9 Instant Cash Payday Loans That Accept Chime

While not technically a bank, Chime works similarly to one. Because of this, many payday lenders will accept Chime for ACH transfers, such as deposits and direct debit of funds. If you’re looking for the best same-day payday loans or cash advance apps that work with Chime, here are your options:

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Take me straight to the list of apps.

Key Points

• Chime SpotMe offers Chime customers small advances of up to $200
• You can just use your debit card and overdraft your account and Chime won’t charge you an overdraft fee
• Most payday lenders near you will accept Chime
• If you’re looking for a payday loan, instead try a cash advance app that doesn’t charge fees or interest
• The following cash advance apps work with Chime: Honest Loans, Dave, Fig Loans, MoneyLion, Klover, Albert, Cleo, Earnin and Empower
• Chime offers many of the same services as a traditional bank

Can I Get a Payday Loan With My Chime Account?

Yes, but you probably don’t need to. Chime SpotMe provides small cash advances to Chime customers. These are basically short-term loans with fast funding — similar to payday loans.

This means instead of visiting a payday lender, just go ahead and pay your bill (or other expense up to $200) with your Chime debit card. Your account will be overdrawn, but you won’t have to pay a fee. This saves you the $20 to $40 on average that you’d have to pay a payday lender to borrow the same amount.

Pro tip: A cash advance can be used for emergency situations, but it’s not recommended as a long-term solution to a financial struggle.

SpotMe will always be a better option than a payday loan if you have a Chime account.

READ MORE: Payday loan interest rates

Payday Loans Near Me That Accept Chime

Chime bank accounts work like traditional bank accounts, so most local payday loan storefronts accept ACH transfers or checks from Chime. Some online payday lenders will also accept Chime.

Payday loans are very easy to get. Most payday lenders only require an active checking account (such as through Chime), ID and proof of income.

READ MORE: Payday loan requirements

Pro tip: Payday loans should always be a last resort. There are better options available.

These loans usually come in small sums ($100 to $500) and don’t require collateral or a credit check. However, they have extremely short repayment terms — usually around two weeks. They also come with sky-high interest rates and other fees.

Many borrowers can’t repay their loan by the due date and must roll it over into a new loan. This new loan also has its own interest and fees, leading to a debt cycle that’s difficult to escape.

READ MORE: Struggling to pay back multiple payday loans? How to consolidate your payday loans and get relief

How Chime Works

With Chime, anyone over 18 can open a fee-free checking and savings account. These accounts come with direct deposit enabled and a debit card that can be used at any of Chime’s 60,000+ ATMs.

READ MORE: Chime review

Real-world example: “I wouldn’t trade Chime with any other bank,” says Janet, a longtime Chime customer. “We don’t have any overdraft fees, we get SpotMe. I’m beyond happy.”

Although similar to a traditional bank, a Chime account works slightly differently. For example:

• Chime is entirely digital, meaning you can access your Chime account via a smart device (ex. iPhone or Android phone).
• Traditional banks often offer more accounts, such as money market accounts and certificates of deposit (CDs). Chime has a standard checking and savings account.
• Chime can expedite direct deposit funds, giving you access to your money up to two days earlier. This is especially helpful for those who need to repay a short-term loan, such as a payday or title loan.
• Unlike most banks, Chime offers a $20 to $200 cash advance as an overdraft. You can go ahead and spend the money you don’t have and Chime won’t charge you an overdraft fee. This works great as an alternative to expensive payday loans, and you don’t have to visit a storefront or complete an application.

READ MORE: How do payday loans work? Know the dangers

Besides convenience, Chime is best known for the following:

• Chime accounts: Chime offers checking and savings accounts that are FDIC-insured for up to $250,000. The checking account comes with a Visa debit card and can receive direct deposit paychecks.
• Credit-builder loan and credit card: Chime’s secured credit card is accepted wherever Visa is and does not require a credit check. It has no interest fees or minimum security deposit. It can also help you build credit by reporting activity to all three credit bureaus. You must link a Chime checking account and make a $200 minimum qualifying direct deposit to get the card.

READ MORE: Here are the 10 best secured credit cards for building credit

Customer Kene also cites the SpotMe feature as a great safety net.

Real-world example: “I love Chime! …I love the SpotMe option as well,” he says. “It has saved me many times from being a little short on gas or another bill.”

READ MORE: Chime review

How does SpotMe work? Check out this video to learn more:

Payday Loan Apps That Work With Chime

A payday loan app is also known as a cash advance app. Despite the similar-sounding name, these apps are quite different from online payday lenders and are usually a better short-term solution.

Many payday loan apps work with Chime, too. However, applying and receiving funds may take a few business days. Try to plan ahead and sign up for an app before you need the cash.

READ MORE: Best cash advance apps

Some of the best payday loan apps that accept Chime are:

• Honest Loans: This platform offers loans starting at $100. Funding is often available within one business day.
• Dave: This app offers a $500 cash advance with direct deposit and can connect to your Chime account. There’s no interest or credit check required.
• Fig Loans: Fig Loans offer small loans up to $500 that are repaid over four months. The APR works out to roughly 190%, which sounds like a lot, but is actually far less than the 300%+ APR you’ll pay most payday lenders.
• MoneyLion: MoneyLion offers cash advances ranging from $25 to $250, or up to 15% of your recurring paycheck (with direct deposit). There is no late fee, no interest, and no credit check.
• Klover: This app offers up to $100 cash advance in minutes with no interest.
• Albert: This app offers up to $250 ahead of your paycheck. Funds are available within three business days, but you can expedite them for a small fee.
• Cleo: This app offers advances up to $100, but you will have to pay a monthly subscription fee and it can take up to four days for the money to reach your Chime account.
• Earnin: This platform offers advances up to $100. The money will take up to two business days to hit your Chime account unless you pay extra for “lightning speed,” which deposits the money within minutes. Unfortunately, Chime is not eligible for “lightning speed,” and to qualify for the loan you’ll have to have a bank balance of at least $500.
• Empower: The app offers advances up to $250. The money will take up to two business days to be deposited unless you pay an optional fee ranging from $2 to $8 to expedite delivery. Combined with the $8/month subscription fee, the costs of borrowing such small amounts could add up quickly.

Payday loan apps and services are almost always better than payday loans. Even though they withdraw the funds from your upcoming paycheck, they don’t usually charge interest, late fees or overdraft fees. The eligibility requirements are usually minimal, too, meaning you can use them even if you have bad credit.

READ MORE: Cash advance apps that work with Chime

Other Options When You Need Money Fast

Here are some alternatives to cash advance apps and payday lenders that accept Chime:

• Credit card cash advance
• Personal loan or installment loan
• Payday Alternative Loan
• Peer-to-peer loan

The Bottom Line

Since Chime works like a bank in many ways, many payday lenders will offer loans to those with a Chime account. However, payday loans are often expensive and can lead to an ongoing cycle of debt. Avoid taking out one at all costs. Instead, look for an alternative, such as a cash advance app or a low-interest personal loan.

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