It Work? 8 Dailypay Alternatives

what is dailypay

What do you do when; You are out of cash? Have overdue bills to pay? Unexpected expenses pop out of the blues? No funds to replace finished groceries? I mean at a point where the month seems like it’s never coming to an end and no one is coming to your rescue or agree to lend you money for a short period of time?

When situations like this surface, Dailypay, An on-demand pay platform that delivers early access to earned wages and works with all HR/HCM/payroll systems is certainly your answer.

The goal of dailypay is to lend you money and help you avoid late fees, overdrafts, and expensive payday loan apps, which means you have complete control over your unpaid earned wages, allowing you to pay bills on time, deal with unexpected expenses, and save effortlessly with the app’s saving features.

In this article, we’ll look at what dailypay is and how it works including And other apps like dailypay, while answering some frequently asked questions about the daily pay topic.

Let’s get this party started already!!!.

what is dailypay
What is DailyPay and How Does It Work? 8 Apps LIke Dailypay

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What Is Daily Pay?

Dailypay, as the name suggests, is a fintech financial app that allows you to be paid on a daily basis even if your present job does not pay until the end of the month. In other words, Dailypay works with your employer to give you early access to your previous day earnings.

Is Daily Pay Safe To Use?

Consumers may use Dailypay with confidence since it uses bank-level security to encrypt and secure all of their personal information. There have been reports of earned wages being sent to to the wrong account; however, this is obviously due to the user inputting incorrect bank details.

How Does Dailypay Work?

DailyPay is the gold standard in on-demand pay, assisting employees in achieving financial stability by providing them with complete control and flexibility over the timing of their pay.

It does so by connecting the company’s payroll and timekeeping system to allow employees early access to a considerable amount of their daily earned wages. This is possible because as an employee everyday work will be reported to dailypay.

To use dailypay, you must be signed up, and the signup procedure takes less than 5 minutes. Before you sign up for dailypay, make sure your employer is associated with them; if so, you will be asked to provide the following information:

  • Email.
  • Last Name (in some case.)
  • Employers ID.
  • Your bank account.
  • Prepaid debit card.
  • Payroll card. Amongst other pieces of information.

Keep in mind that dailypay only allows you to deposit a portion of your earnings, not your complete paycheck, into your bank account. The balance of your funds will be delivered to you on your regular payday.

Dailypay charges a $0.99 convenience fee for deposits of less than $150 and a $1.49 fee for deposits of $150 or more. With the dailypay free trial, you may try out dailypay for two weeks for free to see what they’re all about!

How Can I Deposit to My Bank From dailyPay?

Dailypay allows you to access your earned wages on demand. The steps below will show you how to achieve just that:

  • Choose How Much To Transfer:

What dailypay does is provide you early access to your earned wages for that day and other days, as well as the ability to choose how much of your earned wages you want to transfer. The amount you want is entirely up to you.

  • Decide When To Transfer:

It doesn’t stop at deciding how much of your earned salary you wish to transfer from your dailypay account; you also get to choose when the money appears in your account.

  • Instantly: Choosing the instant transfer means you can get your transferred money almost immediately or at most a few hours that same day. This includes weekends and holidays, 24/7/365. You are charged $2.99 to use this option.
  • Next-Day: Unlike the instant transfer option, The next day works in direct opposite of it. You transfer your money and decide to have it the next working business day. With this option holidays and weekends are exempted. you are charged $1.99 to use this option.
  • Decide Where To Transfer It:

One of their selling factors is the flexibility of dailypay and the control you have over every single action. Not only do you determine how much of your earned money to transfer, but you also decide where to move it, with some of the available possibilities being:

  • Direct deposit checking account: If you need your money directly into your deposit checking account, The option is available for you on dailypay.
  • Debit card or pay card: If debit or pay cards are where you want your money transferred to, Dailypay listens and offers you the option.
  • Transfer to savings: With dailypay transfer option, You can choose to transfer your earned wages to your saving account if that’s what you want.
  • Complete Transfer and Receive Your Money:

The final step is to complete your transfer by confirming all of your selected options, after which your money will be transferred at the specified time and account.

