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Cash Advance For Unemployed Persons

Are you unemployed and trying to make ends meet or cover a sudden expense? If you’re looking for a cash advance for unemployed people, many options exist. Access to instant cash allows unemployed people to take care of their daily expenses while they look for job offers.
cash advance for unemployed
Cash Advance For Unemployed Persons
Securing instant cash when unemployed may be challenging, but don't worry because, like they say today, "There's an app for that!" Let's explore the best options for cash advance for unemployed persons.
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Getting quick access to funds becomes crucial when you’re unemployed and facing financial challenges. Options for cash advance for unemployed persons are a lifeline as they provide immediate money without needing a job or a good credit score.

These services are designed to bridge the gap between paychecks, preventing late fees and ensuring you can meet essential needs.

Whether to cover unexpected expenses or manage daily costs, cash advance solutions cater to those navigating temporary unemployment, offering a straightforward and accessible way to secure the financial support needed during challenging times.

So, let’s uncover the best cash advance for the unemployed.

Best Cash Advance For Unemployed Persons

When facing financial challenges, unemployed individuals may find relief through cash advance apps. These apps provide quick access to funds, helping cover immediate needs. Let’s explore some of the best options available, their features, and their pros and cons.

1. Beem

Beem stands out for its versatility. It offers quick money accessible to anyone, even without the Beem app or a specific bank account. It effortlessly handles various transactions such as money transfers, gift cards, and prepaid cards.

Features

Everdraft™ Feature: Enhances transaction capabilities.

Diverse Recipient Options: Gift cards, prepaid cards, bank transfers, instant debit card transfers.

Pros

Fee-free fund transfers

Incorporated spending trackers

Well-regarded among industries like hospitality, manufacturing, and healthcare

2. Chime

Chime is a finance app known for ExtraCash™, which provides up to $500 in short-term loans with optional tips. It also offers fee-free banking, no overdraft charges, and free ATM withdrawals at 32,000 spots.

Pros

No interest

Tips on earning extra

Alerts to prevent overdrafts

Cons

$1 monthly membership for advances

Short repayment terms

3. Dave

Dave is another finance app offering up to $500 in short-term loans with optional tips. It provides fee-free banking, no overdraft charges, and free ATM withdrawals at 32,000 spots.

Pros

No interest

Tips on earning extra

Alerts to prevent overdrafts

Cons

$1 monthly membership for advances

Short repayment terms

4. EarnIn

EarnIn allows withdrawals up to $750 each pay cycle, offering flexibility without charges, interest, or the necessity for an additional debit card.

Pros

Withdrawals possible up to $750 per pay cycle

Absence of credit checks or interest fees

No requirement for an extra debit card

Cons

Necessitates validation of work timesheets

Tailored for consistent pay cycles, restricting applicability for freelancers

5. MoneyLion

MoneyLion, a mobile finance app, offers various financial services like checking accounts, loans, and investments. Its Instacash feature provides fee-free cash advances up to $500 at 0% APR, with Turbo delivery for quick access. 

Pros

0% APR cash advances

Multiple financial products for higher advances

Turbo delivery for quick cash access

Cons

Partial withdrawals if full repayment isn’t possible

$1 monthly membership fee

6. Brigit

Brigit, much like Chime, provides paycheck advances up to $250, preventing bank overdraft fees. For $9.99/month, users access credit monitoring, identity theft protection, side gigs, and credit builder loans.

Pros

Up to $250 advances without credit check or interest

Avoids overdraft fees with automatic advances

Cons

$9.99 monthly fee for most features

Requires bank account access

7. Empower

Empower is an app offering instant paycheck cash advances up to $250 and credit lines up to $1,000. Cash advances have no fees or interest, while credit lines can have a 35.99% APR. The Empower Debit Card offers up to 10% cashback rewards on purchases.

Pros

Interest-free cash advances, no fees

Flexible eligibility, no credit check

Cons

Cash advance limited to $250

$8 monthly subscription

8. Klover

Klover offers Chime users cash advances of up to $100. In addition to advances, it offers spending insights, overdraft protection, and a points system to boost borrowing limits.

Pros

No mandatory fees

Avoids overdrawing accounts

Cons

Limited $200 advances

It takes three days for funds

High fast-funding fees

9. PayActiv

PayActiv offers a $200 minimum per pay period or 50% of earned wages, providing low-cost paycheck advances without needing a bank account, secure bill payments, and Financial Guidance.

Pros

PayActiv Visa card available

Access to earned wages

Savings features included

Cons

An employer must provide access

Limited to 50% of earnings

10. Current

Current offers an online bank platform, but its cash advance options may be limited compared to other specialized apps.

Pros

Streamlined online banking platform.

No minimum balance requirement.

Access to high-interest savings.

Cons

No wire transfers.

Customer support may not be available 24/7

11. Varo

Varo, an online bank like Chime, provides a debit card, high-interest savings, and an extensive ATM network. Eligibility for a cash advance (up to $100) hinges on having an active Varo account for 30 days and receiving $1,000+ in direct deposits within 31 days.

