How Does Earnin Work? A Quick Look into Its Cash Advance System

It’s tough making it to the next paycheck at the moment. If you’re struggling with the whole money thing, you’re not alone. A record-breaking 64% of Americans are also living paycheck to paycheck. 

When you’re in a tight spot with money, you’re even more vulnerable to sneaky overdraft fees and predatory payday loans. (Some are really out here charging 600% interest) 💀

If you do need a little help tiding you over until the end of the month, an interest-free cash advance can be a safer alternative. Earnin Cash Advance. But how does Earnin work?

So, how exactly does Earnin work?

Earnin is a money app with a cash advance feature. And Earnin cash advance is calculated against your credit card limit or income.

You can initially get $100 from Earnin, and this goes up to $500 over time. ‍

You then repay this on your next payday. 

Here’s the part that’s unique to Earnin: the app has a unique money lending system. It tracks the number of hours you have worked and allows you to access money according to your earnings.

So, how does Earnin work in terms of employment verification? To access the money, you connect your bank account, then you have to verify your employment info.

Earnin states that there are three possible ways to do this:

1. An electronic or printed timesheet

2. Your employer-provided work email address

3. Automatically via the Automagic Earnings (GPS) feature if you work from a fixed work location

If you’re approved:

⏱️ The money takes 1-2 business days to arrive

💲 Earnin uses a voluntary tip model, so there are no fees

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Big love. Cleo 🤎

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