Earnin is a cash advance app that lets you access money you’ve earned at work before your next paycheck with no fees or interest. Anyone working a job who receives paychecks into a checking account can use the app. I’ve used Earnin for 3 months now, it’s legit, but the app could use some improvements. I’ll explain.
One has to go through a few steps to get an account verified, and it can take a few days to complete. First is setting employer and job info. If you go to work the app requires location access to check when you’re working. You can also set up an online schedule. Location access seemed easier and faster so that’s what I went with.
The next step is setting up your bank account. Earning only works with checking accounts where your paycheck is deposited. The app will make 2 small transactions to verify your bank which can take up to 1-4 business days. After that everything should be ready to go. This is where I ran into a problem.
After verifying my bank and employment info I needed to upload a picture of my paystub. Easy right? Not really. I uploaded a picture and then waited 2 days while my account sat in pending. It wasn’t until I contacted support that the issue was fixed. I talked with a live support member and uploaded a screenshot of the paystub in my checking account, and after that my account was fixed.
The max you can withdraw per pay period is $100, which can be increased under certain requirements. Remember, you are paying $0 dollars for a payday loan which is amazing. Other apps like Dave only allow $75. That’s why I like Earnin better.
I love this app. This is the first time I’ve ever received a portion of my paycheck early. Getting paid bi-weekly sucks. We have the technology to get paid everyday but we don’t, so seeing payday advance apps like this popping up is great. I think it’s the next step into the future of getting paid every day.
Earnin is great. I think it’s perfect for college students or young people who are living paycheck to paycheck and have a few bills to pay. It’s still very important to keep a budget and not spend more than you make, but for some of us just a little chunk of change really helps. I’ve had my fair share of being short on cash right before my paycheck and thanks to this app I’ve avoided an overdraft fee.
All that said- how does this app make money? Tips. You can tip a certain amount every time you withdraw cash, or tip nothing. There’s also a thing where people can pay it forward and tip for you. You can keep the chain going and pay it forward to. As of December 2018, the app is #11 in finance on the App Store.