MoneyLion Announces Financial Membership

MoneyLion, the innovative financial platform offering consumers a better way to borrow, save, earn and invest, today officially launched America’s most powerful and rewarding financial membership to help people take control of their finances and achieve their dreams.

In support of the most powerful financial membership, MoneyLion will be launching the Financial Heartbeat as well as a comprehensive suite of premium banking products to help everyday Americans better understand and engage with their finances.

“Over the last year, our team has been hard at work building America’s most powerful financial membership and starting today, we’re giving Americans a revolutionary new way to get ahead, ” said Dee Choubey, CEO and Founder at MoneyLion. “With the new MoneyLion Financial Heartbeat and access to the industry’s most valuable checking and investing capabilities, Americans can finally feel like they have a path to a more successful financial future.”

At a time when the majority of people have less than $2,000 in their savings account, everyday Americans are suffering. A study from AEI reported 31 percent of Americans had hardly any confidence in their financial institutions and its leaders.

MoneyLion’s Financial Heartbeat addresses this challenge by eliminating the hassles of traditional finances with a glanceable financial tracker, which encourages users to feel financially empowered and become more in sync with their money. By providing feedback and reinforcement, the Financial Heartbeat is a reflection of the hard work users put in to improve one's financial health. The Financial Heartbeat focuses on five key pillars of financial health - Save, Spend, Shield and Score - and celebrates people’s progress with Strive as they achieve their long and short-term wealth goals.

Additionally, MoneyLion is introducing a suite of banking tools to further extend its membership services and to alleviate the high fees typically associated with traditional banks. Users will benefit from zero-fee checking accounts, a debit card with more rewards, and access to over 55,000 fee-free ATMs across the US. MoneyLion is also offering members instant cash advances with 0% APR. These cash advances, up to $250, will provide users with immediate resources to address their financial needs, with no fees attached.

“With the Financial Heartbeat and newly launched MoneyLion debit card, our members now have both the GPS to navigate their financial picture as well as the banking products to avoid potholes and other costly detours,” said Tim Hong, Chief Product Officer at MoneyLion. “Together, our more than 3 million members can get the guidance they need, as well as unlock a fee-free financial future to help them focus on what matters most.”

By adding the Financial Heartbeat and suite of premium banking products, MoneyLion is providing users with the freedom from financial stress and the opportunity to better achieve their goals. This marks MoneyLion’s continued commitment to building America’s most powerful financial membership. The Financial Heartbeat will be available for customers in December and the suite of banking tools will be available starting today.