To qualify for cash advances, we look at your bank history for the following information:
1.) You have a cash cushion in your account at the end of your paydays:
- We need to see that you are meeting your minimum average end-of-day balance on payday. We require this buffer to make sure that you can safely repay Brigit without over-drafting your account and falling into debt.
2.) You have an extra cash cushion in your account the day after your paydays:
- We need to see that you are meeting your minimum average balance the day after previous paydays. We require this extra cash cushion in order to make sure you can pay Brigit back on your paydays without over-drafting your account. The last thing we want to do is for you to get charged an overdraft fee!
3.) Bank supported by Brigit:
- We need to support your bank so we can analyze your account and accurately provide balance alerts as well as automatic and on request cash transfers.
4.) Monthly income is above the required amount and it is from the same employer:
- When we take back cash advances on your payday, we need to ensure that there will be enough funds in your account to repay us.
5.) At least 3 recurring paycheck direct deposits from the same employer:
- We need to confirm your pay schedule and paycheck amount in order to accurately analyze when to send and take out the advances.
- ATM deposits/Paper checks/Cash transfers, do not qualify.
6.) The linked checking account is at least 60 days old:
- We need sufficient bank account history so that we can accurately send you cash advances when your balance is low and in danger of running out.
7.) Balance greater than $0:
- To be approved for an advance, your bank balance will need to be above $0. If you've repaid an advance before with us, your balance will need to be greater than the negative of your approved amount (i.e, if you're approved for $250, your balance will need to be greater than -$250).
8.) Checking account activity needs to be sufficient:
- We need to see that you are using your checking account frequently so we have enough information to accurately predict when to send and withdraw funds.
So what can I do to qualify in the future?
1.) Reduce your spending after payday
The days after your payday are the most important. Try to spend a little less on the first days after you get paid
2.) Check that your income is detected
Our super smart algorithm will usually detect your income, but sometimes it can be missed. On the homepage, click on Next Paycheck and make sure your income and pay schedule is correct.