Mobile Banking

Earnin Review: How It Helps Improve The Financial Lives Of Americans

This Earnin app review provides essential information on how it works on improving the financial lives of American people who are living paycheck to paycheck.

Earnin Review: How It Helps Improve The Financial Lives Of Americans

The United States is a first-world country. Thus, it is not surprising that the country’s financial system is the largest in the world.

However, just when a lot of people thought it’s flawless, there is actually one very apparent complaint about the financial system of the country – that is, it is unfair.

Unfortunately, people who are earning lower and unstable incomes usually end up paying the most for a lot of financial services.

As you know, most banking institutions charge fees such as monthly maintenance fees, overdraft fees, high-interest debt, ATM fees, and a lot more. When all of these are combined, it could really hit hard among American consumers. It could cause them to struggle financially. These fees affect consumers a lot.

According to the FDIC Survey of Household Use of Banking and Financial Services report in 2019, nearly 95% of American households are banked, and a portion of them suffer from bank fees because of not being able to meet the requirements set to be able to avail the institutions’ fee-free features.

For some, bank fees may be little, but for the underprivileged, that is a big money loss. No wonder why a lot of people rely on loans.

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A report published by CNBC says that currently, there are 12 million Americans who use payday loans annually. Meanwhile, according to the Economic Research of the Federal Reserve Bank of St. Louis, in 2017 alone, there were 14,348 payday loan storefronts in the United States.

By the way, a payday loan is “a type of alternative financial service that provides fast cash to cover emergency situations or help pay a borrower’s expenses from one paycheck to the next.”

It is nice knowing that there are financial institutions that are working on addressing the needs of the less privileged, helping them make ends meet.

Disruptive companies such as Earnin are working on improving the financial lives of those who are living from paycheck to paycheck by allowing them to get an advance of up to $100, but unlike usual payday loan storefronts, this one’s easily accessible online.

In this Earnin review, you will find out more about how this paycheck advance app is a good alternative especially for those who are struggling to make ends meet or those who need emergency funds before payday comes.

In the next few sections, we are going to particularly tackle the following:

  • What is Earnin app?
  • Who is Earnin app best for?
  • How does Earnin app work?
  • How to setup an Earnin app account?
  • Is Earnin app safe?
  • What to like about the Earnin app?
  • What not to like about the Earnin app?


Before we even talk about the technicalities of the Earnin app, we are going to share with you some pieces of important information about this paycheck advance app first.

It is important to look into what the company is about to have a better understanding of what service it provides, as well as how it could be beneficial for you.

As mentioned earlier, Earnin app aims to help those who are living on a paycheck to paycheck basis by providing an online platform that allows workers to get an advance of up to $100, which is sent directly to their bank account. Unlike banks that charge a fee for certain transactions, Earnin earns through optional tips given by users.

Earnin was built in the hope of providing a “financial system for the people by the people.”

Since it is app-based, Earnin is available for people across the United States.

According to the company, the Earnin app has already had over 10 million downloads and has 2 million active users to date.

Furthermore, the company is proud to report that in just a few years since its existence it already impacted a lot of lives.

In fact, according to the Internal Earnin analysis, as of January 2021, 49% can now cover an emergency of $400 since using the Earnin app, 73% can budget better, and 66% can now pay bills — all through the help of the Earnin app.

Know more about the Earnin app in the video below by Gig Nation. They provide a very insightful review with lots of important information you need to know.


In the previous section, we talked about what Earnin is all about.

On this part of our Earnin review, we are going to share with you who would benefit from it the most.

As mentioned, Earnin is an app that allows workers to get an advance of up to $100, making it an ideal online platform for those who need emergency money.

The Earnin app is ideal for those who occasionally need a small amount of money before the next paycheck.

Of course, you need to meet the company’s eligibility requirement to be able to use the app’s features.

Earnin is ideal for those who are hourly or salaried employees using electronic timesheets at work.

