EarnIn Cash Advance 2024 App Review

Cash advance apps can help people who need money quickly for unexpected expenses, such as a medical bill or car repair.

Earnin is a free cash withdrawal app that gives customers access to their past earnings before withdrawal. Users can receive up to $100 per day and $750 for the settlement period in your bank account and do not pay mandatory fees or interest. Still, the app requires more stringent screening than others: Customers qualify for the program by verifying employment and having a steady paycheck deposited directly into a U.S. bank account.

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Because Earnin users can get an advance on their paycheck at no cost, it’s a cheaper way to raise funds than using credit cards, payday loans, home equity loans or other high-interest debt options. EarnIn stands out from the competition as a cheaper option with a higher limit per billing period.

However, using cash advances regularly can become habit-forming and detrimental to your long-term financial goals. Use cash withdrawal apps sparingly.

Who is EarnIn best for?

Getting paid is best for people who live paycheck to paycheck and sometimes need access to cash before they get paid. It may also attract people who want to avoid credit cards and prefer cash advance apps to avoid revolving debt. Anyone without emergency savings may find cash advance apps like EarnIn better than more expensive or predatory lender options like payday loans or secured loans. However, cash advance applications should not replace a permanent emergency fund in the long run.

How the EarnIn app works

New users create an account with Earnin and then link their bank account to their debit card. EarnIn verifies your identity and employment income. Your after-tax hourly wage must be at least $4, so some service industry workers or gig workers who rely on tips may not qualify. Social Security and other types of government income also don’t count.

Once an account is set up, connected and verified, users can apply for cash advances. EarnIn will electronically deposit funds into your linked bank account.

Earnin tracks your physical location, employer email address or timesheet to make sure you’re working. The app calculates how much cash you can withdraw based on your usual payment amount and the number of days you have worked. Once payment is received, your available earnings will be reset.

Standard cash withdrawals take one to two business days and are free of charge. Instant transfers are processed in minutes but cost $3.99 per advance. The first use of Lightning Speed ​​is free.

Earnin will automatically collect your down payment amount and any tips and fees when your next paycheck arrives. The app asks for an optional tip with repayment.

Requirements to get a cash advance from EarnIn

• Earnin account.
• Linked bank account.
• Verified employment with a consistent direct deposit payment schedule (weekly, bi-weekly, semi-monthly or monthly).
• Must earn at least $320 per pay period.
• Permanent place of work or e-mail address provided by the employer.
• US resident and 18 years or older.
• A valid US cell phone number.

How to get a cash advance with EarnIn step by step

Step 1: Open an EarnIn account

New customers can start on a desktop or mobile device. The Earnin app is available in the Apple App Store and Google Play.

Step 2: Link your bank account to your direct deposit check

Earnin connects you securely to your bank account via Plaid.

Step 3: Verify employment and direct deposit

Earnin uses your bank account and employment information to estimate how much you’ve earned (and how much cash you can withdraw) so far. EarnIn will not contact your employer directly.

Users can verify earnings through EarnIn in three different ways:

• Please enter your work email address.
• Take advantage of their “GPS earnings” system where they track you while you work at a stationary physical location.
• Submit weekly schedules.

Step 4: Ask for funds

Once employment and direct deposit schedules are verified, users can receive cash advances of up to $100 per day for earned but unpaid funds. Upon request, Earnin transfers funds electronically to your bank account within one to two business days – or within minutes for a fee.

Step 5: Repayment of funds

When a customer receives a regular paycheck, Earnin automatically withdraws the borrowed amount from their bank account, plus any fees and tips.

EarnIn app details

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Customers must be U.S. residents, 18 years or older, have a verified bank account and a regular payout date. They must earn at least $320 per pay period.

Deposits and withdrawals

Earnin deposits funds into your bank account on demand and automatically initiates withdrawals when you receive your next paycheck from your employer.

Interest and fees

Earnin does not charge any interest or fees for standard delivery of funds, usually one to two business days. There is also an Instant Delivery option available for a flat fee of $3.99, regardless of the down payment amount. Tipping on every transaction is optional but recommended.

Financing time

The standard financing time is one to two business days. Lightning Speed ​​financing time is within minutes.

Customer reviews

Earnin is rated 4.0 out of 5 stars on TrustPilot based on 95 reviews. The Better Business Bureau rates EarnIn as an “A+” BBB accredited business. However, customers give EarnIn a 2.56-star rating based on 270 reviews, complaining about app issues and poor customer service. EarnIn actively addresses and resolves complaints on both review platforms.

Pros and cons

Benefits of EarnIn

Claim the funds you’ve already earned

Most employer policies require work to be completed, but payment does not occur until two or more weeks later. Earnin estimates how much you’ve earned each day and will distribute funds to you based on your work so far.

Automatic repayment

Because repayment is automatic, users can access their earnings without having to worry about remembering to pay off their debt. This may help prevent some customers from falling into debt.

Seamless integration with your bank account

Earnin establishes a secure connection to customers’ bank accounts via Plaid. This allows for payout verification and smooth transfers between EarnIn and your bank account.

What can be improved with EarnIn

Higher daily cash advance amounts

Earnin $750 The upper billing period cap is higher than many similar services, but its $100 per day limit may not be enough for some customers.

Reduce fees for faster deposits

Competitive applications often use a tiered pricing structure for express deliveries. Earnin’s flat fee model is easier for customers to understand. However, reducing the flat fee would provide greater value to customers, especially for smaller transfers.

Simplify employment verification standards

Earnin has more stringent verification standards than competitors. For example, some users must submit weekly timesheets to verify employment, while others must consent to the app tracking their location data. Some customers may find these requirements excessive or an invasion of privacy.

What does the EarnIn app look like?

Who is EarnIn not suitable for?

When financial emergencies happen, cash advance apps like Earnin can become a habit and most users are better off dipping into their emergency fund. If you’re already struggling with debt or other financial problems, you may find some temporary relief with cash advance apps. But be careful: in the long run, cash advances may increase your misfortunes.

Conclusion

Earnin compares well to other top cash advance apps due to its high advance limit and reasonable fees. It’s better than other apps, including Empower, that require a subscription fee or other high-interest, short-term lending options like credit cards or secured loans. Since cash loans are the core service offered by EarnIn, customers will not have to deal with the constant sales of other financial products.

To qualify for more favorable cash advance terms, customers are subject to tighter income verification checks compared to other apps. Despite its positive features, users should rarely use cash withdrawal apps to avoid addiction.

Frequently asked questions (FAQ)

Can you get a cash advance with EarnIn?

Yes. Eligible users can access up to $100 per day or maximum $750 for the billing period.

What are the requirements to use EarnIn?

Customers must be U.S. residents, 18 years or older, have a U.S. bank account and have a recurring direct deposit of at least $320 per billing period. Social Security or other government direct deposits do not qualify you to use this app.

What are the disadvantages of using EarnIn?

EarnIn limits cash withdrawals to $100 per day, which may not meet the needs of some users. Customers must earn more than $320 per pay period, and EarnIn employs stringent employment verification methods compared to other cash advance apps. Cash advances can also have a detrimental effect on your long-term financial health.

What app can I borrow $100 from?

EarnIn is a cash advance app that lets users borrow $100 a day – but it’s not the only one. Competitors including MoneyLion and Empower offer similar cash advance options at different costs.