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Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
A cash advance alternative without the fees and interest*
- No subscription fees or mandatory fees
- No credit check and no interest
- Up to $500 of your pay ahead of payday^
Learn how we collect and use your information by visiting our Privacy Notice
MyPay leaves other alternatives to cash advances behind.
MyPay is a simple, seamless way to access your money from future direct deposits with just a few taps of a button.
Want a say in
when you get paid?
Start by opening a Chime checking account and setting up direct deposits to unlock the power of MyPay.
Set up direct deposit. To qualify for MyPay, you’ll need to receive 1 or 2 qualifying direct deposits and meet other eligibility requirements related to MyPay^.
Enroll in MyPay and see how much you can access. Once you’ve met the criteria, you’ll be able to enroll in MyPay in the app. Here, you can see how much of your pay you can access ahead of payday. Available credit limits can range from $20 to $500.
Tap Get Money and select an amount. Choose how much money you want to receive. You can select the full amount available or choose a smaller amount, based on your expenses.
Choose a funding speed. You’ll get your money through Chime MyPay within 24 hours – totally free. Need an advance now? You can select an instant advance to get paid instantly for only $2 per advance.
Repay with your next payday. When your next payday comes, you don’t have to do a thing! As soon as your paycheck lands in your Chime checking account, Chime will debit the amount you took earlier (plus any instant advance fees) from the total.
Member testimonials.
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FAQs
What is a cash advance?
A cash advance is a short-term loan that gives you fast access to money. Traditional credit card cash advances come with high interest rates and fees.
You can also use a cash advance app, typically with qualifying direct deposit, to access a portion of your paycheck ahead of payday. This may be a free service (often with optional tip), or there may be a subscription fee.
How can I borrow cash instantly?
Cash advance apps are a common way to borrow cash instantly. Many popular cash advance apps can get you money within 1 to 3 business days but offer “instant” funding options (for a fee) to get your money within minutes instead.
Some financial institutions allow for fee-free overdraft. Terms and conditions will vary by financial institution. Chime members, for instance, may qualify for SpotMe, a fee-free overdraft up to $200.**
Other options to borrow cash instantly are credit card cash advances and payday loans, but both of these have high interest rates and fees. Payday loans are particularly risky and are illegal in several states.
Finally, certain purchases may be eligible for buy now, pay later (BNPL) loans, which get you credit at checkout.
Do cash advances hurt your credit?
A benefit of a cash advance app is that it typically does not require a credit check. For instance, there’s no credit check to apply for Chime MyPay. These types of advances do not hurt your credit.
A traditional credit card cash advance can affect your credit, however, as each advance increases your credit utilization. And because such cash advances charge high interest and fees, it’s easier to fall behind on payments. Missed payments on a credit card can have a big impact on your credit.
Are there cash advances with no fees?
There are cash advances with no fees. While credit card cash advances often come with high fees and high interest rates, cash advance apps have made it possible to borrow money from your upcoming paycheck without a fee.
Some of these apps do charge a monthly subscription fee, request an optional tip, and/or charge for quick cash advances. Chime MyPay has no monthly subscription fees or tips, and qualifying members can get a portion of their pay within 24 hours totally free. Instant advances through MyPay cost $2.
Are cash advances bad?
Cash advances aren’t bad, particularly via cash advance apps with no monthly fees and no interest. These don’t impact your credit and simply allow you to access money before it’s scheduled to be paid out to you.
Credit card cash advances, on the other hand, carry high interest and fees. While they still may not be “bad,” they can be risky, as the interest accumulates quickly and could result in debt you’re unable to pay back.