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MoneyLion Pave the Wage Promotion -- Terms and Conditions

Limited time offer. This promotion is open to all genders. To be eligible to receive matching contributions, participants must be in good standing with MoneyLion and must maintain direct deposits of at least $500 per deposit (after tax withholding) (“Minimum Deposit”) into their MoneyLion Checking Accounts at all times after opt-in and through the date of the matching contributions, as described below. MoneyLion’s total matching contributions will not exceed $3,000,000 in the aggregate for eligible participants(the “Maximum Commitment”), and will not exceed 17% of a single direct deposit for individual eligible participants, subject to a cap of $599 per individual (the “Maximum Match”).

Matching Contributions

Individuals who opt into the promotion between March 1, 2019, and the time at which the Maximum Commitment is reached (the "Promotional Period"), and who do not already have active preexisting direct deposits into a MoneyLion Checking Account will be eligible for one-time matching contributions of 17% of their initial direct deposits of funds into their MoneyLion Checking Accounts, subject to the Maximum Match. Generally, the matching contributions will be made available 90 days after the initial qualifying direct deposit, and will be deposited into a participant’s MoneyLion Investment Account. Once the Maximum Commitment is reached, MoneyLion will have no obligation to make matching contributions for any direct deposit made, regardless of individual applicant eligibility or time of opt-in for the promotion.  

Eligibility

The promotion is available to any person who opts into the promotion until the Maximum Commitment is met and who is not making direct deposits into a MoneyLion Checking Account as of the time they opt into the promotion. To be eligible, members must direct deposit at least the Minimum Deposit into their MoneyLion Checking Accounts during the Promotional Period. To qualify, members must opt in by clicking  the designated link in the email sent from MoneyLion regarding the promotion, or in the MoneyLion in-app message for the promotion.  MoneyLion members who have active preexisting direct deposits into a MoneyLion Checking Account as of the beginning of this promotion are not eligible for this promotion.  

Timing of Matching Contributions

MoneyLion may provide matching contributions to the first 100 eligible direct deposits within 10 business days of confirmation that eligible funds have been appropriately directly deposited.  For all other participants, MoneyLion will provide matching contributions after the participant has maintained MoneyLion Checking Account direct deposits of at least 90% of the value of their initial direct deposits for 90 days after their initial direct deposit. MoneyLion reserves the right to provide matching contributions at earlier times to select participants in its sole discretion.  

General Terms and Disclosures

MoneyLion employees and members of their immediate families and households (whether or not related) are ineligible for this promotion. MoneyLion is not responsible for incorrect entry or other failure on the individual’s part to meet the standards for qualifying for the promotion or any incorrect entry or other failure on the part of the individual’s employer, payroll service provider or any other third party involved in activating the direct deposit. This promotion may not be valid with other offers and is non-transferrable. MoneyLion reserves the right to terminate this offer at any time and to refuse or recover any matching contribution if MoneyLion determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in signing up for a MoneyLion membership, opening a MoneyLion Checking Account or activating direct deposit into the individual’s MoneyLion Checking Account, that any rules or regulations would be violated, or that any terms of any of MoneyLion’s client membership agreements have been violated. MoneyLion membership and the MoneyLion Checking Account and MoneyLion Investment Account are subject to agreements with MoneyLion, its affiliates and partners. Visit https://www.moneylion.com/terms-and-conditions for more information and for additional terms and conditions. These terms and conditions are subject to change, modification, or cancellation.

MoneyLion Checking Account provided by Lincoln Savings Bank, Member FDIC.

Investment Accounts managed by MoneyLion affiliate ML Wealth, LLC, and they 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.

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