MoneyLion Rewards Program Terms and Conditions

Terms and Conditions

Updated as of August 30, 2023

The following terms and conditions (the “Terms”) are applicable to the rewards program (the “MoneyLion Rewards Program”) that MoneyLion Technologies Inc. and its affiliates (collectively “MoneyLion”) offer to MoneyLion users. The MoneyLion Rewards Program allows users to earn promotional points (“Rewards Points”) redeemable for credits to users’ deposit account provided by Pathward®, N.A. (the “Bank”) in connection with your MoneyLion account (each a “Deposit Account”), MoneyLion investment account or for other items as may be designated by MoneyLion from time to time. These Terms are subject to other agreements you enter into with MoneyLion and its affiliates and service providers, including, without limitation, the MoneyLion Terms of Service, Membership Agreement and Privacy Policy.

As the administrator of the MoneyLion Rewards Program, MoneyLion is solely responsible for the terms and conditions of your participation in the MoneyLion Rewards Program, your eligibility for program rewards and any tax withholding or reporting obligations relating to the MoneyLion Rewards Program. None of MoneyLion’s service providers or partner banks, including the Bank, have any duties, obligations or relationship with respect to the MoneyLion Rewards Program. The Bank is not affiliated in any way with the MoneyLion Rewards Program and does not endorse or sponsor this offer. Your use of your MoneyLion account and related products and services, including use of any Deposit Account and associated MoneyLion-branded debit card (each a “Debit Card”), constitutes your acceptance of these Terms.

These Terms are subject to change or cancellation from time to time for any reason or no reason, including to change the terms for earning rewards, imposing limits on rewards or canceling rewards. MoneyLion may also supplement these Terms to introduce new rewards promotions or modify existing promotions. MoneyLion may provide notice of changes to the MoneyLion Rewards Program as and if required by applicable law. Your continued use of your MoneyLion account and related products and services after any changes are made to these Terms will constitute your agreement to and acceptance of any such changes.

Eligibility and Participation

By signing up for a MoneyLion account, you will automatically be enrolled in the MoneyLion Rewards Program and will have the opportunity to earn Rewards Points. In order to earn Rewards Points, you must have an active MoneyLion account in good standing, and you must download the MoneyLion mobile application (the “MoneyLion App”). To redeem Rewards Points you have earned, you must be a MoneyLion member in good standing (which may include being current on payments of any loans you have borrowed from MoneyLion or its affiliates or partner banks), have an active Deposit Account established at the Bank and have made at least one purchase transaction using your MoneyLion Debit Mastercard ® and RoarMoney virtual card.. Additionally, you may also be required to open a MoneyLion investment account managed by MoneyLion’s subsidiary, ML Wealth LLC (an “Advisory Account”).

Earning Points

You may earn Rewards Points in connection with your everyday spending and by completing other actions that MoneyLion designates from time to time as subject to the MoneyLion Rewards Program. Specific terms and conditions for rewards opportunities (including the Rewards Points you can earn for each opportunity) will be posted in the Rewards section of the MoneyLion App or on MoneyLion’s websites, including the Rewards Program Frequently Asked Questions available at help.moneylion.com. Please visit the App and those sites for more information on currently available rewards opportunities. The amount of Rewards Points granted for different behavior will vary, and is at MoneyLion’s sole discretion. However, regardless of the method for accumulation of Rewards Points, upon redemption of the Rewards Points, one Reward Point will always be the equivalent of $0.01.

Each time you earn Rewards Points, your points balance will be updated, which you can view by logging into the MoneyLion App and navigating to the “Rewards” tab. If you believe that you have validly earned Rewards Points that have not been posted to your account, please go to help.moneylion.com to contact customer support for assistance.

MoneyLion’s decisions regarding Rewards Points discrepancies shall be final. Unless specifically authorized by MoneyLion, Rewards Points may not be combined with other discounts, special rates, promotions or other reward programs offered by MoneyLion or a Bank. MoneyLion may expire your Rewards Points if you are not a MoneyLion member in good standing or if you have been inactive for a period of at least 180 days.

MoneyLion may further limit the number of Rewards Points you can earn or use within certain periods of time, or may implement other restrictions related to the receipt or use of Rewards Points. Some opportunities to earn Rewards Points may implicate additional terms and conditions, including those of MoneyLion’s partners and merchants.

Redeeming MoneyLion Rewards Points

The Rewards Points you earn will be redeemable in the manner determined by MoneyLion. Currently, once you meet the minimum amount of points required for redemption (2,500 points), Rewards Points may be redeemed solely as a credit into your Deposit Account or Advisory Account.

To redeem Rewards Points, go to the Rewards tab in the MoneyLion App, click on your points balance and then follow the steps to redeem points. You can also find instructions on redemption in the Rewards Program Frequently Asked Questions available at help.moneylion.com.

