EarnIn App Review
 | Interest rate None | Loan amounts $100 per day |
While the paycheck advance app may be a safer alternative to the sky-high interest rates and fees of payday loans, this approach to borrowing should be limited to emergencies.
is a paycheck advance app that allows you to borrow with no interest or required fees. Paycheck advance apps allow you to connect an app to your bank account in order to receive money you’ve “already earned” to avoid overdrawing. Then, when your paycheck is deposited in your account, deducts the amount it sent you. While you won’t have to worry about paying interest or required fees, does accept voluntary tips.
- Quick funding: If you sign up for
pros and cons
Despite offering benefits such as no fees and no interest, still has a few downsides to consider.
Pros
- Doesn’t charge any interest
- No mandatory fees
- Quick funding timeline (up to three business days)
Cons
- Requires sharing bank account information
- Can only borrow up to $1,000 in one pay period
- May result in poor financial habits
Unlike other forms of credit,
requirements
The app doesn’t have many eligibility requirements. Here’s what you need to know:
| Credit check | None |
| Minimum age | 18 |
| Minimum income | $320 per pay period |
| Bank account | Verifiable checking account that you use to get paid via direct deposit |
| Regular pay schedule | Must be on a weekly, biweekly, semi-monthly or monthly pay schedule |
| Residency | U.S. (including territories) |
| Required documents | Must provide a timesheet, a work email address or agree to GPS tracking to verify employment |
If a paycheck advance app won’t work for your borrowing needs, consider shopping around for a personal loan lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How does the app work?
To use the
How compares to other paycheck advance apps
Even if you believe stacks up against similar paycheck advance apps.
| Lender | |||
|---|---|---|---|
| Credit check | None | None | None |
| Interest | None | None | None |
| Loan amount | Up to | Up to per pay period with ExtraCash | |
| Fees | No mandatory fees; $2.99 to $5.99 in fees for Lightning Speed service | No service fees | $5 monthly membership fee; overdraft fees and express fees may apply |
| Funding timeline | Minutes if you use Lightning Speed; otherwise, in one to three business days | 24 hours or less | Typically five minutes |
| Bottom line | offers much higher amounts than competitors like and . also offers quick funding for a small fee. | is less of a paycheck advance app and more of an online banking app, but it also lets you borrow up to $500 with no fees or interest. | You can get a paycheck advance of up to with Dave. Dave charges a $5 monthly fee, overdraft fees and express fees to get your money faster. |
Frequently asked questions
The app may be a good fit for you if you’re facing a small financial emergency and need to come up with a few hundred dollars fast. Paycheck advance apps are not a long-term financial solution.
Instead, you should consider building an emergency fund and create a budget to prevent further overspending.
.
This may be a downside if you’re looking to build your credit. If this is the case, a credit builder loan or another form of credit may be a better fit for your financial goals.
You have two options for getting your money: Lightning Speed or standard transfer.
You can get money in minutes with Lightning Speed, but you’ll pay $2.99 to $5.99 in fees.
If you want to avoid paying any fees to access your paycheck advance, you can wait for one to three business days for your funds to be deposited in your bank account. This timeline is similar to how long it takes to receive personal loan funds.
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