The service will provide an on-demand deposit account with access to interest-free cash advances, cashback rewards, and Tap&Go contactless payments. It is backed by MetaBank, a strategic investor in MoneyLion.
According to Mobile Payments Today, the RoarMoney account costs USD 1 a month, however, it has no monthly minimum balances or other hidden charges. Customers also have no-fee access to more than 55.000 ATMs.
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