If you use Chime and you’re looking for a payday loan app that is compatible with it, then this article is for you. Payday loan apps help you pay for your emergency expenses ahead of your next paycheck.
Chime is a financial service platform, not a bank; however, it does offer some banking products through Stride Bank or Bancorp bank.
Users get to operate a secured account and request a Chime Debit Card. Your Chime Bank spending account can be used to receive Direct Deposit paychecks.
Chime Benefits
One major advantage of Chime over conventional bank accounts is that your direct deposit payments are processed faster than traditional banks, allowing users to get their paycheck up to two days earlier. Users are also free from monthly and overdraft fees that are associated with traditional banks.
Chime Payday Loan
Chime doubles as a cash advance app that offers payday loans to users. If you have emergency needs ahead of your next payday, you may apply for a Chime payday loan and get a cash advance as direct deposit to your checking account.
Chime’s payday loans are no-interest loans and the principal will be deducted from your account automatically when your next paycheck arrives.
Why You Might Want Other Cash Advance Apps
There are other payday advance apps that you may use for payday loans instead of Chime for several reasons.
For instance, even though Chime can give you a cash advance of up to $200, you can only access $20 for your first loan. This is lower than what you get on other platforms.
In addition, cash deposits are sometimes difficult on Chime and online transfers have a daily limit. Due to these reasons, a lot of people prefer to use other payday advance apps and connect them to their Chime bank account
Of course, since not all payday advance apps are compatible with Chime, you might want to look out specifically for apps that are compatible with this platform. Here are a few cash advance apps that work seamlessly with Chime.
1. Dave
When it comes to payday advance apps that connect to your Chime account, Dave is one of the most popular options. The app works great with Chime and gives you access to a zero-interest cash advance of up to $250 to be paid from your payday check.
Users can get a loan on Dave regardless of their credit score since no credit history check is carried out. When you set up a direct deposit with Dave, you can get up to $200 in cash advance.
You can also get an advance of $100 when you link an external bank account, such as Chime, to your Dave account. The minimum membership fee for Dave is $1 monthly and there are no interests or extra fees on loans, making this app one of the cheapest options that link to your Chime bank account.
Even though no credit check is carried out on your account before you can get a loan on Chime, the exact loan amount you’ll be able to get depends on your expected income for the month and your transaction history for your Dave bank account in the past two months. It is also determined by how well you have been able to pay your previous loans on Dave and the amount of money in your account at the time of application.
How to Connect Chime to Dave?
You can connect to Chime through the profile tab of your Dave account. Navigate to the profile tab and select the “Linked Banks and Card” option.
Next to the Linked Bank option, you’ll find the “Change” button. This is where you can change your linked bank. Next, you’ll be prompted to choose a bank, so select “Chime” from the list of payday advance apps provided to complete the setup and link your Dave account to the Chime platform
2. Cleo
Cleo is another popular money management app that can be linked to Chime quite easily. You can use Cleo to budget your expenses and track your spending. Additionally, you can get quick financial aid in the form of a payday loan ahead of your next payday through this cash advance app. You can apply for a no-interest cash advance, which will be automatically deducted from your checking account on payday.
Cleo has both a free and premium package. Many of the app’s functions are accessible to free users; however, only customers on the premium package (which costs $5.99 monthly) can get access to the cash advance feature.
Cleo is a payday loan app that works seamlessly with your Chime account. You can apply for and get a cash advance from Cleo on the same day for a small token of $3.99.
Nonetheless, if you do not want to pay this fee, you’ll have to wait four days for the loan to be delivered to your Chime checking account.
How to Link Chime to Cleo
In order to link your Chime account to the Cleo app, just search for Chime in the search bar at the top of the app. You’ll be prompted to provide your login details for authorization. The repayment period of Cleo loans varies between 3 and 28 days. You must pay back the previous advance before you are allowed to apply for a new one.
3. Albert
Albert is a financial service app that works great with Chime. Through this app, you can get a cash advance of up to $250 with no interest charged.
Albert also doubles as a money management tool. You can use it to analyze your income and manage your spending habits. In addition, you can link a savings wallet to this app and move your savings into the wallet automatically.
Albert offers a free plan as well as a premium service. The premium package, known as the Albert Genius, costs $4 per month. Users who sign up for this package get access to personal finance tips and financial advice from experts. They also get a reward of 1% on all their savings and investments.
You can get instant access to $100 when you open an account on Albert. The standard delivery time for this loan is three days. Though, if you’re an Albert Genius subscriber, you can pay $3.99 for instant delivery of your cash advance. Free users can also get instant delivery of the loan for $4.99.
