Paycheck advance apps: What to know before you download

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Many paycheck advance apps and services let users borrow a small amount of their expected earnings, usually in exchange for a small fee. These advances are offered through your employer as a workplace benefit or directly to you through an app. In both cases, the employee decides when to take a loan and commits to paying it back on their next payday. It seems like an attractive offer if you need some extra cash between paychecks, but some consumer advocates say the apps amount to little more than payday loans.

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