Today we are reviewing one of the most popular PayDay Loan apps on the market. It is our hope that you never have need for one. But in the event you do find yourself in need of a little extra financial-pick-me-up…applet.mobi got you covered. ! Let’s pop open the trunk of Empower Finance App and see what makes it tick.
Summary of Empower Finance Cash Advance App
Empower Finance App is a subscription-based financial technology company offering bank accounts, budgeting tools, and cash advances.
In May 2017, Empower was launched as an iOS-only app by Warren Hogarth. Prior to the launch, Warren Hogarth had spent more than 7 years as a partner with Sequoia, where he gained deep insights into how fintech startups, to include Stripe, Klarma, SunRun, Square, and Prosper. At Sequoia he helped simplify the way people approach the management of money, payments, and investments.
Forbes, Time Magazine, and Apple once recommended Empower as the “Best Tech Apps To Help You Save, Invest, And Manage Your Finances” and “New Apps We Love”.
In this review article, we will dive into the pros, cons, and other tidbits on Empower’s financial solutions.
How to Know If Empower Finance Service Is For You
The paycheck advance feature of Empower can be helpful when you:
- Are in need of an emergency loan to solve an urgent financial problem?
- Are in need of banking services or budgeting help
- Are prudent with your finances
- Are salaried workers with guaranteed income to repay any debt
Empower May not Suite your needs if:
- Your expense is always more than your regular earnings.
- You are not good at budgeting money.
Features of Empower Finance Solution
Credit: Play Store
Where you can get $250 dollars quick with the:
- No interest
- No late fees
- No credit check
High–Interest Checking Account
Earn interest on idle money sitting in your checking account. You will earn 0.25% APY(Annual Percentage Yield) and there are the:
- No minimum
- No overdraft fee
- No insufficient funds fees
- ATM fees are waived for the first three withdrawals in a month.
- Automated alerts when your spending habit exceeds your normal levels.
Automatic Saving Account
Set your account to auto-save and let the app help you to automatically put aside some specified amount of your money on a weekly schedule.
- The app evaluates your income creating the best saving strategy for you.
- You can withdraw your savings at any
- You can also pause the saving activity whenever you like.
The Empower app helps to track your income for proper analysis and reporting. You can link all your accounts including credit cards, debit cards, and other checking accounts.
- Empower can import all the transactions into its system and categorize them for you.
- You can also set up “Spend Trackers” to self-monitor your spending.
How to Qualify for Empower App Services
- You must be to 18 years or older.
- You must have a bank account that is 30 days old or more.
- Your bank account must have had a deposit of over $200 dollars in the past three months.
How to Join and Enjoy Empower Finance Services
- Download and install the app.
- Add and verify your phone number and other relevant details.
- Connect your preferred checking account (i.e., the one you will receive regular deposits).
- Make a request for a cash advance. The system will determine the amount of loan to be approved. Select your loan amount based on these parameters.
- Decide if you want to pay an instant delivery fee to fast-track your cash delivery quicker.
Note: If you prefer not to get your cash instantly, there is a two-business-day wait.
- Develop a strategic repayment plan against your next payday.
Pros of Empower: Instant Cash Advance App
Credit: Play Store
- No-interest cash advances
- Automatic saving- decide how much you want to save weekly and select the checking account to use for the cash transfer
- Use of advanced spend tracking feature
- Cash back rewards on eligible debit card purchases
- Enjoy early paycheck access
Cons of Empower: Instant Cash Advance App
- No remote check deposit feature
- Hefty late payment fees
What is there not to like about Empower App: top notch customer care teams, great app features, budgeting and credit monitoring tools, and dare I say, CASH when you need most. Over 1 million users trust Empower with their financial health.
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