Neo-Bank
Rating by Finanso®
i

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.

Bnine

Advertiser Disclosure

About Company

B9, a financial service, provides an opportunity for individuals to access their wages in advance. With a focus on simplicity and accessibility, B9 offers the convenience of obtaining up to $500 without the hassle of a credit check. The process involves a straightforward fee structure, ensuring transparency and ease of use. This innovative approach to early wage access caters to the needs of users, allowing them to manage their finances in a timely manner without the complexities associated with traditional banking.

B9

Key Features

  • No Credit Check. B9 prioritizes accessibility by eliminating the need for a credit check, providing users with an opportunity to access funds without the constraints of a traditional credit assessment.

  • No Late Fees. Users can benefit from B9 without the worry of late fees, contributing to a stress-free and transparent financial experience.

  • Rapid Fund Disbursement. B9 ensures swift access to funds, with users receiving the requested amount in just a matter of minutes. This quick turnaround time enhances the service's effectiveness in addressing immediate financial needs.

  • No Minimum Balance Requirement. B9 promotes flexibility by not imposing a minimum balance requirement, empowering users to manage their finances without constraints on their account balances.

Pros and Cons

Pros

Up to 100% Paycheck Advances. B9 offers the advantage of accessing up to 100% of your paycheck in advance, providing users with a substantial portion of their earnings when needed.

Instant Advance with No Advance-Related Fee. B9 stands out by providing an instant advance without any additional advance-related fees, ensuring transparency and simplicity in the financial transaction.

Up to 5% Cashback. Users can enjoy the additional benefit of earning up to 5% cashback, adding a rewarding element to their financial transactions.

Cons

Up to $19.99 in Monthly Membership Fees. B9 introduces a potential drawback with monthly membership fees, with users facing a cost of up to $19.99. This fee structure may impact the overall affordability of the service.

Minimum $500 Direct Deposit Requirement. Users must receive at least $500 via direct deposit to their B9 account, which could be a limitation for those with lower income levels or irregular pay schedules.

Few Additional Features. B9 may lag behind some competitors in terms of additional features, potentially limiting its appeal for users seeking a broader range of functionalities in a cash advance app.

Reliability

Yes, B9 is considered reliable as it provides an additional layer of security and assurance for users. Your funds with B9 are FDIC insured up to $250,000 through Evolve Bank and Trust, an FDIC member. This FDIC insurance ensures that in the unlikely event of a bank failure, your deposited funds are protected, adding a level of financial security and reliability to the services offered by B9.

Products

B9 primarily offers cash advances, allowing users to access a portion of their full paycheck up to 15 days early and Visa Cards. Additionally, B9 provides everyday banking services for routine financial management and facilitates instant transfers between B9 members.

B9 Visa Card

The B9 Visa Card provides users with the flexibility to personalize their cashback experience. Users can select up to four merchant categories that align with their spending preferences, and cashback rewards are deposited by the 5th of the following month. To initiate cashback earnings, users need to spend at least $200 within the chosen categories each month. Issued by Evolve Bank & Trust under a Visa license, the B9 Card's rewards system is managed by B9, not Evolve Bank & Trust. Cashback percentages, ranging from 0.5% to 5.0%, are contingent on the selected merchant category codes and may vary monthly and annually based on users' aggregate spending within eligible categories. All B9 Debit Card holders are eligible for cashback rewards upon meeting the minimum monthly spending requirements.

Other credit cards

Other services B9 offers

  • Cash Advances. B9 provides users with the option to access a portion of their full paycheck up to 15 days early through its cash advance service.

  • Everyday Banking. B9 provides users with everyday banking services, allowing them to manage their finances, monitor transactions, and conduct routine banking activities through their B9 account.

  • Instant Transfers Between B9 Members. Users can enjoy the convenience of instant transfers between B9 members. This feature enhances the speed and efficiency of financial transactions among B9 users.

Conditions and Requirements

Conditions

  • Fee Structure. B9 charges a single monthly subscription fee for cash advances. There are no additional express fees, optional tips, or interest charges associated with the advances.

  • New Customer Limit. If you are a new B9 customer, your maximum advance limit won't exceed $100 initially.

  • Subscription Plans. Basic Plan is priced at $9.99 per month, it allows advances up to $100 and includes a B9 Visa Debit Card with up to 5% cashback. The Premium Plan is priced at $19.99 per month, it permits advances up to $500. It includes the B9 Visa Debit Card with up to 5% cashback and additional features to monitor credit reports and scores. For new B9 customers, the maximum advance limit starts at $100.

  • Cashback Rewards. B9 provides cashback rewards of up to 5% on chosen categories, ranging from 0.5% to 5.0% based on selected merchant category codes. Users start earning cashback once they spend $200 within the chosen categories.

Requirements

To use the B9 app, you will need to go through a straightforward onboarding process and provide the following information:

  • Valid US Phone Number. A functional and valid US phone number for account verification and communication purposes.

  • Your Email. An email address for account communication and verification.

