Empower Finance, Inc.

Empower is a financial app that offers cash advances, a digital banking account, a credit-building card, and automated savings tools. It is not a bank. Empower's banking services are provided through nbkc bank, which is FDIC-insured. The app targets consumers who want flexible short-term liquidity without the very high costs associated with payday loans.

Empower's cash advance feature provides small interest-free advances to eligible members. Accessing the cash advance feature requires a paid monthly subscription. As with all cash advance apps, the subscription cost is a real ongoing expense that should factor into your assessment of the product's value. The effective cost of an advance depends on how frequently you use it and for how much relative to the subscription fee.

Empower also offers a credit-building card that does not require a hard credit check. This card reports activity to the credit bureaus, which can help build your credit profile over time. It functions as a secured charge card, meaning spending is limited to funds you load into a linked account.

Empower's AutoSave feature analyzes your spending and income to automatically move small amounts into savings, which can help build a financial cushion over time.

Cash advance apps are not designed to solve ongoing financial shortfalls or replace emergency savings. If you find yourself using advances regularly, consider working with a nonprofit credit counseling service to review your overall budget and financial situation.

Compare Empower against other cash advance apps including Dave, Brigit, and Albert before subscribing. Review current terms, subscription costs, and advance limits directly with Empower before signing up.