Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Loans Payactiv Review: Can You Use It to Get Paid Early? Updated Sep 25, 2024 8-min read Written by Taylor Milam-Samuel Written by Taylor Milam-Samuel Expertise: Student loans, credit cards, debt, budgeting Taylor Milam-Samuel is a personal finance writer and credentialed educator who is passionate about helping people take control of their finances and create a life they love. When she's not researching financial terms and conditions, she can be found in the classroom teaching. Learn more about Taylor Milam-Samuel Learn More Cash Advance No interest charges No bank account necessary Instant advances Can only access 50% of earnings Your employer must sign up Small fee if you don’t use direct deposit AmountsUp to 50% of earned wagesSpeed of advanceInstantFeesUp to $3.49 fee for instant transfers; up to $5 monthly program fee; $1.99 processing fee for cash pickup Repayment timeLess than 15 days Payactiv is an employer-based wage advance app. It’s similar to a cash advance, but you can only access money you’ve already earned. Additional features include free financial education or a prepaid debit card. But the Earned Wage Access is the main draw. The app stands out with fee-free advances, instant transfers, and paying up to 50% of your wages before payday. Advances from the app are a better alternative to expensive payday loans. But if you become too dependent on it, you can get trapped in a cycle of overspending. Here’s everything you need to know about the app. Table of Contents Skip to Section How does Payactiv work?Who is eligible for Payactiv?Pros and cons of PayactivHow does Payactiv compare to other cash advance apps? FAQ How does Payactiv work? Payactiv partners with employers to help workers access up to 50% of their monthly earnings. The process is quick, and repayment happens automatically on payday. Payments are instant and free if you have a Payactiv card with direct deposit, or you can pay up to $3.49. Users can also use the Payactiv Visa prepaid card, Payroll Card, and free financial education. You can still use the app if your employer doesn’t, but the most popular features—such as Earned Wage Access—aren’t available. Because of that, it’s likely not a helpful solution unless your employer uses it. Payactiv’s partnership with employers differentiates it from other options, including payday loans and cash advances. The company doesn’t charge interest or excessive fees. Instead, Payactiv works with employers to calculate employee hours, tips, and bonuses. As a result, the advances estimate what an employee can pay back. The primary difference between Payactiv and other options is that you can borrow more money and pay fewer fees. Here’s how Payactiv compares. Type of advanceCostsMax. amountPayactivUp to $550% of your earned wagesPayday loanUp to 400% annual percentage rate (APR) Up to $500, depending on your stateCredit card cash advance3% to 4% of the loanUp to 30% of your credit limitCash advance appUp to $40Up to $750 How much does Payactiv cost? Payactiv is free if you have a Payactiv Visa card with direct deposit. But even if you don’t, the charges are minimal—usually a maximum of $8 per month. You don’t pay interest because the money isn’t a loan—it’s an advance based on the hours you’ve already worked during the pay period. Fees are minimal because you can only get an advance if your employer works with Payactiv, so the risk that you won’t repay it is minimal. Transfers are free if you can wait one to three days to get the money. You can also get an instant transfer with no fee if you have a Payactiv prepaid card and direct deposit set up. If you have the card but don’t have direct deposit, you’ll pay $2.49 for an instant transfer. You’ll pay $3.49 without the card to get the advance immediately. Payactiv also charges a program fee of $1 when you use bank transfer, card load, cash access, bill pay, Uber, or Amazon. The maximum you will pay is $5 per pay period, regardless of how much you use it. The company waives the fee if you have a Payactiv Visa card with direct deposit set up. You’ll pay a $1.99 processing fee for cash pick-up at Walmart and transfers to other bank accounts. Payactiv reviews and ratings Payactiv is a legitimate company that has existed for over a decade. It has FDIC insurance, and most Payactiv users are satisfied with the products. The app earns positive reviews for performance, customer service, and user experience. Payactiv’s customer ratings are much higher than those of many other cash advance apps and payday loan companies. Customers report that company representatives are helpful, kind, and efficient. Some users needed additional help setting up their accounts, and they were able to reach a representative and resolve the issues within a few minutes. Other users have less positive experiences with customer service, especially when there is miscommunication between Payactiv and their employers. But overall, the Payactiv reviews are positive, and customers are satisfied. PlatformRatingNumber of reviewsGoogle Play4.4/530KApple store4.7/552.6KTrustpilot4.1/51.36KBetter Business Bureau3.91/5559Collected on September 17, 2024. Who is eligible for Payactiv? You can apply for the Payactiv Visa card and use the app for free financial education and budgeting tips even if your employer doesn’t use Payactiv. Plus, you don’t need a bank account to open a Payactiv Visa