How quickly can I get my cash advance?

How quickly can I get my cash advance?

Like Even Instapay, Branch is a tool that employers can use to allow employees to access their wages as soon as they are earned. What makes Branch great is that it is also set up for people who employ gig workers and independent contractors.

In addition to on-demand payments, Branch also offers resources like tip and mileage trackers to help with reimbursements, off-cycle payments, etc.

Axos Bank Direct Deposit Express

Axos Bank has grown quite a lot in popularity over the last couple of years. This is probably because of its Direct Deposit Express. While not a cash advance app, Axos Bank’s Direct Deposit Express helps you get your paycheck a couple of days earlier than you usually would. Usually, banks make you wait to access your funds until after your paycheck has cleared. Axos deposits the amount of your paycheck into your account as soon as they get notified of an incoming direct deposit. Then they just keep your deposit when it clears. Viola! Payday a few days early!

What is a cash advance app?

A cash advance app – also sometimes called a payday advance app – is a mobile app that will send you money to help you cover your expenses while you’re waiting for your next paycheck. When that next payday arrives, the app will automatically deduct the amount of your advance from your deposit.

These apps are available on both iPhone (iOS) and Android smartphone systems. Many even have traditional websites you can use if you’re not entirely sure you want to use your phone.

How do cash advance apps work?

Cash advance apps are tools that allow users to access money that they know is going coming but hasn’t been deposited yet.

The user sets up an account on the app. This process usually involves some sort of identification verification. For example, you may be asked for the following:

  • Identification (name, SSN, date of birth, etc.)
  • Contact information (address, phone, email)
  • Place of employment and/or employer

Once you’ve verified your identity, you’ll connect the app to your bank accounts. …