CompareCashAdvance
Get early access to your money—fast.
Learn how cash advances and earned wage access work, and see if they're right for you.
Check my advanceWhat is a Cash Advance?
A cash advance is a short-term financial solution that allows you to borrow a small amount of money against your upcoming paycheck. These advances typically range from $100 to $500 and are designed to help cover unexpected expenses or bridge financial gaps until your next payday.
Unlike traditional loans, cash advances are usually repaid in full when you receive your next paycheck. The process is streamlined and often doesn't require a credit check, making it accessible to people who might not qualify for conventional lending options. Repayment is typically automatic, with the advance amount plus any applicable fees deducted directly from your bank account on your payday.
What is Earned Wage Access?
Earned Wage Access (EWA) is a financial service that allows employees to access a portion of their earned wages before their regular payday. This isn't a loan—it's simply early access to money you've already earned through your work hours.
EWA services work by connecting to your employer's payroll system or tracking your work hours, allowing you to access funds that you've earned but haven't yet been paid. This provides a safety net for unexpected expenses without the need for traditional borrowing.
Work Hours Logged
Your work hours and earnings are tracked through your employer or time-tracking system.
Request Advance
Submit a request for early access to a portion of your earned wages through the app.
Repay Automatically
The advance is automatically deducted from your next paycheck—no additional payments needed.
Cash Advance vs. EWA
| Feature | Cash Advance | Earned Wage Access |
|---|---|---|
| Credit Check | Usually not required | Not required |
| Fees/Interest | May include fees or interest | Typically lower fees |
| Typical Limits | $100 - $500 | Up to 50% of earned wages |
| Repayment Timing | Next payday | Automatic payroll deduction |
Pros & Cons
Pros
- Quick access to funds for emergencies
- No hard credit check required
- Simple application process
- Financial flexibility between paydays
- Can help avoid overdraft fees
Cons
- Smaller next paycheck amount
- Possible fees or service charges
- Risk of creating spending cycle
- Limited to earned wage amounts
- May not solve underlying budget issues
Eligibility Requirements
While specific requirements may vary by lender, common eligibility criteria may include:
- Must be at least 18 years old
- Valid U.S. bank account in good standing
- Regular income or employment verification
- Valid email address and phone number
- Not currently serving in active military duty
- Meet state-specific lending regulations
Note: Requirements vary by lender and state regulations. Not all applicants will qualify.
Frequently Asked Questions
Cash advances are typically short-term financial products, while Earned Wage Access is not a loan at all—it's early access to wages you've already earned. The classification can vary by provider and state regulations, so it's important to review the specific terms offered by your chosen provider.
Most cash advance and EWA providers do not perform hard credit checks, so applying typically won't impact your credit score. However, if you fail to repay as agreed, some providers may report this to credit bureaus. Always review the provider's credit reporting policies before proceeding.
Funding speed varies by provider, but many cash advance and EWA services offer same-day or next-business-day funding once approved. Some providers offer instant transfers for an additional fee, while standard transfers may take 1-3 business days.
Reputable providers clearly disclose all fees upfront. Common fees may include service charges, express funding fees, or monthly membership costs. Always review the fee schedule and terms of service before accepting any advance. Be wary of providers who aren't transparent about their fee structure.