Frequently Asked Questions

  • What is Hundy?

    Hundy is an Earned Wage Access provider that offers deposit advances from $25 to $250 without a credit check and paid for with a voluntary tip. Much of the capital powering the Hundy deposit advance is sourced by crowd investors. Both members and investors participate in the Hundy community that places a high value on the sharing and celebration of small acts of good character. Hundy members can set up an account and request an advance in less than 5 minutes, and will receive their funds within one business day.

  • Why do I have to sign up with my Facebook or Apple account

    We require you to use Facebook or Apple to sign up in order to streamline the onboarding process and to help verify you’re a real person. Don’t worry, we don’t currently share or post your information to social media and will never do so in the future without your permission.

  • How do I add a profile picture?

    Just sign in using Facebook and we’ll grab your picture from there. You only need to do this once and may continue using your Apple ID to sign in after that.

  • How is Hundy different from P2P lending marketplaces like Lending Club and Prosper?

    First, the minimum loan size these companies offer is typically no less than $1,000. Second, they pass their loans to banks that then sell off pieces of each loan to individual investors (primarily large institutions). On Hundy, we gather a pool of money from individual investors just like you and then use that pool of money to fund advances to individuals just like you, without banks or middlemen.

  • Is my personal information safe?

    Your personal information is stored on servers, which are protected by a combination of virtual and physical security systems utilizing industry-standard best practices for stored data. In addition, your banking information is passed to our payment processor using encrypted communication and is never stored by Hundy.

  • How do I contact Hundy?

    You can reach us at:

  • For Members (those requesting advances)

  • Why would I use Hundy to get an advance?

    If you’re in the two-thirds of the US population who lives paycheck-to-paycheck and doesn’t have great credit, then Hundy is for you. Most small-dollar lenders are high priced, predatory debt traps while getting money from friends & family can come with a high social cost. Hundy gives everyone access to the people around them, which helps bring those costs down and removes much of the awkwardness from asking for money (and paying it back).

  • Who Should use Hundy to get an advance?

    You should use Hundy if you have an immediate expense that can be deferred for up to two months, and can repay the advance directly from deposits you have coming into your bank account. If we can verify your identity and you have regular income along with a checking account that has: i. over 6 weeks of transaction history, ii. deposits totaling over $2,000 per month and, iii. a consistent positive account balance, then you have a good chance of being eligible for your first deposit advance between $25 to $100. The best part is we don’t check your credit, you can apply in minutes and you decide how much it costs. If due to unforeseen circumstances you are unable to pay the advance back on time, we'll give you up to two more months to pay it back. All we ask is that you communicate with us along the way as you work through any issues and you'll soon become a valued member of the Hundy community.

  • Where can I use Hundy?

    Unfortunately, due to an issue with our payment processor, all states are currently offline. If you download the Hundy app, you may request to be put on the waitlist for your state.

  • How much does a deposit advance on Hundy cost?

    We do not charge a fee for the deposit advance, though we do ask for an optional donation. Your generosity helps us to operate our service and continue to provide assistance to others who are in need of a financial cushion. We select a weekly default donation based on the amount and duration of your advance but you may select any amount you think is fair.

  • Does using Hundy affect my credit score?

    While completing your deposit advance application, Hundy analyzes your bank transaction history among other data collected from you, which DOES NOT AFFECT your credit score. If you fail to pay back your advance, we do not report delinquencies to the credit bureaus or send you to collections.

  • Why should I pay Hundy back?

    First, by paying your advance off on time along with a positive risk assessment, you earn the ability to request larger advance amounts. Second, you will earn points for paying your advance off on time, which you can use to get cash back (when this feature becomes available). Third, we realize you shouldn’t need a financial cushion on Hundy forever. So once you make it up to the top tier, you’ll be eligible to become an investor on Hundy at a discounted rate, giving you a fast track to reliable investment income.

  • What is the Hundy Hub and what are "good character" achievements?

    Simply being approved for the Hundy community and paying your advances off on time are achievements worthy of recognition, and we let you share these moments with the Hundy community as well as view them via a social feed called the Hundy Hub. Posting to the Hundy Hub is an opt-out feature and all achievements are public by default.

  • How long will it take for my advance to show up at my bank?

    Your advance should appear in your account within one business day from your Funding Date. A business day is Monday through Friday, 9am - 5pm Pacific Time, except for federal or state holidays. If your advance request is made on a business day before 1pm PT, your Funding Date will be the same day you request the advance and your advance will arrive the next business day. Otherwise it will be the first business day after you request the advance and your advance will arrive the next business day after that.

  • Can I cancel an advance?

    We can help you cancel an advance if you notify us within 24 hours of initiating it. Typically, this will be done by issuing an offsetting debit transaction, so you may just prefer to zero out the donation and make an early payoff at your convenience.

  • What is the term of my deposit advance?

    The standard term of your deposit advance is 61 days, though you may select a period from 1 to 8 weeks in which to pay it off early. We give you a three-day grace period at the beginning and a two-day grace period at the end of the standard term leaving 8 weeks, or 56 days in between.

  • How do I repay my advance and optional donation?