For any Rewards Points that are redeemed as a credit to your Deposit Account, those funds will be subject to all of the terms and conditions of your Demand Deposit Account Agreement, available at https://mldocs.moneylion.com/MoneyLion%20DDA%20Terms%20and%20Conditions.pdf. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.

For any Rewards Points that are redeemed as a credit to your Advisory Account, those funds will be subject to all of the terms and conditions of your ML Wealth LLC investment advisory agreement and ML Wealth’s Form ADV, available at https://moneylion.com/adv. Among other things, funds in your Advisory Account are not FDIC insured, may lose value and are subject to a periodic account administrative fee.

MoneyLion reserves the right to modify the amount of Rewards Points you may earn for various actions, the conversion rate of your Rewards Points into Deposit Account or Advisory Account credits or other rewards items, and the manner in which points may be redeemed. Currently, one Rewards Point is the equivalent of $0.01.

All redemptions are final and no refunds or returns of Rewards Points will be given once a redemption has been made. Please refer to the Rewards Program Frequently Asked Questions available at help.moneylion.com for additional instructions on how to redeem Rewards Points.

Miscellaneous

Rewards Points are non-negotiable and cannot be redeemed for any benefit except those designated by MoneyLion. Rewards Points do not have value until they are awarded pursuant to these Terms. Until they are awarded, Rewards Points are not property, and may not be brokered, bartered, attached, pledged, gifted, sold, or unless specifically authorized by MoneyLion, transferred to anyone else under any circumstances, including, but not limited to: disability, death or in connection with any domestic relations dispute and/or legal proceeding. MoneyLion can immediately suspend or disqualify you from the MoneyLion Rewards Program, in whole or in part, at any time and for any reason. MoneyLion will suspend or disqualify you from the MoneyLion Rewards Program if you or anyone associated with your membership (1) violates these Terms, any terms and conditions governing your MoneyLion membership, Deposit Account, Advisory Account or other account you have with MoneyLion or its affiliates or partners, (2) engages in fraud or suspected fraud, misuses or games the MoneyLion Rewards Program, or (3) takes another similar action, as determined by MoneyLion in its sole discretion. If MoneyLion suspends or cancels your participation in the MoneyLion Rewards Program, this action may (1) prevent you from earning and/or using Rewards Points, (2) decrease Rewards Points value, (3) cause you to lose Rewards Points, and/or (4) require MoneyLion to close your MoneyLion membership, Deposit Account, Advisory Account or other account you have with MoneyLion or its affiliates or partners. You are responsible for all transactions and other activities relating to your participation in the MoneyLion Rewards Program.

The MoneyLion Rewards Program is provided for personal, family and household use only. MoneyLion reserves the right to disallow or revoke Rewards Points or debit the Deposit Account or Advisory Account for the monetary value of Rewards Points already awarded and credited for actions made for other than personal, family or household use.

You agree to release MoneyLion, the Bank and their affiliates, partners, service providers, directors, officers, employees, contractors, agents and representatives from all liability for loss, claim, expense or damages sustained by you, in connection with the receipt, ownership or use of any Rewards Points. The foregoing parties shall not be liable for incidental, punitive, exemplary, indirect or consequential damages (including lost profits), and the sole extent of liability, if at all, shall not exceed the actual value of the Rewards Points you earn. Neither MoneyLion nor the Bank is responsible for typographical errors and/or omissions in any MoneyLion Rewards Program document.

Reward Points that you redeem under the Rewards Program may be deemed taxable income from MoneyLion in the year in which they are redeemed pursuant to U.S. tax law. If the value of Reward Points you receive in a year and any other taxable miscellaneous income you receive from MoneyLion equals $600 or more for a calendar year, MoneyLion may be required to send you a Form 1099-MISC for that year and submit such form to the IRS. MoneyLion determines the tax value of any Reward Points you receive for tax purposes. You are responsible for determining any personal tax liability arising from participation in the MoneyLion Rewards Program. Consult your tax advisor concerning tax consequences.

Bank 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 and the circles design are registered trademarks of Mastercard International Incorporated. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.

MoneyLion Shake ‘N’ Bank Cash Back Promotion – Supplement to MoneyLion Rewards Program Terms and Conditions (Updated as of November 1, 2021)

This MoneyLion Shake ‘N’ Bank Cash Back Promotion is a supplement to, and is incorporated into and made a part of, the MoneyLion Rewards Program Terms and Conditions (the “Terms”), all of which apply to this promotional supplement. Capitalized terms not defined herein shall have the meanings ascribed to them in the Terms.

With the MoneyLion Shake ‘N’ Bank Cash Back Promotion, you can earn Cash Back Rewards on all Qualified Purchases (as defined below) that you make with your Debit Card once you successfully complete the “Shake ‘N’ Bank” actions described in this supplement. Any Cash Back Rewards you earn under this promotion will accrue and be credited to your Advisory Account, as further detailed below.

