Cash Advance Dictionary

A cash advance lets you access a small amount of money before your next paycheck. If you’re new to this product, you’re not alone. Cash advances aren’t always well understood, and the terms and definitions can be confusing.

This page is a dictionary of cash advance terms. It’s not a step-by-step guide or an FAQ. Its only purpose is to define common terms in plain language. If you’re looking for details on how cash advances work, what they cost, or whether they’re right for you, our FAQs are a better place to start.

Before you dive in, it’s important to know what we mean by “cash advance” here. Cash advances are often confused with credit card cash advances, traditional personal loans, or payday loans. While those products sound similar, they usually charge interest, late fees, and may require a credit check, per Experian and the CFPB. The cash advances covered in this dictionary are different and generally don’t charge interest or late fees, and don’t require a credit check.

You don’t need to read this page from start to finish. Feel free to skim, scan, or jump straight to the terms you’re looking for.

Core Terms

Earned wage access (EWA)

Definition: A financial product that allows you to get a portion of income you’ve already earned ahead of a scheduled pay date. Some employers offer EWA by integrating providers with their payroll platforms. Other EWA providers operate directly with consumers and do not require employer or payroll system involvement.

Also called: Early wage access, on-demand pay

Example: Chime offers an employer-integrated EWA product via its Workplace platform. Chime also offers a direct-to-consumer EWA product called MyPay, which requires opening a Chime checking account and direct deposit activity to qualify. 

Cash advance 

Definition: A type of direct-to-consumer earned wage access (EWA) product that provides a small amount of money upfront to cover expenses, and is repaid later, typically from a future paycheck or bank account balance. The amount you can get is based on the money coming into and going out of your bank account. Cash advances are not tied to hours worked or employer payroll systems.

Also called: instant cash advance 

Example: A Tilt Cash Advance is a direct-to-consumer EWA product offering $10–$400 based on income and spending activity in a linked bank account. 

Eligibility & Income Terms

Eligibility

Definition: The requirements you need to meet to qualify for a cash advance. These will vary by cash advance provider. 

Also called: Qualification criteria

Example: To qualify for a Tilt Cash Advance, you connect your primary checking account via Plaid to show regular income, recurring payments, and savings activity.

Income verification

Definition: The process of confirming that you receive income, often by connecting your bank account so cash advance providers can see regular paycheck deposits.

Also called: Proof of income, income confirmation

Example: MoneyLion Instacash requires your linked bank account to show at least 3 recurring direct deposits from an employer.  

Recurring income

Definition: Income received on a predictable schedule, such as regular paychecks or direct deposits. Providers use recurring income to verify you can repay a cash advance.

Also called: Regular income, direct deposit, payroll 

Example: Providers may require certain income thresholds to qualify for a cash advance, such as at least 3 consecutive direct deposits (MoneyLion) or $1,000 minimum monthly income (Chime).

Pay cycle

Definition: The schedule that determines how often you get paid, such as weekly, biweekly, or monthly.

Also called: Pay schedule, payroll cycle, pay period

Example: If you receive a direct deposit every other Friday, your pay cycle is biweekly.

Account Terms

Linked bank account

Definition: The bank account you connect to a cash advance provider to check your eligibility and make automatic repayments.

Also called: Paycheck account, connected account, primary account

Example: Cash advance providers typically want to see the checking account where you receive paychecks.

Amount & Offer Terms

Offer

Definition: The amount of money you’re eligible to access based on your income and linked bank account activity.

Also called: Eligible amount, cash advance range

Example: You can get up to $500 from Brigit Instant Cash, but your eligible amount may be less, like $350.

Partial advance

Definition: An option from some cash advance providers to take only part of your eligible cash advance offer instead of the full amount. 

Also called: Custom amount

Example: If you’re offered a cash advance up to $350, you can choose to take $250, $300, or $350.

Repayment Terms

Automatic repayment

Definition: When a cash advance is automatically deducted from your linked bank account, usually on the next day you’re scheduled to be paid.

Also called: Auto-debit, scheduled repayment

Example: Tilt automatically withdraws the full amount of a Cash Advance, plus any fees, from your linked bank account on the same day you’re scheduled to be paid. 

Manual repayment

Definition: When you repay a cash advance on a date of your choice, rather than having it repaid automatically on a date set by the cash advance provider. 

Also called: Custom payment date

Example: You can repay InstaCash early in the MoneyLion app. 

Repayment date

Definition: The day your cash advance payment is scheduled to be automatically deducted from your linked bank account.

Also called: Payment date

Example: Many cash advance providers align repayment with your detected paycheck date. 

Repayment flexibility

Definition: Options that let you change how or when your cash advance is repaid, including changing the date or paying in installments. 

Also called: payment options

Example: Cleo offers extensions up to 14 days for cash advance repayment.

Fee & Tipping Terms

Tip

Definition: An optional payment to thank the cash advance provider for their service. 

Also called: gratuity, optional service fee

Example: You can choose to add up to $13 per EarnIn Cash Out transaction (the brand advises, “Just what you think is fair”). 

Subscription

Definition: A recurring fee, usually charged monthly or annually, that you may pay to access apps offering cash advances and other personal finance products.

Also called: Membership fee, access fee

Example: Brigit charges up to $15.99/month for its membership plans. 

Service fee

Definition: A per-use charge you may pay for a specific transaction, depending on the cash advance provider.

Also called: processing fee, transaction fee

Example: Dave charges the greater of $5 or 5% per ExtraCash transaction.

Delivery Terms

Delivery time

Definition: How long it takes for a cash advance to reach your account after you request it.

Also called: transfer time, funding speed

Example: Albert Instant Cash usually transfers in 2–3 days. 

Standard delivery

Definition: A free delivery option that usually takes 1 to 5 business days, depending on the cash advance provider.

Also called: regular delivery, free transfer

Example: Tilt Cash Advance free delivery is typically within 1 business day. 

Instant delivery

Definition: A faster delivery option that sends money to your account within minutes or hours, often for a fee.

Also called: Express delivery, fast transfer

Example: Chime charges $2–$5 for instant MyPay funding.