The Loans Canada team sits down with Gary Schwartz of the Canadian Lenders Association to talk about open banking.
Moves Financial Reviews, Ratings And Fees September 2021
Over the last decade, the gig economy has exploded. This includes “gigs” ranging from rideshare drivers to freelance designers and general labourers. The gig economy has provided people everywhere with new opportunities to pursue their independence, achieve work-life balance, and earn good money while doing it.
But these opportunities come with their own challenges. Independent workers are responsible for buying and maintaining their own equipment and are not provided with the same financial security as salaried employees. This means there’s a level of financial uncertainty for gig workers today that can make the pursuit of independence seem daunting.
Overlooked or ineligible for products offered by traditional financial institutions, this rapidly expanding demographic needs modern financial products designed to support them on their paths to career fulfillment.
Where Moves Fits In
Moves is the first financial services platform specifically for independent “gig” workers. Without relying on outdated credit scores, their products are designed so that they can get to know their customers better over time and help them establish a new financial reputation.
Using innovative financial technology, Moves offers up to $2,500 in low-interest loans (with no early repayment fees) to independent workers that traditional banks and credit scores disqualify from financial services. With Moves, you can apply with three short steps and save up to an estimated $600 compared to other financing.
Moves Loan Application Process
- Submit an application. Moves’ easy to maneuver online application can be completed from the comfort of your home. As part of your application, you will need to connect your bank account to Plaid, a third-party service owned by Visa. This service will allow Moves to check out your banking transactions for the last 24 months. This is the information they will use to assess your application.
- Wait for approval. Once submitted their automated system will approve you within 15 minutes or it will flag your application for a manual review. Either way, you’ll have your response within one business day.
- Get funded. Once approved your funds will be automatically deposited into your bank via Pre-Authorized Debit, which you’ll agree to when you connect your bank account through Plaid.
What type of workers can qualify with moves?
- Skip the Dishes
- Uber Eats
Does Moves offer loans across Canada?
Does Moves check credit and will applying for a loan with them affect my credit score?
I don’t work for a rideshare company, can I still apply for a Moves loan?
Rate & Terms
Requirements & Documents
|$500 - $2,500|
|(Available only in Toronto)|
Is Moves Financial legit or a scam? See what others have to say.
Great experience, great service.
Great trustworthy company helping gig workers!
Great for independent workers who are usually overlooked by banks.
Very easy process to understand, and helpful team.
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