Because you’re not borrowing money by using DailyPay, it’s a good way of tackling any financial emergencies without finding yourself owing money to an external lender. However, as always it’s incredibly important to maintain management of your finances so that you’re budgeting effectively and leaving yourself a sufficient amount to last the pay period.
7. FlexWage
FlexWage partners with employers to provide employees early access to their earnings, should they need it. In order to gain access to the service, you will need a link from your employer, this link will direct you to an enrollment form which is to be completed. Upon completion, you will receive a specific FlexWage debit card, on to which your funds can be transferred.
FlexWage is only accessible to those whose employers are partnered with the service, and fees for early deposits depend on your employer and will be deducted from your paycheck. Once the FlexWage Pay Card has been activated, it can be used just as you would a regular debit card.
8. Current
Like Chime, Current is a mobile banking app offering users the option to receive their paycheck up to two days earlier than their regular payday. With their checking account, direct deposits are available to access as soon as they have been deposited by your employer, often two days before payday.
To access this feature, amongst others, you will need to pay a fee of $4.99, however, they do offer a 30-day trial period. The account comes with various other financial services such as an interest-free overdraft up to $100. This might be a good way of avoiding costly fees but borrowing of any kind should be done with caution and a good deal of planning.
9. PayActiv
PayActiv offers a range of financial management services through its app. Continue reading “Alternatives For When You Need Money Quickly”