You get up in the morning assuming it will be a normal day, but suddenly your car decides to stop working. The electricity bill arrives, and it’s much more than expected. Payday is still a ways off, and you lack the necessary money to handle your expenses.
That’s where best cash advance apps like Cleo enters the picture. Cleo provides interest-free cash advances to help you get through tough times without sinking you deeper into debt.
Although many people are satisfied with the Cleo money app, this doesn’t necessarily mean that it’s the only plausible choice for you as well.
You may require a solution that provides higher cash advances or secured loans. Maybe you need money immediately and don’t have time to wait the normal three days for Cleo to process your request. As a result, we have compiled a few potential alternatives for the Cleo money app that might be more suitable for your needs.
Table of Contents
What is Cleo?
Cleo is a famous AI-enabled budget tool that has helped many people by making it easier for them to keep track of their money. Cleo is a digital assistant that assists its users in saving more money and spending less frivolously.
it has been called the “Siri of personal finance.” This paycheck advance app is driven by artificial intelligence and has a lot of interesting features that keep users intrigued and, eventually, help them save funds.
If the user has enabled automatic account sync in the Cleo money app, the platform will be able to collect and analyze user spending habits by linking to the user’s multiple accounts.
After gathering sufficient information, the app will advise the customer on how to effectively reduce costs while maintaining an appropriate level of human connection. Cleo’s digital wallet app function allows you to safely store and quickly access your hard-earned cash.
9 Best Cash Advance Apps Like Cleo
For nearly a decade, Chime has provided its customers with a digital bank account that allows them to make deposits, send money, pay bills, and even get a paycheck in advance when they’re short on cash.
Unlike the top loan app like Cleo, which charges $1 a month just to keep your account active, and Express, which charges you anywhere from $2 to $5 to handle your cash advance quickly, Chime is entirely free. There are no monthly charges, minimum balance requirements, or other hidden costs.
Chime can provide you with a loan of up to $100 till your next paycheck arrives. If you have a good payback history, Chime’s Spot Me function will allow you to overdraw up to $200.
Chime also offers a Visa debit card, which may be used at no additional cost at any of the more than 38,000 Visa Plus Alliance merchant locations or Visa ATMs spread across the country.
Chime is available on both Android and iOS for free.
When looking for alternatives to payday loan apps like Cleo, one of the finest cash advance apps like Cleo is Brigit. You can get a loan and then repay it when your next salary arrives. Unlike Cleo, which limits cash advances to $100, Brigit enables cash advances of up to $250.
Additionally, Brigit permits you to extend the payment schedule on your initial loan without additional fees if you need to.
More frequent usage of the service means more extension credits, which can be used to delay loan repayment for up to three additional consecutive periods. Brigit, like Cleo, requires a membership subscription, but the cost and perks are very different.
Brigit is available on both Android and iOS for free.
If you’re looking for an alternative to a payday app like Cleo when dealing with unforeseen financial obligations, MoneyLion is among the best cash advance apps like Cleo that helps.
Depending on how much money you get paid monthly and how much you deposit into your bank account each month, the service can lend you up to $250 in a matter of hours.
MoneyLion offers the quickest cash advance process of any mobile app. If you have a RoarMoney account, you can even get the money within a few hours.
Cash advances from MoneyLion do not incur any fees or interest. To keep MoneyLion interest-free and accessible to as many people as possible, the company instead suggests a voluntary tipping system for users who take out cash advances.
There is no risk to your credit score or rejection of your loan application because of your credit history as MoneyLion does not conduct credit checks on its customers.
MoneyLion is available on both Android and iOS for free.
Interested in a payday loan, but you’d rather avoid interest and fees? Empower can help you get up to $250 in emergency funds to help you pay your bills and other needs.
Money borrowed through the platform can be deposited into your Empower savings account for free or into another bank account for a flat price of $3.
