Venmo is a peer-to-peer payment app that you can use to send money quickly. It’s useful when splitting a restaurant bill with friends, buying something from Facebook Marketplace, or paying your roommates for your share of the electric bill. However, you can’t borrow money from Venmo like you can with other fintech apps.
Venmo doesn’t have a borrow feature like Cash App does, and it doesn’t offer cash advances like the EarnIn app.
Venmo does offer a credit card, which is technically borrowing money until your bill is due, but you can only get approved if you have good credit. Below, we share some alternatives to Venmo to consider if you need to borrow money quickly.
Does Venmo offer loans?
No, Venmo does not offer loans. It does not provide cash advances either. Venmo is a peer-to-peer transfer app, which means its primary purpose is to allow customers to quickly and easily send money to each other.
Venmo offers a credit card, but you must meet certain qualifications to get it, like having good credit and being a Venmo customer for at least 30 days. If you need money faster than that, consider using a cash advance app.
5 cash advance apps to use instead of Venmo
A cash advance app can help in an emergency, especially if you only need to borrow a small amount, but it’s best not to make a habit of using them. These apps can have high fees and subscription costs that translate into high APRs, even if the app doesn’t officially charge interest on an advance.
For a one-time need, using a cash advance app can be a good solution, but it can create a cycle of dependence if you aren’t careful. If it’s your only option, here are five reputable cash advance apps we recommend. See our full rundown of the top-rated apps here.
- Earnin: Great for Early Paycheck Access Without Fees
- Current: Great for Stacking Multiple Small Advances
- Tilt: Great for Overdraft Protection and Budget Coaching
- Dave: Great for Small Advances and Side Hustle Matching
- MoneyLion: Great for Earning Large Advances Over Time
1. EarnIn: Great for Early Paycheck Access Without Fees
Why it’s one of the best
EarnIn lets you borrow against your paycheck before payday—up to $300 per day and $1,000 per pay period. There are no mandatory fees, credit checks, or interest. Just connect to your bank, verify your income, and choose standard delivery or Lightning Speed to get your funds within minutes.
Earnin test results: Our best experience was with EarnIn—the tester was able to advance themselves $100, with no fees, within 8 minutes after downloading the app. (First Lightning Speed transfer is free for new users.) They were then eligible to advance an additional $150 at a time, and up to $500 total per pay period.
Details
| Max. advance | $1,000 per pay period |
| Fees | $0 for standard delivery (1–3 days); $2.99 for Lightning Speed |
| Direct deposit required? | Yes |
| Credit check? | No |
| Bonus features | Balance Shield low-balance alerts, get paid up to two days early |
2. Current: Great for Stacking Multiple Small Advances
Why it’s one of the best
Current offers up to $750 as a paycheck advance when you set up qualifying direct deposits. You can technically make an unlimited number of advances each month up to your maximum borrowing limit. So you can borrow exactly how much you need without fear of missing out if you need more money later on. You can also link an existing bank account with direct deposits to see if you qualify.
Current test results: We liked how easy it was to qualify after setting up a direct deposit—just $200 per month gets you access. Once eligible, you can borrow exactly what you need, multiple times a month, up to your $750 limit. The app made it clear how much was available and when repayment would happen.
Details
| Max. advance | $750 |
| Fees | $0 for standard (1-3 days); Fees apply for instant |
| Direct deposit required? | Yes (at least $200/month) |
| Credit check? | No |
| Bonus features | Savings pods, cashback, teen banking |
3. Tilt: Great for Overdraft Protection and Budget Coaching
Why it’s one of the best
Tilt (formerly Empower) gives you $10 to $400 in instant cash without interest or a credit check. You don’t need to switch banks—but you do need to pay a $8 monthly subscription after your free trial. But that $8 includes instant delivery (it’s not something you have to pay extra for). It also comes with built-in budgeting tools and the option to cancel anytime.
Tilt test results: We were able to advance $300 from Tilt within the first 11 minutes after download. It was close to instant, but it cost $9.00. The tester avoided paying the $8 per month subscription while on free trial. Next time they logged in (after paying for the subscription), it allowed our team member to advance $350.
