Grit Financial offers a unique banking experience that allows employees to access their earned wages early. In addition to the early wage access, Grit Financial offers other benefits such as earning 3.0% APY interest paid daily on account balances, with no minimum balances or monthly fees. Users can receive up to 60% of their earned wages the following day, which is automatically repaid when their monthly wages hits their Grit account.
With Grit Financial’s VISA Debit Card, users can also earn 0.5% cashback paid daily on debit card purchases, which is particularly beneficial for low-income Americans who primarily utilize debit cards for payments. According to a report by the Federal Reserve Bank of Boston, approximately 30% of all payments by Americans are made using debit cards. A study by ValuePenguin found that low-income Americans use debit cards for more than 50% of their payments.


Grit Financial’s unique business model relies on revenue from merchant fees from debit card transactions, combined with a very low cost structure. The model is based on several critical new technologies, such as platforms like:
- Plaid and Argyle which interface with the majority of payroll and banking systems,
- Sophisticated mobile-based identity verification platforms from companies like Persona and Prove
- Robot process automation software, which allows Grit to interface with legacy systems without an API.
By using Grit Financial’s services, users can save money and improve their credit scores. According to a study by the Consumer Financial Protection Bureau, overdraft fees cost consumers an average of $250 per year, and the median value of an overdraft fee is $34. For example, a teacher making $70,000 per year could get up to $400 on average in interest and cashback above what they would get from a traditional bank, in addition to up to $600 in savings on late and overdraft fees.

Overall, Grit Financial offers a no-fee banking experience with flexible payment options and a suite of money management tools. Sign up now.