Best Apps For Instant Money | Ranked & Reviewed | Finance

Best apps for instant money

/ 10:44 AM December 20, 2021

Nowadays, more people are looking for the best apps for instant money due to various reasons. Some have bills to pay, and they cannot wait for their payday to arrive. Others need money quickly for all sorts of emergencies, so waiting for a few business days is out of the question. Whatever the case may be, these apps have your money troubles covered!

You will still have to know how they work because you’re risking your financial health if you don’t. If you’re not careful, you might wake up to an account balance overwhelmed by hidden fees and overdraft fees! Choose the right one, and you’ll maintain your finances while covering a sudden expense. That’s why I’ll be sharing the best ones.


Some readers might not be aware of such apps, so I’ll start by explaining what they are. After the brief explanation, I’ll jump right into my list of the best apps for instant money. Once I’ve covered the recommendations, I’ll discuss the benefits and risks of these online tools. Also, I’ll share other ways to get extra cash.

What are these apps for “instant money”?

This is a pile of US dollar bills.

If you have a job, you might be used to receiving paychecks via your bank account. That’s convenient because we use online payment methods more often nowadays.

However, the funds usually take 2-5 business days to reflect in your account. That’s not good when you need to pay rent or cover an emergency.

Fortunately, app stores have various options that let you withdraw that paycheck earlier. Then, that app will take that amount from the next one.

When I say “apps for instant money,” I mean these types of online tools. Some are referred to as “early payday apps” or “cash advance apps,” but they share a similar purpose.


What’s more, they could have other features aside from providing cash advances. One of my recommendations for later is an online bank that offers various lines of credit.

Many of them need you to register with your employer, so you may not use them if you have a remote job. This isn’t ideal nowadays as many have shifted to this work mode.

That’s why I included the few that are available even if you’re part of today’s gig economy. Let’s look at my three recommendations and discuss them further:


3 of the best apps for instant money

  1. Empower – Best app for instant money with low fees
  2. Dave – Best app for improving your credit
  3. Moves – Best early payday app for freelancers

#1. Empower – Overall best app for instant money

This is the Empower logo.

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There are two reasons why Empower is my number one early payday app: it lets you spend a part of your paycheck early, and it helps you keep track of your expenses.

Empower is a debit card with a mobile app that lets you take out up to $250 two days before your paycheck comes. Also, it does this without charging interest and late fees.

What’s more, the Empower card lets you spend at retail stores while earning up to 10% cashback. It also lets you withdraw funds at more than 37,000 ATMs across the United States.

The FDIC insures up to $250,000 of the funds deposited in Empower accounts. Even better, the Empower app has various personal finance features, such as:

  • AutoSave – Empower’s Automatic Savings features let you assign weekly savings goals. Then, the app will keep track of your checking account’s daily activities, such as the money coming in and out of it. The Empower app will also set aside extra money as savings based on your preferences.
  • Budget planning – You may assign spending trackers for various types of expenses, so you could place a limit on how much money you’ll use. For example, you may set a $300 limit for your monthly online shopping.
  • Monthly reports – Empower boosts personal finance even more by giving a breakdown of your expenses for each month, so you can see other ways to improve your budget.
  • Smart recommendations – You don’t even have to check the budget yourself as Empower may suggest ways to improve it.

Empower isn’t just an app for instant money, but it’s also a nifty personal finance app. Many of my articles teach financial literacy, so that feature is a great plus for me.

Read More: What Are The Best Banks In America?

#2. Dave – Best app for improving your credit

This shows an app for instant cassh.

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The first entry is great for budgeting, but this one’s a good choice if you need to boost your credit score. The Dave app works with LevelCredit to provide this option.

You get this credit-building feature once you’ve set up your direct deposit. After that, just pay bills and rent just as you always do, and LevelCredit will record the qualified transactions.

Then, LevelCredit will compile that payment history and send it to the credit bureaus every month. Of course, the payments have to be on time!

Payment history takes up 35% of your credit score, so improving that should be your top priority when building credit. It goes up with on-time payments, and it drops with late ones.

Together with LevelCredit, Dave informs the credit bureaus of your good spending habits, so they’re more likely to increase your rating in the future. Even better, no hard credit checks!

What’s more, Dave is a great app for instant money because it lets you get a cash advance as low as $5.00. This is great if you want to avoid overdraft fees and other penalties.

What keeps it from becoming number one is that it charges a monthly subscription fee. It’s only a dollar a month, but Empower may still look more appealing for charging no such fee.

On a side note, credit cards are designed to help you build credit. Click here for a list of the best credit builder cards right now.

#3. Moves – Best early payday app for freelancers

This is the Moves app logo.

Photo Credit:

Millions of Americans have shifted to remote work due to the COVID-19 pandemic. In 2020, 42% of the workforce was working from home.

Then, a 2021 Gallup poll said that 44% of remote workers said they would like to keep doing their jobs this way. Sadly, it’s not easy for freelancers to get cash advances.

Fortunately, the Moves app offers what gig workers need and delivers it. It’s one of the mobile banking apps that specifically caters to self-employed clients. The direct deposits work like this:

  1. Create an account and verify how much you earn from your gig.
  2. The Moves team will review your income history to see how much it could lend.
  3. Expect to receive the results within a day. If you’re approved, you’ll see the approved amount show up in your bank account within 1 to 3 business days.

Even better, Moves allows cash advances for gig businesses too. It will not require credit checks and paperwork, nor will it charge overdraft or maintenance fees.

If you’re not self-employed, the previous entries might be better for you. Empower, and Dave has features you won’t get from Moves. Still, it helps freelancers make that money move in advance.

What are the benefits and risks of early payday apps?

This is a person paying with a credit card.

Sometimes, you can’t afford to wait for your paycheck to reflect on your account. As I said, emergencies may require you to have a lot of money immediately.

An app for instant money could be a lifesaver for these situations. That early access could help cover an emergency, and it makes sure you pay bills on time.

However, these apps aren’t a good idea in the long run. Get used to apps for instant money, and you might depend on them too much. It shouldn’t be your only way of getting emergency money.

You may end up just taking out your future paycheck every month. That could be a sign that you’re not earning enough or spending too much.

Other ways to an “early payday.”

This is someone figuring out their cash advance.

Frequent cash advances won’t solve such an issue, but proper money management will. Start by planning a budget using the following steps:

  1. Gather all your financial statements so that you can determine your monthly expenses. Examples include bills for credit cards, utilities, and online purchases.
  2. Get your take-home pay by getting your total income and deducting taxes.
  3. Compare your take-home income and expenses, then see your needs and wants.
  4. Remove, reduce, or replace the wants. For example, you may remove all your online streaming subscriptions or just keep one. Alternatively, you may cancel them all just to follow a cheaper hobby.
  5. Earn more money by working a side gig. Since many of them are remote options, you can do them during your spare time.
  6. If you have debts, make sure you have enough to pay them on time. Otherwise, you may damage your credit to the point that you cannot borrow money from banks. Also, credit card debts can easily balloon out of control!
  7. Lastly, put some of that money towards savings, so you’ll have an emergency fund. That way, you won’t rely too much on the cash advances that early payday apps offer.

This long-term plan may not help you if you truly need money immediately. Still, you might want to just get a short-term loan from your local bank or credit union.

Final thoughts

Be careful where you’ll borrow money by avoiding risky options like payday loans. Stick to reputable banks and apps for instant money.

Debts might be the reason why you don’t have enough money each month. In that case, you might want to use debt reduction methods like consolidation.

If you have serious money troubles, you might want to speak with a credit counseling agency. Many of them are nonprofits that will be glad to assist you.

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