Klover 2023 Review: Cash Advances in Exchange for Your Data
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Pros & Cons
- No mandatory fees.
- Does not overdraw users’ accounts.
- Small advance limits of $200.
- Advances take three days to reach users’ accounts.
- No option to extend repayment date.
- High fast-funding fees.
Compare to Other Lenders
Full Review of Klover
Klover is a mobile app that provides small advances in exchange for users’ data that it shares with its advertising and business partners. The app provides advances based on users’ bank account activity, but users can also take surveys, upload receipts and connect retail accounts to the app to get an advance.
The app has strict eligibility requirements compared to its competitors. Fast-funding fees are high for such small cash advances, and not paying them means waiting three days to get the money. If you qualify, don’t mind the wait and are willing to share your financial and online activity data with Klover’s partners, it can be an easy way to borrow a small amount of cash.
» MORE: Compare cash advance apps
Table of contents
Klover advance amounts, fees and repayment terms
$5 to $200.
Withdrawn from your bank account on the date Klover determines to be your next payday or seven days from the advance date.
Time to fund without express fee
3 business days.
Time to fund with express fee
- What to know about optional tips
Regulators like the Consumer Financial Protection Bureau don’t classify tips as interest, but some consumer advocates argue they should because asking a user to decide how much to tip doesn’t give them a fair chance to compare the cost with other borrowing options. NerdWallet recommends not volunteering a tip for a cash advance.
Should you use Klover’s cash advance?
When used occasionally, Klover can be useful if you:
Have a small expense.
Have a checking account that receives regular deposits from an employer.
Can use your next paycheck to cover the money owed to the app as well as your other monthly expenses.
Don’t need the funds fast, or are willing to pay a fee to get them quickly.
Klover might not be a good solution if you:
Are concerned about data privacy.
Regularly spend more than you earn.
Need more than $200.
Though cash advances from an app are generally cheaper than payday loans, they may encourage users to rely on borrowed money to bridge income gaps, which can lead to a cycle of borrowing. In 2021, the Financial Health Network released a study that included multiple years of usage data and found that app users frequently take advances consecutively — behavior that is consistent with payday loan borrowing.
Is Klover legit?
Klover is a real company based in Chicago that has been offering cash advances since 2019. The company rebranded to Attain in 2022 but still uses Klover as the app’s consumer-facing brand name.
Recent customer complaints with the Better Business Bureau are focused around unauthorized withdrawals from Klover.
How to qualify for a Klover cash advance
Like most other cash advance apps, Klover does not check users’ credit to determine eligibility. Instead, the app reviews a user’s connected bank account to determine whether they qualify for an advance and how much they can get.
The following basic requirements must be met to be eligible for an advance:
Must be a U.S. citizen.
Must be 18 in most states.
Must have a valid checking account and debit card.
When a user signs up for a Klover account, they must provide their:
Name, email, home address and phone number.
Employment information, including the company’s address.
Checking account with a linked debit card.
Here’s what the app says users’ bank accounts should show in order to qualify for an advance:
Activity and good standing for at least the last 90 days.
At least three consistent direct deposits from the same employer in the last 60 days.
Multiple paychecks with the exact same descriptions.
Using Klover’s points program for larger advances
Users start with a $100 advance limit, but can increase the limit to $200 by participating in the app’s points program. Users can also pay a fast-funding fee with points. Points-based advances have softer requirements than the eligibility-based advances.
The points program requires users to provide some type of data in exchange for points, which equate to dollars. Points are unlimited, don’t expire and can’t be transferred to another user. Unlike eligibility-based advances, points-based advances are repaid seven days after they’re requested.
Here are the options to accumulate points, according to Klover.
What to do
How many points it’s worth
Upload receipts from recent transactions.
1 - 5 points.
Watch a video ad.
Check your spending habits.
Link an external account, like a Walgreens, Target or Kroger account.
Refer a friend
Sign up for an offer with one of Klover’s partners.
Take a survey in the app.
What to know about Klover’s data use
Klover makes money by using aggregated data to help its partners measure the effectiveness of their advertising campaigns and conduct market research. This data may include users' bank account activity, use of the app, survey responses and phone usage. The company says it never shares customers’ personally identifiable information.
Users must provide consent for Klover to access the data; they can withdraw consent by deleting their account.
How Klover cash advances work
Here’s how Klover advances work, according to the company.
Download the app and create an account.
Provide your bank account and debit card information.
If you’re eligible for an advance based on your bank account information, the app will show your advance limit. If not, you can take surveys, upload receipts or choose an offer from the app’s offer page to earn points.
When you take a Klover advance, the app will ask if you want to provide an optional tip or pay a fee to get funds instantly.
If you decline the fee, your funds will arrive in three business days.
For eligibility-based advances, the app will withdraw funds on your next payday. For points-based advances, the app debits your account seven days after the request.
Can I change my Klover advance due date?
No. Unlike most apps, Klover does not allow users to request a payment extension.
Will Klover’s advance cause an overdraft fee?
No. If a user’s account does not have sufficient funds to repay the advance on the due date, the app will do a partial withdrawal to take whatever amount is available.
How do I contact Klover’s customer service?
Users can contact Klover via phone call, email or in the app.
Other Klover features
Credit and spending tools
For $3.99 per month, users can sign up for Klover+, which includes a credit monitoring tool. Klover+ members can also see how their spending compares to other users and upload receipts to see what others are paying for the same products at other retailers.
Some banks and budgeting apps provide credit score monitoring and budgeting tools for free.
Compare Klover to other cash advance apps
Klover outperforms other apps in its underwriting — the app reviews at least three months of bank account history and has strict requirements to ensure users have steady income before providing an advance. Still, if a user doesn’t meet the requirements, they can get a smaller advance by earning points.
The maximum $200 advance is low among cash advance apps, and it’s even lower if you opt out of the points program.
Though the app charges no mandatory fees, its fast-funding fee of up to $20.78 is higher than those of its competitors, most of whom offer larger advances. Though the app says using your financial and mobile device behavior data keeps the advances affordable, you may still end up paying more for less with Klover.
Klover vs. other cash advance apps
Speed without paying a fee
1 to 3 days.
$9.99 monthly subscription fee.
Up to $100 per day, $750 per pay period.
1 to 3 days.
$8 monthly subscription fee unless you opt out.
Up to $500.
2 to 3 days.
$1 monthly membership fee.
12 hours to 5 days.
Approval takes up to 3 days.
Funding takes minutes.
3 business days.
NerdWallet reviews and rates cash advance products from financial companies that provide cash advance apps. We collect over 24 data points from each company, verify the information with company representatives and compare the app with others that seek the same customer or offer a similar cash advance product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
The maximum allowable rating for cash advance apps that we review is four stars. Our star ratings award points to cash advance apps that offer consumer-friendly features, including: caps on voluntary tips, protections from overdraft fees caused by app withdrawals, low cost of borrowing and an assessment of the user’s finances before providing an advance. The system also rewards points for features that a consumer seeking an advance would find useful, such as: fast funding without a fee, allowing users to borrow less than they were approved for and customer ratings. Additional points are awarded to apps that provide pathways to budgeting and saving, which are features that can help prevent a user from habitually reborrowing. We weigh these factors based on our assessment of which are the most important for consumers and how they impact consumers’ experiences.