Is bank verification required, and why do you need it?

Bank verification helps us better understand if you are eligible for a loan and what amount you qualify for. Completing bank verification is a safe and secure way for us to quickly and efficiently verify your:

- Employment
- Transaction History
- Income

Your banking credentials are never stored and any data that is retained by MoneyLion is encrypted. No employee at MoneyLion has access to banking information. Bank Verification takes a snapshot of your current banking activity and history, which assists our Underwriters in making a decision on your loan application. Completing this step is not required to be considered for a loan, but we may ask to verify your income using alternative methods (i.e., uploading of paystubs).

Was this article helpful?
3 out of 9 found this helpful
Have more questions? Submit a request