Earned wage access (EWA) / cash-advance app
Apps like Earnin, Dave and Brigit that advance part of your pay — “0% interest” with hidden costs.
What "earned wage access (ewa) / cash-advance app" means
Earned wage access apps advance a slice of your earned-but-unpaid wages and take it back on payday. They market themselves as "0% interest," but the cost hides in optional tips, instant-transfer fees and monthly subscriptions — which, annualized on a small short advance, can rival a payday loan's APR.
They are cheaper and less dangerous than a tribal or payday loan, but they share the core risk: automatic repayment that can overdraft your account, and a repeat-use cycle. Decline the tip and the express fee and they are far cheaper.