Navigating the expanding landscape of payday loan alternatives, Possible Finance stands out as a player that blends elements of both payday and installment loans. The Possible app differentiates itself by charging high APRs while giving borrowers a generous eight-week payback window.
However, the market is flooded with various lenders and networks providing small, short-term loans, allowing borrowers to select a financing option tailored to their needs.
Apps like Possible Finance – Top 15 Best Alternatives for Possible Finance
Let us see some of the best alternatives of the possible finance app:
Beem is a financial app that offers instant cash advances, money transfers, and other financial management tools. Beem offers different plans for its users with transparent and simple pricing. The plans include Basic ($2.47/mo), Plus ($5.97/mo), and Pro ($12.97/mo).
The platform also offers features such as Everdraft™, job loss and disability protection, tax filing, BFF – Better Financial Feed™, wallet, send money to anyone, buy gift cards, credit monitoring, identity theft protection, and Send Now, Pay Later™.
Brigit distinguishes itself in financial services by providing cash advances and comprehensive budgeting solutions. With the capacity to offer up to $250 per pay cycle, Brigit’s unique proposition lies in its interest-free and finance-fee-free cash advance model. Users can subscribe to the service for a monthly fee of $9.99 to access these benefits.
This subscription includes complimentary overdraft protection, participation in a credit builder program, around $1 million in identity theft protection, and the added convenience of extending payment due dates. Notably, users who consistently make two consecutive on-time payments can request payment extensions directly through the app, enhancing the flexibility and user-centric nature of Brigit’s offerings.
|Ensure that overdraft fees are avoided by tracking spending
|The monthly membership fee comes in at $9.99
|Organizes repayment extensions up to 3 times
|Higher advances are subject to restrictive eligibility criteria
|Added features included with subscriptions
|There may be a two-day wait for standard transfers
It is possible to send only one advance at a time. You can only receive another if you have repaid your previous advance.
Brigit prioritizes the security of user data by implementing robust 256-bit encryption, aligning with the stringent security protocols employed by banks. Demonstrating a steadfast commitment to data safety, the company adopts a multi-layered security approach.
MoneyLion, a banking and cash advance app, offers seamless financial solutions with borrowing capabilities of up to $500 between paydays. Unlike some counterparts, it refrains from monthly or finance fees. Moreover, MoneyLion allows users to borrow up to $1,000 per pay period when connected to a RoarMoney account. While offering same-day fund transfers, it provides additional features, including investment accounts, crypto trading, and a unique option to round up spare change for Bitcoin purchases. This versatility positions MoneyLion as a comprehensive financial platform meeting user needs.
|Tip-free membership with no mandatory fees.
|You may have to pay a high fee for instant transfers.
|Monitoring your credit is free.
|An annual fee of $19.99 is charged for the credit builder program.
|It takes 1 to 2 days for standard delivery to be completed.
|A higher advance rate is tied to your RoarMoney account or credit score.
There is a $1,500 daily, $2,500 weekly, and $3,500 monthly sending limit.
Using Transport Layer Security (TLS), MoneyLion protects users’ personal information. The company also states that customer information is kept confidential and secure.
Dave sets itself apart in the financial app landscape with a minimal $1 monthly subscription fee, a notably lower cost than competitors such as Brigit. It offers a cost-effective solution for users by providing a borrowing capacity of up to $500 per pay cycle and the potential for an early paycheck through a Dave Spending Account.
Beyond lending, Dave includes features to facilitate savings for future expenses and assists users in finding side jobs for additional income. Notably, for instant transfers, fees range from $1.99 to $13.99, contingent on the amount and destination account type. This combination of affordability and additional financial tools positions Dave as a user-friendly and comprehensive financial solution.
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|Affordable monthly fee payment
|The maximum amount of cash advances is $500
|Tipping is not mandatory
|The typical turnaround time is three days
|Keeping track of overdraft spending is easy
|External transfers could incur high costs
ATM transactions are limited to $500, and POS transactions are limited to $5,000 daily.
Dave’s system uses the data for security measures, unique device identification, and storing preferences and is secured against sensitive data breaches.
Albert, a banking app that once housed a cash advance feature known as Albert Instant, has transformed. The Instant feature has evolved into an overdraft service, providing users with up to $250 in protection. Access to this service is contingent upon subscribing to Albert’s Genius program, which requires a monthly payment of $14.99 or an annual fee slightly below $180. This offer change aligns with Albert’s commitment to providing users with financial tools that cater to their evolving needs.
|Up to $250 Overdraft Protection
|$14.99/month subscription cost
|Holistic Financial Management
|Removal of cash advance feature
|Limited $250 overdraft limit
You can receive up to $15,000 within 30 days. A deposit or transfer into the Albert Cash Account, between services, or to external accounts is subject to this limit. The maximum amount on the card is $20,000.
