EarnIn, a pioneer in Earned Wage Access (EWA) or on-demand pay, announced today the launch of $2.99 expedited transfers, known as Lightning Speed, positioning itself as a leader in low-cost EWA solutions. This new, affordable transfer option is available to any U.S. worker with a consistent paycheck. To access this service, customers simply need to download the EarnIn app and set up a qualifying Direct Deposit through a virtual account with EarnIn’s partner bank.
This low-cost transfer allows customers to access their earnings directly into their current bank account without requiring a subscription, membership fee, or pay card. With nearly 60% of Americans living paycheck to paycheck, EarnIn’s latest offering enables customers to access a portion of their earnings ahead of payday for only $2.99 per expedited transfer.
“Working Americans are struggling to make today’s payday schedule work for their everyday expenses. Bills are not due on payday and expenses are not incurred systematically. We need a financial system that meets the growing demands of payments today, while reaching people in a way that is economically feasible,” said Ram Palaniappan, Founder & CEO of EarnIn.
In addition to the $2.99 expedited transfer option, EarnIn continues to offer its always-on, no-cost EWA solution. This service provides wage access to anyone with a paycheck at no cost, with no interest, no mandatory fees, and no credit checks.
About EarnIn
EarnIn lets you access your money as you earn it — not days or weeks later. We’re on a mission to reimagine the way money moves to empower every person’s potential. That starts with payday every day and builds with automated savings tools, credit monitoring, and low-balance alert features. All with no interest, no credit checks, and no mandatory fees. Our goal is to provide as many opportunities as possible for our customers to spend and save on their terms.
EarnIn’s pioneering Earned Wage Access app is backed by world-class partners like A16Z, Matrix Partners, and DST. Since our founding in 2013, 3.8 million customers have given it over 380,000 5-star reviews for helping them access over $15 billion in earnings.
Learn more at EarnIn.com.
- Eligibility for qualifying direct deposit may vary based on the specific EarnIn product you use. For detailed information, please refer to the terms of service associated with each product (Cash Out, Deposit Account, EarnIn Card).
- EarnIn is a financial technology company, not a bank. Banking services are provided by Evolve Bank & Trust, Member FDIC.
- Restrictions and/or third-party fees may apply. For more information, please review our Terms of Service.
- EarnIn does not charge interest or mandatory fees for use of its services. Restrictions and/or third-party fees may apply. For more information, please review our Terms of Service.
