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Lending Club Checking Account Review

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Founded in 2006, LendingClub digital marketplace bank that offers a wide range of personal finance products. The company's interest- bearing checking account features no monthly fees, free ATM transactions worldwide, early direct deposit, and cash-back on purchases. The LendingClub checking account has earned "best checking account" awards from CNet, Bankrate, and NerdWallet. LendingClub is located in San Francisco, California.
 
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How is Lending Club rated?

Breakdown

4.3/5
Account Features
4.3/5
Fees and Restrictions
4.3/5
Support, Reputation, and Financials

Overall Rating: 4.3 / 5 (Excellent)

LendingClub's checking account is a robust product that offers a great many features for free. With no minimum balance requirement, no monthly maintenance charge, free ATM transactions worldwide, ample options for integrating external accounts, and a great deal of transaction flexibility, the LendingClub checking account is a great value.

When you use the LendingClub app, you can see all of your linked accounts in one comprehensive dashboard. The app also includes personal finance analysis and tracking tools to help customers take better control of their finances.

Lending Club Account Features

Account Features - 4.3 / 5

LendingClub's checking account is a low-cost product with no monthly service fee, no minimum balance requirement, and unlimited free deposits and withdrawals. The company reimburses customers for any fees they're assessed when using out-of-network or foreign ATMs.

LendingClub customers can access their accounts online or via the company's mobile app. The company offers various deposit methods, including mobile deposit, transfer from a linked account, ATM, and mail. You can link a wide range of external accounts to your LendingClub checking account, including brokerage and retirement accounts. The LendingClub mobile app also includes various tools for budgeting, expense, debt, and net worth tracking, and more.

LendingClub accounts are FDIC-insured.
Types of Checking Accounts
Free Checking Accounts
Online Checking Accounts
Methods of Deposits
Mail Check
ATM Deposit
Mobile Check Deposit
Wire Transfer
Online Transfer
Direct Deposit
Integration with Other Online Accounts
Savings
Brokerage Accounts
Retirement Accounts
College Savings Accounts
External Banks
Loan Accounts
No-Fee ATM
No-Fee at Network ATMs
Reimbursement for International ATMs
Branch Offices
LendingClub is an online platform. The company doesn't operate physical branches.

Interest (APY)

LendingClub checking accounts earn interest. Rates vary.

Overdraft Protection

Overdraft protection is provided when you link other external accounts to your LendingClub checking account.
Integration with Mobile Payment Services
Venmo
PayPal
Apple Pay
Google Pay
Pay Bills Online
Yes
Bank Checks
No
Mobile App
Yes

Lending Club Fees and Restrictions

Fees and Restrictions - 4.3 / 5

LendingClub checking accounts have few restrictions or fees. The company doesn't charge a monthly service fee or require customers to maintain a minimum balance. ATM transactions are free worldwide: the company refunds any fees customers might have to pay to use foreign or out-of-network ATMs
Maintenance Fee
0
Minimum Balance
0
Minimum Monthly Deposit
0
Minimum Number of Transactions
0

Lending Club Support, Reputation, and Financials

Support, Reputation, and Financials - 4.3 / 5

LendingClub is currently not rated by the Better Business Bureau but earns 4.5 out of 5 stars from users who rate the organization on the BBB site. The company receives 4.8 out of 5 stars on Trustpilot, which is impressive for a company that also provides personal loans and other types of credit. LendingClub has also earned "best checking account" awards from various organizations that rate financial products.

You can chat with a live customer representative—not just a chatbot—on the LendingClub website. The representative we chatted with was knowledgeable and prepare to answer several questions.
BBB Total Complaints
492
Trust Pilot Rating
4.8 out of 5
Consumer Financial Protection Board (CFPB) Complaints
40
Date Collected
2021-07-16
Year Founded
2006
Live Help 24/7
No
Customer Support Hours
Mon-Fri 6am-5pm Pacific Time, Sat 8am-12pm Pacific

Contact Methods

  • Live Chat
  • Physical Mail
  • Phone
  • Email

Company Profile

Full Name
Lending Club Checking Account

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