Get Paid Anyday, is the catchphrase for Earnin, a financial app that will give you a cash advance before your payday. It started up in 2013 under the brand name Active Hours. In early 2018, they rebranded to Earnin.
How does it work?
The most time-consuming part of Earnin is the signup process. It may take 1-2 weeks for them to verify all of your information. Once you’re verified, depending on what company your working for, it’s a breeze to request money. I believe the app calculates earnings by the number of hours you’re worked by the average minimum wage in your area. It is capped off at $100 per day and $500 per week and typically you can get your money on the same day or the next.
What do I like about Earnin?
I have been using Earnin since October 2017 to get an advance on my paychecks. The app is simple and reliable to use. It can use geolocation data from your phone to verify that you’re at your place of work for X number of hours. Then it automatically calculates how much you’re able to request versus the traditional method of taking a picture of your time card every day you want to use it.
What do I dislike about Earnin?
Currently, the only way Earnin gains revenue is through their tipping feature, which allows you to tip between $0 and $14 in $1 increments. If you decide not to tip and continue to use the app, certain features will be limited and they put a lower cap on how much you can request per week.
I’m the type of guy that would use this app every day if I didn’t have to tip. Instead, I would prefer to see a monthly subscription service at around the $24.99 price range The company would get consistent revenue and the users would spend less compared to tipping every time.
Is It For You?
I think everybody who works a 9-to-5 job should be using this app. It feels good to get paid after you have done the work. However, if you’re not good at managing your money, you will run into problems. So, make sure that you do not over-spend. Earnin will automatical withdraw the advance that you placed on your next payday, which will put your account in the red/overdraft if you do not have enough funds.
Check out Earnin!
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