People are living in debt because they are still trying to figure out how to finish paying up what they owe and sometimes their paycheck can not cover the loan because of the weighty interest added by the money lenders.
The best app that can help cover urgent expenses that will save people from running into problems with some greedy money lenders and helps them have better control of their expenses becomes the best alternative. Some of the best apps like this are Earnin, Money lion, and Daily Fee.
Types Of Apps Where You Get Paid Early
There are so many apps where you can get your paycheck in advance and solve those urgent financial needs, some of the apps are:
Earnin
This is an app that allows its users to access a certain amount of money to settle their emergency financial crisis before they get their next paycheck. It allows its clients to freely access as low as $100 with a maximum of $500 before their paycheck arrives. Earnin does not charge fees or ask clients to pay huge interest for getting an advanced paycheck but allows clients to voluntarily donate a small tip which is very little compared to what money lenders or banks charge for overdrafts.
Important Features on Earnin
The balance Shield cash out:
The app allows a client to be able to withdraw money after receiving a balance shield alert which is used to make the client aware of their current account status especially when their account balance is low, and helps them in cases like a bank overdraft. Balance shield cash out can only be used for free once but the app enables a user to donate a small tip so that they can continuously have access to the balance shield cash out on the app.
Wewin
This is another facility provided by the app that allows clients to save up money using the wewin feature.
Timesheet and location tracking
Earnin demands that clients provide evidence of being physically present at their place of employment by uploading a photo of their timesheet or setting up their device location so that Earnin can easily track their location and calculate their working hours to be able to calculate their earnings.
Earnin also provides medical financial assistance. Earnin clients pay some fees for the medical insurance facility. Linking of paycheck account:
It is very important to link the paycheck account to Earnin by providing correct account information so that Earnin can be updated on your account activities to enable Earnin to know how to assist you financially and set a suitable withdrawal limit for you.
Steps to create an Earnin account
Download the appFill in the necessary profile details Provide correct account details of the account you receive your paycheckSet your location
Money Lion
This app allows users to withdraw $250 from the app while waiting for their paycheck. Clients have to link their accounts to the app so that they can withdraw money. Money lion allows only verified members that have stayed for two months as members to access money.
Features
The MoneyLion app has a mobile banking facilityIt is a no-fee investment facilityIt has a credit-building facility
Daily Fee
On Daily Fee they allow clients to decide when they want an advance payment but with a fee. In Daily Fee clients pay a fee for every advanced payment.
Features
To access Daily Fee pay the employer of the person seeking advanced pay must be a partner of the Daily FeeTo register for a Daily Fee the person seeking an advanced paycheck can only register through the employer
CONCLUSION
These apps have made it easier for people to easily solve their little urgent expenses without having to wait until they are paid. These apps were built to save people from running into difficult monetary problems especially to cover expenses that come up unexpectedly to the user.
What is the best app to recommend for an advanced paycheck withdrawal?
The best app to receive an advanced paycheck is Earnin because it allows you to withdraw money without an additional fee but they allow you to voluntarily tip them.
Are there apps that charge a very low fee for an advanced paycheck?
There are so many Apps such as the Daily Fee that charge a low fee for an advanced paycheck.