Pros

No minimum balance needed

High APY for savings (if requirements are met)

Seven-day chat support is available

Cons

High-yield savings linked to checking

No wire transfers

No 24/7 customer service

12. Albert

Albert is a highly recommended cash advance app compatible with Chime, offering comprehensive money management for free. It integrates banking, budgeting, saving, and investing, providing advances from $100 to $250 based on income. 

Pros

No interest or late fees

No membership is needed

Cons

Customer service via email or text is sometimes challenging to reach

13. DailyPay

DailyPay offers an on-demand pay solution granting employees access to earned wages before the standard payday. This platform serves diverse businesses, yet instant transfers can be costly despite accurately tracking hours and wages.

Pros

Accurate hours and wage tracking

Ability to add offers to your Cash App card

Cons

Instant transfers can be expensive

Delayed availability contradicts the name

14. Possible

Possible Finance, an online lender, offers short-term installment loans up to $500. Because credit checks are not required, it’s accessible to those with bad credit. However, weighing the pros and cons before opting for Possible Finance is essential.

Pros

No credit check for accessibility.

The repayment period extends up to eight weeks.

Reports payments to major credit bureaus for potential credit score improvement.

Cons

High APR, reaching up to 460%.

Considerably higher costs compared to traditional loans.

15. SoLo Funds

SoLo Funds provides community-based funding where members can lend and borrow from one another. You can create your loan request, and members can review your proposed terms and choose whether to accept your offer.

Pros

Control over fee amounts

No interest

Can build credit with payments

Cons

Maximum $100 limit for new members

Single repayment term

Significant late penalties

16. Vola Finance

Like Brigit and MoneyLion, Vola Finance provides loans up to $300, a credit builder program, and tools for bank balance monitoring. The Smart Alert feature prevents overdraft fees by notifying users of low balances. If you want loans more than $300 and with other financial features, you can try other best apps like vola finance.

Pros

Advance amount independent of working hours.

Offers financial literacy tools.

Alerts for low bank balances.

Cons

Limited maximum advance of $300.

Access to membership tiers and costs requires signing in to the bank account.

17. Branch

The apps like branch enables cash advances up to $500 through “Instant Pay” without membership or advance fees. Instead of interest, users can choose to leave a tip. For instant advances withdrawn on payday, they charge between $2.99 and $4.99.

Pros

No advance fee unless it’s an instant withdrawal

Absence of membership fees

Cons

Limits on advance amounts

Requires a supported debit card

Not suitable for remote employees

18. FloatMe

FloatMe is a cash advance app that lets people borrow up to $50 between paychecks. There’s no credit check or interest, and you can get the cash you need in just a few minutes. However, to use the FloatMe app, you’ll have to pay a membership fee. If you are looking for apps like floatme with no membership fee, you can try payactiv

Pros

No interest

Ability to receive cash in minutes

Can help build emergency funds

Cons

Users must pay a membership fee

Paycheck direct deposit required

Users can only borrow up to $50

How To Apply for Cash Advance Apps For Unemployed Persons

Securing a cash advance when unemployed may seem challenging, but certain apps cater to your needs. Follow these straightforward steps to apply for cash advance apps and access quick funds without the hassle of traditional loan processes.

How to Apply for Cash Advance Apps For Unemployed

Inquiry: Submit a form with basic personal information.

Credit Check: Some apps may check credit, while others don’t.

Pre-Approval: Qualify with alternative income proof if jobless.

Loan Offer: Receive an offer with terms.

Agreement: If satisfied, sign the loan agreement.

Funding: Linked bank account receives direct deposit.

Other Ways To Get Money in Your Bank Account When Unemployed

If you prefer something other than cash advance apps, there are alternative ways to secure funds in your bank account, especially when unemployed. Government benefits and other assistance programs can be valuable resources during challenging times. 

Government benefits like Unemployment Benefits provide monthly funding for those seeking permanent employment, while Worker’s Compensation supports those with job-related injuries. 

Additionally, individuals with a 401k or Retirement Fund can access significant funds, and Child Support Payments offer financial assistance for single parents caring for their children based on their ex-spouse’s income. 

Conclusion

In conclusion, whether you opt for cash advance apps or explore alternative avenues, the goal remains the same: to alleviate financial strain during unemployment. While cash advance apps for unemployed persons offer quick solutions with diverse features and offerings, government benefits and other assistance programs serve as reliable options for those seeking stability. By understanding the available resources and navigating various options, individuals can find the necessary support to manage expenses and weather financial challenges during unemployment.

Remember, you can always try Beem to find the best loan offers to consolidate your debt and stay ahead of your financial management.

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Author

Picture of Raman Gujral

Raman Gujral

An achievement-oriented professional, Raman has 10+ years of experience in B2B SaaS and B2C products across Fintech, Telecom, Digital Media, Social Media and Logistics domains. Defining and communicating product vision and strategy, product roadmap development, product positioning, and data analysis, he is also an expert in health insurance and personal loans content.

Editor

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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