Earnin App Review: Get Paid Daily For Free Every Day

Earnin App Review: Get Paid Daily For Free Every Day

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Earnin is an app that allows you to get paid daily. Have you ever wondered why you don’t get paid daily when you work every day? Why do you only get paid every 2 weeks? If you work a day, your employer should you for that day’s work. Right? You shouldn’t have to wait two weeks to see the money that you’ve earned. Yet that’s how payment works in the US. Fortunately, with this Earnin review, you’ll see that you can fix that.

The Earnin App
The Earnin App

 You can download the Earnin app by clicking on your mobile icon. 


What Is Earnin? Can You Really Get Paid Each Day?

Earnin [ ios version | Android version ] is an app that allows you to get paid early, every single day. Earnin was started in 2013 initially as ActiveHours, but rebranded to Earnin. Ram Palaniappan started the company when he realized people needed their money before payday. The company has received funding from Andreessen Horowitz in its most recent round of venture capital (VC) fundraising. Andreessen Horowitz is one of the biggest VC names out there. Earnin has been mentioned on TechCrunch, Buzzfeed, Business Insider, etc.

Publications Featuring Earnin
Publications Featuring Earnin

Both the Apple store and Google Play Store rate Earnin a 4+ with thousands of reviews. Earnin also has an A+ rating on the Better Business Bureau (BBB).

Quick run-down on Earnin:

  • Get paid daily up to $100 each day
  • No fees or interest – The company does ask for “tips”, but I’ve emailed them and they say it is not a requirement, so it’s free to use the system!
  • If you get paid more than $100 each day, you can request an increase in the daily limit up to $500
  • The company takes the amount they paid you from your next biweekly paycheck.
The 3 Principles of Earnin
The 3 Principles of Earnin

There are currently two other companies (FlexWage and PayActive) that offer a similar service, but Earnin has the best interface and rates (ahem, free).

Earnin [ ios version | Android version ] can be seen as a better short-term alternative to payday loans, since with Earnin you’re borrowing against yourself and can do so for free for 0 percent interest. the average payday loan borrower borrows ~$400 eight times a year and pays over $500 in interest. The payday loan companies call this “churn”, because you fail to pay the loan back and roll it over to the next time.

Earnin watches out for your recurring bills — rent, utilities, tuition, etc to make sure you have enough left in your account when that time comes every month.

Is Earnin Secure? How Do I Trust Earnin?

Earnin [ ios version | Android version ] uses the same bank-level security as bank apps such as Personal Capital and cashback apps like Dosh, Ibotta, etc.

Some companies use Earnin as a benefit and others market it to their employees. You can bet these companies have vetted Earnin security-wise.

Here Are Just Some Employees That Use Earnin
Here Are Just Some Employees That Use Earnin

How To Set Up Your Earnin Account

Download the Earnin app through these links on your phone: Earnin [ ios version | Android version ]


Set up your profile so Earnin knows how much it can give you per day. Once you sign up with your inital details, it’ll take 2 days for Earnin to verify your information.

Get Paid With Earnin Every Day
Get Paid With Earnin Every Day

Earnin asks about your work so that they can know to send you your paycheck early when you request it and verify you’re working the hours and job you say you are.

Earnin SignUp Page
Earnin SignUp Page

It will ask you for the bank your direct deposit goes into so they can send money when you request it. You’ll get two test deposits of under $1 and you’ll need to tell Earnin what they were in order to verify your acocunt.

Earnin Bank Deposit Page
Earnin Bank Deposit Page

How Does Earnin Know You’re Working?

  • Salaried workers: The App tracks if you’re going to work each day via the AutoMagic feature.
  • Hourly Workers: You can scan your timesheet so Earnin knows how much cash you can take out. They do not accept Excel, printed, or PDF time sheets.
  • Freelancers/Gig Economy: You can scan your earnings into the app (Uber, Lyft, Postmates, etc).

Here are the gig economy businesses that Earnin automatically tracks:

  • Brink
  • Deputy
  • Nimble Schedule
  • Tsheets
  • UAttend
  • Uber drivers
  • WebPunchClock
  • When I Work

Request Your Money

It takes about 10 minutes for a payout withdrawal to go through.

You can get your money immediately for certain large financial institutions or if you use the free Lightning Speed feature. There are two banks the Lightning feature does not cover: Woodforest Bank & Fidelity Investments.

If not, Earnin will give you your money the next business day if you’ve requested the money on a weekday, or in two days if you request it on a weekday.

Earnin Lightning Speed Tranafer
Earnin Lightning Speed Tranafer

At this point you can pay a tip, which can be $0.

Earnin Pay What You Think Is Fair Tip
Earnin Pay What You Think Is Fair Tip

Why Would You Use Earnin?

Earnin [ ios version | Android version ] is a great app for those who want to access their money early and get paid daily. Here are some reasons why.

Student Loans And Mortgage Debt

The other day on Twitter, someone said that a friend of theirs pays $35 a day in interest on their student loans. That’s insane. Being able to cash out your paycheck everyday allows you to pay down your student loan debt early and save a ton on interest. It may not seem like a lot now, but it’s going to add up to thousands of dollars over the course of time.

The same thing goes for your mortgage. Paying it down every day allows you to save a ton in interest. Paying down your mortgage early will save you tens of thousands of dollars over the course of time.

