STEP EARLYPAY

EarlyPay is a single-payment cash loan designed for customers who need quick access to funds. You can choose how you want to receive the loan: you can either access the funds immediately for a small instant access fee, or you can wait the standard processing time to receive the funds at no cost (which arrives in 3 business days).

Before you can use the EarlyPay feature, you’ll need to meet a few requirements:

• You have an adult (18+) account in good standing with a positive history

• You've verified your identity

• You have a regular direct deposit set up in your Step spending account or linked bank account

• You've earned Step Black

Please note: the 30-day Step Black Preview does not include EarlyPay.

If you meet these requirements, you’ll see an option to apply right from the Step home screen under the EarlyPay heading!

Once you submit your application, if you’re approved to take out a loan you’ll see the info with how much you could potentially borrow and will need to accept this offer.

Good news! You can access the loan you requested instantly by accepting a small instant access fee. Once you accept the fee and complete your loan request, the funds will be immediately deposited into your Step spending account. Otherwise, the funds will be deposited in 3 business days.

If you choose to wait, you’ll see a list of your pending loans from the EarlyPay screen in the app. You can tap into a pending loan to either speed it up (by accepting the instant access fee to get the funds immediately), or to cancel it if you change your mind.

Here’s how to update a pending loan to get the funds instantly, right from the app home screen:

• Tap EarlyPay

• Tap on the Pending Plan you want to view

• Tap Get it Now

• Review the loan details, including the Instant Access Fee

• Tap Confirm

The funds will be deposited into your account right away!

If you change your mind about taking out a loan, you can cancel it if the loan has not already been deposited and the loan is still pending.

To do this, just open the Step app:

• Tap EarlyPay

• Tap on the loan you want to cancel

• Tap Cancel cash request

• Then tap Yes, Confirm

The good thing about the EarlyPay loan with Step is that you don’t have to pay interest or APR on the amount you are borrowing. That means if you borrow $100 you’ll only pay back $100, unlike most traditional lenders.

Please note that if you choose to receive funds immediately, you’ll still need to pay the instant access fee on top of the loan amount. So if you opted to borrow $100 with an instant access fee of $5, you’d need to pay back $105.

The good news here is there are no upfront fees required to access the loan and you’ll still receive the full amount you requested. The instant access fee is only applied once and it is added to your full repayment amount.