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Key takeaways
- EarnIn is a fintech app that lets users access a portion of their earned wages before payday. There are no interest charges, no mandatory fees, and no credit check.
- EarnIn can send cash instantly, allows users to reschedule payments, and offers a balance shield feature to protect against overdrafts.
- To qualify for EarnIn you must be consistently employed, receive direct deposits, and have a fixed work location or online timesheet.
EarnIn is an innovative app that let you access your earned wages before payday. EarnIn is not a lender, and this is not a loan, so there is no interest or credit check. Nor are there mandatory fees (tipping is optional and capped at $14). Instead, you get an advance on your pay up to $100 per day or $750 per pay period. The app a good alternative to payday and other high cost loans.
If you need cash before payday and are considering EarnIn, keep reading to learn more about how it works.
EarnIn at a Glance
EarnIn is a fintech app started by Ram Palaniappan back in 2013. It’s built on the premise of empowering individuals by allowing them to access their money as they earn it, rather than waiting for the traditional payday. This approach helps people manage unexpected expenses and avoid overdraft fees or high-interest loans.
EarnIn community members can access up to $100 per day and up to $750 per pay period of money they’ve already earned. How much you can advance depends on your pay rate and financial habits. And will be reevaluated every pay period. There are no mandatory fees, no credit check, and no interest when you use EarnIn.
Reimagining the way money moves
Get up to $100 per day within minutes! No interest. No credit check. No mandatory fees.
Reimagining the way money moves
Get up to $100 per day within minutes! No interest. No credit check. No mandatory fees.
EarnIn Features and Perks
There are multiple features and perks that make EarnIn stand out as an on-demand wage app. The main one is of course instant access to your earned wages without any fees or credit checks.
Instant Earnings
If you need your cash instantly, you can pay a fast-funding fee called Lighting Speed and get your earnings within 30 minutes. It costs $1.99 to $4.99 depending on the cash advance amount. Otherwise, you’ll only have to wait one to three business days but it’s completely fee-free. EarnIn waives the fee the first time you use Lighting Speed. Access your cash instantly for free.
Change Due Date
EarnIn allows you to reschedule when your repayment is due in case you cannot pay. All you have to do is notify EarnIn’s support team one business before your due date. The catch is, you can only reschedule due dates every 60 days.
Great App
“Love this app. Perfect for the last few days before a paycheck, or if you’re spent but need food or whatever. The tipping system is really cool, and the way they calculate earnings is also innovative. Probably the best on if you need money asap on account of the “lightening” function. Overall great app. Only thing I might suggest is to have a program to report on time payments to the big 3 to help people’s credit score.” Kristian Harris
Balance Shield Protection
EarnIn does not have any measures in place to prevent an overdraft. If your bank balance is low when your due date comes, EarnIn may cause your account to go negative. You can opt-in to Balance Shield, the app’s low-balance alert feature to help prevent this from happening. Add Balance Shield Cash Out and EarnIn will automatically send you $100 when your balance drops below a certain level. This way your account will stay positive and you won’t accidentally overdraw.
Low Cost
There is always a no-cost option to access the money you’ve already earned through the app. EarnIn does not charge a subscription fee or any other mandatory fee. You are given the option to tip from $0 to $14 every time you cash out, but it is not required. Not tipping will not affect your access to cash advances on the app.
Boost Program
Have another EarnIn Community Member vouch for you and EarnIn will temporarily raise your pay period limit by $50.
Monitor Your Credit Score
You can track your credit score for free with EarnIn. View your credit usage, open accounts, and payment history. Everything that lenders see. You will also get alters whenever anything changes so that you can stay ahead of any surprises. Taking part in this feature will not impact your credit score or affect how much cash you can advance.
Get Paid Before Payday!
How to Qualify for an EarnIn Advance
EarnIn makes it easy to get a cash advance because they believe that everyone should be able to access their wages at any time. The app does have stricter eligibility requirements than other cash advance apps since the amount you can advance is based on what you’ve already earned.
To qualify for an advance from EarnIn, you need to:
- Be consistently employed
- Receive direct deposits
- Have a regular pay schedule and make at least $350 per pay period
- Have more than 50% of your direct deposit sent to a checking account
- Be able to verify a fixed work location or provide a work email address
- Have a valid U.S. cellphone number
- Be 18 years or older
- Live in the United States
- Connecticut residents are not eligible
How Does EarnIn Work?
EarnIn uses your employment information and bank account to see your direct deposit history and calculate your earnings so they know how much you make and therefore how much they can advance you. This is essential because you can only access money once you’ve earned it.
It’s Easy to Get Started
Add your bank and employment info
New
Transfer up to $100/day (up to $750/pay period) to the linked bank account
Tip if you like. There are no interest charges and no mandatory fees.
Any earnings and tips are repaid on the next payday
Advance up to $750 per pay period
Receive your pay as you earn it. No interest. No mandatory fees. No credit check.
Advance up to $750 per pay period
Receive your pay as you earn it. No interest. No mandatory fees. No credit check.
The Best
“I have tried a ton of apps like this, but none are as good as this one. A lot of the others charge hidden fees or are complicated or you can’t reach anyone for technical issues. There is a chat feature built into the app and they fixed my issue in less than 5 minutes the one time I had trouble. It is absolutely the best app. The only way I have survived during the pandemic! Very much a blessing.” Rebecca Villa
Who EarnIn is Best For?
EarnIn is a good option for people who are employed, use an electronic timesheet, have a work email, or fixed location, and need a little extra to cover an emergency expense. A no-fee cash advance is better than a payday loan, many of which charge fees equaling a 400% APR. Before you take out a cash advance, make sure that you can cover the amount plus all your regular expenses with your next paycheck. And don’t make it a habit.
Who EarnIn Isn’t Right For?
It’s not suitable for people without a regular job or those who don’t receive paychecks via direct deposit. Freelances, contract employees, and the self-employed are not able to use the app. Also, if you’re looking to borrow large sums of money, EarnIn may not meet your needs as it limits advances to a portion of your earned wages. If you regularly spend more than you earn, EarnIn is not a good choice. You need a long term solution to manage your finances. Lastly, EarnIn is unfortunately not available for Connecticut residents.
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Final Thoughts
EarnIn offers a novel fix for when you’re out of money but know that you’re getting paid. Borrowing against your future paycheck is incredibly easy and completely free on the app. There are no high-interest rates or mandatory fees like with payday loans. Only money you’ve already earned. While EarnIn is an excellent tool for when you’re in a pinch, remember it’s best to build an emergency fund than to rely on advances to see you through.