Emergency Cash And Avoiding Overdraft Fees

For a lot of America who has to deal with overdraft fees, you can use this to get cash for emergencies. Instead of waiting for your biweekly paycheck to go through, you can get paid daily. Instead of borrowing money from payday loans, just get the money you deserve early.

A really interesting feature of Earnin is that it monitors your bill paying and makes sure you’re not withdrawing too much from your paycheck, so that you can pay all the bills you need to.

One should not rely on this forever though — I’d recommend Earnin as something you can use until you get an emergency fund set up and back on your feet.

An emergency fund is useful because you’ll be able to dip into it whenever there is an unexpected expense and you won’t have to deal with inflated credit card interest or overdraft fees.

Open one with CIT Bank at the highest savings account interest rates at 1.85 percent. Don’t let other banks pay you pennies of interest per year. CIT Bank offers 15x the interest rate as the national average. Get paid 15x what other banks pay. The minimum to open is just $100 and there are no fees associated with the account.

You should start with a $1,000 emergency fund and then work to cover 3-6 months of expenses.

Avoiding Overdrafts For Earnin
Avoiding Overdrafts For Earnin

Special Features – Balance Shield

Earnin [ ios version | Android version ] offers Balance shield, which sends $100 to your bank account each time your account dips under that amount. The first time you use this it’s free, but each time onward is $1.5. I would try not to use this because $1.5 is still a fee at the end of the day. If you’re consistently overdrafting your account though, it might be a good idea to turn this feature on and start tracking your money better so you’re not dealing with overdraft fees. Earnin says a quarter of users have enabled Balance Shield.

To track your money for free, I’d recommend checking out Personal Capital. For staying on top of your credit score I’d recommend Credit Sesame (they also give you $50,000 of fraud protection!). Both are free!

Banks make $30 Billion per year in overdraft fees. Balance Shield helps you steer clear of that.

Investing Earlier – Time In The Market Beats Timing The Market

If you’re investing, you always want your money to be put to work the soonest. Time in the market beats timing the market! The returns will be averaged over the course of 2 weeks instead of being reliant on the last day of the 2 week period.

The last reason is just the sheer principle of it. Why should your company hold on to money that is yours? Why shouldn’t you get paid daily? It’s not like the technology isn’t there (it is!). Just because your company’s payroll hasn’t caught up to 2018 doesn’t mean you shouldn’t.

How Does Earnin Make Money?

TheEarnin [ ios version | Android version ] app is free to use, with no fees and interest. I’m always skeptical of business that are “free”. Remember, when a company is offering things for free, either you’re the product or they are somehow making money off you in voluntary fashion.

I can see how Earnin makes money with this app though. The average person who uses Earnin wouldn’t do a calculation for how much interest they’d pay if they left a tip. So I did the math for you below. You wouldn’t believe how much a $1 tip equates to in interest rates!

Let’s say you tip $1 on the first day of your pay period each time. We’re assuming you’re taking the $100 each time at the end of the day, because they will only pay you after you’re done working for the day. The app is not lending you money you haven’t earned yet, it’s just allowing you early access to it. You’re essentially voluntarily paying a 2.3 percent interest rate IF you tip this way. What if you tipped the day prior to getting your paycheck each time? That’s a 262 percent interest rate. No, that is not a typo, that’s 262 percent.

What if you tipped $1 every day? That’s a 363 percent interest rate. Here’s a chart to explain it better. It assumes you’re taking out $100 each day with the tip being $1 if you choose to do so.


Earnin Tipping Intereest Rate Calculation
Earnin Tipping Intereest Rate Calculation


Now, are some people going to tip them $1 or more every time? Probably. Are some people who read this exact blog post with all the warnings above going to forget all about this chart and still tip them each time/once? I would not be surprised. America has a very ingrained tipping policy. Plus, humans have a fickle memory and as a society that doesn’t talk about money, the above chart might not mean all that much. But that’s how they’ll make their money.

But good thing you read this blog and have me to calculate the annual interest you’d pay if you did that! So, before you tip, know that you can just not tip and still use the service for free. Download the app by clicking on the buttons below, and get your money daily instead of biweekly now :).


Start An Emergency Fund & Cut Out Expenses

If you’re short on cash in between paychecks, you really need to consider starting an emergency fund. What happens if you lose your job one day or need to take an extended time away from work? Earnin won’t be able to help them because it only pays you your wages early.

Start an emergency fund by cutting your expenses and figuring out extra ways to make money:

Author: Olivia

Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.

The average savings account rate is 0.1%. The big banks have incredibly low savings accounts rates. CIT Bank offers a 1.75% savings account. You can open an account with just $100 and no monthly fees or charge . Tired of being charged fees and getting peanuts in interest at your current bank? Open a CIT Bank savings account in less than 15 minutes online.

If you have a car, Rideshare apps allow you to pick a direction you want to go twice a day, so you can get extra money going somewhere you were driving to anyway at least twice a day. Get a $300 sign-up bonus with Lyft.

One of my favorite ways ways of monetizing my life is via credit card bonuses with cards that give you cashback or rewards. Check out our review of the Chase Sapphire cards, which give you at least $500 in cash or $625 in travel credit.

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