Earnin Reviews - What Is It?
WARNING: DO NOT BUY Earnin Until You Read This Review!
Is it a Scam? Does It Really Work?
Earnin is a good alternative to high overdraft fees and expensive payday loans. Companies such as FlexWage and PayActiv offer similar products. A two-week pay cycle is difficult for people who appreciate each penny. If they worked today, they want to have their money today. According to the official website of Earnin, Starbucks, Apple and Instacart store employees are also the users of this app. It can be useful if you have a checking account and are paid by direct deposit if you are an on-demand worker whose paycheck varies, or if you don't wish to overdraw your bank account and pay an overdraft fee ($34). At the same time, Earnin might not be suitable for you if you have many employers or work from home independently, if you are paid by reloadable debit card, if you spend more than you earn on a regular basis.
Earnin is cheaper than a payday loan, but people may get into the habit of spending their wages earlier. The app should not be used as an emergency fund to cover common financial shocks. Saving $500 is a good idea; you will want to create a fund that would cover expenses within three to six months. Maintaining a budget with the money for daily savings and expenses will be helpful too. In general, it is recommended to use the 50/30/20 budget, which includes needs, wants and savings. The app allows people to get paid when they want. They can move money at the touch of a button. If you need help, you can contact the company's support team by emailing firstname.lastname@example.org or in-app. You are expected to get back to your message within a day. Support is available 24/7.
Customer Reviews - Does Earnin Really Work?
There is some important information you should know before getting Earnin. This app will require your checking account information and your geographic location data (if you are a salaried employee). The company uses bank account information in order to send you money, as well as to change its withdrawal limits and promote responsible financial behavior. For instance, it scans your bank transactions to check recurring expenses, including utility bills. The app may limit your withdrawals if a bill is due before your next payday. In this way, it will ensure that you have money to pay that bill. The app cannot track nonrecurring expenses, so you will have to budget for costs. The company stores information in an encrypted form and cannot debit your account for more than you authorize. But think twice before providing sensitive information to an unknown startup. It is interesting to mention that Earnin has an optional overdraft avoidance feature known as Balance Shield. If you wish, the app will send an amount up to $100 to your bank account if your balance gets less than $100. The feature of the app provides a financial cushion if there is some risk that your account may be overdrawn. It is cheaper than paying an overdraft fee. It can be used once at no charge, but repetitive use requires a fee of more than $1.50. About a quarter of users have enabled Balance Shield.
There is a great number of customer reviews about Earnin on third-party websites and most of them have a positive nature. The users highly appreciate the fact that the company's staff are always ready to provide fast results and walk their clients through the necessary steps. They also love the fact that if they need some cash before payday they will be provided with this cash. Some of the unexpected expenses may include medication or something of the kind. Thus, there are all reasons to love this app. One guy writes that he was suspicious when he heard about this company for the first time. It sounded too promising. I was surprised with the fact that if you need extra cash before your check for an emergency you can get it. It is true and this client has never had any problems. He says that he doesn't need their services very frequently but sometimes he needs to use them. Usually he has no concerns. The company is great! Another man reports that he has been an Earnin member for several years already and he appreciates this invaluable service. It has helped him to get through situations when he needed money before payday. The man is also amazed with their customer service. They answer to any requests in a timely manner; even if it is a weekend. Due to his bank, the man has had issues with cashing out. If you are considering this service; be sure that it is a legitimate service with good customer service! The app itself is easy to set up. It keeps your mind relaxed because you know that if you need money midweek and you have earned income you can get your pay without losing money because of fees. You can borrow up to $100. It is really a great idea. Let us take a look at the actual customers' testimonials about Earnin online.
"Earnin is a great app. I really love it due to the fact that I can borrow money any moment. You can easily determine how much of a tip you will need to pay. When there is little money I can only afford five dollars and it's ok. When I have more cash I can give more money to help others. You can get your money very fast and this is the main advantage!"
"Earnin This has been a perfect way for me to get the necessary money when I need it during the month. I have two kids and I suffer from two chronic illnesses, so I need many co-pays for medications and appointments. While I try to find money for these needs, it may not work out well enough, especially when I have unexpected expenses. It is nice to have a cushion that can be used instead of having to borrow money from relatives."
"Earnin is a helpful app for me and I don't regret getting it! It has helped me to cope with rough times between pay periods. I have contacted the company's customer service several times and I have got only positive impressions. Cashing out has always been a real blessing for me! Thank you so much, Earnin!"
My Final Summary
Taking into account everything we have learnt about Earnin this app seems to be worth your attention. It is always to help you in time of need. Probably the only drawback is that you are limited for $100 but it is clear. They want to make sure that they have enough money for everyone who uses this app. The tips you may add are also helpful. The reps of the customer service are always out there to help you. They are ready to help you quickly and resolve any issues you may face. Most customers are pleased with the customer service provided by the company. There are no surprise fees. Tipping for good service can help to revolutionize the world. According to the numerous testimonials from Earnin users, this app has helped many of them when they have been in a tight spot. Some of them even believe that it was sent by God. Taking into account all these advantages I do recommend this service to everyone.
Earnin Pricing and Rates
The company doesn't charge fees. It can be cheaper than taking out a payday loan or overdrawing your account, if you use it sparingly. You can donate a "tip" of any amount. The optional "tip" may reach $14. An annual percentage rate is 260%. Withdrawal limit is from $100 to $500 per pay period.