After years of high interest rates and a rising cost of living, you might struggle to make ends meet. All it takes is one unexpected bill to derail your budget and ultimately send you into overdraft. If you’re tired of stressing about overdraft fees, Bree can provide relief. With instant access to a cash advance of up to $350 with 0% interest, thousands of Canadians are turning to Bree to help them bridge the paycheck gap. Here’s everything you need to know about Bree, from how it works to whether it’s worth it.
What is Bree?
Founded in 2021, Bree is an online financial technology company that helps Canadians living paycheck to paycheck access interest-free cash advances up to $350. You can think of Bree as a trustworthy financial partner who can help you get by when you need money to cover an unexpected bill or life event. The goal is to help you avoid going into overdraft and having to pay those costly NSF fees.
How does Bree work?
With Bree, you can get a cash advance of up to $350 deposited straight into your bank account within minutes. Bree charges 0% interest, and you don’t have to worry about your credit score because there’s no credit check. You can sign up for Bree in minutes; everything is done online.
How can you get approved for Bree?
Bree is available to Canadians over 18 years old in every province and territory. To get a cash advance from Bree, you’ll need the following:
- A valid Canadian bank account and debit card.
- Proof that your employer deposits money into your checking account on consistent dates.
- Proof that you’ll have enough money to pay Bree back after your next paycheck.
To confirm this information, Bree will check to see if your paychecks are set up as direct deposits and that your transaction history shows at least two paychecks on consistent dates. For example, you get paid on the 15th and last day of the month.
Bree will also ensure that you have enough money left in your account after you repay your loan. The goal is to avoid going into overdraft and paying fees.
How much does Bree cost?
If you meet the eligibility requirements, you can get a cash advance delivered to your checking account free of charge. The only costs to consider with Bree include:
Optional express delivery. Bree’s default delivery method is standard delivery, which deposits funds into your account within 3 business days. If you need cash immediately, Bree offers an expedited service for a small fee, allowing you to access your money within minutes.
Optional tip. Bree survives on tips. So, if you feel inclined to show some love, that’s up to you. Bree can charge 0% interest instead of the 3.25% APR your bank charges for overdraft fees. Again, tipping is entirely voluntary.
Membership. All new users get a 30-day free trial of Bree to try out the services. Once the trial period ends, Bree’s membership fee is $2.99 monthly and can be cancelled anytime.
How long does it take to get a cash advance with Bree?
Bree offers two delivery options:
- Standard. Deposits funds into your checking account within 3 business days, completely free of charge.
- Express. Delivers money to your connected credit card in as little as 5 minutes for a small fee.
If you initially choose standard delivery but need the funds sooner, you can contact Bree’s customer support team to upgrade to express delivery.
How do I pay back my loan?
With Bree, you repay your cash advance when you get paid. You’ll be asked to select your next payday when you apply for a cash advance. Bree uses this information to collect your balance from your connected checking account automatically, so you don’t have to worry about remembering to repay. If you want to repay your loan early, you can do so without any early payment penalties.
The benefits of Bree
While Bree might sound too good to be true, there’s no catch. When you use Bree, you can take advantage of the following benefits:
- Up to $350 cash advances
- No interest
- No late fees
- No credit check and no impact on your credit score
- Everything is done online – sign up, apply, and get cash instantly
- Get money in as little as 5 minutes
- Available 24/7
- Free 30-day trial
- Cancel at any time
Is Bree worth it?
If you’re still unsure whether you want to try Bree, check out some of the customer reviews on Trustpilot. With a rating of 4.6/5, Bree customers have a lot of great things to say. With no interest, late fees, or credit checks, you only stand to lose those pesky overdraft fees.