The Empower card allows you to make free withdrawals from more than 37,000 ATMs across the United States. Making monthly direct payments into your Empower bank account is all that is required to receive and keep getting cash advances from Empower.
Empower doesn’t check your credit or impose late fees if you can’t make your loan payments on time, which is another perk of using their service.
Empower is the best option among cash advance apps like Cleo because it offers 10% cash back on purchases at hundreds of different retailers, including supermarkets, petrol stations, and restaurants.
You may set it and forget it, and your savings, budget, and investments will be managed automatically, with detailed data on your monthly spending and insightful suggestions.
Empower is available on both Android and iOS for free.
Read Also:- How To Develop a Peer-to-Peer Payment App like Cash App?
A Branch is among the finest cash advance apps like Cleo on the market right now. The program is meant to assist employees by providing them with more timely access to their money, the ability to monitor their spending habits through regular reports and notifications, and the ability to avoid late payment fees.
When a company has a significant number of employees who do not have bank accounts, a payday app like Cleo might be a great help. It gives individuals access to a debit card and digital bank account at no cost.
Branch allows you to take up to $500 in advance per payment cycle, or $150 per day, based on the number of hours you work and the amount of money you earn.
However, in order for you to use Branch, your employer must also create an account. While both Branch and Cleo prioritize fast payments and customer happiness, Branch is completely free to use and does not require a membership.
The ability to keep track of earnings communicate with coworkers, and even transfer shifts are just a few of the features of this paycheck advance app that can help you better manage your work and personal lives.
Branch is available on iOS for free.
One of the greatest alternatives to cash advance apps like Cleo is DailyPay, which allows you to pay for unexpected expenses when you’re short on cash without incurring costly overdraft penalties.
When you use DailyPay to secure a cash advance, you can avoid paying over loan interest and late penalties. DailyPay will automatically deduct the advances from your next paycheck, but you can withdraw the earned amount whenever you like.
The app’s $1.99 withdrawal fee is low, especially considering that the money will be in your bank account the following working day.
DailyPay’s automated features also make it easy to save a predetermined portion of your income every time you get paid making it a top alternative for payday loan apps like Cleo.
DailyPay is available on both Android and iOS for free.
Even provides instant access to cash to help you handle life’s unexpected events, such as filling up your gas tank, paying a bill, treating yourself to a fun activity, or purchasing groceries.
By advancing money against your outstanding earnings, this top loan app like Cleo puts a fresh spin on cash advances.
To the same extent that Cleo does not charge interest or taxes on cash advances, neither does Even. In order to withdraw funds from Even, however, a monthly subscription charge is required.
For just $2 a week, you can have complete access to Even and all of its features, including a suite of helpful financial planning tools designed to help you get a handle on your finances.
When compared to Cleo, the time it takes to arrange a cash advance on Even is significantly shorter at just one working day.
Even is available on both Android and iOS for free.
With Varo, you may get a cash advance before your paycheck even comes, saving you the hassle of waiting around for traditional banks.
If you have your paychecks deposited directly into your Varo account, you can take out a portion of your payments whenever you like.
Similar to the cash advance payment offered by Cleo you get from Varo is interest-free. No minimum balance or transfer fees will be imposed, and foreign transactions are free of charge.
Similarly, you will not be accountable for any unlawful fees made using the debit card that is included with your Varo account.
With a Varo card, you can use any of the 55,000+ ATMs worldwide for free. If your Varo card is ever lost or stolen, you can prevent it from being used by locking it in the app. This functionality is comparable to Cleo’s freeze function.
Varo is available on both Android and iOS for free.
If you have a low credit score and looking for some reliable cash advance apps like Cleo, go no further than Floatme, which allows you to get the cash you need whenever you need it.
Floatme is a service aimed squarely at millennials that facilitates the acquisition of cash advances of up to $50 without the usual overdraft fees.
In order to be eligible for advances through the platform, you need to sign up as a member and pay $1.99 every month.
