Earnin, the leader in innovative solutions to some of the world’s tougher financial problems, today announced it will offer a new feature that gives workers early access to wages earned while working from home. The new feature is one of several changes Earnin has made recently to help ensure continued availability of the Earnin app for those affected by the COVID crisis. Other new features include access to unemployment benefits, the Helpin Facebook Group and a new community tool to help people identify COVID-related resources. The new WFH feature is in beta testing today but will be available soon in the Earnin App here.
“Due to increasing shelter-in-place orders during the COVID-19 pandemic, many in our community find themselves working at home. This has proven very disruptive for the majority of our members,” said Erbil Karaman, head of products at Earnin. “Our WFH feature is another example of how we’re innovating quickly to help our community cope with the challenges of this crisis.”
Work From Home Feature Highlights:
- The new feature will be available for community members, enabling them to track their hours from home.
- If Earnin community members qualify for the WFH feature, they simply submit their work email address, and Earnin verifies the address to confirm employment.
- Community members can then track earnings and cash out through the Earnin app.
The WFH feature is part of Earnin’s Cash Out product. Earnin’s products are non-recourse and there are no mandatory fees associated with it. However, people can pay what they believe is fair and leave a tip to cover the cost of the transaction if they choose to do so. Leaving a tip, or not, does not affect access to the service.
Earnin is a community-supported financial platform with a suite of tools that let people take control of their financial future. Earnin started out by solving one of the greatest – and least discussed – inequities in the American financial system: the practice of employers paying workers bi-weekly. Earnin’s core product, Cash Out, allows people to access the pay they’ve already earned. There are no loans or hidden costs. People pay what they choose. Other products include: Balance Shield, which helps prevent overdrafts, a financial calendar that helps people budget and schedule payments, and Health Aid, a service that tries to negotiate unpaid medical bills without charging mandatory fees.
Current funding partners include: Andreessen Horowitz, Matrix Partners, Ribbit Capital, Felicis Ventures and March Capital.