Frequently asked questions

What is Cash Out?

Quick ExplainerAny employee with a bank account that receives their paycheck via direct deposit can use Earnin. Cash Out is a tool for people to access their wages once they have earned them, rather than waiting 2-4 weeks for their employer to issue their paycheck¹. Users can access up to $100 of their accrued earnings per day or up to $500 of their accrued earnings per pay period.Step-by-Step ExplainerAnyone with a job and a bank account that receives their paycheck via direct deposit can use Earnin to access wages they’ve earned. Earnin’s flagship product, Cash Out, gives workers access to wages they’ve earned, without any hidden fees. Cash Out is not a loan, and there is no APR.First, users download the Earnin app, set up an Earnin account, enter information about their employer and place of employment and connect Earnin with their bank account. This information is secure and encrypted—it will never be sold.Then a user can Cash Out earned wages for work they have completed. Earnin immediately² sends the Cash Out amount to the user’s bank account and on the user’s next payday will debit that same bank account for the user’s Cash Out.The majority of Cash Out users, 68%, are between 25-44 years old, and 77% make less than $75,000 per year.³People utilize Cash Out primarily to cover the basics like buying food, gas, and utility bills.⁴ 1Restrictions and/or third party fees may apply, see earnin.com/tos for more details. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection.2Fees may apply to use Lightning Speed. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.3Earnin Survey of Users conducted from December 10, 2020 to January 1, 2021. Total respondents 1,122.4Earnin Survey of Users conducted from December 10, 2020 to January 1, 2021. Total respondents 1,122.

How do you estimate people’s earnings?

EarnIn works with the individual consumer to validate their employment and work attendance through multiple, highly accurate methods such as work-email verification, timesheets, wage stubs, and GPS location services with the employee’s explicit permission.

How do you calculate Maxes?

Users have a Daily Max and a Pay Period Max. All users have up to $100 Daily Max, which is the amount they can Cash Out per day.

What are “max boosts”?

Max boosts are another way for Earnin users to help each other. A max boost gives users the opportunity to withdraw an additional amount of their available earned wages for a pay period.

Can I trust EarnIn to keep my information private?

We pride ourselves on the security and safety of our customers’ data and sensitive information. We never have, and never will, sell customer data.

Am I able to reschedule my repayments?

Yes, EarnIn will attempt to reschedule your debit date as long as you notify our 24/7 customer support team of your request at least two business days before your scheduled debit date.

What is Earned Wage Access?

Earned Wage Access (EWA) is a way for people to access their wages once they’ve earned them, rather than waiting for their employer to pay them 2 to 4 weeks later. EWA is not a loan.EWA providers do not charge customers mandatory fees to access their own earnings.¹ EWA providers, unlike payday lenders, have no legal right to demand repayment, which means no debt collectors, no reporting to credit agencies, and no fines. There are two basic EWA Models: direct-to-consumer (D2C) and business-to-business (B2B). While they provide effectively the same service, there are some key differences for consumers. - Employer-Integrated (B2B) – The Earned Wage Access (EWA) provider integrates directly with an employer’s payroll system.This usually requires the EWA provider to work with an employer’s IT department before an employee can use the service.It can be expensive, and typically a B2B EWA provider will negotiate with the payroll provider on fees that are then passed on to workers. Typically this is a monthly, gym membership-style fee. This leaves many small businesses—and their workers—behind.This gives more control to employers and allows big payroll providers to function as a gatekeeper—controlling the access, price, and frequency with which an employee can use the product. - Direct to Consumer (D2C) - Earnin is a D2C EWA provider that connects directly with workers and offers a portable tool to everyday working people. We do not require employer integration with our service, which puts workers in control. Key benefits of this model are:Portability – No matter where someone works, or how many jobs they have, they can take this tool with them. The Earned Wage Access provider is not linked to any employer’s payroll system—instead, the provider has its own time and attendance system.Control – Because we work directly with consumers, workers—not employers and payroll companies—are in control of when they access their earnings.Access – Because workers are not dependent on their employer’s IT department, it doesn’t matter where they work. They could work at a global company, a small business, a school, or a government agency, or they could have two jobs. A D2C provider like Earnin provides more workers more access to their wages as soon as they earn them. ¹ Earnin does not charge hidden fees for use of its services. Restrictions and/or third party fees may apply. For more info visit earnin.com/TOS.

Why are you introducing a fee for Lightning Speed transfers now, when they have always been a free part of Cash Out?

Since we started Cash Out, we have kept the service free so that our community members have access to funds they need for expenses, without interest, credit checks, or hidden fees. The lightning speed fee we are rolling out now helps ensure we can continue to offer Lightning Speed transfers as quickly as you need them and at the lowest cost possible, and for more of the community, as we continue to grow

Is there still a free option for accessing wages early via Cash Out?

Yes. We will always have a free option for Cash Outs with ACH, with a transfer period of 1-3 business days.

How does the fee you are introducing compare to similar apps/companies who charge for immediate access to funds?

We are cheaper and more affordable for two reasons. First, we cover the fee of your first lightning speed cash-out. Second, our fee tops out at $3.99 for a $100 cash-out, while many of the other popular products charge as much as $7.99 per cash-out.

Why is the Lightning Speed option not always instant? Why did it take 30 minutes or more for the transfer to complete?

In almost all of the cases, Lightning Speed transfers happen within seconds! Occasionally if there are issues on the network that we and other companies that offer this service use, it may delay the speed of the transfer. If you were counting on the transfer to happen more quickly than it did, please reach out to our support agents via the in app chat to share your feedback.

