MoneyLion and Via Announce New Financial Membership Program
The partnership will provide Via drivers with a powerful new way to bank, invest and grow their money
NEW YORK, April 11, 2019 /PRNewswire/ -- MoneyLion, America's most powerful financial membership designed to help the hardest-working Americans save, borrow and invest, today announced a partnership with Via, the leader in on-demand shared transit, to provide its driver partners with a new way to bank, invest and grow their money. The partnership enables Via drivers in the U.S. to sign up for MoneyLion BonusSM, a financial wellness membership program created to help sharing economy workers invest, save, and plan.
"The number of Americans joining the sharing economy is growing rapidly, with 30 percent of the U.S. workforce receiving a gig paycheck every month. We've created a unique program that is designed specifically for those active in the sharing economy, so they are able to earn more rewards and save their hard-earned cash," said Dee Choubey, CEO and Co-Founder of MoneyLion. "We know that our innovative mobile banking app is a natural fit for that emerging industry, and the workers who already rely on their phones to manage their work lives, but we wanted to go further. We are excited to team up with Via to launch a new program that truly fits the unique needs of the sharing economy."
The partnership between MoneyLion and Via is a first-of-its-kind financial wellness program designed to provide drivers with tools that both educate them in financial literacy and create a seamless platform for easy-to-navigate payment processes. The program's benefits include:
* Zero-interest paycheck advance that participating drivers can take out any day of the week between pay periods, for up to $250. The paycheck advance is simply deducted at zero-percent APR from their next direct deposit.
* MoneyLion also offers a $500 low-interest loan that can be funded instantly to their account.
* Additionally, participating drivers can take advantage of zero-fee checking, zero-fee investment accounts, investment advice, cashback and rewards for everyday purchases.
* Drivers will also have access to free credit monitoring, up to 12 percent cashback rewards at over 20,000 retailers nationwide, and personalized budgeting and financial education.
The program can help members save an average of $887 a year by eliminating unnecessary bank fees, while also helping drivers increase savings and improve individual credit scores.
The MoneyLion Bonus program will be available to Via drivers in New York, Chicago, and Washington DC. To learn more about MoneyLion Bonus, please visit: https://partner.moneylion.com/via.
MoneyLion is America's most powerful and rewarding financial membership, empowering people to take control of their finances to achieve their dreams. Since its launch in 2013, MoneyLion has amassed more than 4 million members and has earned its customers' trust with new banking and investment capabilities that offer a one-of-a-kind rewards program, no-fee checking account, overdraft protection, and loans funded in 15 seconds. From a single app, users can get a 360-degree snapshot of their financial lives while having access to personalized tips and tools to improve their credit and achieve everyday savings. With the notion that good habits are formed over time, MoneyLion rewards users for decisions that move them closer to their financial goals. The success of MoneyLion relies on finding ways to make its members' money work as hard as they do. MoneyLion has offices in New York City, San Francisco, Salt Lake City and Kuala Lumpur, Malaysia. For more information, visit www.moneylion.com or download the app here.
Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via's mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in September 2013, the Via platform currently operates in the United States, and in Europe through its joint venture with Mercedes-Bens Vans, ViaVan. Via's technology is also deployed worldwide through partner projects with public transportation agencies, private transit operators, taxi fleets, private companies and universities, seamlessly integrating with public transit infrastructure to provide the most cutting edge on-demand mobility innovation.
MoneyLion Investment Accounts Are Not FDIC Insured. No Bank Guarantee. May Lose Value. For important information and disclaimers relating to the MoneyLion Investment Account, see Investment Account FAQs and FORM ADV. Broker-Dealer may charge a $0.25 withdrawal fee, among other fees.
Cash Advance requires MoneyLion Checking Account and Direct Deposit. MoneyLion Checking Account through Lincoln Savings Bank, Member FDIC. Terms and conditions apply.
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Released April 11, 2019