Earnin is a financial app that lets you take an advance on your earned wages before payday. An alternative to payday loans and overdraft fees, Earnin can help workers get the money they’ve earned as they earned it.
How does Earnin work
With Earnin, you get an advance of your earned wages by requesting money into your account. The limit is up to $100 per day based on what you’ve already earned.
Earnin operates under a pay as you go giving the users the opportunity to value the service and send a “tip” to the company. There are no fees, interest, or hidden costs.
With Earnin, your employment and income are verified through time card submission, paycheck direct deposits, and geo-tracking. When your paycheck is direct deposited, Earnin will deduct the amount during payday. Any tips you’ve given will also be taken that day.
There is no credit check done to use the service.
Who can use Earnin
- A worker who gets over 50% of a direct deposit into checking account
- A regular pay schedule (weekly, biweekly, semi-monthly, monthly)
- A fixed work location or use an online/electronic timekeeping system at work
If you’re paid via prepaid cards, direct deposit into a savings account or get paid from unemployment, SSI, disability, pension, insurance payments, you are currently not eligible.
How to get a paycheck advance
Connect your bank account and add your employment info to help Earnin recognize your pay schedule. You can then request an advance of your earned wages and Earnin will verify your hours worked. The money will be deposited into your checking account.