EarnIn at a glance
- Loan amounts: Up to $150 per day, up to $1,000 per pay period
- Loan terms: Automatic debit on your payday
- Speed of funding: As soon as minutes after request
- Fees: No mandatory fees; optional faster transfers carry a fee that varies by amount
- Credit requirements: No credit minimum
EarnIn is best for workers with steady paychecks who occasionally need access to their money before payday. EarnIn isn’t a lender and does not offer loans. To use this app to access money, you don’t need to pay mandatory fees or interest — instead, the funds you get are later repaid from your paycheck via direct deposit. That makes it a better solution than payday loans, which often come with high fees.
Pros
- No interest or fees
- No credit check
- Free financial management tools
Cons
- Withdrawal limits
- Eligibility limited to those using direct deposit
- Additional fee for faster transfers
What makes EarnIn stand out?
The EarnIn Cash Out feature allows you to access a portion of your next paycheck early with no credit check, and there are several benefits to this option:
Quick cash access
When you need money to tide you over until payday, EarnIn’s standard transfer option gives you access to cash within one to two business days at no cost. If you need the money faster, you can opt for a Lightning Speed transfer. These transfers go through within minutes, but there is an additional charge.
No mandatory fees or interest charges
Unlike payday loans, which can come with hefty fees, EarnIn doesn’t charge any mandatory fees or interest. When you’re in a financial bind, EarnIn may be a more cost-effective option than a payday loan.
Free financial tools
EarnIn provides customers with free financial tools you can use to improve your finances and build money management skills. You can take advantage of EarnIn’s free credit monitoring to view your credit and use its budget calculators to create a budget and track spending.
Low balance alerts
EarnIn’s Balance Shield feature will alert you if your account falls below a certain balance. This feature can make it easier to keep on top of your finances and avoid getting hit with overdraft fees. Balance Shield can be used with any checking account from any bank, as long as you sign up for Cash Out and turn on the Balance Shield feature.
With Balance Shield Cash Outs, $100 of your pay automatically will be deposited into your checking account to make sure that your balance stays in the green.
Note that if you need the Lightning Speed feature to transfer money with Balance Shield, a higher fee applies.
What are the downsides of EarnIn?
Although EarnIn can be a useful alternative to traditional payday loans, there are some drawbacks:
Eligibility is limited
To qualify for EarnIn’s Cash Out feature, you must have a consistent pay schedule that is paid via direct deposit. You must also have a linked checking account with a supported bank.
EarnIn doesn’t work with all banks. If your bank is on its list of unsupported banks, you won’t be able to use its Cash Out feature.
You sacrifice privacy
The EarnIn app requires you to sacrifice some of your privacy to use its features. EarnIn verifies your earnings through your work-provided email address, adding your work location and GPS position, or Bluetooth detection. When you sign up, EarnIn verifies your earnings based on the direct deposits to your linked bank account.
Not available in Connecticut
Connecticut instituted a new law that changed how the state treated earned wage access products, such as EarnIn’s Cash Out feature. As a result, EarnIn is not available to Connecticut residents.
How to qualify for an EarnIn advance
You can qualify for an advance through EarnIn without a credit check. To get started, follow these steps:
- Download the app: Download the EarnIn app for iOS or Android.
- Verify your employment: Confirm your employer and location with EarnIn. You can confirm employment through your work email address, enabling Bluetooth, or by allowing GPS location sharing.
- Connect your bank account: Link EarnIn to the checking account where you receive direct deposits from your employer.
Once your account is set up and EarnIn verifies your employment and earnings, EarnIn will determine an available advance limit.
Is EarnIn legit and safe?
Yes, EarnIn is a legitimate financial technology company that has been providing earned wage access products to consumers since 2013. Rather than issuing loans, EarnIn allows eligible users to access portions of the wages they’ve already earned before payday.
EarnIn says the app uses bank-level encryption and secure connections, and EarnIn has strong customer service reviews. On Trustpilot, EarnIn has a TrustScore of 4.8 out of 5. That said, it’s important to use EarnIn cautiously. Advances are automatically repaid on payday, so if you aren’t careful, you risk overdrafting your bank account.
Not sure if EarnIn is right for you? Consider these alternatives.
- Dave: With Dave, you may be able to borrow more at once and get it within minutes, but Dave charges a monthly membership fee.
- PayActiv: With PayActiv you can access up to a portion of your paycheck early per pay period, but it’s only available to employees of partner organizations.
FAQs about EarnIn
With EarnIn, you can access up to $150 per day and up to $1,000 per pay period, though how much you can borrow depends on your earnings and direct deposit history.
No, EarnIn doesn’t have any mandatory fees, nor does it charge interest. However, you will need to pay a fee if you want to use the Lightning Speed transfer option to receive money faster. EarnIn also gives users the option of leaving a tip, but tipping is voluntary.
According to EarnIn, tips are completely voluntary. Your service quality and availability aren’t impacted by whether you tip or not. Keep in mind that regular tips add to your cost of using the app much like fees would.
Tipping is not available in Colorado or Wisconsin — customers in those states pay fixed fees for Lightning Speed transfers instead.
¹ Paycheck Advance is an optional service subject to approval and eligibility, and is provided by MVB Bank, Inc., Member FDIC. No interest charged and no required fees. Paycheck Advance is not a loan. Limits range from $20–$500. Advance limits and eligibility are evaluated frequently and may change at any time. You must have an active Credit Karma Checking account that has been open for at least 30 days and receive one Qualified Direct Deposit (QDD) of $200 or more to your Checking or Savings account within the prior 35 days. Standard delivery is free with funding in 1-2 business days, and if you choose expedited delivery, an Instant Access Fee applies and will be shown before you confirm. You must live and remain in a state where Paycheck Advance is available to be eligible, see State Eligibility (https://support.creditkarma.com/s/article/What-is-Paycheck-Advance). Your advance is automatically repaid from any Qualified Direct Deposit. Terms and Conditions apply. Use responsibly.