  • Your Full Name and Date of Birth. Your complete legal name and date of birth for identity verification.

  • Your Full US Address. Your residential address in the United States.

  • Your SSN or ITIN Number. Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) for identity verification and compliance with financial regulations.

  • Your US Government-Issued Photo ID. A valid US government-issued photo identification, such as a US ID, US Driver's License, or US Passport. This is crucial for verifying your identity.

To be eligible for B9 and its Advance service, certain requirements must be met:

  • Good Standing. Your B9 Account must be in good standing. This means that your account is not overdrawn, suspended, or closed for any reason.

  • Positive Account Balance. Your B9 Account balance must be equal to or greater than $0 to qualify for the B9 Advance service. This ensures that you have sufficient funds to cover upcoming expenses or bills.

  • Recent Deposits. To be eligible for the B9 Advance service, your B9 Account must have received deposits within the last 14 days. These deposits can include payroll direct deposits, government benefits, tips, or employer wages and salaries. This requirement ensures a reliable source of income.

  • Timely Repayment. You must have paid back all previous cash advances within 15 calendar days to maintain eligibility for the B9 Advance service. This reflects a commitment to timely repayment and responsible use of the cash advance feature.

Network of ATMs

As of now, B9 does not provide access to free ATMs specifically designated for the B9 card. However, users can utilize any ATM that accepts VISA cards to withdraw cash using their B9 card.

It's essential to be aware that the B9 card is not compatible with contactless ATMs at the moment. While you can perform cash withdrawals with your B9 card, the capability to deposit cash or checks into ATMs using the B9 card is not available.

For information regarding ATM fees, users can refer to the specified section where fees for ATMs are outlined. Additionally, it's crucial to note that some ATM providers may impose supplementary fees, which will be deducted directly from the B9 account balance. Being informed about these details ensures users can make knowledgeable decisions when using ATMs with their B9 card.

Apps like B9

  • Dave is an app that offers cash advances, budgeting tools, and predictive alerts to help users manage their finances.

  • Brigit is a financial app that provides early wage access, budgeting tools, and overdraft protection to help users avoid fees.

  • Albert is a personal finance app that offers budgeting, savings, and investment features, providing users with holistic financial management.

  • MoneyLion is a financial platform that combines banking, investing, and credit-building services, catering to various aspects of personal finance.

Editorial Opinion

B9 presents itself as a membership-based cash advance app offering users the opportunity to access their paychecks up to 15 days in advance. The subscription-based fee structure, with options like the Basic and Premium plans, allows users flexibility in choosing a package that aligns with their financial needs. The absence of additional fees, tips, or interest on advances contributes to transparency in the cost structure. While B9 offers certain additional features, such as everyday banking, instant transfers between B9 members, and a Visa card, it's worth noting that it may provide fewer services compared to similar apps in the market. Users should carefully assess their financial priorities and needs to determine whether B9 aligns with their preferences and expectations.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 50 neo banks, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a neo bank. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

Sources

Reviews

FAQ

Is B9 legitimate?

Yes, B9 is a legitimate financial service. It offers cash advances, Visa cards, and other features. Users should review terms and conditions to determine if it aligns with their financial needs.

Can I borrow money from B9?

Yes, B9 allows users to access a portion of their full paycheck up to 15 days early through its cash advance service. Users can choose from different subscription plans with varying features and fees.

What are the subscription plans offered by B9?

B9 provides two subscription plans: Basic and Premium. The Basic Plan, priced at $9.99 per month, allows advances up to $100 with a B9 Visa Debit Card and up to 5% cashback. The Premium Plan, at $19.99 per month, offers advances up to $500, the B9 Visa Debit Card with cashback, and additional credit monitoring features.

What are the eligibility requirements for B9's cash advance service?

To qualify for the B9 Advance service, users must ensure their B9 account is in good standing, maintain a positive account balance equal to or greater than $0, receive recent deposits within the last 14 days, and have repaid all previous cash advances within 15 calendar days.

What cashback benefits are associated with the B9 Visa Debit Card?

With the B9 Visa Debit Card, users can enjoy cashback rewards of up to 5% on selected categories. The cashback percentages, ranging from 0.5% to 5.0%, are determined by the chosen merchant category codes. Cashback is earned once you spend $200 within the selected categories.

Company documents

Privacy Policy
Terms of Service

Open B9 Account and move your salary to get approved for a B9 Advance℠ in minutes. No credit check. No late fees.

© B9, Inc
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Bnine’s reviews by may 2024
Leave feedback
Similar companies
Re:start
5316 W US Hwy 290 Service Rd Ste 300, Austin, TX 78735
+1 (844) 651-0707
Serve
250 Williams Street 5th Floor Atlanta, GA 30303
+1 (833) 729-9646
Zeta
2261 Market Street #4718 San Francisco, CA 94114
Kikoff
75 Broadway Ste 226 San Francisco, CA 94111-1458
Aspiration
4551 Glencoe Ave #300 Marina Del Rey, CA 90292-7925
+1 (800) 683-8529