Frequently asked questions

The Earnin basics
Voluntary Tips
Earnin Products
The Earnin basics

What is Earnin?

Earnin was founded to empower consumers and provide them the tools they need to work towards financial stability. Our services are designed to free people from their employers’ payment cycles and provide an alternative to predatory payday lenders for our 1.3 million active users4. This consumer-first approach aims to remove barriers and eliminate the pitfalls and scams that lock people into a cycle of debt and fees.

Earnin was founded in 2014 by entrepreneur Ram Palaniappan. While leading another company, Ram was approached by an employee who was hoping to access their wages a few days before Human Resources was scheduled to do payroll.
Ram was happy to help this employee on a one-off basis but realized the problem was much greater than one individual with cash flow problems.
Word spread, and multiple employees came to Ram asking for similar help with earned wage access, evidence of clear demand.
Late bill fees, overdraft fees, high credit card fees, and expensive payday loans are problems that many working people face: Americans paid $11 billion in overdraft fees in 2019.1
Earnin started as a solution to that problem. Our products are focused on enabling people to access and save the money they’ve already earned, in a way that empowers them, not their bosses.
Today, Earnin is accredited by the Better Business Bureau and has an “A” rating2. We offer an ecosystem of products that help workers, especially those living paycheck-to-paycheck:
Cash Out, our flagship Earned Wage Access product
Earnin Express
Balance Shield, alerting users to low balance in their account
Financial Calendar, an easy way to see your Earnin transactions
Tip Yourself3, a microsaving tool
1Center for Responsible Lending Report on Overdraft Fees June 2020 accessible at: https://www.responsiblelending.org/sites/default/files/nodes/files/research-publication/crl-overdraft-covid19-jun2019.pdf 2As of March 2021, see Better Business Bureau site for most up to date information 3Funds are held with Evolve Bank & Trust, Member FDIC and are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Other restrictions and/or third party fees may apply. For more information/details visit earnin.com/tos 4Internal analysis conducted by Earnin in January 2021, represents total users who Cashed Out at least once from January 1 to December 31, 2020

How many users do you have?1

Earnin has more than 1.3 million active2 users who rely on Cash Out as their EWA financial tool, to help them overcome financial barriers and avoid pitfalls and scams that lock people into a cycle of debt and fees.


It works:
67% of our users report a drop in overdrafts, saving $58 / month on average on overdraft fees and $75 / month on average on payday loans
Source: Earnin Survey Dec 10 2020 - Jan 1, 2021: 1122 Responses

66% report an increase in their ability to pay bills on time
Source: Earnin Survey Dec 10 2020 - Jan 1, 2021: 1122 Responses

1Earnin Survey Dec 10 2020 - Jan 1, 2021: 1122 Responses
2Internal analysis conducted by Earnin in January 2021, represents total users who Cashed Out at least once from January 1 to December 31, 2020.

How does Earnin help people?

Earnin is a financial lifeline that works. A recent survey of Earnin users found 66% were better able to pay bills on time.
67% of our users report a drop in overdrafts, saving up to $58 per month on average on overdraft fees or up to $75 per month on average on payday loans
Earnin users reported the top uses for accessing earnings early were to help: pay for gas, groceries,rent, and utility bills, avoid overdrafts, and deal with financial emergencies.1
1Ibid

Is the Cash Out Product a loan?

Earnin is not a lender, and our Cash Out services is not a loan. Unlike payday lenders, we do not charge interest or any mandatory fees to use Cash Out—users only pay what they choose to with tips.

And we do not have a legal right to demand repayment from our users (Cash Out is non-recourse), which means we don’t send users to debt collectors, or report them to credit agencies.

How do the tips work?

Earnin community members control the cost of the products by voluntarily paying what they think is fair for the platform’s services. Tips are voluntary; there are no mandatory fees and you will never be refused service if you don’t tip. The average tip is less than the average out-of-network ATM fee. At the end of a Cash Out transaction, community members are given the option to tip. Tipping does not affect a member’s pay period maximum, and tips cannot exceed $14 on a $100 Cash Out, the maximum daily transaction amount.

1Disclaimer: Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

2Disclaimer: Balance Shield cash out is subject to your available earnings and daily pay period max. Other restrictions and/or third party fees may apply. For more information visit earnin.com/TOS.

3NO PURCHASE NECESSARY TO ENTER OR WIN. Must be 18 years of age or older and a legal resident of the U.S. or DC. Games begin each Sunday starting 12/6/20 at 9:01 p.m. ET and end the following Monday at 9:00 p.m. ET with the last Game ending 12/19/21. To download the App, view the Official Rules, odds disclosures, prize details, and alternate means of entry, visit https://www.earnin.com/wewin/. Void where prohibited. $10,000,000 grand prize payable over 29 years. Sponsor: Activehours, Inc. (d/b/a Earnin), 200 Portage Ave, Palo Alto, CA 94306.

