Can you Overdraft MoneyLion? 

MoneyLion is a financial service that does not allow customers to overdraw their RoamMoney account. This is because they would not allow customers to incur any form of debt caused by a negative balance in their RoamMoney account. Thus, in the event a business transaction will result in a negative balance on your account, MoneyLion will prevent it from going through, thus declining it and preventing you from acquiring a fee. ..

What is RoarMoney?

A RoarMoney account is a deposit account that uses MasterCard as its exclusive card network. RoarMoney provides innovative features such as two-day early paydays, sophisticated mobile wallet capabilities, different financing choices, superior cyber protection, and near real-time transaction notifications. It can also function as a separate bank account under MoneyLion. ..

Why use MoneyLion?

MoneyLion helps you avoid paying hidden fees and no minimum balance. Such hidden fees include overdraft fees, ATM withdrawal fees, dormancy fees for account inactivity, and foreign transaction fees (for transactions that occur outside of the country or with a foreign merchant.)

Money Lion is a company that believes in not overspending and preventing overdrafts from happening. They have a firm stance against payment for Overdrafts and any subtle fees when you do not have sufficient funds in your RoarMoney account. Instead, they offer other options such as the Instacash Cash Advance feature which allows customers to get an extra source of funds. Let’s read more about Money Lion and their beliefs!

Steps on how to use MoneyLion–

1. Set up a MoneyLion account:

The mobile app can be downloaded from Google play store, IOS app store or through this link.

2. Store your Personal Information:

Personal information

3. Ensure your personal Phone Number aligns with the Requirements:

To add your phone number to MoneyLion, follow these steps:

  1. From the Personal Information screen, select “Personal Information,” then click on the arrow next to your phone number.
  2. Follow the instructions to add your phone number.

4. Add your Checking Account to your Wallet:

To access your profile photo, click on the top left corner of your MoneyLion app home screen. ..

• Choose Wallet from the main menu to access your wallet.

• To add a new payment method, click on the “Add a new payment method” button. • Enter the details of your new payment method, including your bank account number and routing number. • Click on the “Submit” button to add your new payment method to your Wallet. ..

Bank account Bank account options include checking, savings, and investment accounts. Checking accounts are the most common type of bank account and offer the most features. They can be used for both personal and business purposes. Savings accounts are a better choice for people who want to save money for future needs. Investment accounts allow you to invest your money and can provide you with the opportunity to make profits.

• Choose your bank from the list.

• Once you have chosen your bank, you will be required to input account details and a one-time PIN.

• After successful contact is established with your bank, you will be able to select the acceptable payment option from the MoneyLion Wallet.

5. Add a Debit Card to your MoneyLion Wallet: 

• On the Wallet page, you will see a list of your current balances and transactions. • To view your recent transactions, select the Transactions tab. • To view your account history, select the History tab. ..

• Choose one of the payment methods below to complete your purchase. -Visa -Mastercard -American Express -Diners Club

The credit card industry is booming, with more and more people using them to pay for goods and services. But what about the debit card? This type of card is becoming increasingly popular, as it offers a convenient way to spend money without having to worry about your bank account. Here are five reasons why you should consider using a debit card:

  1. It’s faster than paying with a check or cash. When you use a debit card, your funds are transferred immediately to your bank account rather than waiting for the next day or week to receive your paycheck. This can save you time and money in the long run!
  2. It’s secure. A debit card is one of the most secure ways to spend your money, as it uses encryption technology to keep your data safe. This makes it difficult for anyone other than you and your bank account owner to access your funds!
  3. It’s easy to use. Debit cards are easy to use – just enter in the amount you want to spend and hit “submit”! This makes them perfect for small transactions, such as buying groceries or gasoline!
  4. You can easily add new cards if necessary. If you ever lose or forget your debit card key, there’s no need to worry – all you need do is contact your bank and they will help add a new card into your account automatically!

Please input your card number, expiration date, and CVV.

If you would like to continue with your purchase, please click “Next.” If you have any questions, please contact our customer service team at 1-800-555-1212. ..

If everything is correct, you will be sent to a success screen. ..

• After clicking done, your card will be added to the wallet and you will be able to use it.

To link your bank account to your Coinbase account, select “Link an account” from the “Finances” menu at the bottom of the home screen. ..

• Use the filters on the left to find a bank that meets your needs. • Read reviews and ratings to find out what other customers think about the bank. • Compare interest rates and fees to find the best deal for you. ..

To connect an account, tap the “More” icon in the upper right corner of the home screen. ..

If you want to link your Facebook account to your Google account, click on the “Link an account” button. ..

Conclusion

MoneyLion is a reliable and affordable financial service that allows users to save, invest and navigate their finances using its services. Unlike other financial services, MoneyLion does not allow users to overdraft their accounts because it does not support hidden and unwanted fees. It is accessible to anyone in the United States with a mobile phone.

What if I am overcharged by services such as rental vehicles, hospitality, and fuel stations?

Some merchants may place a hold on your account for an excessive amount of money, in order to reflect the full sale amount on your account immediately. If you buy gasoline at the station, up to $100 may be held in your account, and if you stay at a hotel, an extra 20% may be held in your account.

This is a way to save money on your debit card purchases by holding onto the funds until the actual transaction reflects in your account. Most stores have a hold period of one to three days, so this can help you save money on your next purchase.

An Instacash Cash Advance is a type of loan that allows consumers to borrow money against their future income. The cash advance can be used to purchase items or withdraw cash from a bank account. To get an Instacash Cash Advance, consumers must complete an application and provide proof of income.

If you have a qualified primary bank account and link it to MoneyLion Instacash, you can get cash advances of up to $250 at any time. There is no interest, no subscription cost, and no credit score required. ..

Instacash is a new way to make money. You can earn up to $300 in Instacash, and if you make an eligible regular direct deposit to your RoarMoney account, you can earn up to $1,000 in Instacash. Tap ‘Accounts’ on the MoneyLion App’s Home page to obtain an Insta Cash advance. You will find out quickly if you qualify and how much money you can get.