Albert uses extensive security mechanisms to keep its users safe. The app uses robust security features such as encryption techniques and secure data storage to prevent unwanted access to user data.
Earnin stands out as a payday advance application, allowing you to access your requested money on the same day. Initially, withdrawals are limited to $100, but customers can take up to $500 every paycheck once established. Earnin adopts a user-friendly approach by not imposing membership or access fees. Instead, users can tip the app for the services provided at their discretion.
Beyond cash advances, Earnin introduces unique features such as Health Aid, facilitating negotiations of medical bills with healthcare providers. The app also incorporates shopping partnerships, providing users with additional cashback benefits.
|Earnin allows users to access requested funds on the same day, providing quick financial relief.
|Initial withdrawals are limited to $100, increasing to $500 per paycheck later.
|Earnin operates without membership or access fees.
|While no mandatory fees exist, the reliance on user tips could result in varying income for the app.
|Beyond cash advances, Earnin offers unique features like Health Aid, cashback, and Balance Shield for overdraft risk notifications.
|Earnin’s services are primarily available to users who meet certain employment and paycheck criteria, excluding some individuals.
You can transfer $100 daily to a linked bank and up to $750 per pay period.
To protect sensitive information sent to users via email, EarnIn encourages them to encrypt it. Through PGP/GNU Privacy, EarnIn supports encrypted messages.
Branch, a comprehensive finance app, integrates wage advances, budgeting tools, and a checking account. Users can receive up to $100 in early payments, accessing their paycheck two days ahead by directing their direct deposit to the Branch checking account. While there are no fees for utilizing this feature, a $3.99 transaction fee applies for immediate fund access, with an alternative option of waiting up to three business days. Additionally, the Branch offers cash advances up to $500 through employer-paid membership.
|Early paycheck access
|$3.99 transaction fee
|Comprehensive finance tools like budgeting features and a checking account.
|Delayed fund access (up to 3 days)
|Cash advances with employer-paid membership up to $500,
|limited eligibility for cash advances in some cases
There is a limit of 30 withdrawals per month. There is a daily limit of five withdrawals of $400.
Customer data security and privacy are of the utmost importance to Branch. Data shared with them is protected by encryption and data security techniques.
The Empower app offers cash advances of up to $250, allowing users to access funds two days before their payday. Empower provides users with a dedicated debit card that grants free access to a network of 37,000 ATMs. The cash advances are automatically provided without any hidden fees or interest rates. The withdrawal limits for cash advances are determined based on the user’s financial situation and history with Empower. New users earning a minimum of $500 monthly can receive a $25 cash advance. As users build a positive financial history with regular cash advances, the total can increase to $250.
|Fees-Free Cash Advances up to $250
|Dependency on Personal Finances
|Free Access to 37,000 ATMs
|Initial Limit for New Users
|Personalized Cash Advance Limits
|Income Requirement for New Users
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The daily withdrawal maximum is $25,000; however, it might be $100,000 in exceptional situations. There is a daily withdrawal limit of $25,000, but in some cases, it can be $100,000.
Empower is committed to protecting and respecting privacy, security, and integrity. Additionally, Empower offers a Security Guarantee that covers losses incurred by unauthorized transactions that are not the account owner’s fault.
Chime, an online bank, allows users to open new checking or high-yield savings accounts within the app. One notable feature is SpotMe, which safeguards users from overdrafts up to $200 without any charges. Users can access their paychecks two days before the official payday. Chime emphasizes fee-free banking, with no overdraft fees, monthly fees, and minimum balance requirements, contributing to its appeal among users.
|No overdraft, monthly, or minimum balance fees.
|Occasional user-reported app problems.
|SpotMe overdraft protection up to $200 protection without fees.
|Full SpotMe access requires a deposit history.
|Users can access paychecks two days early.
|No physical branches for in-person services.
Transfer limits are set for Chime on a daily and monthly basis. Each transfer is limited to $10,000 per day and $25,000 per month.
The security of user information is a priority at Chime. With Chime, sensitive data is protected using advanced encryption protocols.
Payactiv offers direct and timely access to earned wages through employer partnerships. The app lets you request payday advance loans based on your already-earned wages by linking to your work timesheet. Employers automatically deduct repayments from your next paycheck. While the service is free, your employer must be a Payactiv partner for you to receive an advance.
|Timely access to earned wages through partnerships.
|Requires employer partnership for access.
|Repayments via automatic payroll deduction.
|Limited advance amount based on earned wages.
|Free service, providing cost-effective assistance.
|Dependency on employer participation.
When direct deposits are set up, Payactiv’s default withdrawal limits are $500 and $1,000, respectively. Your employer will, however, determine the maximum amount you can access.