4Disclaimer: Up to 2 days early is based on comparison with traditional banks. Exact timing is dependent on your employer's payroll policies. For more information on eligibility and requirements of Earnin Express, visit earnin.com/TOS.

5Source: Internal analysis conducted by Earnin on December 10, 2020.

1Restrictions on use of Services and/or third party fees may apply, see Earnin.com/ privacyandterms for details.

2Balance Shield cash out is subject to your available earnings and daily pay period max. Other restrictions and/or third party fees may apply. For more information visit Earnin.com/privacyandterms.

3Tip Yourself Account funds are held with Evolve Bank & Trust, Member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% APY and $0 monthly fee service. Other restrictions and/or third party fees may apply, see Earnin.com/privacyandterms for details.

1Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

2Restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

3Balance Shield cash out is subject to your available earnings and your daily pay period max. Other restrictions and/or third party fees may apply, see Earnin.com/TOS for details.

4NO PURCHASE NECESSARY TO ENTER OR WIN. Must be 18 years of age or older and a legal resident of the U.S. or DC. Games begin each Sunday starting 12/6/20 at 9:01 p.m. ET and end the following Monday at 9:00 p.m. ET with the last Game ending 12/19/21. To download the App, view the Official Rules, odds disclosures, prize details, and alternate means of entry, visit WeWin Game & Sweepstakes Official Rules. Void where prohibited. $10,000,000 grand prize payable over 29 years. Sponsor: Activehours, Inc. (d/b/a Earnin), 200 Portage Ave, Palo Alto, CA 94306.

5Tip Yourself Account funds are held with Evolve Bank & Trust, Member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Your Tip Yourself Account and any Tip Jars are not Savings Accounts. For more information/details visit earnin.com/tos.

6Up to two days early is based on comparison with traditional banks. Exact timing is dependent on your employer’s payroll policies. For more information on eligibility and requirements of Earnin Express, visit earnin.com/tos.

7Your Max on Earnin Express is up to 80% of your payroll or $1000, whichever is less. The 80% is dependent on you routing your full paycheck to Earnin Express. For more information on eligibility and requirements of Earnin Express, visit earnin.com/TOS.

8Learn how we collect and use your information by visiting our Privacy Policy.

1Disclaimer: Restrictions and/or third party fees may apply, see earnin.com/tos for more details. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection.

2Disclaimer: Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection. Restrictions and/or third party fees may apply, see Earnin.com/TOS for details

3Disclaimer: Community Member must have had at least 1 successful debit with Earnin. Limit to 1 Max Boost per pay period. A boost will not adjust a Community member's daily max. Restrictions may apply, see earnin.com/tos for more details

*Disclaimer: Balance Shield Cash Out is subject to your available earnings and daily pay period max.Other restrictions and/or thirdparty fees may apply. For more information visit earnin.com/tos

1Restrictions may apply, see earnin.com/tos for more details. Tip Yourself Account funds are held with Evolve Bank & Trust, member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Your Tip Yourself Account and any Tip Jars are not Savings Accounts. For more information/details visit earnin.com/tos

2Disclaimer: NO PURCHASE NECESSARY TO ENTER OR WIN. Must be 18 years of age or older and a legal resident of the U.S. or DC. Games begin each Sunday starting 12/6/20 at 9:01 p.m. ET and end the following Monday at 9:00 p.m. ET with the last Game ending 12/19/21. To download the App, view the Official Rules, odds disclosures, prize details, and alternate means of entry, visit https://www.earnin.com/wewin/game-rules/. Void where prohibited. $10,000,000 grand prize payable over 29 years. Sponsor: Activehours, Inc. (d/b/a Earnin), 200 Portage Ave, Palo Alto, CA 94306.

3Disclaimer: Restrictions Apply. See earnin.com/wewin/pool-rules/ for more information

*Disclaimer: Up to 2 days early is based on comparison with traditional banks. Exact timing is dependent on your employer's payroll policies. For more information on eligibility and requirements of Earnin Express, visit earnin.com/TOS.

**Disclaimer: Restrictions and/or third party fees may apply, see earnin.com/tos for more details. Lightning Speed may not be available to all Community Members. Cash Outs may take up to thirty minutes, actual transfer speeds will depend on your bank connection.

*Survey conducted in February 2020 with 889 participants.

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