Earnin.com is a mobile application that enables everyday consumers to receive money in advance of their paycheck.
Taking the path less traveled, Earnin is not like other payday lenders that invoke rates and fees for their cash advances.
Instead consumers have the option to tip for the services rendered to them while borrowers are able to receive up to $500 in advance.
To find out more regarding Earnin we invite you read our unbiased review where we’ll be dissecting the various elements that compose Earnin for you.
What is Earnin?
Earnin is an advance paycheck app that allows people to receive money prior to having their work check deposited.
While competitive payday lenders and online loan matching networks may be able to resolve your financial needs, Earnin does not charge expensive rates like most lenders.
First-time consumers using Earnin are able to request up to $100 in advance.
The maximum amount that can be borrowed through Earnin would be $500.
Who is Behind Earnin?
Activehours, Inc is the overseeing entity behind Earnin.
According to research, Activehours, Inc was founded in 2012 by Ram Palaniappan.
Due to Earnin functioning as a mobile application with minimum consumer interaction, there aren’t many available methods to touch base with Earnin.
To our knowledge, Earnin only offers a contact submission form which can be found on their contact page while the Better Business Bureau reflects the following physical location:
P.O. Box 46, Palo Alto, CA 94302-0046.
How does Earnin Work?
Earnin functions as a mobile application, so in order to request an advance paycheck loan you’ll need to download the app.
For Android phone carriers, you can download the app through the Google Playstore while iOS devices can acquire the app through the App store.
Once a user downloads the application they will need to familiarize themselves with 3 main features known as Automagic Earnings, Timesheets and Lightning Speed.
The Automagic Earnings feature offered by Earnin enables the application to track your timesheets for you.
Essentially all users have to do is input their work address into Earnin while Earnin will do the rest for you.
Whether you are commuting to work or heading inside for work, Earnin tracks timesheets for you.
Consumers who don’t employ the Automagic Earnings feature will have to use a timesheet.
Since the advance paycheck system of Earnin is dependent upon timesheets, if you don’t have an accurate timesheet then Earnin doesn’t know for certain that you may have worked the hours logged.
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Loans up to $1,000
Loans up to $5,000
Loans up to $10,000
Among a few of the professions that the Timesheet feature works with would be:
When I Work
It should be noted that Earnin does not accept Timesheets in the form of Word or Excel documents, nor do they accept printed work schedules or timesheets.
Lightning Speed is perhaps the feature that most consumers concerns themselves with since it involves transferring money into your bank account.
As soon as Earnin has verified your timesheet, they will wire your advance paycheck instantaneously.
Depending upon which bank a consumer has will dictate how long it takes for the funds to hit your account while if you don’t have the Lightning Speed feature then all advances will take an additional business day to process.
Have regular pay schedule (weekly, biweekly, etc)
Fixed work location or online timekeeping system
Must receive direct deposits from employer into checking account
Earnin is not compatible with credit unions, saving accounts or prepaid accounts.
Earnin reflected a 4.5 out of 5 star rating out of 41,753 reviews in the Google Playstore as of November 23rd, 2018.
Out of those reviews, 34,895 gave Earnin a 5 star rating while 3,546 users gave Earnin a 1 star rating.
According to the Better Business Bureau, Earnin has received 85 complaints over the past 3 years while 61 complaints have been closed in the last 12 months.
As of right now, Earnin reflects an A+ BBB rating and nearly a 3 out of 5 star rating.
Below are a few of the most relevant reviews we found pertaining to Earnin:
“I borrowed 500 they were scheduled to take it out on 10/8/18 they took the money out on the 5th and resulted in 3 overdraft fees…I have contacted their customer service and gave all info they requested now they will not respond back to me and made it so I cannot use their service.”
“Really helpful app and great customer service.”
“Great app.. easy to use. Love this concept.”
Is Earnin a Scam?
Earnin reflects an overall positive community atmosphere, is transparent regarding their ownership information and renders a competitive service of value.
With this in mind and given the information shared above we do not believe Earnin to be a scam.
Earnin Review Conclusion
Earnin is a legitimate mobile application that enables consumers to request for a paycheck advance of up to $500 from the convenience and comforts of their home.
Unlike the vast sum of payday lenders or online personal loan outlets, Earnin does not charge any APRs, rates or fees.
If you are satisfied with Earnin and are feeling generous you can tip up to $14, however it is not mandatory.
Whatever the reasons may be, if you need a quick advance to cover your finances until you receive your paycheck then Earnin could be a legitimate lender to you.
Prior to using Earnin we advice that consumers exercise research into relative consumer feedback to verify that the mobile application is still operating up to par.
We invite you to share any feedback, insight or experiences you may have in a comment below!