Furthermore, Earnin is also ideal for those who have a checking account and are being paid through direct deposit.

Also, this app is a good choice for those who do not want to overdraw their bank accounts and pay for an overdraft fee, which usually costs $35.

Meanwhile, the Earnin app is not for you if you have a habit of spending more than what you earn, work independently or have multiple employers/clients, as well as if you are being paid by a reloadable debit card.


Now that you already know what Earnin app is, and who would benefit from it the most, this time, we are going to tackle how it actually works.

As mentioned, the Earnin app allows workers to get an advance of up to $100, and have it directly deposited to their bank accounts.

Unlike a typical bank or other financial service providers (such as lending companies), Earnin does not charge a fee. Instead, the company relies on tips given by its users. However, it is optional, thus, allowing users to tip $0 if they really need the money up to the last cent.

If you think Earnin is handing out free money, you’re wrong. The company knows they are going to be repaid as it only advances money when the user has already earned it.

Earnin app takes a cut of the user’s future check as soon as it is directly deposited to his or her checking account.

As mentioned, you have to be eligible to be able to use and enjoy the features of the Earnin app. The requirements include:

  • Must be paid through direct deposit
  • For hourly workers, the Earnin app must be connected to their company’s online timesheet (otherwise, upload photos of their daily timesheet)
  • Salaried workers, they must allow the app to track their location. This helps confirm that they have gone to work.
  • For gig economy workers, they must upload receipts or trip information to the Earnin app for early payouts.

Furthermore, the Earnin app also offers a Balance Shield option, which is specifically designed to automatically transfer money once your checking account balance reaches a certain balance.

It is important to take note, though, that that the Balance Shield is only free for the first time of using it. After that, the Earnin app charges $1.50 per transfer, which is quite a manageable fee.


In this part of our Earnin review, we are going to talk about how to actually set up an account.

The Earnin app is available for both Android and iOS devices.

To start setting up an account, you have to download the app first. Then, follow the prompts to complete the whole signing-up process.

The Earnin app will be asking you to provide information such as your email address, preferred password, paycheck information, bank name, bank account information, and employer information.

By the way, it may take 48 to 72 hours for your Earnin account to be fully set up before you can start requesting funds.

Amount That Can Be Borrowed

Earnin allows you to borrow up to $1,000 if you are under Earnin Express. However, for newbies, the app allows up to $100 on your pay cycle.

Depending on how often you use the app, Earnin may allow you to borrow up to $500, or get an invitation to sign up for Earnin Express.

By the way, Earnin Express is an exclusive feature that allows members to cash out up to $1,000 or 80% of the amount of the paycheck you direct to Earnin. This, however, requires the user to set up and route his or her paycheck to an Earnin Express virtual bank account (through Earnin’s bank partner, Evolve Bank & Trust).

The maximum amount a user can borrow is dynamic and re-evaluated each pay period. To be eligible for better and exclusive features, you must have good spending habits and a positive bank account balance.

Fees and Rates

Earnin app does not charge fees or interests.

As mentioned, the company earns through tips given by users. Users can donate any amount for up to $14, or if the budget is tight, the app does not mind a $0 tip. Earnin deducts the tip from your paycheck on your payday along with the money you’ve withdrawn.

If you come to think of it, Earnin is really doing a big favor to users who are mostly struggling financially.

Once you are done with the signing up process, you can now access the money once you’ve earned it, of course.

It is important to note that whenever you request money, Earnin verifies your hours worked, which does not take that long. The company says it usually takes about 10 minutes to finish provided you submit through the app.

The disbursement of the money requested is on the next business day. There is a possibility to get the money sooner, but that depends on your bank if it supports it.

Earnin users must take note that the app only allows two withdrawals. The limit is $100 for all users on a daily basis. Meanwhile, the total amount you can withdraw during your pay period will depend on how much you’ve earned, any bills due, as well as your financial behavior.


