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Klover offers paycheck advances to customers who link an external checking account and show at least three direct deposits from their employer. Advances are repaid automatically on your next payday.
In this review, I cover how the Klover app works, what it costs, who qualifies and how it compares to similar cash advance apps.
» COMPARE: The best cash advance apps
⚠️ Before you borrow
Cash advance apps can seem like a quick and easy way to get money. But since most apps charge fees, you’ll likely end up owing more than you originally borrowed. This can trap you in a cycle of repeat borrowing that’s hard to break.
At a glance: Klover app cash advance
| Amounts available | $5 to $750 |
| Free delivery | Within a couple days to an external bank account |
| Express delivery timing and fees | Within minutes to an external bank account: $3.99 to $37.49 |
| Mandatory fees | No mandatory fees, but requests optional tip |
| Eligibility requirements | Must show 90 days of activity in your checking account and at least three recurring direct deposits from the same employer |
| Repayment | Automatically withdrawn on the date Klover determines to be your next payday |
| State availability | Undisclosed |
How does Klover work?
Klover works by giving you an advance on your paycheck up to $750. This feature is known as Klover Balance Advance.
- You’ll first need to download the Klover mobile app and create an account using your name, email address and phone number. You’ll also link your bank account and debit card.
- After requesting a cash advance, you’ll receive the funds in your bank account in one to two days.
- If you want the money sooner (within minutes), you’ll need to pay an express fee based on the advance amount.
- Klover will autowithdraw the amount you owe from your linked account on the date of your next payday. You cannot reschedule your payment date.
- Klover will only withdraw what you have available in your account to prevent overdraft fees. It will continue withdrawing funds, as they become available, until you’ve repaid the advance in full.
- You can only take out one advance at a time, so you’ll need to pay off your Klover advance before requesting another one.
When you sign up with Klover, you’ll be automatically enrolled in its points program. You can earn points by scanning receipts, taking surveys and watching video ads, among other tasks. Points can be used to get an advance or to cover an express fee. Points-based advances must be repaid in seven days, regardless of your pay schedule.
How much does Klover cost?
Klover doesn’t have any mandatory fees.
If you want the advance funds immediately, you'll pay an express fee of up to $3.99 for smaller advances ($25), scaling up to $37.49 for the maximum advance amount ($750).
Klover also requests an optional tip for its service. NerdWallet doesn’t recommend tipping for a cash advance, since this increases the cost of the advance, and you’re essentially paying to access your own money.
🤔 What does that really cost?
A $300 advance with an $19.99 express fee works out to an effective APR of roughly 173% if repaid in two weeks. Though cheaper than taking out a typical payday loan, this is still an expensive borrowing option. See our alternatives section below for cheaper ways to get quick access to cash. You can also avoid fees by choosing standard delivery.
Is Klover legit?
Klover is a legitimate financial services company. Here’s what we know:
- Klover is accredited by the Better Business Bureau with an A+ rating.
- The Klover app is rated 4.6 stars on Google Play (150,000 reviews) and 4.7 stars on the App Store (340,000 reviews).
Who qualifies for Klover?
To qualify for Klover Balance Advance, you’ll need to meet the following requirements:
- Must be physically located in the U.S.
- Must have an active checking account in good standing for at least 90 days.
- Must show at least three direct deposits from the same employer in your checking account within the last 60 days. The names must match on each deposit.
- Must show that pay is consistent and follows a set schedule.
🤓 Nerdy Tip
Your advance limit with Klover can change daily based on the activity in your bank account. The higher your direct deposits, and the lower your spending, the likelier Klover will offer a larger advance. Repaying your Klover advances on time and in full by the original due date may also help boost your advance limit. Pros and cons of using Klover
Pros
- No mandatory fees: Klover has no mandatory fees, which means you won’t pay anything extra for early access to your paycheck. Make sure to choose standard delivery when you request an advance and avoid tipping the app for its service.
