Branch app review: A payday loan alternative

Written by: Kat Tretina
• Updated •1 min read
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Woman sitting outside on some steps, smiling and reading a review of the Branch app on her phoneImage: Woman sitting outside on some steps, smiling and reading a review of the Branch app on her phone

In a Nutshell

The Branch app allows you to request an advance on your paycheck through a feature called Pay, which may be a lower-cost alternative to a payday loan. Instead of paying traditional interest on this advance, you can just leave a tip for the service. But not everyone is eligible for Pay, and the maximum advance amount is limited.
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What you need to know about the Branch app

If you’re facing a financial emergency and need money before you get your next paycheck, the Branch app may be a good alternative to explore instead of a payday loan.

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Should I get a paycheck advance from Branch?

Taking out a paycheck advance from Branch may be a good idea if you’re an on-site, hourly worker facing an unexpected financial emergency and you don’t have any other way to cover the cost. Using the Branch app is likely less expensive than taking out a payday loan, so it may be a better decision to get you through a short-term crisis.

But borrowing against your future paychecks can be a risky practice, and it may cause you to overdraw your bank account or even lead you into debt. So if you find yourself repeatedly using the Branch app to take out paycheck advances, it may be worth reviewing your finances and creating a budget to identify the root causes of the problem.

You may also want to consider another option such as a payday alternative loan, which are offered by certain federal credit unions.

About the author: Kat Tretina is a personal finance writer with a master’s degree in communication studies from West Chester University of Pennsylvania. Obsessed with her many side hustles, she focuses on helping people pay down their … Read more.