card, making it an accessible option for everyone. But you can’t access the most popular feature—Earned Wage Access—unless you work at a company that uses Payactiv. Here are the eligibility requirements for different Payactiv products. Payactiv productEmployer-based?How to sign upEarned Wage AccessYesCreate an account and enroll through your employerPayactiv Visa CardNoApply onlinePayroll cardYesCreate an account and enroll through your employerConnect chatYesEnroll through your employerFinancial education resourcesNoDownload the app and create an account Pros and cons of Payactiv Payactiv is a solid option if your employer offers it, but it’s not the right fit for everyone. Here’s what to consider as you decide whether to use the app. Pros No interest charges Payactiv’s Earned Wage Access doesn’t charge interest. You also don’t have to worry about managing payments. Repayment is automatic. The company deducts the money from your account once you get a paycheck. No bank account necessary You can sign up for a Payactiv prepaid card without a bank account. Payactiv is most cost-effective if you have the card, so it’s helpful that the card is accessible to everyone. Instant advances Payactiv offers instant wage-based advances for a small fee. Transfers are free and immediate if you have a Payactiv prepaid card with direct deposit. Cons Can only access up to 50% of earnings You can access up to 50% of your earnings, which might be enough for some people. But if you work part-time or have a significant expense, you might need access to more cash. Your employer must sign up Payactiv is an employer-specific program that isn’t available to everyone. You can’t access a wage-based advance or the Payroll card unless your employer signs up. Small fee if you don’t use direct deposit If you don’t have the Payactiv Visa card with direct deposit set up, you’ll pay a monthly program fee of up to $5 for the prepaid card. The company also charges up to $3.49 for instant cash advance transfers. How does Payactiv compare to other cash advance apps? Payactiv differs from other cash advance options because it’s a job-related benefit. Advances from Payactiv are wage-based, which means Payactiv gathers information from your employer to calculate how much you can borrow. The connection to your employer helps legitimize the service. It also makes it less risky for Payactiv to advance paychecks, which means fewer fees. Compared to other cash advance apps, Payactiv stands out by offering higher loan amounts with fewer fees. The downside is that you can’t use the service if your employer doesn’t partner with Payactiv. If your job doesn’t offer Payactiv, a cash advance app might be a solid option. Check out the table below for the top cash advance apps. CompanyBest for…Rating (0-5) Best Overall 5 Get Cash Best Overdraft Reimbursement 4.6 Get Cash Best Early Payment Benefit 4.6 Get Cash Best for Building Eligibility 4.5 Get Cash Best Repayment Flexibility 4.3 Get Cash How to get Payactiv You can download the Payactiv app on your phone and create an account to access the educational resources. You don’t need to download the app to apply for a Payactiv prepaid Visa card; you can apply online. But you’ll want to download the app to manage your card once you have it. Applying for an employer-based program, including Earned Wage Access, requires an employee ID. Here’s how to get a cash advance from Payactiv. Download the app: You must download the app to access a cash advance from Payactiv. It’s free and only takes a few seconds to download. Verify your phone: Enter your phone number to set up an account. Payactiv will send a code to your phone. Confirm the code numbers in the app. Enter your employer information: The next step is to enter your employer’s name. After that, input your employee ID. If you’re unsure what it is, contact your employer’s Human Resources department. Choose the amount: Once you confirm your job, you can select the money you want to access. The app will list the maximum you can borrow based on your work hours. Select or add the account: The final step is to choose the account for the transfer. Payactiv will deposit the money into the account you select. FAQ Is Payactiv safe to use? Yes, Payactiv is safe. It partners with FDIC-insured banks to manage users’ money, employs encryption for data protection, and follows standard security practices to safeguard personal information. However, it’s important to review the privacy policy and be mindful of fees associated with certain services. Is Payactiv worth it? Payactiv can be worth it for people whose employers offer access to the program and who need quick access to earned wages without waiting for payday. How much money does Payactiv give you? Payactiv allows you to access up to 50% of your earned wages before payday, but the exact amount depends on your employer’s agreement with Payactiv. The maximum you can withdraw will vary by user and employer. How long does it take to get my money from Payactiv? Payments are instant and free if you have a Payactiv card with direct deposit, or you can pay up to $3.49. How many times can you pull from Payactiv? The number of times you can withdraw from Payactiv depends on your employer’s plan. Some employers allow daily withdrawals, while others may limit the number of transactions per pay period. Payactiv also places a cap on how much of your earnings you can access early, usually up to 50%.