Table of Contents
Introduction:
Before the digital era, people would sometimes visit storefronts that offered something called payday loans. With exorbitant interest rates, these companies would provide upfront pay when you needed it, using your upcoming paycheck as collateral. For the unbanked or those who didn’t have good enough credit to secure a credit card, these loans could be lifesavers to put food on the table, help keep a car from being repossessed, keep the electricity on, or pay the rent. These loans could also be used for emergency circumstances like car repairs, medical issues, or a sudden death in the family.
In today’s digital age, cash advance apps have become a popular solution for accessing funds quickly. However, many of these apps require users to link their bank accounts through Plaid, a third-party app that facilitates transactions. While Plaid is widely used and trusted, some individuals may have concerns about sharing financial information with a third party.
If you’re looking for cash advance apps that prioritize privacy and don’t use Plaid, you’re in luck. In this article, we’ll explore some alternative options that offer secure and convenient cash advances without the need for Plaid.
What Is Plaid?
Plaid powers many well-known financial apps, including Venmo, Betterment, Chime, and Dave. According to the company’s website, Plaid connects with more than 11,000 financial institutions across Nor. America and Europe. Plaid encrypts data and transmits it securely, acting as a conduit between banking and finance apps and businesses or consumers who use the apps.
Is Plaid Trustworthy?
Plaid employs security and encryption protocols to protect your data. It also offers 2-factor authentication protocols, which some banks may need to do. Plaid provides convenience and security when it comes to managing your money online. The company’s terms of service promise to never rent or sell your information to other companies, allowing you to control which companies have access to your data and, precisely, what data can be shared with those companies.
5 Best Cash Advance Apps That Don’t Use Plaid:
If you are looking for cash advance apps that don’t use Plaid, keep reading to find out more about them.
1. B9 Advance:
B9 Advance is a membership-based cash advance app that lets you access up to 100% of your paycheck instantly. The membership fees range from $9.99 to $19.99, depending on your membership level. The basic $9.99 account allows you to withdraw up to $300 instantly during each pay cycle.
To use B9, you must have a checking account that is set up to receive direct deposits from your employer. According to the B9 privacy policy, users can connect to the B9 cash advance app through Argyle Systems instead of Plaid, but only if their employer uses Argyle to manage employee data. Otherwise, you’ll need to use Plaid to connect and receive your advance payment.
2. CashMaster:
CashMaster offers a variety of services, including title loans, loans that are backed by your vehicle as collateral, and cash advances or payday loans of $50 to $500. If you prefer to use something other than the app, you can receive a check advance in person at a CashMaster location in Tennessee or Alabama. Otherwise, you can download the Cashmaster app. You’ll need to provide a photo ID, current bank statement, proof of income, and social security verification.
3. Line:
Available as an app for Android or Apple, Line allows users to access anywhere from $20 to $1,000, depending on the service plan they choose. Currently, for just $1.97 per month, you can access up to $100 in funds directly deposited into your account at no extra cost. You can also get instant delivery to a Line debit card for $4. The $9.97 plan gives you access to as much as $500, which can gradually increase to as much as $1,000 with your on-time payments.
4. DailyPay:
DailyPay is a cash advance app provided as a service by many employers, including Kroger, McDonald’s, Lid, T-Mobile, Dollar Tree, and Six Flags. Once you set up your account, you can access your pay in advance immediately and have it sent to your bank account, debit card, or pre-paid card instantly for a small fee or by the next day. You can also refer friends and co-workers to DailyPay and earn an extra $5 when they sign up and access their pay through the app.
Unlike other cash advance apps, DailyPay does not mention Plaid in its privacy policy. It does indicate that you may choose to create or supplement your account by using a third-party website or service. However, this doesn’t appear to be necessary if you use DailyPay’s online registration form and provide:
- An email address.
- Mailing address.
- Mobile phone number.
- Date of birth.
- Proof of identity documentation.
- A password.
5. Dave:
The Dave ExtraCash account allows you to access up to $500, which you pay back the next time you get paid, or if Dave can’t determine your next payday on the nearest Friday after you took out the advance. You’ll receive the funds in 1 to 3 business days with no fees, or you can pay between 99 cents and $6.99 to have money deposited into your Dave Spending account in seconds. For a fee ranging from $2.99 – $11.99, you can have the funds transferred to an external bank account.
According to Dave’s privacy policy, Dave uses Plaid or Galileo to share information between the platform and your financial institution, making Dave one of the cash advance apps that do not necessarily use Plaid.
Conclusion:
While Plaid is a widely used and trusted app for linking bank accounts to cash advance apps, some individuals may prefer alternatives that prioritize privacy. The cash advance apps mentioned above offer secure and convenient options without the need for Plaid. Whether you’re looking for membership-based apps like B9 Advance or apps you’re by employers like DailyPay, there are options available to suit your needs.
Read also: How To Remove Password Protection From Bank Statement PDFs.