Of course, there are some basic prerequisites that must be fulfilled to get access to a payday advance on Albert. First, you must have a verifiable source of income via direct deposit. Also, your income must be consistent for at least two months before your application and must also arrive on a predictable date.
How to Link Chime to Albert
Since Albert is compatible with Chime, you can receive your cash advance directly into your Chime account. To do this, navigate to the “Budget” tab on the app and select Chime to add your account to the app.
4. Varo
Varo is a financial service platform that is similar to Chime in several ways. The app offers several services, including a debit card with full access to an ATM network. Users can also save money with Varo and enjoy an interest rate of up to 3% on the savings.
With Varo, you can get a cash advance of up to $100. Nevertheless, there are some stringent requirements to get this payday loan. First, this offer is only available for users whose accounts have been active for at least 30 days. Second, your account must have received direct deposits of at least $1000 within the past 31 days. The pay period for a cash advance on Varo is between 15 to 30 days.
Varo does not charge interest on its cash advances; however, you will be charged a fee of up to $5 if you take out the maximum cash advance amount of $100. The fee reduces if you take less money. You’ll pay $4 for $75 and $3 for $50. For cash advances of less than $20, there are no fee requirements. Aside from this fee, you will not be charged any other transaction fees on Varo.
How to Link Chime to Varo
Since Varo has a debit card for direct withdrawal, most people who get a loan through this payday loan app will simply withdraw the money directly from their account. If you choose to use Chime instead, the process of connecting your Varo app to your Chime spending account is straight forward. You’ll simply click on the “Link an Account” option on your Varo app, then select Chime from the list of options and log in.
5. MoneyLion
The MoneyLion app is a full-fledged mobile banking platform with loads of features for users. One of the main packages offered by the platform is the cash advance option known as Instacash.
The main requirement to qualify for a cash advance on this platform is having a recurring income. The maximum amount of cash advance users can get based on the size of their direct deposits alone is $250. Users can further extend their cash advance limit by completing certain tasks on the app, such as signing up for a Credit Builder Plus membership. The paycheck advance amount may also be less depending on the size of your income.
How to Link Chime to MoneyLion
Like Varo, MoneyLion has a debit card, meaning users can withdraw their cash advance directly from this payday advance app using the MoneyLion card. You can also take out your advance by connecting your MoneyLion app to your Chime account. To connect your Chime, navigate to the “Transfers” tab and click the “Add Account” option. You’ll be prompted to select the account you want to connect to your MoneyLion App. Choose Chime and log in to add the account.
Conclusion
In addition to the apps mentioned in this review, some of the other advance loan apps that work with Chime include Klover, Earning, Possible, and Branch. Each of these apps have their specific requirements. Possible, for instance, is only available in 20 states. Be sure to check out the features of these apps to find what works best for you.
FAQ
What Payday Loan Apps Work With Chime?
Chime works with different types of financial and payday advance apps. You can apply for payday loans through a different cash advance app and transfer your funds to Chime. Examples of cash advance apps that can be connected to Chime include Dave, Cleo, Empower, MoneyLion, Varo, Albert, and so on.
Does Brigit Work With Chime?
Brigit is a financial technology company that offers budgeting features as well as advance cash options for payday lenders. The Brigit app works with more than 6,000 banks and credit unions. You can easily locate your bank by using the Brigit search form.
However, at the moment, Chime is one of the banks that are not currently supported on the Brigit platform due to connectivity issues. If you’re a Brigit user and would like to connect your bank to your account, then you might have to consider an alternative to Chime Bank.
What Apps Like Dave Work With Chime?
Dave is one of the most popular cash advance apps that work with Chime. Users can get payday loans and personal loans on this platform with no credit check. Nevertheless, there are several other apps like this that connect seamlessly with Chime. Some of the other payday apps that work with Chime include Varo, MoneyLion, Cleo, Albert, Empower, and so on.
Does Chime Offer Cash Advance?
Yes, Chime does offer cash advances of up to $200. However, this is only the maximum amount that existing users can get on this payday advance app. For new users, you’ll only be able to get a cash advance of $20 at first.
Thus, as you do more transactions with Chime and build your account history, you’ll get access to higher loan limits and will be able to apply for the maximum loan amount of $200.
Can You Use the Dave App With Chime?
Dave is one of the most popular cash advance apps that makes it possible for users to link their account to Chime. Users trying to connect Dave with Chime rarely experience any issues. If you’re looking for an alternative platform to get loans for small expenses that can be linked to Chime, then this app is one of the best options you should consider for this purpose.
