In today’s fast-paced world, managing your finances on the go has become essential. With the rise of cash advance apps, you can easily access funds whenever you need them without going through the traditional banking process.
However, some cash advance apps require you to link your bank account through Plaid, a well-known banking integration platform. If you prefer not to use Plaid or if your bank does not support the platform, you have nothing to worry about. There are still several cash advance applications available that do not use Plaid.
Let’s know a little about Plaid
Plaid’s function is to allow you to link your bank accounts with third-party applications, with this alternative you can connect to your account using your login credentials within applications such as Venmo and Chime.
It is responsible for encrypting your data to connect to the bank and allow you to use the application with your banking data, usually include:
- Your account number and routing
- Your transaction history
- The balance available in your bank account
- Personal loans and credit cards
- Identity information
- Investment holdings
Cash advance apps that don’t use Plaid that you should be using right now
https://www.youtube.com/watch?v=TNOrawINNKA
Most cash advance apps require you to have a Plaid account, this wasn’t an issue until 2020, when the platform faced a lawsuit due to certain customer data privacy issues. Therefore, it’s understandable to seek an alternative that doesn’t require Plaid.
Cash App
Cash App is a popular mobile payment service that allows you to send and receive money, but also offers a cash advance feature. To use Cash App you don’t need to link your bank account through Plaid. Instead, you can add funds to your Cash App account from various sources, such as your debit card or bank account.
Once you have funds in your Cash App account, you can easily request a cash advance that will be deposited directly into your Cash App balance.
Cash App also offers a Cash Card that allows you to make purchases with the funds in your Cash App balance anywhere Visa is accepted. It should be noted that while some users believe that Cash App works with Dave, this is not the case.
MoneyLion
MoneyLion is a financial services platform that offers a wide range of features, including a cash advance program. With MoneyLion you don’t need to link your bank account through Plaid to access a cash advance.
Instead, you can easily request a cash advance through the MoneyLion app and the funds are deposited directly into your MoneyLion checking account.
MoneyLion also offers various other financial services such as a virtual MasterCard debit card, investment options and credit monitoring.
Dave
Dave is a personal finance application that provides cash advances and other financial tools. Unlike many cash advance applications, Dave does not use Plaid to link your bank account. Instead, you can link your bank account manually by providing your account and routing numbers.
Once your bank account is linked, you can easily request a cash advance through the Dave app. Dave also offers other features such as budgeting tools, automatic savings and overdraft protection.
Even
In this case, it is a budgeting app with different features that allow you to access free advances on already earned wages through its InstaPay feature. The said feature is available in the premium version of the app for as low as $6 per month.
One of the great benefits of Even is that you don’t need to connect to your bank account or use Plaid to get the cash advances you need. With Even you can access 50% of your earnings before payday.
DailyPay
The DailyPay app is similar to Even, its service is sponsored by the employer, i.e., the employer is the one who allows you to access wages through DailyPay. The account setup is done by the employer, they will provide you with a bank account, a prepaid debit card and a payroll card that allows you to send funds.
That way, you do not need to connect to Plaid to make the connection with the bank.
However, you should be aware that because of the process required to set up your account, your employer will always know the amount of money that has been advanced to you and will deduct it from your next paycheck.
B9 advance
With B9 advance you have a cash advance application that is membership based so you can access up to 100% of your paycheck, this is possible once you properly set up your account.
With the basic account, you must pay a fee of $9.99 and you will be able to withdraw up to $300 each pay cycle. Although you need to set up your checking account to receive your direct deposits, at B9 you can use Argyle Systems instead of Plaid.
However, it is essential that your employer uses Argyle Systems to opt-in to this option, as they are responsible for managing your data.
References
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“0% APR Cash Advances | Instacash | MoneyLion.” MoneyLion, https://www.moneylion.com/instacash/?
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“Cash App – Do More with Your Money.” Cash App – Do More with Your Money, https://cash.app
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“Earned Wage Access App | Get Paid on Demand | Even.” Earned Wage Access App | Get Paid on Demand | Even, https://www.even.com
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Finansheally. Top Cash Advance Apps That Doesn’t Use Plaid in 2024 | Best Cash Advance App That Doesn’t Use Plaid. YouTube, https://www.youtube.com/watch?v=TNOrawINNKA.
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“On Demand Pay Provider – DailyPay.” DailyPay, https://www.dailypay.com