Details
| Max. advance | $400 |
| Fees | $8 per month; 14-day free trial |
| Direct deposit required? | No, but helps with eligibility |
| Credit check? | No |
| Bonus features | Budget tracker, automatic savings, free trial |
4. Dave: Great for Small Advances and Side Hustle Matching
Why it’s one of the best
Dave offers up to $500 in cash advances with no interest and no credit check. There’s an optional $1/month membership, plus an instant transfer fee if you want your money right away. It also has a “Side Hustle” tool to help you find gig work.
Dave test results: Our team member was eligible for an instant $400 advance with Dave after signup.
Details
| Max. advance | $500 |
| Fees | $0 for 1–3 day delivery to external bank account; 1.5% of transfer amount for 1-hour delivery to external debit card; $0 for instant delivery to Dave Checking account |
| Direct deposit required? | Yes |
| Credit check? | No |
| Bonus features | Side hustle finder, budgeting tools, Dave Spending account |
5. MoneyLion: Great for Earning Large Advances Over Time
Why it’s one of the best
RoarMoney is MoneyLion’s mobile banking account that pairs with Instacash—its cash advance feature. You can get an advance up to $500 by linking an external checking account with regular deposits. But to unlock the full $1,000 limit, you’ll need to open a RoarMoney account and set up direct deposit. There’s no credit check, interest, or monthly fee, and you can choose standard or instant delivery.
MoneyLion test results: In our team’s firsthand trial run, we were able to get a $100 “Turbo” speed advance for a fee of $8.99, and $250 advanced per pay period total. We got the best deal waiting 1-2 days and sending money to our new RoarMoney account (standard delivery speed is free).
A Turbo transfer of just $100 to RoarMoney costs $6.99 and to your external account it costs $8.99 (ouch). It informed our team member that they may eventually be approved for up to $500 worth of advances (per pay period) if eligible, with continued use of RoarMoney and transfers.
Details
| Max. advance | $500 (up to $1,000 for RoarMoney + direct deposits) |
| Fees | $0 for standard delivery (1–5 days); $0.49–$8.99 for instant |
| Direct deposit required? | Yes |
| Credit check? | No |
| Bonus features | Credit builder loan, high yield savings, personal loans |
Quotes from our expert about cash advance apps
Cash advance apps can serve a purpose when you’re in a pinch and don’t have immediate access to savings. However, they should be used sparingly. It’s better to prioritize building a solid cash reserve to avoid unnecessary fees and reduce your vulnerability to scams.
I personally like using Venmo for the convenience of paying vendors, friends, and family, especially when I don’t have cash on hand, which is becoming more common these days for most individuals.
That said, it can also make it easier to overspend or make impulsive purchases, so it’s important to stay mindful and avoid putting yourself in a tight spot when it’s time to pay bills or cover essentials. I also caution against potential fraud; Venmo has had instances of fraudulent activity, and recovering lost funds isn’t always guaranteed.
Alternative ways to prepare for an emergency instead of a cash advance
Unexpected expenses happen to everyone. In a pinch, and if you can’t borrow money from friends and family, cash advance apps can help. However, cash advance apps should only be used as a last resort when other options are unavailable. If you want to prepare for an emergency in the future, so you have cash when you need it most, here are our tips:
- Automate savings: Setting up an automatic transfer from your checking to a high yield savings account each time you get a paycheck can help you build an emergency fund.
- Save for specific goals: Knowing what you’re saving for can give you a sense of purpose when building an emergency fund. For example, having a car maintenance account and a medical emergency will make you less likely to withdraw money for unnecessary expenses.
- Refill as needed: Part of having an emergency fund is refilling it as needed. So if you need to withdraw from your savings, take the time to refill it, even if it means taking on an extra job or sell items around your house.
About our contributors
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Written by Catherine CollinsCatherine Collins is a personal finance writer and author with more than 10 years of experience writing for top personal finance publications. As a mother to boy/girl twins, she is passionate about helping women and children learn about money and entrepreneurship. Cat is also the co-host of the Five Year You podcast.
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Edited by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.
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Reviewed by Erin Kinkade, CFP®Erin Kinkade, CFP®, ChFC®, works as a financial planner at AAFMAA Wealth Management & Trust. Erin prepares comprehensive financial plans for military veterans and their families.