MoneyLion

MoneyLion, which launched in 2013, focuses on empowering consumers and giving them what they need to better control their finances. In just six short years, this company has already saved people more than $5 million.

For someone to take advantage of what MoneyLion offers, they must first become a member. That process entails clicking on the “Join” button on the top, right-hand corner of the company’s website home page. Overall, this takes only a few minutes to complete.

There are two different membership options. The first is the Core membership. This particular option costs nothing. People can download the app via the App Store or Google Play. The second is the MoneyLion Plus membership. For $19.99 a month, members can gain access to credit builder loans with a 5.99 percent APR. This also includes exclusive rewards, as well as next generation investing and banking accounts.

People can also choose from different products. For banking, there are no fees. However, members do enjoy security alerts, cashback rewards and ATM use without paying fees. Some of the additional benefits include no fees for monthly maintenance, initial card, minimum balance and even overdraft or insufficient funds. Direct deposits, ACH bank transfers and stolen cards also cost nothing.

The investing product offered by MoneyLion is just as impressive. Some of the primary perks are zero-fee investing, a fully managed and personalized portfolio and no minimum amount to open an investment account. People who want to invest without much, if any, risk, love what MoneyLion provides.

In fact, the overall process is extremely easy. People invest what they want and when they want. They can choose the auto-invest option or make adjustments to their portfolios as wanted. The goal of this company is to help people grow their money effortlessly.

MoneyLion also rewards its members for staying on top of their finances. One of the rewards includes tickets to see movies at AMC theaters. Even paying bills on time comes with a reward. Compared to other services similar to this, the reward factor is unique.

Free credit monitoring is also part of the MoneyLion memberships. At no cost, the service helps people track their current credit scores and make adjustments to improve it. With an alert system, members know almost immediately if something in their credit score changes, causing it to increase or decrease. As a result, they can take quick action as needed.

MoneyLion has a “Need help?” button on its home page as well. If anyone has questions or needs guidance, a representative will assist.