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- EarnIn Expands Balance Shield to Enhance Customer Protection from Overdraft Fees
EarnIn Expands Balance Shield to Enhance Customer Protection from Overdraft Fees
Slice of Finance Team
15 Oct
Key Highlights:
Customizable low balance alerts for free, notifying customers when balances drop below $0-500.
Automatic transfers of up to $100 of earnings to prevent overdraft and late fees.
No subscription or commitment, giving customers full control over toggling features on or off.
Customers save $540 annually on average by avoiding overdraft and late fees with EarnIn.
Source: Business Wire
Notable Quotes:
"I love that I can turn it on and off and set my own balance threshold. I would describe it to a friend like overdraft protection from your bank, but WAY better because you control it."
"We’re focused on using technology to streamline financial processes, all designed to help our customers feel more secure and confident in their financial outcomes."
Our Take:
EarnIn's enhancement of Balance Shield is a significant step toward providing consumers with greater control over their finances. By offering customizable low balance alerts and automatic transfers, EarnIn continues to address one of the major pain points for banking customers—overdraft and late fees. This update further underscores EarnIn’s commitment to using technology to empower financial security and transparency for its users.