2022-08-04
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Cash Advance

The Gig Worker Cash Advance App

Other cash advance apps may require a specific income, but not Cleo 💙

Illustration of phone with money coming out of it
IN THIS ARTICLE:

What is a gig worker? 

Gig work is the main source of income for one in ten workers in America.

The technical definition?  Gig workers are independent contractors or freelancers who typically do short-term work for multiple clients. 

This could be project-based, part-time, hourly. It might be an ongoing contract or a temporary position.

 Some of the most common examples are:

📍 Rideshare driving (Uber, Lyft), 

📍 Delivery driving (DoorDash, UberEats) 

📍 Creative work (writing, graphic design)

📍 Software development and web design 

Most gig work can be pretty precarious. Sometimes you need $250** to tide you over until the next paycheck comes in. 

Unfortunately, getting a cash advance when you’re a gig worker or self-employed can be super tough.

Many cash advance apps request that you have a specific income requirement… but not Cleo 💅

Cleo is different ✨

She believes everyone should be able to apply for a cash advance, no matter what your employment status is.

And that’s because she knows how hard it is for people who may not have a full-time job and need a quick spot before your next paycheck.

So if you’re a gig worker, perhaps you work for Uber, Postmates, or dabble in random events work, and you’re struggling to get a cash advance, the Cleo Plus subscription might be for you 💡

First things first…

What is Cleo's Cash Advance?

When you’re low on funds and have a bill you need to pay and wanna avoid going into your overdraft (duh), a cash advance can help you keep going until payday, so you can avoid being charged an eye-watering average of $35 in bank fees.

Depending on a few things, first-timers usually qualify for $20-$70** but once you pay it back, you’ll unlock higher amounts up to $250**.


How to get a Cash Advance*

The cash advance feature is a part of the ✨Cleo Plus✨* subscription and costs $5.99 per month. Which FYI, is WAY less than those pesky overdraft fees.

So if you’re someone who overdrafts regularly, this is for you.

If you manage to avoid even just two overdraft fees a month (around $70), you’ve already basically made back the cost of Cleo Plus for a year ($71.88).

  • You’ll just need to download Cleo and sign up for Plus, and then type “cash advance” or “cover me” to Cleo in the chat, then follow the prompts
  • She’ll let you know if you qualify for the advance and how much for once she has checked to see you’re in a position to repay on your chosen date. Cleo doesn’t require proof of employment, payslips etc – she just uses an algorithm. And if for any reason you’re not eligible, you can get the $5.99 back if you cancel within 7 days of signing up
  • Once you’ve chosen your cash advance amount, it’s up to you when to repay (typically between 3 to 14 days)

The funds should reach your account within 4 days, however, if it’s an emergency and you need it within 24 hours, you can pay an express fee.

If for any reason you’re not eligible for a cash advance, you’ll still be able to use the free features Cleo offers which will help you improve your financial health so you can reapply in the future 🚀

PSA: check again when your latest paycheck has come in. Sometimes that can affect the algorithm.

The Plus Subscription explained

Cleo’s cash advance is part of the Cleo Plus* subscription, which gives you access to more financially useful features which in time, should help you build your credit history.

The cash advance is interest free and there are no credit checks. And unlike payday loans, other cash advance apps and overdraft fees, it won’t affect your credit score 💃

You can also get cashback when you spend at some of your favorite stores 💅‍

With Cleo’s free subscription you can:

  • Set up a budget
  • Autosave
  • Track your money
  • Roast mode
  • Hype mode
  • Get speedy support (replies take 6 minutes on average)‍

With Cleo Plus you’ll get the above features AND:

  • Access to your credit scoring
  • Personalized saving goals and round ups
  • Cashback at some of your favorite stores
  • Up to $250** cash advance (if you’re eligible)


And just when you thought things couldn’t get any better, signing up only takes 2 minutes 🔥

If you wanna find out more about the Plus* subscription, check out our blog is cleo plus worth it?

So, why Cleo?

🚀 No credit checks or interest

🚀 Get help creating and sticking to a budget

🚀 Personalized tips on how you can save more

🚀 Get roasted for wasting money

Cleo was made to help you escape the payday lending cycle and avoid the dumb overdraft traps so you can improve your financial health 💡

If you want to find out more about other cash advance apps, hop on over to the top 5 cash advance apps 2022 blog. Because we’re so not biased.

Enjoy this post? Give it a share or send it along to a friend. You never know, it could make a big difference. And of course, if you want to try the best money app in the world for free, just hit this link right here.

Big love. Cleo 💙

*Cleo Plus is our subscription service, which offers eligible users cashback on your money, information on your credit score, and access to cash advances (“Cash Advance”). Advance amounts will vary based on eligibility. If you don’t want to subscribe, you can also apply for cash advance by contacting our customer service at team@meetcleo.com. To learn more about eligibility, repayment, and overall terms, please visit: meetcleo.com/terms
**Eligibility requirements apply. Not all users will qualify. Advance amounts range from $20 to $250. Same day transfers subject to express fees. Visit
meetcleo.com/terms for more information.

FAQs
Still have questions? Find answers below.
What exactly is a gig worker?
I'm a gig worker and short on cash. How can Cleo help?
What’s the difference between the free Cleo subscription and Cleo Plus?
Does Cleo perform credit checks or charge interest on cash advances?
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