At times you come across financial distress and discomfort where you just run out of money. A lot of your dues are pending that can be your household essentials, your house rent, electricity, water, or your sui-gas deficits. Apps like Dave are developed to tackle these situations. Let us know more detail about ‘Best Alternatives To Dave: 5 Cash Lending Apps’.
What is Dave? How can it help financially?
Dave is an app that provides you with a small mortgage without any interest. However, it is dependent on a tipping basis such that customers are free and can give tips according to their own will. It helps to cope with small necessities and fulfill them through the help of small loans. It is a customer-friendly app and prevents you from falling prey to lenders and then increasing your arrears. Small amounts less than 100 dollars can be granted to the customers on a loan basis and it is only used to fulfill small needs. Some of the merits and demerits are discussed below:
Merits
- interests free payments.
- instant access to payments.
- offers multiple features such as lending, saving, and budgeting features.
- 100 dollars loan to deal with emergencies.
- No credit check is required.
Demerits
- It is not better than Earnin in contrast to the fact that with Earnin you can get a loan of up to 500 dollars but with this, only a loan of 100 dollars is granted.
- It is not a completely free app but takes a 100 dollars membership fee monthly.
Other Chime linked apps like Dave
First of all, let me tell you what chime is? Chime is a financial company under the leadership of Chris Britt and Ryan King developed in 2013. It is a mobile banking service being under the Stride bank that is FDIC insured. There are a lot of apps developed for human support and welfare that stand as the best alternative for dave. Some of them are:
- Cleo
- Albert
- Empower
- Varo
- Moneylion
Let us go through these apps one by one and consider their pros and cons. First of all, the best-known app, Cleo
1. Cleo: to process reiterated loans
Cleo is one of the widely known notorious apps. It is famous for its policies that are customer-friendly and grants loans intermittently. It is the best-known app to deal with small emergency situations.
This app also holds some merits and lacks some features that are as follows:
Pros
- grants a maximum loan of 100 dollars.
- works in coordination with chime.
- customer-friendly and work for human welfare.
- offers some essential budgeting features.
Cons
- lends a meager amount of enough not enough to deal with drastic conditions.
- Most of the features are free but the cash advancing feature charges a fare of 5.99 dollars a month.
2. Albert: the money managing app.
Albert app is famous around the globe due to its money managing techniques and saving advice. It instructs and advises you to save and handle your money comfortably with full ease.
Pros
- allows its customer a maximum grant of 250 dollars loan.
- standard advances are free and do not take any interest.
- it also gives rewards on savings if a genius subscriber.
- works with chime.
Cons
- for instant delivery require 5 dollars if a standard user and 4 dollars in case of a genius subscriber.
3. Empower: a money tracker
Empower a money tracking and saving app. It is in turn an option to earn a handsome amount of money by in-turn cashback investments and purchases. It is the only best-known app for instant delivery.
money tracking and saving
Pros
- A two day earlier pay
- Maximum loan up to 250 dollars.
- works and supports chime.
- Gives 10 percent cashback rewards.
Cons
- It demands an 8 dollars fare to access it monthly.
- Just a 14-days free trial is given.
4. Varo: for money lending composure
An app designed to get instant small loans and a composure to banking such that money lending and money giving experience.
App for banking experience
Pros
- works in coordination with the chime.
- A maximum loan of 100 dollars is given.
- 3 percent interest is granted on saving accounts motivating to save money.
Cons
- They took a fixed price of charge in order to withdraw your cash advance.
5. Moneylion: for legitimate banking experience.
Moneylion is a legitimate app in order to go through a comfortable banking experience. It has manageable advance cash from 25 dollars to 250 dollars.
App for banking experience.
Pros
- works in support of chime.
- maximum loan up to 250 dollars.
- comfortable policies.
- no fees.
- no credit checks.
Cons
- inadequate management options.
- unreliable management staff.
- lack of financial planning.
Conclusion
Now we have learnt ‘Best Alternatives To Dave: 5 Cash Lending Apps’, World has progressed a lot and with this progress, highly developed technologies are implemented to tackle human discomfort. In order to cope with the money discomfort apps like dave are developed that provide financial assistance on easy terms. You simply need to go to the app, link the account, and request a loan.