How does EarnIn make money?

We set out to build a service that is based on earning people’s trust and their payment, instead of punishing them for financial decisions that are often outside of their control.EarnIn believes empowering people financially starts with eliminating costly barriers to financial tools that help them make good decisions and make ends meet. For those reasons, EarnIn does not charge any mandatory fees.¹ We don’t charge mandatory fees because we give consumers the freedom to choose what they think is fair—and within their budget.¹ We believe this consumer-first model promotes community, builds trust, and increases financial security. ¹ EarnIn does not charge hidden fees for use of its services. Restrictions and/or third party fees may apply. For more info visit earnin.com/TOS.

What is the average tip?

The average tip is less than the cost of an out-of-network ATM fee. When compared to the average $35 overdraft fee or fees associated with a payday loan, which are often the alternatives for our users, the average tip is much lower.

Are tips part of an APR calculation?

The CA Department of Financial Protection and Innovation (DFPI) has recognized that voluntary gratuities are not finance charges under TILA and excluded from APR. https://dfpi.ca.gov/enf-a/activehours-inc/

What happens when I tip?

When community members tip EarnIn, their tip goes toward EarnIn being able to offer its suite of products for those who cannot afford to tip at this time (or ever).

How do tips work?

Users can tip $0 or tip what they want. Tips cannot exceed $14 on a $100 Cashout, the maximum daily transaction amount.¹ 1. Fees may apply to use Lightning Speed. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

What is EarnIn?

EarnIn was founded to empower consumers and provide them the tools they need to work towards financial stability. Our services are designed to free people from their employers’ payment cycles and provide an alternative to predatory payday lenders for our 1.3 million active users⁴. This consumer-first approach aims to remove barriers and eliminate the pitfalls and scams that lock people into a cycle of debt and fees.EarnIn was founded in 2014 by entrepreneur Ram Palaniappan. While leading another company, Ram was approached by an employee who was hoping to access their wages a few days before Human Resources was scheduled to do payroll.Ram was happy to help this employee on a one-off basis but realized the problem was much greater than one individual with cash flow problems.Word spread, and multiple employees came to Ram asking for similar help with earned wage access, evidence of clear demand.Late bill fees, overdraft fees, high credit card fees, and expensive payday loans are problems that many working people face: Americans paid $11 billion in overdraft fees in 2019.¹EarnIn started as a solution to that problem. Our products are focused on enabling people to access and save the money they’ve already earned, in a way that empowers them, not their bosses.Today, EarnIn is accredited by the Better Business Bureau and has an “A” rating². We offer an ecosystem of products that help workers, especially those living paycheck-to-paycheck:Cash Out, our flagship Earned Wage Access productEarnIn ExpressBalance Shield, alerting users to low balance in their accountFinancial Calendar, an easy way to see your EarnIn transactionsTip Yourself³, a microsaving tool 1Center for Responsible Lending Report on Overdraft Fees June 2020 accessible at: https://www.responsiblelending.org/sites/default/files/nodes/files/research-publication/crl-overdraft-covid19-jun2019.pdf2As of March 2021, see Better Business Bureau site for most up to date information3Funds are held with Evolve Bank & Trust, Member FDIC and are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Other restrictions and/or third party fees may apply. For more information/details visit earnin.com/tos4Internal analysis conducted by EarnIn in January 2021, represents total users who Cashed Out at least once from January 1 to December 31, 2020

How many users do you have? ¹

EarnIn has more than 1.3 million active² users who rely on Cash Out as their EWA financial tool, to help them overcome financial barriers and avoid pitfalls and scams that lock people into a cycle of debt and fees.It works: 67% of our users report a drop in overdrafts, saving $58 / month on average on overdraft fees and $75 / month on average on payday loans Source: EarnIn Survey Dec 10 2020 - Jan 1, 2021: 1122 Responses66% report an increase in their ability to pay bills on time Source: EarnIn Survey Dec 10 2020 - Jan 1, 2021: 1122 Responses ¹EarnIn Survey Dec 10 2020 - Jan 1, 2021: 1122 Responses ²Internal analysis conducted by EarnIn in January 2021, represents total users who Cashed Out at least once from January 1 to December 31, 2020.

How does EarnIn help people?

EarnIn is a financial lifeline that works. A recent survey of EarnIn users found 66% were better able to pay bills on time.67% of our users report a drop in overdrafts, saving up to $58 per month on average on overdraft fees or up to $75 per month on average on payday loansEarnIn users reported the top uses for accessing earnings early were to help: pay for gas, groceries,rent, and utility bills, avoid overdrafts, and deal with financial emergencies.¹ ¹Ibid

Is the Cash Out Product a loan?

EarnIn is not a lender, and our Cash Out services is not a loan. Unlike payday lenders, we do not charge interest or any mandatory fees to use Cash Out—users only pay what they choose to with tips.¹ And we do not have a legal right to demand repayment from our users (Cash Out is non-recourse), which means we don’t send users to debt collectors, or report them to credit agencies. ¹ EarnIn does not charge hidden fees for use of its services. Restrictions and/or third party fees may apply. For more info visit earnin.com/TOS.

How do the tips work?

Earnin community members control the cost of the products by voluntarily paying what they think is fair for the platform’s services. Tips are voluntary; there are no mandatory fees and you will never be refused service if you don’t tip. The average tip is less than the average out-of-network ATM fee. At the end of a Cash Out transaction, community members are given the option to tip. Tipping does not affect a member’s pay period maximum, and tips cannot exceed $14 on a $100 Cash Out, the maximum daily transaction amount.