Finally, any paycheck balance that an employee does not transfer will be paid to them at the end of the month.

Who Can Use Daily Pay?

Since it is only available to employees whose employers have partnered with dailypay, this means that only the linked company’s employers can all use dailypay. To enroll All you have to do is supply all of the necessary information.

How To Sign Up for Daily Pay?

To sign up for a dailypay account you can use the websiteOpens in a new tab. or the app. The app is available for download on the app storeOpens in a new tab. for iPhone users and the play storeOpens in a new tab. for android users if you don’t have it yet.

Signup on dailypay is effortless and it takes less than five minutes to do so. There are three ways in which first-time users can sign up on dailypay:

  • Email Method:

On your device, Launch the website or app a registration form will open next asking you to provide some useful required information such as:

  • Email: This has to be the email your company has on its file. The email could be your personal or company email just ensure it is the one on file in your employee’s company.
  • Employee’s company: Although this is optional, However, it makes so much sense to provide the name of your employees’ company for the ease of validation.
  • Your Phone:

The process is similar to that of using the email method. Using your device, When you launch the website or app, a registration form will appear, requesting you to complete some necessary information such as:

  • Cell Phone: This has to be the Cell Phone your company has on its file. The Cell Phone could be your home or work just ensure it is the one on file in your employee’s company.
  • Employee’s company: Although this is optional, However, it makes so much sense to provide the name of your employees’ company for the ease of validation.

   3. Your Employee ID:

This approach to signing up differs from the “email and try your phone” option. Using your device, When you launch the website or app, a registration form will appear, requesting you to complete some necessary information such as:

  • Employee ID: Rather than providing your email or cell phone, The employee ID method means you have to provide dailypay with your employee ID. “If you are not sure what your employee ID is, check your recent pay stub or your company portal.”
  • Last Name: Together with your employee ID you have to provide your last name in the provided field during registration and it has to be the one on your employee data file.
  • Employee’s company: Although this is optional, However, it makes so much sense to provide the name of your employees’ company for the ease of validation.

Upon completion of the first phase of registration, You will be required to provide additional financial information such as:

  • Your bank account.
  • Prepaid debit card.
  • Payroll card.

P.S – What dailypay does is take your email, phone number, or employee ID that you submitted to them during sign up and compare it to whatever data they have in their database.

If it matches, you will be transferred to the next stage of registration; if it does not, you will receive an error message saying “Thank you for your interest in DailyPay, but we can’t find your account” coupled with some quick assistance on how to proceed. (See image below)

Dailypay registration error message

What Time Does Daily Pay Deposit?

With DailyPay, you can get a transfer from your Pay Balance immediately or the following working day. When you use the Instant transfer, you receive your money quickly, regardless of the time of day. Weekends and holidays are not excluded.

When Does Daily Pay Update?

Dailypay updates members’ available balances as soon as the most recent shift hours are sent to DailyPay, which happens between 10 and 11 a.m. every day. The update includes a message asking users if they wish to transfer up to half of their earnings to their bank or card.

When you opt to request your wages, you will be paid immediately, even on weekends and holidays. If you choose the Now instant payment option, the payment will be made to your default debit card and will deposit immediately.

Why Is DailyPay Not Updating?

If your Dailypay Pay Balance is not updating, please double-check that you have registered your hours accurately. Your earnings may be delayed as a result of the type of work you do, how it is reported, or how much data is submitted by your employer’s payroll team at one time.

How Much Does Daily Pay Charge?

Charges on dailypay are divided into two categories. Dailypay charges a transaction fee of $0.99 for deposits of less than $150 and a cost of $1.49 for deposits of $150 or more. There is also a transfer fee of $2.99 if you use the fast transfer option and $1.99 if you use the next-day transfer option.

