By 6 min read

Is MoneyLion legit?

Their site and application process are streamlined and simple, they offer reasonable interest rates, and they provide high-quality and reliable support. Financer.com can gladly say that MoneyLion is an excellent option when you’re in need of a loan or other financial services.

Is MoneyLion a real bank?

MoneyLion is a digital banking platform founded in 2013 that’s been offering financial subscriptions and memberships since 2018. MoneyLion is based in New York and offers banking, personal finance, and investment services for a monthly subscription fee, leading many to refer to it as the ‘Netflix of finance. ‘

Who is MoneyLion owned by?

Diwakar Choubey
MoneyLion is headed by co-founder and CEO Diwakar Choubey, who previously worked on Wall Street, where he held senior positions at firms including Goldman Sachs, Citadel, and Barclays Capital. Chief Information Officer Pratyush Tiwari, and Chief Technology Officer Chee Mun Foong are also co-founders.

How do you get out of MoneyLion?

Once you’re ready to cancel your Credit Builder Plus membership, follow these easy steps on the MoneyLion app.

  1. Click on your profile picture (It’s probably in the top left corner of your screen.)
  2. Tap “membership”
  3. Tap “manage my membership”
  4. Tap “Cancel”

What happens if you dont pay MoneyLion back?

It’s important to know that when you miss a payment, we will continue to attempt to repay your Instacash advance and any related Tips and Turbo Fees from your eligible accounts as long as your payment authorizations for those accounts remain active.

How do I not pay back MoneyLion?

If you need to defer a loan payment (with no impact on your credit score), you can do so via the MoneyLion mobile app. Open the Chatbot on the home screen by clicking “Tap for help” and type “defer loan payment” to get started.

What bank is MoneyLion?

MetaBank
MoneyLion bank accounts are provided through MetaBank, National Association, which is an FDIC member. That means the money in your checking account is covered by FDIC insurance, up to $250,000. Investment accounts aren’t FDIC-insured, however.

What is similar to MoneyLion?

15 Apps Like Brigit and MoneyLion for Financial Help, Advance Pay Loans etc

  • Earnin.
  • Branch.
  • Dave.
  • PockBox.
  • CashNetUSA.
  • Even.
  • Chime.
  • Avant.

Can you change money repayment date lion?

You can change your repayment date to one business day* before or after your original repayment date. If you have made a deferment on your cash advances, you will not be able to change your repayment date.

Does MoneyLion affect credit?

No! We don’t do any sort of credit pull during or after an Instacash request. We don’t engage in debt collection relating to Instacash advances. We don’t sell unpaid advances to a third party.

What happens if you can’t pay MoneyLion back?

How much can you borrow from MoneyLion?

MoneyLion offers credit-builder loans up to $1,000. The company will review your finances and a linked checking account, and decide whether you’re approved and how much money you’ll receive.

What are the customer reviews of MoneyLion bank?

Customer reviews MoneyLion has a rating of 4.6 out of 5 from almost 14,000 reviews on Trustpilot. 82% of reviewers rate the service as excellent and only 6% as bad. That is actually an excellent rating for a digital bank.

What are the benefits of using money Lion?

Money lion has helped me make it check to check and has graciously not charged me late fees when I’ve been struggling the rewards are awesome for just using your money lion debit card you get cash back with the shake and bank rewards Great App! Great, simple financial app and solutions to help you in a bind and help set you up for future success.

How can I contact MoneyLion for live support?

Whenever an issue was brought to MoneyLion’s attention, they addressed it quickly and responded with a proposed solution to the problem. MoneyLion offers live chat support through their app along with a chatbot feature for simple questions. Customers can also contact them through phone support or their website.

Is the MoneyLion bank in Delaware a bank?

MoneyLion is not a bank but a fintech company, or a so-called neobank, or even a challenger bank. That doesn’t mean that it’s not regulated; in fact, according to the SEC, MoneyLion “is regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware.”