PayActiv employs security measures to prevent unauthorized parties from accessing data. Many security measures are in place, including data encryption, server authentication, and regular updating of firewalls.
Cash App offers qualified users the ability to borrow between $20 and $200 with a 5% flat charge and a four-week payback term, including a one-week grace period. Cash App applies a 1.25% weekly finance charge on the outstanding balance if the loan isn’t fully repaid within the grace period.
Notably, the app is transparent, with no hidden fees. While Cash App loans necessitate a hard credit check from a central credit bureau and are recorded on your credit report, the platform emphasizes that your borrowing capacity is contingent on your credit profile.
|Easy borrowing from $20 to $200
|Credit check impacts credit report and score
|Transparent 5% flat fee and clear repayment
|Limited four-week repayment term
|No hidden fees
|Borrowing depends on credit profile
During 30 days, the Cash App allows you to send and receive up to $1,000.
Cash App uses encryption and fraud detection technology to ensure the security of your data and money. A PIN entry, Face ID, and Touch ID systems are also employed for added safety.
Cleo is a cash advance app that lets you borrow up to $250 at a time. Additionally, it provides services related to personal financial management. With apps like Cleo, you can obtain a cash advance of up to $100 without paying interest or checking your credit. There is, however, a monthly fee and a waiting period before users can access the funds. Cleo charges an express fee of $3.99 to fund the advance the same day.
|Cash advances up to $250
|Monthly fee and waiting period
|Interest-free cash advances up to $100
|$3.99 express fee for same-day access
|Personal financial management tools
|Limited maximum advance amount of $250
Transfers from your security deposit are limited to the amount in your security deposit. Your security deposit balance can be at most $25,000 in total dollar value.
Cleo ensures utmost privacy, allowing only the user and the app to view transactions. The platform prioritizes security by never storing credentials on its servers, encrypting transaction history, and promptly removing personally identifiable information. Importantly, banking login details are never stored, enhancing user data protection.
Like the possible finance app, klover is a mobile app that allows users to receive up to $100 in advance. The app follows a task-based model where users earn points by completing activities, like answering questions. The total points earned dictate eligibility for additional funds. Users accumulate points that convert into a corresponding cash amount by correctly answering a set number of questions.
|Quick access to up to $100 in advance
|Task-based qualification may not suit all users
|Earn points through simple tasks
|Dependency on task completion for additional funds
|Straightforward process for accumulating points
|Limited advance amount compared to some competitors
Withdrawals and deposits are allowed daily up to $250 and monthly up to $5,000.
Klover encrypts all data according to the Payment Card Industry Data Security Standard (PCI-DSS). Klover does not sell or transmit data, and only stores purchase transaction information as needed.
Varo, a digital bank, provides comprehensive banking services, including checking and high-yield savings accounts. The platform offers mobile banking solutions with features like cash flow projections, expenditure tracking, and intelligent alerts. Varo’s high-yield savings accounts have competitive APYs and no fees or minimum balance requirements. Users can enjoy a 3.00% APY with no monthly charges, and meeting specific monthly requirements unlocks an impressive 5.00% APY.
|An integrated digital banking solution
|A limited number of physical branches
|Accounts with high yields and competitive APYs
|The highest APY requires specific requirements
|Mobile platform features cash flow projections
|Limited range of financial products compared to traditional banks
The maximum amount that can be sent from Varo Bank accounts to anyone with a U.S. debit card is $250,000. It is best to check the official website for more information.
Varo uses an industry-standard encryption technology to protect customer information. With the help of multiple tools, Varo verifies identity and safeguards account information.
Which Finance Alternative is Suitable for You?
Choosing the suitable alternative to Possible Finance depends on your financial preferences. Earnin could be a good fit if you prioritize fee transparency, as it allows users to tip at their discretion. MoneyLion might be suitable for a comprehensive banking solution with additional investments and crypto trading features.
If you’re looking for a low-cost option with budgeting services, Brigit could be worth considering. Evaluate each option based on fees, borrowing limits, and any unique features offered to find the best fit for your needs. The best way to decide is to carefully evaluate your options and the pros and cons of each alternative, ensuring that the selected app complements individual financial goals while improving the overall banking experience.
Navigating the landscape of financial apps provides a spectrum of choices for users seeking alternatives to Possible Finance. Each app comes with its own set of features, fee structures, and unique offerings. Whether you prioritize fee transparency, comprehensive banking solutions, or specific functionalities like cash advances, the diverse variety of options lets you tailor your choice based on your financial needs. As with any financial decision, it’s crucial to carefully review the terms and conditions of each app to make an informed choice that aligns with your choices and helps you achieve your financial goals.