We verify your bank account by sending test transactions under $1. This helps us confirm that they posted to the correct account and also allows us to verify if we can send money to your bank and debit it back successfully.
If you see these test transactions but the app shows we’re still verifying your bank, please contact our support team in the app.
In case your bank account has a negative or low balance, we’ll pause the transactions to avoid any overdraft fees. Once our system detects a positive balance, we’ll send out the transactions to complete the verification process.
Why can't Earnin instantly verify my bank?
Test transactions sent to verify your bank are sent via ACH which normally takes 1 business day to post which is why verification is not instant. Because of this, we don't send test transactions over the weekend and during holidays, prolonging the verification process.
Test transactions sent to verify debit cards for Lightning Speed are sent using the ATM network (like all Lightning Speed Cash Outs).
Why does the test transaction need to be posted and not pending to cash out?
A pending status means that the bank is still processing our test transaction. Sometimes banks do not accept and return our credits/debits instead of going through. This causes issues when you cash out, so we need to wait for our test transactions to post to be sure that everything works properly.