Head Office
MoneyLion, Inc.
P.O. Box 1547
Sandy, UT 84091-1547
United States
Customer Service
Phone: 1-888-659-8244
Email: support@moneylion.com
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About MoneyLion
A fairly recent entrant in the field of finance, MoneyLion has made a name for itself in the financial services sector. It is the new way to bank, invest and make money grow. With a mission to make money more approachable and empower consumers to take greater control of their financial lives, it helps subscribers to get the latest news in the world of finance, advice about loans and credit monitoring services and also helps with wealth management. MoneyLion believes they can help people make smart financial habits.
Easy to subscribe to and access, the comprehensive website and mobile app, gives step by step guidance on various services offered. The first step is to open an account with MoneyLion. In order t register for services, you must 18 years old and have a bank account.
You could choose between two options – the free account or the paid account called MoneyLion Plus. While both accounts give the user access to all services, Plus users have special benefits. About $79 is withdrawn every month from the Plus user’s account out of which $50 is invested in a portfolio which suits the user, $29 goes towards the membership fee. However, if the user logs into the MoneyLion app every day, $1 is refunded each day, working out to it being a free membership.
The ‘Core’ basic membership is a zero-fee checking account with free credit monitoring. Users get financial tracking tools for both bank and investment accounts. With the iOS or Android app, you can see your account overview while on the move, apply for new products and more. All funds are held securely held by Lincoln Savings Bank, a member of FDIC
A unique feature of MoneyLion’s services is the personalized advice given to each user. Based on the information from your bank account, your credit score and your investment history, MoneyLion will monitor and help you maximize returns for your money through personalized advice. Further, with a MoneyLion account you get access to ATM network that crosses 55,000, access to cash advances, and managed investment account. Currently, MoneyLion boasts of more than 3 million users in the US, besides 2 million financial accounts.
Their rewards programme incentivizes simple tasks and encourages people to use the app. Rewards are given for logging into the app every day, for signing up for credit monitoring, for making your payments on time and also if you take a loan from MoneyLion. Over a period of time, you could accumulate points and redeem them for rewards ranging from movie tickets and gift vouchers to attractive loan interest rates.
Credit monitoring is also a great help to the user, not only giving access to credit score and credit worthiness, but also to be intimated if there is any change in user’s credit score, that may affect future loan applications.
MoneyLion Plus members can also avail of the services of Wall Street experts who invest the $50 deduction in safe investments and Exchange Traded Funds, ensuring that returns are high. There is also an insurance of up to $500,000 for all investment portfolios. Plus membership is offered only to US citizens or residents or those who have a social security number.
Plus membership also opens the door to easy loans with a fixed Annual Percentage Rate of 5.99% all at the click of a tab on the app. To qualify for a loan one would need a certified identity with an employment proof, a pass on the credit worthiness check, and a bank account with direct deposit paychecks and a positive balance. For more information for queries on account opening, forms, payment, loans, refund, cancellation, or others, reach the MoneyLion support.
