You’ve noticed that mobile banks are growing in popularity, but you can’t help but feel confused. You don’t understand how to deposit cash into an online bank, so you don’t see how you can fund your account. There are tons of ways to fund a mobile bank account, and many are easier and more convenient than adding money to a traditional account. Find out how to sign up for MoneyLion’s mobile bank account and fund it in one of five ways.
Signing Up for a Mobile Bank
You can open a MoneyLion mobile bank account (no minimum balance!) in less than five minutes. You’ll need to:
- Download the MoneyLion app to your Android or Apple device.
- Open a RoarMoney account
- Use one of the several easy options to add funds to your account, including adding cash at any of the 90,000 retail locations that offer Green Dot®!
- Call 801-736-2453 to activate your virtual debit card.
- Set up direct deposits, if applicable.
- Receive your physical debit card in the mail and call to activate.
Funding Your Online Bank Account
Now let’s dig in and look at how to deposit cash into an online bank. With many options, funding a MoneyLion account is simple. You can even fund it from the comfort of your home if you wish.
Depositing Cash Into Your Online Bank Account
You can head to one of over 90,000 retail locations that offer Reload@theRegister™ powered by Green Dot® to add cash to your account. This service is at countless popular retailers, including Dollar General and Walmart, so you’re sure to find Green Dot® near you.
Once you arrive, walk up to the register and hand the cashier the cash you want to deposit into your account. You’ll need to swipe or dip your MoneyLion Debit Mastercard, and then the cash will go into your account. It takes approximately 10 minutes for the deposit to credit to your account. Hang on to your receipt until the cash appears in your account just in case anything goes wrong, you’ll have proof that you made the deposit.
Funding From an External Bank Account
If you have an existing bank account, you can use it to fund your RoarMoney account with MoneyLion. Go to the “Transfers” screen in the MoneyLion app and click “Add Account.” Link your account and then transfer the money. This is a quick and easy way to fund your bank account.
Using Cash Sharing Apps
Do you have a friend that owes you a few bucks, and you want to get paid immediately? Link your RoarMoney account to a cash sharing app, and use the third-party app to transfer payments from friends and family and schedule transfers to RoarMoney in a matter of seconds. The money typically appears quickly, so you can get fast access when you need it.
Direct Deposits Into Your Online Bank Account
Setting up direct deposit is a top choice since you don’t have to deal with paper checks, and you can get paid up to two days early with RoarMoney.
If your employer or payer (such as unemployment benefits) offers direct deposit, you can set it up in your RoarMoney bank account. Open up your MoneyLion app and click on the “Finances” tab, tap the “More” button, and select “Direct Deposit.” A direct deposit form will automatically generate and can be sent to your employer right from your phone.
If you prefer, you can have your employer set it up for you. Get your routing and account numbers by opening your MoneyLion app and clicking “More.” Then, your employer can set it up on his or her end. You can log into your benefits website and set it up there, or use this form to give you to your HR or payer. Once set up, your paychecks will start going right into your bank account in about 2 pay cycles.
With direct deposit, you’ll gain access to the highest amounts of Instacash. Instacash is an interest-free cash advance up to $250 per pay period. This interest-free advance gets cash in your account and you can receive it without undergoing a credit check. Loyal customers can earn boosts that take them over $250 too!
Whether you need to pay a bill or just want to go out with friends, you can unlock this feature and get the money instantly.
You can even fund your account with physical checks when you download the Ingo Money app and use it to deposit your physical checks. You can access it from within the MoneyLion app. Go to the Finances tab, tap “More,” open the RoarMoney menu, and tap “Mobile Check Capture.”
Then, you can follow the instructions to take a picture of your check and deposit it into your RoarMoney account. Ingo Money reviews the check and then adds it to your account. This process typically only takes a few minutes, but it can take up to an hour or longer depending on the method you choose Hang onto the paper check until the funds are in your account.
Fund Your RoarMoney Account Today
Funding a RoarMoney account is simple. You can deposit cash or checks, set up direct deposit, or transfer money from an existing bank account or even use your favorite cash sharing app.
With MoneyLion you can have an online bank account that is ready to use the same day complete with a virtual debit card, account and routing numbers, and easy access to fund your account with cash or other easy methods.