Brigit has an option to notify you if your account balance is running low so you can request an advance if you need it. You can also set up automated advances to receive a transfer anytime your account balance is in danger of dropping below zero to avoid overdraft fees. However, this perk is only available as part of Brigit’s Plus plan, which comes with a $10 monthly fee.
- Income. You have to show your monthly income is above a certain amount, which they don’t specify on the site. Moreover, all this income must come from a single steady source. You must show you’ve received at least three paycheck direct deposits from the same employer before Brigit grants you an advance.
- Banking. You must have a checking account that’s at least 60 days old with a balance greater than $0. Additionally, you must show sufficient activity in your account, which means using it regularly to make payments, receive deposits, or check balances. Finally, you must show you have a sufficient end-of-day balance on your payday so Brigit knows it can safely collect your payment without overdrawing your account.
- Brigit Score. Brigit applies a scoring system similar to a credit score to all potential members. It’s based on your earnings, spending, and banking behavior. The score ranges from 1 to 100, and you must have at least a 70 to receive cash advances.
With the free plan, you get updates on your financial health, personalized tips for improving it, and opportunities to earn extra cash. The Plus plan also provides instant deposit, flexible repayment, credit monitoring, and identity theft insurance.
2. Varo
Varo is an online banking service that can give you faster access to your paycheck. With most traditional bank accounts, you have to wait up to two days for the payment to clear before you have access to the money. But when you use direct deposit with your Varo account, your paycheck enters your account as soon as your employer transfers it. Thus, the money can be in your hands up to two days earlier.*
In addition to cash advances, Brigit offers a few extra features to help you stay on top of your finances
- Varo Visa® Debit Card. The account comes with a contactless debit card that bears the Visa brand mark. It comes with a Zero Liability guarantee, meaning you aren’t responsible for any unauthorized charges. The app gives you the ability to lock this card instantly if it’s lost or stolen. You can link your debit card to your Apple Pay, Google Pay, PayPal, Cash App, and Venmo accounts for online payments.
- Transfers to Other Varo Bank Customers. You can transfer money instantly from your Varo account to anyone else’s. There’s no fee for this service.
- Fewer Fees. Varo has no monthly fee, no minimum balance payday loans online Woosterh, no transfer fees, and no foreign transaction fees. It also provides fee-free access to more than 55,000 ATMs in the Allpoint® network in stores like Walgreens, Target, and CVS.
- Deposit Money. You can deposit checks remotely using the Varo app. You can also deposit cash into your account at any of more than 90,000 retail locations that use Green Dot Reload® the Register, though most retailers charge a fee for this service.
- Automatic Savings Tools. A standard Varo Bank Account is similar to a checking account. However, if you also have a Varo Savings Account, Varo offers two automatic savings tools to build up your nest egg. With Save Your Pay, you can automatically have a chosen percentage of every paycheck transferred from your bank account to your savings account. Or with Save Your Change, you can round up every transaction to the nearest dollar, and Varo transfers that amount from your Varo Bank Account to your Savings Account.
