Cash Out is changing for D.C. residents
EarnIn is introducing changes to Cash Out starting in July for those living in Washington D.C. After setting up a no-cost deposit account through our partner bank, Evolve Bank & Trust, D.C. residents will continue to get up to $100 per day, up to $750 per pay period and other EarnIn features such as Credit Monitoring and Tip Yourself. However, Balance Shield will no longer be available in D.C.
What is changing?
Here’s how your EarnIn experience will be different than before.
EarnIn deposit account - You’ll need to set up a no-cost deposit account through our partner bank, Evolve Bank & Trust. To set up your account, you’ll need to provide your social security number, address and date of birth so we can verify your identity – just like when you open any other bank account. This account will hold your earnings until they’re transferred to your linked bank account. The account is free to set up and doesn’t impact your credit score.
Lightning Speed fees and tips - You won’t be asked for optional tips anymore. The flat fee for all expedited transfers will change from $3.99 to $5.99. Lightning Speed fees will be debited at the time of transfer. For example, if you request a transfer of $100 via Lightning Speed, $94.01 will arrive in your bank account within minutes. There’s also a no-cost way to access your earnings, just select the standard transfer option to get cash in your linked bank in 1-2 business days.
Debiting - On payday, we’ll first attempt to debit the full repayment amount from your EarnIn deposit account. If you transferred out funds and the full amount of your repayment is not available in your Deposit Account one day before repayment is due, we will instead attempt to debit the full amount from your linked bank account.
For EarnIn Card holders
The cash out process for EarnIn Card holders will not change.
How do I transfer out now?
To get your same-day pay, there are two steps that involve moving money through your new EarnIn deposit account into your linked bank. Don’t worry, this doesn’t impact how quickly you can access your earnings!
Step 1: Move your earnings into your new deposit account. This step is free and instant. Your repayment date and repayment amount are set at this step.
Step 2: Move your cash from your EarnIn deposit account to your linked bank account. This step has two transfer speed options:
- A no-cost transfer option via ACH (Standard Speed) that deposits your funds in 1-2 business days.
- A $5.99 Lightning Speed transfer option that deposits your funds in minutes.
Here’s how the whole process works with a $100 transfer.
Get your money in minutes
- Instantly get $100 earnings into your deposit account at no cost
- To spend it, move up to $100 from your deposit account to your linked bank account
- Use Lightning Speed for $5.99
- Up to $94.01 arrives in your linked bank account
Get your money in 1-2 business days
- Instantly get $100 earnings into your deposit account at no cost
- To spend it, move up to $100 from your deposit account to your linked bank account
- Use standard speed for no cost
- Up to $100 arrives in your linked bank account
What happens to money sitting in my EarnIn deposit account?
Any money sitting in your deposit account that doesn’t cover the full amount of repayment can be moved to your linked bank account. You have two transfer speed options: Lightning Speed (get it in minutes) or standard transfer speed (get it in 1-2 business days).
Why do you need my personal information, e.g. Social Security Number?
Federal regulation requires that we collect your full, nine-digit Social Security number and other personal info to verify your identity any time you’re setting up a deposit account. This will not impact your credit score in any way. For more info on how we protect your info, please refer to our Terms of Service and Privacy Policy.
What if I do not live in Washington D.C.?
Please help us verify your identity and residence by clicking Continue. Once you’ve completed the identification verification process, the app will redirect you to your usual EarnIn experience.
EarnIn is a financial technology company, not a bank. Banking Services are provided by Evolve Bank & Trust, Member FDIC.
Fees and restrictions apply to use Lightning Speed. Lightning Speed may not be available at all times. See EarnIn Cash Out User Agreement. Expedited Transfer fee paid up front where applicable - see Evolve Deposit Account Agreement.
Subject to your available earnings, Daily Max and Pay Period Max. EarnIn services may not be available in all states. Restrictions and/or third party fees may apply, for more information please review our Terms of Service available at EarnIn.com/TOS