Payactiv app review: A cash advance app that works with employers

Written by: Jackie Lam
• Updated •2 min read
This date may not reflect recent changes in individual terms.
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In a Nutshell

If you’re in a financial pinch, Payactiv can help you get access up to half your paycheck before payday. But fees may apply depending on how you have your money deposited.
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What you need to know about a Payactiv personal loan

Payactiv in 2012 created earned wage access, a service that allows workers to get an advance on their paychecks between pay periods. Payactiv is the Consumer Financial Protection Bureau’s first approved EWA provider.

Who is Payactiv good for?

Using Payactiv to get an advance on your paycheck can help you cover an emergency expense without having to resort to payday loans, which are known to be risky.

But if you find yourself needing to borrow cash against your paycheck regularly, it may be a good idea to take a closer look at your finances and work on making a monthly budget to keep your spending on track.

Not sure if Payactiv is right for you? Consider these alternatives.

  • Earnin: Earnin lets you tap into up to $500 of your earnings two days ahead of payday. 
  • Dave: Dave is a cash advance app that offers up to $200 as a paycheck advance and can help you build up your credit history.

*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.

About the author: Jackie Lam is an L.A.-based money writer who is passionate about helping creatives with their finances and cultivating community among entrepreneurs. Her clients include Fortune 500 companies and FinTech startups, and… Read more.