MoneyLion

It actually is a bank. It's associated with Lincoln Savings Bank. 

It's a sister project of theirs that offer ways of credit improvement to those that may need help building their credit. They offer a debit card that acts similar to many out there for example : chime, Varo or Walmart MoneyCard and etc.  Chime is associated with Sutton bank I think and Walmart MoneyCard is associated with Green Dot Bank and another bank like Stash Investment is on the Green Dot Bank platform. Maybe the proper answer is that it's managed by an actual bank. It might be a good idea to look into something called the FDIC. Which is a federal back insurance provided with most banks if the worst was to happen, usually up to a certain amount per account example 200,000.  Are these bank products backed by the FDIC should be the question since MoneyLion is similar to Stash Investments and Acorns. These unique banking products love to get everyone involved in investments which are not backed because they can lose value. Playing with the stock market can be risky. Maybe the brokerage firms found a way for the poor man to be able to invest his money?  I don't know for sure but once upon a time ago in history, banks used to make most of their money from the wealthy until they realized the potential of making more from the common people. These banking products do have a bank behind them but do your homework before setting up your direct deposits into their sounds good to be true debit cards. I just looked this up and the debit card offered by MoneyLion is backed by Meta Bank which is FDIC insured. Evidently the major banks have teamed up with brokerage firms to help them into drumming more business up. You don't have to participate in the investment accounts even though they would love for you to do so. Here's what I found:  Yes! RoarMoneySM accounts are insured up to the standard maximum deposit insurance amount of $250,000 through our partner bank MetaBank®, N.A., Member FDIC. (https://moneylion.zendesk.com/hc/en-us/articles/360042559031-Is-RoarMoney-FDIC-insured-)

No, MoneyLion doesn't currently issue any credit cards. But it does offer a credit builder program that lets you loan money and also helps you work on your credit score.

But if you're interested in applying for a real card, check out our editor's latest picks for the best credit cards on the market. Whether you're looking for a card with a good 0% APR offer, one offering rewards, or one for people without a credit history, you can certainly find one for your exact needs.

There is no minimum credit score needed for a MoneyLion loan. That's because MoneyLion does not do a credit creck at all, which means even people with bad credit or no credit can qualify. However, there may be more worthwhile alternative lenders for you to consider.

MoneyLion posts direct deposits as soon as they are received. The exact timing depends on when your employer initiates the payment to your account. Deposits can post any time Monday to Friday throughout the day, with the exception of federal and bank holidays.