Best Instant Cash Advance Apps in Canada (Alternatives to Dave)

In the US, apps like Dave and Earnin have revolutionized how people handle cash flow gaps. They offer small, interest-free advances to help you buy groceries or gas until payday hits.

Canadians have been asking: “Is there an app like Dave in Canada?”

The answer is Yes. It’s called KOHO Cover.

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The Problem with Payday Loans

Traditionally, if you were short $50 before payday, your only option was a payday loan. These are predatory, charging annual interest rates (APR) of 400%+. They are a debt trap.

The Solution: KOHO Cover

KOHO Cover is designed to be the ethical alternative. It acts as an interest-free overdraft.

How It Works:

1. Eligibility: Based on your direct deposit history. If you deposit your paycheque into KOHO, you likely qualify.
2. The Advance: You can access up to $250 instantly.
3. The Cost: You pay a small monthly subscription fee (or sometimes a “tip” model depending on the version). There is NO interest.
4. Repayment: The money is automatically deducted when your next paycheque lands.

Comparison: KOHO vs. Others

The advantage of KOHO is that it is all in one place. You don’t need to link a third-party app to your bank account and wait for transfers. The money is just there when you need it.

Conclusion

If you need a safety net, don’t go to a payday lender. Use a modern cash advance tool like KOHO Cover to smooth out your cash flow without falling into a debt spiral.

Learn more about emergency cash options in our guide on KOHO vs Payday Loans, or explore KOHO’s plans to see which one includes Cover.

💰 Get Interest-Free Cash Advances

KOHO Cover gives you up to $250 with no interest. Use our KOHO referral code C4MNILZARC to get a sign up bonus worth up to $65.

Claim Your KOHO Referral Bonus →