Earnin loan Review [2020] : How It Works, Application, Payment, Contacts

Earnin loan app is offered by Activehours, Inc. The Earnin loan app is available on the Google Playstore, is accessible to all US residents and has over 5M+ downloads in addition to a 4.3/5 star rating with 138K+ reviews.

 

How to register for Earnin loan

Download the Earnin payday loan app from the Google playstore

Create a profile on the Earnin payday loan app and link it to your bank account.

NOTE: The bank account should be direct deposit or a checking account

 

How Earnin App verifies data

Salaried workers: Location/GPS to track applicant’s movements to verify if s/he actually has a job s/he reports to on a daily basis.

Hourly worker: Connect app to employer’s company’s online timesheet system/ Manually upload photos of timesheets/ enable location/GPS tracking.

 

Earnin app interest rate

None. The Earnin payday loan app does not charge any interest or fees.

However, they do accept tips whenever you use the Earnin payday loan app and this is usually deducted from one’s paycheck/salary on payday together with the previously advanced loan.

 

Earnin loan app withdrawal limits

The Earnin payday loan app has two withdrawal limits namely:

Daily limit which is usually $100 for all users

Pay period limit which refers to the total withdrawal amount one can make during pay periods and is largely dependent on one’s income, expenditure and general financial behavior.

This means that individuals who have larger expenses that lead to overdrafts will have lower limits compared to those that do not.

 

How the Earnin loan overdraft protection works

The Earnin payday loan app charges $1.50 per month for the overdraft protection feature.

This feature monitors every user’s account and automatically disburses $100 whenever an account is about to go into overdraft thus preventing additional overdraft fees imposed by various banks.