Earnin is a payday loan software that allows you to withdraw up to $100 each day from your earnings. There are no fees or interest charges in this software, and all you have to do is choose how much you want to spend to support its services.
It has the following features:
- The Balance Shield protects you against large bank overdraft penalties while also allowing you to keep track of your bank balance. If the bank balance falls below a specified threshold, it sends an alarm.
- It pays you with cashback when you shop. You must link your Earnin account to your debit or credit card. If you choose to pay with a credit card, you will receive a 1% to 10% cashback rebate at your local retailers or restaurants.
Another advantage of the Earnin app is that it never keeps your personal information, all data is encrypted, and it complies fully with US privacy regulations.
12 Alternative Apps to Earnin
1. Chime
There are several cash advance programmes out there. There are no pay check advances available. It allows you to access your funds instantly after they are deposited into your account, but you must have a direct deposit account to do so.
Chime has the following features:
- There is an automated savings option that allows you to round up your debit card purchases to the next dollar and credit the difference to your savings account.
- There is a payment app option that lets you to transfer money to your relatives and friends that have a chime account without incurring any service fees. Chime integrates all of your contacts to make your job easier, so you can effortlessly fund.
2. Dave
Dave has a feature that says he doesn’t require a minimum balance and doesn’t want to advance funds. If you make a payment to a financial institution that is greater than the amount in your account, the institution will cover the cost and charge you an inflexible fee. If the sum is greater than your balance, Dave will notify you. It allows you to obtain a cash advance of up to $100 from your next pay check if necessary.
Dave does not need credit checks and just a 1% membership fee. Other features include the ability to freeze or unfreeze your card via the app, an automated budget system based on your monthly spending, and a side hustle option that connects you to money-making opportunities in your area.
3. MoneyLion
MoneyLion offers a no-fee checking account as well as cash advances with a 0% APR.
It features a 24-hour option that allows you to get fast cash of up to $250, which will be deducted from your next pay check with no credit checks or interest. It has a number of membership benefits, including:
- There is a checking account that allows you to move money from your savings account to a portfolio of exchange traded funds for no cost. It also doesn’t charge any trading fees.
- It provides free fraud prevention by alerting you if it detects any questionable activity on your account. You may also use this app to lock or unlock your debit card.
4. Even
This software offers a free advance on your salary received through its rapid pay function. It offers an alerting mechanism that sends you notifications about upcoming expenses and the amount you’ll need to pay them. You may also use this programme to set away your funds.
For access to this app’s budget and savings capabilities, you’ll have to pay $2.99. If you wish to be a plus member, you must work for an employer in order to receive the advantages. After becoming an employer, you may be eligible for a 50% advance on your next pay check for the month.
5. SpeedyCash
SpeedyCash is a cash-in-advance programme that doesn’t require a credit check. It was originally designed to help borrowers manage their debts, but it now also gives you a cash advance on your next paycheck. It offers vehicle title loans, instalment loans, and credit lines. It offers very quick pay day advances.
6. Brigit
Brigit is a no-fee cash advance application. It provides you with a cash advance of up to $250 that is transferred directly to your account without the need for a credit check. If your account balance is low, this app will notify you. You may set up automatic advances here to prevent paying high bank overdraft fees. It has specific conditions, such as a monthly income of over a particular amount and a consistent source of income.
You must have a six-month-old checking account with a balance of at least $0. You must also show that you make payments, receive deposits, and check balances on your account. This programme uses a point system in which you must earn 70 points to get cash in advance, and the points are based on your wages, spending, and banking habits.
7. PayActiv
PayActiv provides you with immediate access to the earnings you have earned. You will get half of your salary, up to a maximum of $500. By sending money from this app to your bank account, you may pay your expenses online. Every time you use this app, you will be charged a cost ranging from $0 to $5. It provides free credit counselling to help you lower your debt payments. It enables you to keep track of your financial objectives and make modifications when your income or spending fluctuate.
8. DailyPay
Employees and contractors who use DailyPay get early access to the money they’ve earned. Working will help you build up a balance, which you may request at any moment. Each request is subject to a $1.25 asking charge. There will be no changes to the company’s current payroll system. Companies that employ this include Vera Bradley, Shiftgig, Westgate Resorts, and Maids International.
9. Branch
This software is primarily for business owners. It will assist you in keeping track of your employees. Workers may use this app to request time off, exchange shifts, and receive calendar reminders. It aids in the creation of a specific budget, provides early access to your profits, includes a portfolio for showcasing your abilities, and allows you to request more shifts in order to earn more money.
10. FlexWage
FlexWage allows you to receive your pay early and provides you with a reloadable debit card on which you may load money. Your employer sets the limit on how much you can withdraw. This features a function that allows restaurant servers and personnel to get gratuities on their payment cards after their shifts are finished. FlexWage is used by Wendy’s, McDonald’s, and Panda Express, among others.
11. Possible Finance
Possible Finance is identical to MoneyLion in terms of operation, however the loan terms are different. Possible loans are for a shorter period of time – up to 8 weeks – and have a maximum loan amount of $500. And after you’re done, you’ll be able to send reports to the main credit agencies, giving you the opportunity to boost your credit score.
If you can afford to repay rapidly, Possible may be a better option because it will help you to pay off your debt faster. Possible’s annual percentage rate (APR) varies from 150 percent to 200 percent, which is hefty but not as high as usual payday lending rates or overdraft costs.
12. Even
It also includes fast wage payments, such as Daily Pay and PayActiv, as well as free budgeting tools and FDIC-insured Automatic Savings. Even operates in a similar way to Daily Pay and PayActiv when it comes to making early wage payments. Even works with companies around the country to make pre-payday payments possible. You must, however, subscribe to the $8 monthly plan to get fast payments.
Is $8 a month too much? It depends on how frequently you’ll be withdrawing funds — and yes, Even allows you to make on-demand payments as often as you’d want. Even would be as expensive as Daily Pay for up to four payments per month (remember that Daily Pay charges $1.99 every withdrawal). If you needed payments more frequently, the $8 monthly payment would be much less expensive.
However, if you just have one or two payment requests every month, Daily Pay might be a better option. When compared to PayActiv, Even is a better option if you need money quickly. You’ll be charged $8 every month regardless of how often you use the service (but you won’t be charged if you don’t use it for two months). PayActiv only bills you $5 every two weeks if you utilise the programme.
Conclusion
These applications are some of the alternatives to Earnin, an app that pays you cash in advance. If you need it, the app will send you a pay check ahead of time.
