Need money quick? Get your paycheck anytime with this free app. Do you wish there was a way to have access to your money before payday? Well, now there is. Earnin is an app created by Activehours that pays you for hours worked without any fees. The app has received 4.7 out of 5 stars on iTunes with over 5,000 reviews. This post may contain affiliate links. Please read my disclosure for more information.
What is Earnin
In 2013 ActiveHours was started to provide a more economical alternative to payday loans. Funding for Earnin comes from venture capitalists, and it’s used by big companies such as Bank of America, Uber, Starbucks, Apple, Lowes, Home Depot, Sprint, Pizza Hut, and Walmart to give their employees and contractors an advance on their pay.
Anyone can use the app as long as you have your check direct deposited, you create a profile, and meet specific criteria. Your credit history is not a factor, and you don’t have to give your social security number.
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Features of Earnin
- You pay a tip instead of a fee to use the service.
- A daily withdrawal limit of $100.
- Pay period withdrawal limit varies depending on pay.
- You must have direct deposit.
- Available to hourly and salary employees.
Here’s How Earnin Works
According to their website, you snap a picture of your timesheet, and then just a tap lets you cash out and receive your money through your bank account. You pay what you think is fair and there are no fees or interest.
More than half of U.S. workers live paycheck to paycheck and struggle to make ends meet. For those folks, this app could avoid the high cost of overdraft fees or charges from late payments.Currently, Americans are paying around $32 billion in overdraft or insufficient funds fees, $9 billion on fees associated with payday lending and $6 billion in pawn shops fees.Click To Tweet
Earnin can be a great safety net to use while you’re building an emergency fund and getting a budget in place but don’t rely on it long term. Fees and tips from anything add up over time.
Ready To Try It