You won’t have to worry about paying interest on a cash advance from Floatme because of the company’s policy of not charging any. Also, the company will not look at your credit history before giving you a loan.
Besides helping you get a cash advance when you need it, Floatme can also be used to keep tabs on your monthly expenses and present them graphically so you can better manage your money.
Floatme is available on both Android and iOS for free.
How to Create Cash Advance Apps Like Cleo?
Think About Your Intended Audience
Doing market research is a prerequisite for developing cash advance apps like Cleo. All of us know that there are many different types of customers in the global market. Therefore, the first step in developing a successful personal financial app is to identify your target audience.
When it comes to managing their own finances, recent college grads and working professionals may be your app’s perfect users.
Targeting regions with a large population of potential clients, low levels of competition, and capacity for growth might help you find success in the market.
Consult With Experts
Even if you feel confident in your knowledge of the topic, it’s best to get an expert’s take on your business strategy or proposal for developing an application. You can verify the potential of your company’s ideas and learn about new developments in the market by consulting with an expert.
Your app’s chances of being a global hit can be boosted by familiarizing yourself with modern design trends and features. That’s why it’s smart to hire an app development consultancy that specializes in making cash advance apps like Cleo.
Select a Platform for Coding
After consulting with specialists and formulating a detailed strategy, you may move on with selecting the optimal app development strategy. Apps like Cleo that facilitate obtaining a payday loan can be developed for a variety of operating systems.
In a nutshell, you should pick right mobile platform for app development that your intended users are already familiar with.
Choose Only The Finest Feature And Design Options
Features and aesthetics are equally valued in the development industry today due to the cutthroat nature of the market. To have the world’s best User Interface (UI) and User Experience (UX) is to have a top-notch design.
Having great features means nothing if people can’t use them. When creating cash advance apps like Dave and Cleo, the only way to stand out from the crowd and attract more users is to provide something genuinely unique and better than the competition.
Hire Competent Developers
As soon as you have a firm understanding of the functionality and structure, it is time to bring in professional app developers. If you want to create a loan lending application with AI-integrated features, you’ll require a team of dedicated developers.
You can create the Cleo banking application in-house or employ a mobile app development business that specializes in developing fintech apps.
Check the Application for Bugs
Testing has long been an integral aspect of designing custom applications since it uncovers issues that were not discovered during development. Nonetheless, many businesses skip this step and pay the cost in the form of mistakes and damaged reputations.
Therefore, if an app like Cleo is being developed, testing should always be the first option. Check with the app development team to see whether they offer testing services. For further peace of mind, you can hire additional support to check for and fix any bugs in your app.
Furthermore, automated testing is increasingly trendy because of its capacity to detect errors without human interaction. This means you have the option of either automating your tests or resorting to manual testing, based on your specific needs.
Smartphone applications have become increasingly popular as people rely primarily on them for all aspects of their everyday lives, from financial and educational services to entertainment and beyond.
There are a number of mobile applications developed like Cleo, that are designed to help people in times of financial difficulty by providing them with cash loans.
You simply need to examine all of the options mentioned above and pick the one that caters to your preferences and requirements most effectively.
FAQs for Top Cash Advance Apps Like Cleo
- What are cash advance apps?
Using a cash advance apps, such as Brigit, Cleo, or Chime, you can borrow a tiny portion of your future income in advance. If you find yourself in a bind and in need of cash quickly, this simple solution can come in handy.
- How do cash advance apps work?
Users can request a cash advance using their mobile app in exchange for a promise to repay the loan whenever they get their next salary or direct deposit. When the due date or your paycheck is paid into your bank account, the app will immediately deduct the amount advanced in one single sum.
- How long does it take for cash advance applications to process payments?
You should expect your funds to be in your account within one to two business days.
- Are cash advance apps safe?
Connecting your bank account to cash advance apps like Cleo only grants read-only, encrypted access to your account information and transaction history. So, you may trust in their assistance in a time of crisis.