Hey guys,

Not sure if this is the right place to post but wanted to give experiences on Earnt.it.

They have just started the roll out process and onboarding pretty quickly.
They say they do not do ant credit checks and its like a advance on wages.
Limits are small at the moment and go up to £100 when you cash this out payment is taken on your payday with an added £10 on top for the service. Thats literally it.
The connect just like IFTTT on a read only basis to see what income you have comming in.

Ive been on the waitlist for a few weeks if i remeber right and was emailed on the weekend to say they are starting today.
Onboarding was pretty simple however its only desktop that is working at the moment and not mobile.
once singed up / verrified and approved ( all in a matter of an hour ) i cashed out and it took about 15 mins to reach my account.

overall i am very happy and seems alot simpler to use compared to portify.
The dashboard is very simple but again this is the first few stages and i am aware that they will be adding more things in the future.

Im curious too see if anyone else has used Earnt.it yet or in the onbarding process?

Again sorry if it is not in the right place.

Every time you withdraw £100, you’ll be £10 worse off next month? Is that how it works?

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Got a website? earnt.it doesn’t exist for me

haha pretty much yeah but it works out cheaper then paying od fees with them changing.

Looks to me like pay day lending but at a much lower interest rate.

They will give you your wages in advance of when you need them but will then take 10% of them as reward. Which then leaves you 10% down until the next period and that cycle continues.

This sort of lending stinks but I understand why people with no savings need it.

Unless I’ve completly misinterpreted the concept which is possible :grinning:


Depends on how much your overdraft is costing, I guess.

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Yeah i get exactly what you mean.

it is in essence a cheaper alternative, I cannot see everyone being for it but if the option is there i suppose its better to turn to earnt it rather then say the likes of everday loans ect where they can get away with charging so much in intrest for so little.
comparing it to say the likes of portify who do they same thing they charge 6.99 a month but have higer limits so again its still the same cycle but if needs must its a cheaper alternative.

im not sure what you mean there ? i am not the founder lol .

Yeah, the current address looks dodgy :see_no_evil:

oh sorry i misread.

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When on boarding i did state that the site is not easy to find at all and when you google them it comes up with the weekend haha

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Hey everyone, we are currently doing closed testing with a few users. You can view our website on www.earnt-it.com.

Hey @phildawson, probably would be a good idea to buy up the different country domains :slight_smile:

Looks like it’s been taken now :wink:

Thanks for the heads up. I owe you coffee / drink.

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Hey @Lynw, I really appreciate you taking the time to write your feedback here. We’ll get to work on your feedback.

Thank you for testing the product for us.


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Hi Sam, can you explain the comparative “representative APR” calculation on your website? I know you charge a fixed fee, not interest, but if I’m borrowing £100 today and paying back £100 plus a £10 fee when I get paid next week, surely that’s not the equivalent of a 10% APR? Or am I misunderstanding how the product works - it’s possible as there’s not a lot of info on the website. Cheers!

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This service actually seems quite dodgy to me.

  1. The website states that the product is not regulated - but firms supplying such products must be registered/regulated by the FCA.

  2. The website claims an APR of 10% but they make your repay the balance + 10% fee at the end of the month - so that didn’t seem right - they seem to be using the same loophole that Tandem are in calling it a fee not interest.

  3. The FCA has several rules governing the cost of lending including one which says “For all high-cost short-term credit loans, interest and fees must not exceed 0.8% per day of the amount borrowed.” Which I’m not sure this does.

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This is a market which is already in heavy development. Working capital products like these will become mainstream very soon. This service is attempting to get ahead of the market by packaging it in an unregulated product, I guess a bit like an invoicing service (similar to Klarna’s buy now pay later, but the reverse). Fair play to the entrepreneur for giving it a shot.

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Yes, I agree this type of product will become more popular in the future.

However, you’re not allowed to sell these as unregulated products - it’s against the law.

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