Why do I need to connect my bank?
To lend or borrow using SoLo we require your bank as well as debit card information.
We use the bank account information for balance checks, account history, and age. We may use this information to contribute to our SoLo Scoring. The debit card is used to facilitate the actual transactions. Please note, we do not store your banking credentials or debit card data.
Note: At this time, we do not accept Chime or Simple bank accounts.
If you have any questions or concerns, please reach out to our support team for further assistance.
Related Articles
What if my bank is not listed on the app?
We are always working to add more banks as we grow. If your bank is not listed we may not support them at this time. Check back again soon! Unfortunately, SoLo is not supported by Chime or Simple Bank. To use SoLo, you will need to use an account ...
Add or Change Bank Information
You can only add your banking credentials upon sign up. Once your bank has been added it can not be changed. Please keep in mind that you always have the option to change your debit card on the app. At this time, we do not accept Chime or Simple. ...
Why do you need my Social Security Number?
Your Social Security number (SSN) is a unique way to identify you. Please rest assured that we only use it for the purpose of verifying your identity in an effort to mitigate fraud and to assist our prediction of creditworthiness. We take the safety ...
What type of debit cards are accepted?
Below, is a list of requirements for debit cards on the platform: Must be a debit card issued to you by your bank. Credit cards and prepaid debit cards are not accepted. Even if your credit card can be used as a debit card. Debit cards must have both ...
How can I change the information on my submitted loan request?
Once your loan is placed into the marketplace you will have to cancel the loan entirely and create another loan to reflect the new information. If you need assistance, please reach out to our support team for further assistance.