The smallest amount you can transfer is $5, and you can transfer up to $1000 per day. Since dailypay does not allow users to transfer all of their daily wages, you can only transfer a maximum of 60-70 percent of your total earnings for that day.

How to change employer on daily pay?

 

How To Cancel Dailypay Account?

If you want to delete your dailypay account for whatever reason, simply follow the procedures below:

  • Please log into your account.
  • From the drop-down menu on the left, select Settings.
  • Then select Account Cancelation.
  • On the following page, confirm your cancellation request.

That’s all there is to it; you’ve just canceled your registered account with dailypay.

Why Is My Daily Pay Account Canceled?

There are two possible reasons for the cancellation of your dailypay account:

  1. Due to Inactivity: Dailypays’ policy states that if your account has been inactive for 30 days, it will be immediately paused. You will receive an email informing you that the status of your account has been changed to Paused.
  2. Canceled by Your Employer: If your employer cancels your account for any reason, your dailypay account will be automatically canceled. If you still have a balance in your account, cancelation will be delayed until the end of the month, when they will pay you the amount.

How To Reactivate My Daily Pay Account?

If you accidentally deleted your dailypay account, or it was canceled for some unknown reason, or you purposely deactivated it and feel the need to reactivate it now, follow the steps below:

  1. Login back to your account with your previous credentials.
  2. On the next page, click Reactivate My Account.
  3. Then, on the following screen, click the “Re-Activate Your Account” button.

Note: the “Re-Activate Your Account” button only appears If the user is permitted to reactivate his/her account.

List Of 8 Other Apps Like DailyPay

1. Earnin

Earnin is a financial app similar to dailypay

Earnin is a financial app similar to dailypay that you can 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. Read more on apps like earnin.Opens in a new tab.

Pros:

  • Doesn’t include any membership fees.
  • Instant money lending.
  • supports tipping instead of fees
  • Up to $500 borrowed per pay period.
  • Does not affect credit scores.

Cons:

  • Your income determines what you can lend.
  • The withdrawal limit is low.
  • Freelancers, and remote workers, can not use the app.

Visit EarninOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

2. Dave App

dave app is an app like dailypay

With over 10 million members and counting. The Dave app is an app like dailypay 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 give 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. Read On best sites like daveOpens in a new tab..

Pros:

  • 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.

Cons:

  • Repayments are deducted automatically from your bank account.
  • $100 maximum cash advance limit which is low.

Visit DaveOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

3. MoneyLion

MoneyLion is an alternative to daily pay
MoneyLion is an alternative to daily pay

MoneyLion is one of the best alternative to daily pay 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, like dailypay, offers you to borrow up to $500 at APRs as low as 5.99 % and does not require a credit check to be authorized. Furthermore, as you make your monthly payments, Moneylion will report your payment history to all three credit bureaus. This, in turn, guarantees that your credit has been built properly.

You can get up to $250 at 0% APR with the moneylion Instacash option. MoneyLion, unlike other payday lending companies, does not ask you to repay your loan as soon as possible in order to avoid interest charges.

Finally, every time you log into the MoneyLion app as a customer, you earn an instant $1 reward. Not only that, but you can also earn cash rewards based on the size of your investment account. Read more on the best moneylion alternativesOpens in a new tab..

Pros:

  • 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.

Cons:

  • No physical locations.
  • No check-writing.

Visit MoneylionOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

4. Brigit

Brigit is other apps similar to dailypay

The Brigit app is a free app similar to dailypay in that it offers small-dollar paycheck advances of up to $250. Brigit does not charge interest on the loan itself, but you will have to pay a steep monthly membership fee of $9.99 if you want to switch to the Plus plan, which contains budgeting and account monitoring tools to help you stay on track with your finances.

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. See other apps like brigitOpens in a new tab.

Pros:

  • 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.

Cons:

  • $9.99/month membership plan (which is expensive).
  • Do not allow joint checking accounts.