“Qualified Purchase” for this MoneyLion Shake ‘N’ Bank Cash Back Promotion means any purchase of at least $10.00 in a single transaction that you make with your Debit Card. Qualified Purchases do not include balance transfers, cash advances, ATM transactions, finance charges, fees, interest charges, gambling transactions, peer-to-peer transfers from services such as PayPal, Cash App, or Venmo, unauthorized/fraudulent transactions and certain other charges. Transactions that are not Qualified Purchases do not qualify for Cash Back Rewards Consideration.

After you have made a Qualified Purchase, you will receive a push notification or link on your mobile device from MoneyLion prompting you to physically “shake” your device in order to receive Cash Back Rewards for the Qualified Purchase. To receive your Cash Back Rewards, click the push notification or link and shake your device until you are notified of the Cash Back Reward that you have received. Alternatively, you can access the Shake ‘N’ Bank feature for your Qualified Purchases on the Rewards Activity page of the MoneyLion App. Follow the prompt within the MoneyLion App and then click the Shake ‘N’ Bank icon until you receive your Cash Back Reward notification. Your opportunity to receive Cash Back Rewards may expire if you do not successfully complete the Shake ‘N’ Bank activity within a time period disclosed to you in the MoneyLion App.

For each Shake ‘N’ Bank opportunity, you can earn Cash Back Rewards (once awarded as a cash equivalent) between $0.01 and up to five times the amount of the applicable Qualified Purchase, subject to a maximum of $500.00 per Qualified Purchase. The amount of Cash Back Rewards you earn is determined using a randomized, weighted algorithm with smaller Cash Back Rewards being awarded more frequently than larger ones. Minimum amounts of Cash Back Rewards may vary based on the amount of your Qualified Purchase, and Cash Back Rewards for a certain number of initial Qualified Purchases may be greater than those generated by the randomized algorithm. There is no limit to the total amount of Cash Back Rewards you can earn under this promotion, though you will not be able to earn more than your purchase amount (subject to the $500.00 maximum) on any given Shake ‘N’ Bank opportunity. If you process your Qualified Purchase as a “debit” transaction, any Cash Back Rewards you earn will generally be credited to your Deposit Account or Advisory Account instantly after you complete the Shake ‘N’ Bank activity. If you process your Qualified Purchase as a “credit” transaction and complete the Shake ‘N’ Bank activity, your Cash Back Rewards will be shown as pending until the Qualified Purchase settles, after which the Cash Back Rewards will be credited to your Advisory Account. Any pending Cash Back Rewards associated with “credit” transactions that do not settle within 14 days of authorization of the transaction will expire and you will no longer be able to receive Cash Back Rewards in connection with that transaction. MoneyLion receives transaction data from third-party merchants and payment processors. MoneyLion will not be responsible for any failure of a merchant or payment processor to provide timely or accurate information regarding a purchase to MoneyLion.

As of November 1, 2021, MoneyLion has established a daily pool of at least $2,500 in Cash Back Rewards for rewards up to the amount of the Qualified Purchase (with a maximum reward of $120) and a separate daily pool of at least $2,000 in Cash Back Rewards for rewards of five times the amount of the Qualified Purchase (with a maximum reward of $500), in each case to be randomly awarded in connection with this promotion. If any daily Shake ‘N’ Bank cash pool is exhausted on a given day, the randomized algorithm will no longer be used to determine Cash Back Rewards. Instead, anyone completing a Shake ‘N’ Bank activity for a Qualified Purchase after each daily pool is exhausted on that day will receive the minimum amount of Cash Back Rewards that MoneyLion has designated for the Qualified Purchase (based on the transaction amount). Each daily pool may not be awarded in full each day. Unawarded amounts of each daily pool will expire and will not roll over to the next day. MoneyLion will not inform users if each daily Shake ‘N’ Bank cash pool is exhausted. MoneyLion may, from time to time and without notice, during this MoneyLion Shake ‘N’ Bank Cash Back Promotion, modify the amount allocated to each daily pool.

The MoneyLion Shake ‘N’ Bank Cash Back Promotion is designed to be compatible with mobile devices that support the MoneyLion App. However, certain devices may not be able to facilitate the “shaking” function required to successfully receive Cash Back Rewards in this promotion. Additionally, the functionality of the Shake ‘N’ Bank feature may become disconnected or disabled as a result of poor connections or speeds or other technological limitations. MoneyLion, the Bank and their respective affiliates, directors, officers, employees, contractors, agents and representatives shall not be liable for any incompatibility or inoperability of your mobile device or lack of functionality of the Shake ‘N’ Bank feature or for any damage or injury that may result from using the Shake ‘N’ Bank feature.

This MoneyLion Shake ‘N’ Bank Cash Back Promotion offer applies to Qualified Purchases made on and after November 1, 2021 and shall continue indefinitely until canceled or modified by MoneyLion. This promotional supplement will be updated to reflect any cancellation or modification of the MoneyLion Shake ‘N’ Bank Cash Back Promotion.