A payday loan is the fastest and most convenient to get money fast. Companies like Bright Lending are great alternatives when you are in a bind.
A short-term loan is the fastest way to get cash quickly. On the market, there are so many great alternatives to make payday loans and cover an unexpected expense. They can only be done with a few taps on your phone. Thanks to advanced technology, here are some of the best companies like Bright Lending when you are in a bind.
1. Wealthfront Cash Account – best Robo advisor
Wealthfront is one of the best robot mentors available in the market. However, Wealthfront also provides financial services and banking products, including cash accounts. One of the great aspects of this account is that you can set up a direct deposit and receive funds a little earlier.
For instance, you might receive your payment two days earlier than usual, depending on your payroll provider. If you are having trouble paying your bills on time, getting that money quickly can make a huge difference.
Besides, Wealthfront now offers you the ability to transfer money from your Cash account to the marketplace within a few minutes. Therefore, if you get paid early, you can invest right away if you do not need that cash for something else. In fact, once you get rid of the need for a short-term loan, you can apply for an automatic investment right away once you get paid. In this way, everything is automatically set up for you and you never forget to invest.
2. Chime – free online app
While it is not quite the same as getting an advance before your payday, Chime gives you instant access to your money. Applying for a payday loan from Chimes, one of the best companies like Bright Lending, helps you avoid fees. Moreover, this new platform which is powered by Bancorp Bank and insured by FDIC offers a free check, savings, and debit card account.
With traditional banks, you typically have to wait up to two business days after your payment is sent to actually receive the funds. However, with Chime, you can access your money immediately. It means that you do not have to wait for the bank and it can offer you smooth cash flow.
Chime currently pays an APY of 0.50%, which is suitable for the best online savings accounts out there. So not only can you score with their top features, but also earn the highest interest rates.
3. Empowerment – no interest charges app
Based in San Francisco and established in 2017, Empower is an online banking and budgeting application. It acts as a financial aggregator that allows you to connect all of your financial accounts on your smartphone. With Empower, you have access to banking products including the ability to earn top-notch interest on Checking and also track your Spending. Alternatively, you can also create an automatic savings plan.
Empowerment also has a new cash advance feature. It enables eligible customers to receive up to $250 cash advance directly to the bank account. Even better, with this cash advance feature, there is no need to worry about interest charges, late payment fees, or credit checks. You can take that money and use it to recoup your expenses up to payday.
4. Earnin – one of the best companies lịke Bright Lending
Move over to short-term loans, a new app is offering borrowers a much more affordable option. While Earnin limits borrowing to small amounts, it is a good move to keep your debt from being out of control.
The idea behind Earnin is that you can access your payments whenever you get a job done. You provide Earnin information about where you are working and connect your bank account. When you go to work, Earnin tracks your working hours so you can withdraw money when you need it. This is why companies like Bright Lending are coming up with innovative alternatives to short-term loans.
After you receive your actual paycheck, Earnin will deduct the amount you took from the paycheck. No hidden fees are among the best parts about Earnin. You do not have to pay any fees or interest. You can choose to give a tip to support the operation of Earnin, but there is no charge required.
5. Axos Bank – Direct Deposit Express
Axos Bank is a completely online full-service banking that provides a truly free check service. They even have a variety of unique personal and business account options, including several high-yield accounts. Axos Bank also refunds an unlimited number of ATM fees charged by other traditional banks. Besides checking, they also provide savings and money market accounts, and also certificates of deposit (CD), IRAs.
When you have the necessary Checking account from Axos Bank, it comes with a feature known as Direct Deposit Express. With this feature, you can receive your money up to two business days early when your paycheck is deposited.
Another advantage of Axos Bank is that you do not need to worry about maintenance fees month or minimum balance requirements. In addition to giving you access to your own cash, there are no overdrafts on this account. As fully operational online banking, all financial services are available through Internet Banking.
With this app, you can also make online deposits by sending a check remotely from your smartphone, just by taking a photo of the check, both front, and back. Moreover, if you qualify, you will be eligible for a private program, providing first-class service and exclusive rewards such as direct access to a personal relationship manager or 24/7 access to the account in emergencies.
Sometimes you need quick cash to cover unexpected expenses or get you to my next payday. Though extremely high-interest rates, short-term loans are the easiest way to get your emergency money. Hope that with the top 5 companies like Bright Lending in this article, you can choose the best alternatives to serve payday loans.