Visit BrigitOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

5. Even

Even is dailypay alternative
Even is a dailypay alternative

Even is a dailypay alternative that works with Chime and provides you early access to up to 50% of your earnings before your next paycheck is available. So you can budget and manage your money based on your expenses and charges, 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.

One even, 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. Read more on apps like Even.Opens in a new tab.

Pros:

  • 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.

Cons:

  • Your employer determines how many cash advances you can take.
  • You may have to pay a monthly subscription plan.

Visit EvenOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

Read Here > Instant Money Lending Apps In the USA With Low InterestOpens in a new tab.

6. Empower

Empower is a sites like dailypay

Empower is a payday site like dailypay 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 with Direct Deposit, Bank Transfer, Mobile Payment Service Apps, or Cash and Check Deposits. Empower, on the other hand, charges a monthly subscription price of $8 once the 14-day free trial period ends for first-time consumers, which can be canceled at any time. Read more on apps similar to empower.Opens in a new tab.

Pros:

  • 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.

Cons:

  • Re-curring monthly fee charge of $8.
  • Only 3 ATM reimbursements per month.
  • Low APY (0.05%), especially for a digital-only app.

Visit EmpowerOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

7. Klover

Klover is a sites like dailypay.com
Klover is a sites like dailypay.com

Klover is a site like dailypay.com that provides interest-free cash advances from money earned at work. There is no credit check, and some users may be able to borrow up to $100 in just minutes.

If you borrow $100 with Klover, you only repay the $100 when your next paycheck arrives, the money is promptly deducted from your bank account, and the repayment period cannot be extended Unlike other cash advance platforms you will not be charged any interest or fees.

To use Klover, you must validate your paycheck and provide proof of at least three paychecks directly deposited into your account by the same company in the previous two months. Deposits on klover, Standard ACH are typically completed within 1-2 business days but are deposited into your bank account within 3 business days.

Pros:

  • Cash advance of up to $100.
  • Interest-free and no monthly subscription.
  • No credit check.

Cons:

  • Paycheck verification is required.
  • Deposit takes longer than expected.
  • Requires at least two times payments from the same employer.

Visit KloverOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

8. PayActiv

Payactiv is a website similar to dailypay
Payactiv is a website similar to dailypay

Payactiv is a financial services website similar to dailypay that partners with companies to provide employees with financial services by providing staff an “advance” on wages for which they’ve already worked, but for which they have not yet been paid.

The daily pay alternative does not give out loans rather it gives employees an advance on their own earned wages for a “per transaction fee” of $5.00. Once you enroll and log in to your PayActiv account, you will see the hours you have already worked and the amount of your earned wages that are accessible.

To get an advance, You can select the amount you need and transfer it to your bank, load it on a prepaid card, get it as cash, or pay bills with it—all with a few clicks. Transfers to the Payactiv Card are instant 24/7/365. Transfers to bank accounts and debit/prepaid cards are completed within 48hrs. Read more on apps like payactiv.Opens in a new tab.

Pros:

  • Allows immediate access to earned wages prior to payday.
  • no setup or recurring fees to employers.
  • Offers multiple financial services.
  • Charges a low fee for Earned Wages Access.
  • Users can access up to 50% of wages.

Cons:

  • Potential program fees of up to $5 per pay period.
  • Payactiv card is required for instant funding.

Visit PayActivOpens in a new tab.

Download App (AndroidOpens in a new tab. — iPhoneOpens in a new tab.)

You Might Like > Money Lending Apps Like SoLo Funds For Quick LoanOpens in a new tab.

Conclusion

Now that you understand what Dailypay is all about and how it works, as well as other apps like Dailypay that you can rely on. You can now determine whether it is worthwhile and whether you would prefer an alternative.

Aside from the fact that they charge up to $2.99 for the quick transfer, I believe dailypay is the ideal on-demand payday software available because it allows you complete control over the amount you can request at one time.

If you’ve tried it out once or used any of the dailypay alternatives recommended in this blog post, please share your thoughts with us and other users in the comments section below. Cheers!!

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