Are there times when you wish you could just get your paycheck faster? Do you hold your breath as you scramble around trying to pull together cash? Are you someone who regularly uses apps? Well, then keep reading because Earnin' might be an app you would use.
What Exactly is Earnin'?
Earnin' is an app that certain companies use to help their employees and contractors get advances on their pay. Several large companies are now using the app. Companies such as Apple, Home Depot, Lowe's, Pizza Hut, Starbucks, Sprint, and Walmart are making the app available to their employees in both Android and iOS.
How Does Earnin' Work?
Basically, all you have to do is snap a picture of your timesheet, then tap your cell phone sending money to your bank account. When prompted by the app, the employee just pays what they believe is fair for the service using something called Balance Shield.
Balance Shield will allow you to set the amount that you believe to be fair. For example, you might set $7 as being a fair rate for cashing out every $100. There are no set fees or interest for using the service.
Earnin' will take about 10 minutes to process your request and will then send you notification that the money is in the account. The system works best with companies using electronic timesheets; however, companies still using paper timesheets can leave on the permissions feature and receive payment as their hours would be also tracked.
Earnin' has a staff available for any questions or problems, which may arise during the hours from 8 am to 8 pm ET. Their headquarters is in Palo Alto, California.
Earnin' will debit your account on payday to take out the amount of early pay you received, plus any amount that you are crediting ActiveHours for their services.
Once you begin using the service, you will be allowed a daily cash out of up to $100. However, as time goes on and you have continued to use the service, you may cash out up to $500 a day. Of course, you will need the salary and hours to justify the amount.
What Are the Benefits of Using Earnin'?
Well, obviously the main benefit of using Earnin' is to get a portion of your paycheck before payday. The money could come in handy for an emergency, or to pay an unexpected bill.
Other than that, there are no fees or interest involved in using the service. This is a huge advantage when you consider the costs and fees of using some of those other check cashing services, which may charge up to six different fees. You only need to set what you believe to be a fair price, and that is the only fee.
What Do Others Say About the Earnin' App?
Google Play gave Earnin' a 4.1 out of 5 rating with iTunes giving it a 4.3 out of 5 rating. You can certainly read any of these for yourselves. Many of the app users state how much they enjoy using ActiveHours and how “human” the company is.
How Do Interested Individuals Sign Up For Earnin'?
First, interested individuals should go ahead and check with their employer to make sure the app is available to them in their current employment status. Then if the app is available, the employee can go ahead and create an account with Earnin'.