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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Moves's application

Finanso.Multilogin™

How to apply

You must meet the following requirements to open a spending account with Moves:

  • You are a Canadian citizen residing in Alberta, Ontario, or British Columbia.

  • You are 18 years of age or older.

  • You have been approved for a Moves spending account.

  • You have moved your direct deposits for your gig apps to your Moves spending account.

  • You work for a gig platform that is supported by Moves.

  • You have deposited an average of at least $100/week from a supported gig platform to your Moves spending account within the last four weeks.

  • To qualify for a cash advance, you must have at least $400 in gig deposits in the last 28 days to receive advances starting at $100. The more Gig earnings you deposit, the higher the Cash Advance amount you can qualify for.

You can check your eligibility yourself by looking at your gig deposit trend.

You will be notified in the app if you need to provide additional documents. It can be your ID document, utility bill, etc. You just have to follow the instructions and wait for approval.

Application details

Moves states that it takes 1-3 business days for your Moves Spending Account request to be reviewed and approved. However, if the case requires more time or there are more documents to review, the review may take longer. For example, if Moves requires additional documents to verify your identity. To stay up to date, you should log in to the Moves app to check the status of your application. If you do not notice in the app that Moves requires additional documents, you will receive a reminder to your contact email as a precaution.

Moves business hours are Monday through Friday from 9:30 am - 8:30 pm ET. E-mails are typically responded to within one business day. However, if you email your issue during the weekend or holidays, Moves will respond on the next business day.

Moves does not give specifics on the reasons for rejection, but considering their rules, there could be a problem if you provided false information or if you previously had an account but closed it, and you are now trying to reopen it when you did not provide the requested documents;

if you do not pay your installments on time, you may not be able to get a new loan until you settle your outstanding debt with Moves. If you need more information, feel free to contact Moves customer support through any of the channels offered by Moves.

How to apply for a loan

Your application begins by downloading an application and creating your account with Moves, providing your personal information, and submitting your cash flow. Based on the information provided and your income history, Moves calculates the potential cash advance amount. Once you have this available and need it, you can use it within the repayment plan. Moves provides a loan calculator where you can see the exact cost of the money borrowed. There are no surprises with hidden fees.

There are no penalty interest rates. With a Cash Advance from Moves, there are no processing fees and interest rates (i.e., no APR or AIR). Instead, we deduct a portion of your future earnings in exchange for the Cash Advance we provide, similar to a service fee. The service fee is 3.5%.

FAQ

How long does it take to get approved by Moves?

Moves does its best to provide quick approval, but it takes careful analysis of the information provided to decide.

It generally takes 1-3 business days for your Moves spending account application to be reviewed and approved. Some applications may take longer to process if they need additional documents to verify your identity. You can log into the Moves app at any time to check the status of your application. If Moves requires other documents, you will see this in the app and receive an email notification.

If you are already approved and meet the requirements of Moves, you can receive a cash advance almost immediately.

How trustworthy is Moves?

Moves is an official company that offers services such as accounts, cash advances, and equity rewards programs in partnership with Blue Ridge Bank N.A., member of the FDIC. The Moves Financial Visa® Debit Card is issued by Blue Ridge Bank N.A. under a license from Visa U.S.A. Inc. and can be used anywhere where Visa debit cards are accepted. In addition, moves Financial provides cash advances. Blue Ridge Bank provides banking services N.A., and Brokerage services and products are supplied through Bumped Financial LLC, member FINRA/SIPC.

Does Moves verify income?

Moves requires your income history to calculate and approve your limit. The amount can range from $100 to a maximum of $1,000. The income during the last four weeks is analyzed for the decision. 

You can see the maximum amount automatically approved for you in the Moves app. The advance is calculated based on the average weekly gig income you deposit into your Moves spending account.

Does Moves hurt your credit score?

According to the information available, Moves does not work with debt collector credit bureaus. It confirms the information on the company's website. Moves does not perform credit checks or share information about your repayment problems. As a Moves borrower, you cannot improve or worsen your credit score.

Calculate loan payments in Moves

Moves calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

CAD
CAD
USD
100 $
1000 $
Loan term
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Specify the loan term for the calculation

days
months
30
90

What to pay attention to when applying for a loan from Moves

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Moves from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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