Earnin provides cash advances for workers who need emergency funding. Unlike personal loans or other types of loans, Earnin is considered a short-term loan since it automatically deducts the amount borrowed once the paycheck is deposited to the user’s checking account.

Generally speaking, Earnin is safe. With millions of active users to date, it should be safe. Also, since it requires you to provide personal information, all the more that the app works on providing a safe and secure mobile platform.


Now that we’ve already covered the most important things that you need to know about the Earnin app, it’s time to give you a summary of the features we like about this online paycheck advance application.

So, what really caught our attention about the app are as follows:

  • No Mandatory Fees – What makes this company disruptive apart from the fact that it provides advance payments to people who are living on a paycheck to paycheck basis, Earnin users also get to enjoy fee-free transactions. Fees are very common among banks and lending institutions, which is why it’s so refreshing to know that the company does not charge any.
  • Tips Are Optional – Technically, Earnin earns from tips given by its customers. However, even tips are also optional. In case you badly need all the money up to the last cent, Earnin does not mind getting a $0 tip from its customers.
  • No Interest Rate – Unlike typical payday loan providers or banks or other lending companies, Earnin does not charge any interest when you borrow money from them, which enables borrowers to save a lot of money from fees and interests.
  • Fast Funding – Earnin provides funding as soon as within the day of request provided your bank supports it. But generally, the funding is received the next business day, which is still fast enough as compared to other lending institutions.
  • Balance Shield – With the Earnin Balance Shield feature, you are alerted every time your checking account balance reaches low. Earnin provides an optional Cash Out up to $100 directed to the low account. While the Balance Shield is free, there is a minimum tip required of $1.50 to keep the Cash Out feature once enabled.
  • Offers Cashback Rewards – With Earnin app, you can enroll your credit or debit card under its Cash Back Rewards program. This allows you to earn between 1% and 10% cashback in particular stores and restaurants. Earnin app is compatible MasterCard, Visa, and American Express.
  • No Credit Check Required – Earnin does not check your credit score and credit history, which makes it even more ideal for anyone even those with not-so-good credit scores.


While the Earnin app does have its share of highs, it also has some flaws. Although, we thought these can be adjusted or can be worked on so the company could provide better services to the people.

Some of the things to not like about the Earnin app include:

  • Requires A Checking Account – For you to be eligible to use the features provided by Earnin app, the company requires you to have a checking account where you receive your earning or salary.
  • Eligibility Depends on How You’re Paid and the Kind of Job You Have – Earnin requires you to have a checking account where you get paid. Also, you have to fall under their three employment type to be eligible to borrow from Earnin. You must either be a salaried worker, an hourly worker, or an on-demand worker.
  • Privacy Concerns – Once you sign up for the Earnin app, you are required to share your bank details, as well as your paycheck information. Although it gives you access to take advantage of features provided by the app, this may pose some privacy concerns.
  • Low Maximum Loan Limits – When you are new to the app, you can only borrow up to $100. However, depending on your situation, paycheck, and spending habits, there is a chance you could borrow up to $1,000.
  • May Encourage Poor Financial Habits – The Earnin app is a great app for emergency financial needs. To be honest, it’s too tempting given the fact that it does not charge fees and interests. Unless you are able to contain yourself, there could be a chance you’ll end up overusing it, which in turn could lead to poor financial habits.


Earnin app is a disruptive company that helps improve the financial lives of those who are underprivileged, particularly those living on a paycheck to paycheck basis.

It is a great alternative for payday loans especially since it is easily accessible through its mobile app, it does not do credit checks, the funds are made available as soon as within the day of request, as well as the fact that Earnin specifically caters to workers who are either salaried, hourly, or on-demand.

With so many people struggling to make ends meet, Earnin is definitely an app to beat, right?

With this Earnin review, we hope you are able to know a lot about Earnin, what it has to offer, and how it could potentially help address the financial system concerns of the people.

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