Are you still using your parents’ bank account or just the closest institution to you? Times have changed, and what a bank can offer you has too. If you are looking for a bank that has all the latest features like checking account rewards, 0% APR cash advances, lending, investing, budget tracking, and more – MoneyLion might be for you. Take a look at how MoneyLion combines bank + technology to provide a banking service unlike any other.
What To Look for in Bank + Technology Institutions
Advances in technology have improved many aspects of daily life, including how we bank and manage our money.
Mobile banking is now more accessible and secure than ever before. It’s easier to gain access to bonus features, and oftentimes fees can be lower compared to traditional banks. All in all, you shouldn’t settle for a traditional bank without exploring all the perks that bank + technology institutions have to offer. Read on to get an idea of the top perks you should be on the lookout for!
Top-of-the-Line Mobile App
A basic app that only lets you do the minimum just won’t cut it anymore. You should be able to conduct most, if not all, of your daily banking needs from the convenience of your mobile device. A mobile app should also be fast and easy-to-use, and keep your information secure.
MoneyLion’s mobile app combines the best of bank + technology features. There’s so much more to explore on top of viewing your bank balance. Browse through articles, educational resources, loan offers, and more at the tip of your fingers.
Curious to see for yourself? Download the MoneyLion app here.
Fast Lending
When you’re borrowing money, you shouldn’t have to wait days or weeks for your money to arrive. One of the benefits that come with the MoneyLion mobile app is access to instant approval and funding. You can get up to a $250 cash advance with Instacash at 0% APR – with the highest amounts available when you connect direct deposits to your RoarMoney mobile banking account.
There are no monthly fees and no credit checks for Instacash, and you can pay the money back around when your next paycheck comes through.
Sounds too good to be true? Read more about the very real perks of Instacash here.
Virtual Debit Cards
There’s nothing worse than creating a new bank account and finding out you’ll need to wait several days before your debit card comes in the mail. When you sign up for a RoarMoney online bank account, you’ll have access to a virtual debit card immediately.
You can use your virtual debit card to pay bills, make online purchases, and at any retail store where mobile payments are accepted. You’ll also receive a physical debit card in the mail in 10 or fewer business days with the same perks.
Investing
Investing used to be geared toward to high-net-worth individuals only. But the best bank + technology institutions make investing easy, accessible, and affordable for everyone. Look out for investing apps that offer personalized portfolios, no minimum balances, and no asset-based management fees. You should also look into auto-investing tools.
Auto-investing tools let you set up automatic deposits into your investment account on a recurring frequency – helping you build up your savings faster.
Whether you have $10 or $1,000 to start out with, your online bank should be able to meet your investing needs without requiring a separate app. MoneyLion’s managed portfolios check off the major boxes you should look for in an investment account for only $1/month, no matter how much or how little you choose to invest.
Read more about MoneyLion’s no management fee personalized investment portfolios here.
Debit Card Rewards
Most credit cards today offer some kind of rewards. But with the high-interest rates credit cards charge, it’s often hard to see how you can benefit in the long run. Why not opt for a debit card that rewards you for using the money that’s already in your account?
The MoneyLion app offers you cashback on everyday spending. You can access cashback from top online merchants, and you’ll also earn rewards just by shaking your phone! Yep, just remember to shake your phone whenever you make a purchase of $10 or more, and you’ll automatically earn rewards with Shake ‘N’ Bank!
Budget Tracking
One of the pillars of financial health is understanding your cash inflow and outflow, in other words – budgeting. The best mobile banking apps will help you create a budget and track your progress as you stick to that budget.
MoneyLion’s mobile banking app comes with Financial Heartbeat, a unique feature that tracks your overall financial health. The Financial Heartbeat takes into account your overall financial picture and scores you points depending on how much you’re saving and spending.
Read more about how Financial Heartbeat can help you stay motivated on the road to financial health here!
How to Get Started With RoarMoney
Ready to start working with a better bank with the latest technology? Follow these simple steps to get started!
Create a MoneyLion account using your email address. You’ll also have to input personal information like your Social Security number, address, and date of birth to verify your identity.
Select the RoarMoney banner to create your RoarMoney account!
Link an external bank account to start depositing funds right away. You can even fund your account with Instacash. Make sure to also set up direct deposits to get your paycheck up to 2 days early!
How MoneyLion Combines the Best of Bank + Technology
MoneyLion is always making advances in the mobile banking world and incorporating the latest technology. In short, MoneyLion goes above and beyond the traditional banking institution.
With instant no-fee cash advances, budget tracking tools, debit card rewards, investment portfolios, and so much more, MoneyLion makes sure you’re empowered to make your finances roar!
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Disclosures
MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, Pathward®, National Association, Member FDIC. RoarMoney is a service mark of MoneyLion. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.
With direct deposit. Faster and easier access to funds is based on comparison of traditional banking policies and deposit of paper checks versus deposits made electronically and the additional methods available to access funds via a card as opposed to a paper check.
Instacash® is an optional service offered by MoneyLion. Your available Instacash Advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors, as determined by MoneyLion. Expedited delivery requires Turbo Fee. See Instacash Terms and Conditions for more information and eligibility requirements.
Investment advisory services provided by ML Wealth LLC. Investment Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclosures relating to the MoneyLion Investment Account, see Investment FAQs, Form ADV Brochure, and moneylion.com/investing. Accounts are subject to a monthly account fee of $1, $3 (accounts valued over $5,000), or $5 (accounts valued over $25,000).
Credit Builder Plus membership ($19.99/mo) unlocks eligibility for Credit Builder Plus loans and other exclusive services. This optional offer is not a Pathward product or service. A soft credit pull will be conducted which has no impact to your credit score. Credit Builder Plus loans have an annual percentage rate (APR) ranging from 5.99% APR to 29.99% APR, are made by either exempt or state-licensed subsidiaries of MoneyLion Inc., and require a loan payment in addition to the membership payment. The Credit Builder Plus loan may, at lender’s discretion, require a portion of the loan proceeds to be deposited into a reserve account maintained by ML Wealth LLC and held by Drivewealth LLC, member SIPC and FINRA. The funds in this account will be placed into money market and/or cash sweep vehicles, and may generate interest at prevailing market rates. You will not be able to access the portion of your loan proceeds held in the credit reserve account until you have paid off your loan. If you default on your loan, your credit reserve account may be liquidated by the lender to partially or fully satisfy your outstanding indebtedness. May not be available in all states. Credit Reserve Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Credit Reserve Account, see Investment Account FAQs and FORM ADV.
MoneyLion does not provide, nor does it guarantee, any third-party product, service, information, or recommendation. The third parties providing these products or services are solely responsible for them, as well as all other content on their websites. MoneyLion is not liable for any third party's failure with regard to those advertised products, services, and benefits. These advertised products and services may not be FDIC insured or bank-guaranteed, and may be subject to a different privacy policy than MoneyLion’s. You should check individual offers, products, and services to become familiar with any applicable restrictions or conditions that may apply. MoneyLion may receive compensation from third parties for referring you to the third party, their products or to their website.
Instacash is a 0% APR cash advance service provided by MoneyLion. Your available Instacash advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. This service has no mandatory fees. You may leave an optional tip and pay an optional Turbo Fee for expedited funds delivery. For a $40 Instacash advance with a Turbo Fee of $4.99, your repayment amount will be $44.99. Generally, your scheduled repayment date will be your next direct deposit date. An Instacash advance is a non-recourse product; you will not be eligible to request a new advance until your outstanding balance is paid. See Membership Agreement and help.moneylion.com for additional terms, conditions and eligibility requirements.