Klover App Review

Klover’s cash advance feature offers interest-free (but not fee-free) cash advances of $5 to $200 to users with regular paychecks and active checking accounts. To be eligible, you need to have a consistent income of at least $250 per paycheck from the same employer, deposited directly into your bank account on a weekly or bi-weekly schedule. The app requires a monthly subscription fee of $4.99 after a 30-day free trial.

Standard cash advances take up to three business days to reach your account. If you need the money faster, you can pay an optional express fee ranging from $1.49 to $19.99, depending on the amount advanced, to receive your funds within a few hours. Klover also allows you to earn points by engaging with the app, which you can use to offset express fees, increase your advance limit, or enter daily cash sweepstakes.

Repayment is automatically scheduled when Klover detects your next paycheck deposit or on a date you select. There are no interest charges, late fees, or credit checks involved. While Klover does ask for optional tips, tipping isn't required to use the app's services.

Klover might work well for you if:

• Need cash before payday: You need up to $200 to cover expenses before your next paycheck without paying interest
• Regular income: You receive consistent weekly or bi-weekly paychecks from an employer or SSI deposited directly into your checking account
• Earn rewards: You're willing to watch ads, take surveys, or scan receipts to earn points for extra benefits like larger advances or offsetting fees
• No credit check: You prefer to access cash advances without undergoing a credit check
• Financial tools: You're interested in budgeting and savings tools to help manage your finances

When Klover might not be a good fit:

• Irregular or gig income: If your income comes from self-employment or gig work like Uber or DoorDash, as this income isn't accepted
• Monthly income: If you receive income on a monthly basis, since Klover requires weekly or bi-weekly deposits
• Avoiding subscription fees: If you're not keen on paying the $4.99 monthly subscription fee after the 30-day free trial
• No checking account: If you don't have an active checking account that's been open and in good standing for at least 90 days
• Outside the U.S.: If you're not physically located in the United States

To qualify, you must meet the following criteria:

1. Regular income: Receive consistent paychecks from an employer or Social Security Income (SSI). For employer paychecks, you need at least three direct deposits of $250 or more from the same employer within the last 60 days, on a weekly or bi-weekly schedule. SSI payments must also be on a weekly or bi-weekly schedule (monthly SSI payments aren't accepted).
2. Direct deposit: Your income must be directly deposited into your bank account by your employer's payroll system or a recognized source for SSI. Transfers, cash deposits, mobile deposits, and payments via apps like PayPal, Venmo, or CashApp won't qualify.
3. Bank account: Have a checking account (not a savings account) that's been active and in good standing for at least 90 days.
4. Income frequency: Only income on a weekly or bi-weekly schedule is accepted. Monthly income payments aren't accepted.
5. Location: You must be physically located in the United States.

Note that self-employment income, including earnings from gig apps like Uber or DoorDash, and unemployment benefits are not eligible. By meeting these requirements, you'll be eligible to request a cash advance through the Klover app.

You'll usually receive your cash advance from Klover within three business days with the free standard transfer.

If you need your money faster, you can choose the Express option to get your funds within a few hours. The Express Fee depends on the amount you borrow:

• $1.49 for a $5 advance
• Up to $3.99 for a $25 advance
• Up to $5.89 for a $40 advance
• Up to $7.49 for a $50 advance
• Up to $8.49 for a $100 advance
• Up to $9.99 for a $125 advance
• Up to $11.99 for a $150 advance
• Up to $14.99 for a $200 advance
• Up to $17.99 for a $250 advance
• Up to $19.99 for a $300 advance

You can offset these Express Fees using points from your Klover+ account, where every 500 points equals $1.

Klover will request the money back after your next paycheck is deposited into your account or on the date you select in the app, whichever is later. Keep in mind that:

1. Points-based advances: If you use points for an advance, repayment is due 7 days after your request, regardless of your payday.
2. Set repayment date: You can choose your repayment date when requesting an advance through the app.
3. No interest or late fees: There are no interest charges or late fees, but not repaying on time might affect your ability to get future advances.

Besides offering cash advances up to $200, Klover has a few other features you might find interesting during or after your 30-day free trial, especially if you decide to continue with the $4.99 monthly subscription.

Earn Points and Redeem Rewards

Klover lets you earn unlimited points by engaging in various activities within the app. You can watch ads, take surveys, scan and submit receipts, link retailer accounts like Target or Walgreens, and more. These points can then be redeemed to unlock larger cash advances, cover Express Fees if you need your advance faster, or even exchanged for gift cards at popular vendors like Amazon. It's a way to get more out of the app just by doing simple tasks.

Daily Cash Sweepstakes

Every day, Klover runs cash sweepstakes where you can win $100 or one of five $20 prizes. You can use your earned points to enter these sweepstakes, with each entry costing 50 points. It's a fun little bonus where you might get some extra cash just for participating in the app's activities.

Financial Management Tools

Klover also offers personalized financial management tools to help you keep track of your spending and savings goals. You can set up budgets, monitor your income and expenses from linked accounts, and even opt into credit score monitoring to stay on top of your credit health. Plus, as you reach your savings targets, you can earn extra points to redeem for more rewards.