The answer is Yes. B9 is a legitimate financial technology company. It partners with Evolve Bank & Trust, a member of the Federal Deposit Insurance Company (FDIC), to provide banking services and debit cards. This means that the money in your B9 account is insured up to the $250,000 standard for any checking account.
B9 is a great powerful app for people who don’t like all the hiding fees or overdraft fees..its an easy app to use and if u have any problems they are there to help.
Are you wondering is b9 legit? If you are looking for a safe and secure alternative to predatory lenders, then this Fintech startup might be right for you. Here are some benefits of this service.
This company has an FDIC-insured bank account. All customer information is protected with PCI-DSS encryption. Interested customers should read the reviews and FAQs carefully. If you are looking for an advance on your paycheck or want to make regular transfers of money, then you should definitely check out B9.
Fintech startup
If you’re wondering whether B9 is a scam or legit, you have come to the right place. With a growth rate of nearly 10x per month, the fintech startup has achieved a lot in a short span of time. In fact, the company has successfully deposited paychecks from over 1,500 different companies including Amazon, Lyft, Uber, DoorDash, Instacart, and Walmart.
While it may be hard to believe, it’s true that B9 has only been around for a month. In that time, it has attracted a large number of customers – more than 60,000 in the first quarter of 2019 and 3x growth in new customer transactions in a single month. And, since customers are primarily under 35, the company’s target market is estimated at around 150 million people. Moreover, the company’
B9 is a fintech startup that recently launched a full suite of app-based financial services. These services are targeted at unbanked customers, including low-income families, first-generation immigrants, and people with low incomes.
Its innovative technology uses artificial intelligence (AI) to build a comprehensive portrait of economic behavior and trustworthiness. Its proprietary BnineScore also helps consumers build a credit history and gain access to more products and services.
B9 App Features
B9 offers the following features in addition to pay advances:
- FDIC-insured checking account
- Visa debit card to access checking account funds
- No overdraft fees on checking account
- Unlimited money transfers with no fee
- Customer service available in English and Spanish
B9 App Requirements
To qualify for a B9 pay advance, you must meet the following requirements:
- Active B9 checking account with direct deposit from your employer
- Monthly salary of at least $500
- Social Security number or Individual Tax Identification Number
- Residential mailing address in the US
- Government-issued photo ID
B9 will contact you via the app, SMS, or email as soon as you’re eligible to receive an advance. This advance may not be available in all states.
Alternative to predatory lenders
An Alternative to predatory lenders is a viable financial solution that empowers people to manage their finances and avoid being victimized by predatory lending. In the wake of the Predatory Loan Prevention Act, which took effect on March 23, 2019, many companies and nonprofits have entered the market to offer affordable and fair financing options.
According to the Financial Health Network, over $170 billion is lost each year to bank fees and interest rates. But a new business model may have just what the market needs to combat this growing problem.
One such alternative to predatory lenders is a credit card cash advance, which typically has an annual percentage rate of 30% or less. A credit card cash advance is a better option than a payday loan because it is much cheaper.
Besides, some credit card companies cater to consumers with bad credit histories or financial difficulties. You should shop around and research alternatives before choosing a card. These companies specialize in extending credit to people with a history of financial troubles.
In order to qualify for a loan, predatory lenders usually require that borrowers pledge a valuable financial asset, such as home equity or an automobile ownership title. If a borrower does not pay on time, the lender will keep their asset as collateral. In other words, if you default on a loan, you will be forced to pay more money in fees and interest. While this is unfortunate, there are alternatives to predatory lenders.
Worth it if you need an advance on your paycheck or regularly make money transfers
Paycheck advances are becoming an increasingly common way to access money. The number of these transactions rose to 55.8 million in 2018 and 18% in 2017. The Consumer Financial Protection Bureau estimates that one in five households have less than two weeks’ worth of savings.
Though the industry has been growing rapidly, it still doesn’t have enough regulation to protect vulnerable workers. Read on to learn more about how paycheck advances work and whether they’re worth it for you.
Do you get paid early with B9?
B9 can provide up to $500 in cash advance with no credit check and no interest. Get your paycheck early so you can pay bills, get cash, or transfer money!
How do I put money on my B9 card?
Options to add money to your B9 account:
- Setup payroll deposit to your B9 account.
- Add money instantly from the external card (only US debit cards are accepted). Check out Adding an external card to B9 Wallet.
- Internal transfer from another B9 member (instant)
- ACH transfer to B9 account (up to 72 business hours)
Does B9 work with plaid?
Plaid deposit switch – B9. Both SSN and ITIN are accepted in order to open your B9 account. You can easily connect B9 to any payroll platform to set up your direct deposit with B9.