Once your direct deposit has been switched to the Deposit Account (opened through our banking partner), here’s what happens on payday:
- Your paycheck will be received in the Deposit Account.
- EarnIn will deduct from your paycheck the funds necessary to cover any voluntary tips, Lightning Speed fees, and earnings transferred out to your linked bank account in the previous pay period.
- Any remaining funds will be sent to your linked bank account. If you activate Early Pay, you will be charged $2.99 for the Lightning Speed transfer of the remainder of your paycheck. You will generally receive the remainder of your paycheck on the day your employer submitted the payment file, which can be up to 2 days before payday. If you selected Standard Speed your paycheck will be delivered on your regular payday or up to 1 day early, for no cost.
If you also have an EarnIn Card, here’s what happens on payday:
- Your paycheck will be received in the Deposit Account.
- Any outstanding 'Earnings Spent' (via transfers or card spend) in the previous pay period, including any voluntary tips and Lightning Speed fees, will be debited.
- If you use Paycheck Router, the remaining amount will be transferred to your linked bank account via ACH, per your instructions. If you opted in to Early Pay, the transfer will be expedited using Lightning Speed for a $2.99 fee per paycheck. With Lightning Speed, you should expect to receive your paycheck on the day your employer submits the payment file, which can be up to 2 days before payday.
Any remaining funds will be sent to your Secured Account (provided by our banking partner). You can spend Secured Account funds with your EarnIn Card or transfer them out to your linked bank account.