    When you sign up for Hundy you link a bank checking account to your Hundy account. This linked bank account is used to deposit your advance as well as to repay your advance while Apple’s In-App Purchase system is used to pay any donation amount you have selected. You may update your linked bank account at any time in the Hundy app (except when a debit or credit is processing) and must always have an active linked bank account to continue your membership.

  • How do I pay off an advance early or extend the due date?

    In the Hundy app, you can pay off an advance early at any time by selecting the “Pay Off Early” option. You can extend the due date of your advance up to the maximum 8-week advance period by selecting the “Extend Date” option

  • Are there any prepayment penalties or late fees?

    There are no prepayment penalties or late fees on Hundy. And if you still have an advance balance outstanding after the 61-day initial term, you will not be charged additional fees.

  • How do I check my advance balance and payment dates?

    Whenever you have an active advance on Hundy, the details of your advance will be shown on the Balance screen under the Money tab found in the bottom navigational menu.

  • Where can I find the details of my previous advances?

    For any of your advances you have previously paid off, you can find the details of each advance and access a copy of the advance agreement under the Settings & Help > Advance History selection.

  • What happens if I can’t repay my advance on time?

    If you are unable to pay off the balance due within the first 61 days, Hundy may have to suspend your account. If we are unable to work out a plan or do not hear from you, then your advance will be charged off and your account will be closed.

  • How long do I have to wait before I can get another advance?

    You can only get one advance at a time and you have to wait at least 4 business days after your final advance payment has settled before you can request your next advance. After you pay off an advance, you will see a “Processing” message in the Hundy app, which will be displayed until we receive notification that your bank has accepted your payment and your payment as settled, which can take 1 to 2 business days.

  • Why didn’t my advance limit go up or it won’t let me get another one?

    In general, you will be eligible for an increase of the maximum advance amount you may request after two weeks from the initiation of your previous advance payoff assuming your payoff was made on time and that you used your full advance limit. Typically, you will receive an increase of $25 to $50 per advance if all criteria below are met and in this way you can work your limit up to $250 over time. Please note that eligibility does not guarantee a future increase to your limit or that you will even be able to request another advance, which is subject to minimum historic cash flow levels being met among other criteria. Our approval engine uses complex machine learning algorithms, and such high risk signals as large fluctuations in monthly income, higher monthly expenses than income, a periodic negative balance, a zero bank balance, a zero donation on previous advances, a high risk online only bank and many other factors taken together can prevent an advance limit increase or even another advance from being offered.

  • For Investors (those funding advances)

  • How do I become an investor on Hundy?

    Hundy now accepts investors directly in the Hundy app. After installing the app, simply create an account and choose the “I’m looking to invest option”. Once approved, choose the “Invest & Sponsor” option under settings to see the available investment options.

  • What are the terms of my investment?

    You may invest between $500 - $5,000 in the form of unsecured, short term debt that will be repaid to you from the Hundy Capital Pool within the selected term and at the selected APY. You may select a term between 90 days to 270 days at the indicated APYs currently between 6% - 8% (subject to change). Actual repayment dates and amounts will be shown in the Capital Pool agreement.

  • Can I cancel my investment?

    You will get a follow up email after you make the investment with a signed copy of your agreement, and if you find anything not to your liking, you may cancel it any time before your investment clears (typically 3 to 4 business days).

  • How do I transfer money into my Hundy account, and how do I transfer money from my Hundy account back to my bank account?

    The way the investment process works is that when you sign the investment agreement and authorize the funds transfer, the money goes directly from your bank account via ACH into the capital pool account. When your investment term is over, you’ll get an email from us notifying you that your payoff + interest is due back to you, and then we ask you to confirm if you want to close out or would like to reinvest the funds. If you want to close out the investment, the funds will be transferred directly from the capital pool account into the bank account you have linked to your Hundy account at that time.

  • How do sponsorships work?

    Along with your investment, you will get credits for member sponsorships in the Hundy community at the rate of 1 sponsorship per $100 invested good for the term of your investment. You will see your sponsorship counts on the home screen of the money tab. Before you invest you won’t have any, but after your investment clears, you will see the sponsorship count increment up based on the size of your investment. Once you close your investment, each sponsorship will expire once the current transaction for a sponsored member is completed.

  • Why should I sponsor someone?

    In addition to the interest earned on your investment note, you earn points when your sponsored members do the right thing. You get points for your sponsored members achievements shortly after they are awarded their points (even if you sponsor them one minute before their payoff settles). Your points allow you to level up and get ranked against other investors in the Hundy community. And coming soon, you'll be able to convert those points into cash back.

  • What happens if I got my sponsorships via a StartEngine investment?

    Sponsorships earned via your StartEngine equity investment have an expiration date, though we have extended all expiration dates for these sponsorships until we roll out all investor features including listing the expiration date in the Hundy app. If you make a debt investment on top of your StartEngine investment, you will get more sponsorships and be able to accrue more points for as long as you have the investment outstanding.

  • What if I want to unsponsor a member?

    Any member can be unsponsored after the completion and clearing of the first transaction in which you began sponsoring them.

  • Is an investor’s money at risk with Hundy or with each sponsored member?

    Investors pool their money into an account held by Hundy so your risk is with Hundy not the member. Therefore, there is no downside to sponsoring members, though by selecting the best members you will maximize your ROI.

Join Hundy Today!
Get a $25 to $250 deposit advance on your money from people, not banks.