The most challenging task as an adult is to handle your finances. Loans can be avail either through a bank or by downloading a mobile app. Still, many people are inexperienced when it comes to handling their finance properly. MoneyLion is one popular app that is best for managing finances. It allows the user to borrow money to meet his financial needs before he gets his paycheck. There are also many alternatives to MoneyLion. If you are looking for the best alternatives for MoneyLion, this article will help you to pick an alternative that can assist you in maintaining your financial stability.
The Chime offers mobile banking services without any charges. It is an American financial firm where the account holders will be given visa debit cards. They will get access to the online banking systems through the mobile app or company’s website. The majority of the revenue is collect from the business. The eligibility criteria include the first and the last name of the person, email and password, social security number, should be a citizen of the US and above 18 years. The cash advance limit is up to 200 dollars. The repayments are automatically withdrawn from the loan amount. There is no service charges, overdraft fee, or any monthly fees.
- No monthly or overdraft charges as there are no physical branches
- There are certain free of cost facilities like accessing wages early, checking accounts with no minimum balance, automated savings
- There are no traditional negative balance fees that are charge if you overreach your overdraft limit
- The automatic savings feature helps in saving money when you receive your paycheck
Dave enables the user to access the paycheck earlier. It enables you to build your credit score and get up to 100 dollars as an advance from your paycheck. Anybody above 18 years can avail t benefit. The person must show the bills as they should not exceed his paycheck. A monthly fee of one dollar is charge which is automatically deducted from your bank account.
- Planning the upcoming expenses can be done
- Instant alerts will be receive if your planning exceeds your budget
- There are no overdraft fees. Only a monthly fee for accessing the app is chargeable
Empower enables the user to receive cash advances with no interest and credit checks. The app needs to be download on your device for a weekly savings plan. It keeps track of all your everyday income and expenses. The eligibility criteria include an average minimum of 500 dollars, at least two transactions a day on an average, healthy current account balance. There are no overdraft, hidden fees, or insufficient fund fees.
- Tracks and monitors all your expenses
- Get instant cashback and save money on shopping
- It has access to over 37000 ATM locations
The Earnin app allows the user to withdraw a small number of your salaries before you receive your paycheck. To obtain the benefits one has to have a compatible pay schedule, the salary that you earn must be a minimum of four dollars per hour. The maximum amount that one can borrow as a cash advance is hundred dollars. 500 dollars as advance cash can be obtain if all the cash advances are repaid promptly by using the app.
- Your bank information is mandatory for connecting the app with your checking account
- All your information is safely store
- The app can trace the number of hours that you work
This is one of the popular and best payday loan app known as advance payday that offers its users multiple features like budgeting protection and overdraft fees. The users can even request the bank for a cash advance of up to 250 dollars if the credit card balance drops to zero. The Brigit app offers its users both free and paid membership versions.
- Track and monitor the credit score
- Notification is sent if the payments are due and if the balance changes
There are plenty of apps that have been release in the market that primarily focuses on lending loans and money management. These alternative apps to MoneyLion that we have discussed above enable the users to manage their finances by linking them to their bank accounts, applying for loans, monitoring their credit scores, etc. Hope it has guided you to choose the best alternative app to MoneyLion.