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Klover Cash Advance App: 2024 Review

Updated on Jan. 9, 2024
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At a glance

4.6
Rating: 4.6 stars out of 5
Bankrate Score
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Availability
Rating: 4.8 stars out of 5
4.8
Affordability
Rating: 4.3 stars out of 5
4.3
Customer Experience
Rating: 4.7 stars out of 5
4.7

About Bankrate Score

Founded in 2019, Klover is a digital platform that allows consumers to tap into their earnings two weeks before their next paycheck in the form of a cash advance. Aside from cash advances, Klover offers a suite of tools designed to help people stay on top of their credit and finances.

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Loan amount Up to $200
Rates
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Term lengths Two weeks

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Klover pros and cons

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Pros

  • No membership required
  • Payment extension
  • Points program
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Cons

  • Income restrictions
  • High instant deposit fees
  • Only good for small expenses

Best for small expenses

If you need money for gas, a quick grocery run, pay your cell phone bill or another small expense before your next paycheck, Klover is a low-cost option worth considering.

The company doesn’t charge interest or fees on cash advances. Funds are deposited within three business days of your request, which is relatively fast compared to its competitors. If you’re in a pinch, however, you can pay an optional fee to get the funds instantly.

How to qualify for a Klover advance

You’ll need to be a U.S. citizen, lawful permanent resident or nonresident with a physical U.S. address to qualify for Klover’s cash advances. Besides that, you must meet the following criteria:

  • Have a valid checking account that is in good standing and at least 90 days old.
  • Have received at least three consistent income direct deposits to your checking account in the last 60 days.
  • Income deposits can't be from a different pay advance company, cash deposit or cash transfer.
  • Have no pay gaps. 
  • Get paid on a weekly or bi-weekly basis.

How this app compares

Klover vs. Brigit

Though both Klover and Brigit offer similar cash advance amounts, the latter sits slightly higher at $250. Brigit also doesn’t require customers to have an established repayment history to request a payment extension, whereas Klover does. 

The biggest difference, however, lies in the cost. Brigit charges a monthly subscription fee of $9.99 to access its cash advance feature. Klover, on the other hand, offers cash advances without requiring a monthly membership fee, making it a more cost-effective option.

Klover vs. Dave

Dave requires a $1 monthly fee to access cash advances, but its limits are much higher than Klover’s — with a maximum of $500. Dave also has lower express funding fees, capped at $13.99. This makes it a better option for those who may need to cover a larger expense, such as an emergency medical bill or car repair.

Klover: In the details

What we like and what we don’t like

What we like

  • No membership required: Unlike some of its competitors, Klover doesn’t charge users a monthly fee to use its cash advance feature.
  • Payment extension: Klover offers up to three payment extensions per year for those with an established advance repayment history.
  • Points program: Users can earn points by linking an external bank account, scanning receipts and taking surveys, among other things, and redeem them for cash advances, gift cards or instant deposit fees.

What we don’t like

  • Income restrictions: While other apps just require regular deposits to be eligible for cash advances, Klover states it doesn’t accept self-employment, unemployment or monthly or semi-monthly income. To qualify, you must receive a paycheck on a weekly or bi-weekly basis.
  • High instant deposit fees: Users can get the funds deposited into their accounts within three business days without paying a fee. If you need the funds urgently, however, you’ll have to pay a fee. This fee can be as high as $16.78, depending on the amount requested.
  • Only good for small expenses: Klover’s cash advances are limited to $200. This is relatively low, considering similar apps offer advances of up to $500 — and even $750.

How to contact Klover

To get in touch with Klover’s support team, customers can submit a help request through the app or send an email. Representatives are available to answer these requests on a 24-hour basis, Monday through Friday, with a skeleton crew over the weekends. 

Customers can also reach the support team via live chat from 9:30 a.m. to 5 p.m. CT, Monday through Friday. 

How to take out an advance with Klover

To take out a cash advance with Klover, you’ll need to download the app and follow a few steps.

Klover features and perks

Klover offers a Points Program to all of its customers — no membership required. Through this program, customers can earn points for taking surveys, scanning receipts, linking an external account, watching video ads or by signing up for a partner offer.

Qualifying customers can redeem these points in the form of a cash advance or an Amazon gift card. Points can also be used to pay for instant deposit fees.

Customers with an established repayment history can also request up to three payment extensions a year. This request, however, must be submitted at least two business days before your due date. 

Additionally, Klover has a membership program, which offers spending tracking, credit monitoring and price comparison tools for just $3.99 a month.

Fees and penalties

Klover doesn’t charge any late payment fees or cash advance fees. The company only assesses a fee of $1.99 to $16.78, for getting the funds instantly instead of days, which is completely optional.

Klover frequently asked questions

How Bankrate rates Klover

Overall Score 4.6
Availability 4.8 Klover’s funding timeline is in line with industry standards, but its maximum cash advance amount is on the lower end.
Affordability 4.3 Klover’s maximum instant deposit fee is high compared to competitors.
Customer Experience 4.7 Klover only offers customer support during weekdays. It also does not offer phone support.

Methodology

To select the top cash advance apps, the Bankrate team evaluates companies using a 16-point ranking system, known as the Bankrate Score. The Bankrate Score focuses on three key aspects: availability, affordability and customer experience. These are some of the factors considered as part of each category:

  • Availability: Minimum and maximum loan amounts, overdraft protection features, repayment term lengths and funding timelines are taken into account as part of this section.
  • Affordability: For this category we looked at subscription pricing and free version availability. We also looked at additional tools and resources offered to users as part of the subscriptions, as well as any fees assessed by the companies.
  • Customer experience: Bankrate evaluates factors such as the company’s reputation through regulatory websites, like the Consumer Financial Protection Bureau (CFPB), as well as contact support options. Our team also favors apps that are highly rated and that give users the option to extend repayment in case of hardship.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.