- Accepts external bank accounts: Klover doesn’t require you to open a bank account with the company to get a paycheck advance, unlike other apps. Instead, you can link your bank account in which your paycheck is already deposited.
Cons
- High express fees: Though Klover offers large advance amounts, its express fees are significantly higher than similar apps we reviewed, which tend to cap this fee at $10 or less. Klover’s fee can be as high as $37.49 for a $750 advance.
- Data collection: Klover’s points program, which you’re automatically enrolled in when you request an advance, collects personal information that’s shared with Klover’s advertising and business partners. This may include demographic data, device data, geolocation data, payment data and other categories of “sensitive” data, according to Klover’s legal terms. Though you can opt out of the points program by emailing [email protected], you may lose access to the Balance Advance service.
Is Klover worth it?
Nerdy Perspective
“Other than Klover’s high advance amounts and ease of signup, there aren’t a ton of benefits to this app. Funding time is average and express fees are particularly high. Plus, the user experience isn’t ideal: The app asks for tips and collects a lot of data about you when you use its points program.”
Klover vs. Brigit vs. EarnIn
Compare Klover to other cash advance apps like Brigit and EarnIn, which offer instant advances for lower fees.
Brigit funds cash advances up to $500, and its standard delivery time is similar to Klover’s. But if you go with instant delivery, you’ll likely pay a lower express fee, depending on the amount you need to borrow.
EarnIn offers large advances up to $1,000, and its maximum express fee is only $5.99. Like Klover though, it requests an optional tip, which you should avoid.
| Klover | Brigit | EarnIn | |
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| Free delivery |
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Alternatives to using Klover
There are other ways to get quick cash besides taking out a cash advance.
Explore other ways to make money: Instead of borrowing money, consider a temporary gig to cover small gaps in your budget. You can make money at home or online by selling things you don’t need, taking surveys and testing websites, among other options.
Download a BNPL app: If you need cash to purchase an essential item, like a laptop or mattress, “buy now, pay later” apps like Affirm and Klarna may be a good option. These apps split your purchase into smaller installments, usually with no interest and no fees if you pay on time, and you don’t need good credit to qualify.
Take out a friend or family loan: Friends and family are often an untapped resource for small loans. Though it may be difficult to ask for help, you can make it easier by drawing up a contract that clearly lists when you’ll repay the loan and if you’ll pay interest.
» MORE: Learn more about family loans
Consider a pawnshop loan: A pawnshop loan lets you borrow money by using a valuable item, like jewelry or electronics, as collateral. You leave the item with the pawnshop and receive a loan based on the item’s value. If you repay the loan, including fees, by the due date, you get your item back. If you don’t repay, the shop keeps the item.
Frequently Asked Questions
Does Klover work for gig workers?
Klover likely won’t work for gig workers because of the app’s eligibility requirements. To qualify for a cash advance from Klover, you must show a consistent pay schedule, including three direct deposits from the same employer over the last 60 days.
How does Klover's points program work?
Klover’s points program works by letting you earn points for activities like scanning receipts, taking surveys or watching video ads. You can then use these points to waive express fees or to get a cash advance. You’re automatically enrolled in the points program when you sign up for Klover. As part of the program, Klover may collect sensitive data.
Does Klover affect your credit score?
No, getting a Klover advance doesn’t affect your credit score. There’s no credit check to sign up, and Klover doesn’t report your repayment to the credit bureaus.
What is Klover+?
Klover+ is an optional subscription service that includes additional financial features, like managing upcoming bills, monitoring your credit score and tracking spending. According to Klover’s legal terms, the subscription costs $4.99 per month. You don’t need to enroll in Klover+ to get a cash advance.
What happens if Klover can't collect repayment?
Klover withdraws whatever you have available in your bank account, even if it’s only a partial amount of what you owe. Klover may continue trying to collect payment as it notices available funds in your bank account. You cannot reschedule a due date with Klover.
