What Is Chime?
Chime is an online-only financial service provider designed to make your transactions more convenient and efficient. Unlike traditional banks, Chime doesn’t have a physical location and exists solely on the internet, which presents several advantages. Because the company has no buildings and equipment overhead, you will enjoy higher deposit interest rates and lower service fees. Your transactions will also be faster, as all processes will be conducted online.
Additionally, this means that Chime can give you many unique features, such as integrations with other online-only cash advance apps.
How Do Cash Advance Apps That Work With Chime Operate?
One of the best features of Chime is its ability to function seamlessly with cash advance apps.
Cash advance apps are exactly what they sound like: they provide cash advance services, the alternative credit lines people can rely on in an emergency. With apps like this, people can apply for a small loan (from $50 up to $500) quickly, without all the hassles and credit requirements of getting a loan from traditional banks. The loan amount will be automatically repaid when they receive their paycheck.
10 Handy Cash Advance Apps That Work With Chime
Here we rounded up the top 10 cash advance apps that work with Chime for those who need some quick and easy cash to cover urgent expenses.
First on our list is Albert: a no-interest, no hidden-charge app that integrates well with Chime to process your small loans near-instantly. With this app, you can pick either the express version, which charges a service fee, or the free version, which will take two to three days to process.
Branch is a fintech app that aims to make cashless workforce transactions as easy as possible. You can pay salaries, tips, and commissions through the press of a button, removing cash flow monitoring and constant trips to the bank, with the ability to pay in advance depending on your schedule.
Bringing a unique take on how you approach money, Cleo is a money app with a conversational interface designed to improve your relationship with your finances. With Cleo, you can budget, save, build credit, and borrow money without hassle, and its unique interface will make caring about your money more interesting.
Another money app that can be fully integrated with Chime is Brigit, an intelligent budgeting and expense tracker app. Utilize Brigit’s superior tracking and analytics capabilities to figure out trends and how you use your money, and its various cash advance features to help you build credit healthily.
Specifically designed for college students, KORA is an iOS app that lets you access a digital card, giving you the convenience and perks that high-powered college life demands. You can use your card to pay by loading money from your bank or using KORA’s spot-me feature that lets you get cash in advance.
MoneyLion supercharges your finances through super convenient features such as cash advances, saving, investing, and even earning – all from one platform. This app helps you to enrich your financial life by giving you more than everything you need to succeed, all through a super sleek and convenient interface.
This financial-wellness app presents you with a healthier way to the bank. Varo offers traditional services, such as opening bank and savings accounts. However, they also offer cash advances calibrated for your repayment capability so that you can borrow only what you can afford to pay. They also have a credit-builder feature called Varo Believe.
Empower does precisely as its name suggests. They specialize in helping their users attain a better credit score by providing healthy loans, cash advances, and credit builders explicitly based on your needs and ability to pay. They also offer no interest, late fees, credit checks, and even 0% APR on some products.
Earnin aims to bridge the gap between the moment you earn and your payday. By giving you access to a line of credit proportional to what you will receive on salary day, you can regularize your finances and help build better money habits. Access your entire paycheck up to two days in advance with this app.
Lastly, Payactiv is a financial wellness app that can fully integrate with Chime. With Payactiv, you can get your work’s earnings right when you earn them, without waiting for payday. You can use your accessible earnings to fund emergency expenses or save money.
How Much Do You Want?
Should I Keep Using Chime?
As mentioned above, Chime is an online bank that seeks to make financial access more convenient and streamlined. Service packages from this company allow you to easily access financial features such as bank and savings accounts, ATM networks, and quick registration and account opening.
Of course, Chime is not for everyone. If you don’t mind transacting on the bank, you don’t have to keep on using this app.
However, for people who don’t want to stress about how they move and use their money, Chime is an ideal app because it helps save time and mental energy. Plus, it also connects to other cash advance apps that make you more flexible about finances.
Are There Any Alternatives Other Than Cash Advance Apps?
If you’re not too keen about using a digital bank such as Chime, don’t worry. There are other alternatives to this nifty app, especially if you’re after the cash advance feature.
Online services such as US Installment Loans are a great way to be more flexible about your finances by availing of the different types of loans they offer. Here are some of the most popular loan services you can get through the network of trutable licensed lenders at US Installment Loans:
- Payday loans - Just like cash advances, this type of loan is the instant financial solution you need when you have not yet gotten your paycheck, with loan terms depending on the online lender’s assessment of your account, usually up to one month.
- Title loans - Title loans use titles of essential assets such as cars, houses, motorcycles, etc., to serve as collateral for loans.
- Installment loans - These loans let you borrow and pay what you owe in monthly payments. Depending on your repayment abilities, pre-arranged installments range from weeks, in some cases, up to seven years.
Online services such as US Installment Loans are accessible, with convenient processes that can transfer your money in just one or two business days. Best of all, they don’t conduct hard credit checks and cater even to customers with bad to no credit.