The world has advanced so much that you no longer need to turn to your bank for small loans. So if you are seeking an option that will give you that couple of dollars you need in a short time, instant loan apps are your lifeline.
There is a considerable amount of this type of platforms in the market. You just need to know their offers (please, don’t skip the terms and conditions) and their eligibility requirements, so that in a matter of minutes (or hours) you can pay that small repair you have to do.
How can I borrow money immediately?
Would you believe it’s as simple as just downloading an app and that’s it? Well, it’s a little more complex than that, but it’s the first step. In some cases, it will take you a couple of minutes, so have the following information ready:
- Contact information: mailing address and valid phone number
- Personal information: first name, last name, social security number, and address
- Banking information: main bank account, payday, and financial activity.
This information will be used to create your user and, in some cases, will also be enough for you to complete the account verification process. This last requirement can be the most tedious, as some apps require you to add your main bank account to enjoy more benefits.
Similarly, some apps require you to subscribe with a monthly payment that varies depending on the platform or charge you an Express Fee if you need the money right away.
Each one has its conditions, so the best thing you can do is to carefully review their rules of use so that you can enjoy instant money without too many worries.
Two apps that really offer instant money
Many of these platforms offer you the option to receive cash advances or instant cash in a matter of minutes. But once you download them, minutes can turn into hours or, at worst, days, so you better not need that $50 right now.
Yes, this phrase is a hook, and there have been a significant number of cases reported in which some users take advantage of the services of these apps and end up committing fraud.
Therefore, at first the “instant” is not so “instant”. Here are a couple apps where you can enjoy money the same day you install the app on your device (remember: familiarize yourself with the terms and conditions).
Cleo is an AI-driven app that can be a lifesaver if your paycheck is far away. While it offers Cleo Plus, which is a subscription service for as little as $5.99 and allows you to enjoy benefits like Cashback and overdraft protection, there’s also the Salary Advance option that gives you the chance to receive up to $100.
This service is included in the monthly subscription, but if for now, you are uncertain whether or not you want to subscribe, send a request to email@example.com. In it, you should explain why you want to use Salary Advance without being part of Cleo Plus.
Once you send the email, you will be accepting the terms and conditions of the payment. Don’t worry, it does not generate fees, if you need the money in less than 24 hours; otherwise, you will have to pay $3.99 for Express Fee, on the repayment day you have established (14 days from the day of the request).
Unlike the previous one, Pockbox is an app that allows you to apply for loans up to $2,500 from its list of verified lenders. In case you need cash, you can apply for $100, but this will all depend on your financial history.
Plus, it’s super easy to use. Just take a few minutes, provide your personal and financial information, and that’s it! The app will show you those offers that match the data you shared, considering the interest rate, the amount you need, and the payment terms.
Once you sign some requirements and commitments, within a few hours or the next business day you will have the money or that $50 you need.
$50 instant loan app without a bank account
Is this possible? Well, not really; you are going to have to register or associate at least one bank account with the app you wish to use. What is possible is that some platforms offer Instant loans with the no-credit-checking option.
These are designed for those who have been careless with their finances. In general, offer services that will help them improve that small defect that eventually brings financial problems (if you are one of them, it is time to put your accounts in order).
Chime works in partnership with several national banks to offer you a range of financial products. One of them is SpotME, which offers you the opportunity to overdraw your account without any fees. In addition, Chime also works with apps such as Venmo.
At first, you will only be able to access $20, either through debit card payments or cash withdrawals, but depending on your history in the app or with one of its products, the limit will increase to up to $200.
Albert is an app that allows you to receive up to $250 from your nearest paycheck, an amount that you will have to pay once you receive your salary.
This platform does not charge extra fees either, unless, like all the others, you need the money as soon as possible. To enjoy it you must meet certain requirements such as the review of your bank account and the transactions you make with the Albert Cash account.
Why can’t I borrow $50 from Cash App?
Most likely, this is because you have made a mistake in the data you provided or the app simply considers that you are not yet eligible for this type of service.
These are not the only apps available, there are many more that offer similar services and even a little more. While these are available both in the Google Play Store and the App Store, you can check others that seem better.
“Chime.” What Is SpotMe®?, https://help.chime.com/hc/en-us/articles/5438300132631-What-is-SpotMe-
- “How It Works – PockBox.” PockBox, https://pockbox.com/how-it-works/
- Porter, Alexander. “How to Borrow $50 Instantly (Get Fifty Bucks Right Now).” Overdraft Apps, https://overdraftapps.com/how-to-borrow-50-instantly/