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MoneyLion gives a paycheck advance to customers who display a historical past of standard direct deposits from their employer. There’s no necessary charges for this carrier, and advances are repaid routinely in your subsequent payday.
On this evaluation, I duvet how the MoneyLion app works, what it prices, who qualifies and the way it compares to equivalent money advance apps.
⚠️ Prior to you borrow
Money advance apps can look like a snappy and simple option to get cash. However since maximum apps rate charges, you’ll most likely finally end up owing greater than you at the beginning borrowed. It will entice you in a cycle of repeat borrowing that’s exhausting to damage.
At a look: MoneyLion app money advance
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Quantities to be had |
$10 to $500 (as much as $1,000 for some MoneyLion customers) |
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Loose supply |
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Categorical supply timing and costs |
Immediately to an exterior or RoarMoney account: $0.49 to $8.99 |
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Necessary charges |
No necessary charges |
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Eligibility necessities |
Should display 60 days of historical past and a minimum of 3 habitual direct deposits from the similar employer on your bank account |
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Compensation |
Routinely withdrawn at the date MoneyLion determines to be your subsequent payday |
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State availability |
Undisclosed |
MoneyLion works through supplying you with an advance in your paycheck as much as $500. This option is referred to as MoneyLion Instacash.
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You’ll first wish to obtain the MoneyLion cell app and create an account along with your e mail deal with. You’ll be requested to hyperlink your number one bank account.
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After soliciting for an advance, you’ll obtain the finances in a single to 5 industry days, relying on the place you’ve the cash deposited.
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When you’ve got a RoarMoney account (MoneyLion’s model of a bank account), it will take as much as two industry days. For an exterior bank account, it will take as much as 5 industry days.
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If you wish to have the cash quicker, you’ll be able to pay a “turbo supply” rate, and the cash shall be deposited within the account of your opting for inside mins.
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You’ll then pay off the improvement quantity, plus any charges or guidelines, at the date of your subsequent payday.
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You’ll be able to request a later fee date or defer fee for as much as two weeks. Deferment is authorized as soon as according to reimbursement cycle.
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In the event you don’t find the money for on your account, MoneyLion will strive partial reimbursement, chickening out what you’ve to be had till you’re stuck up. You gained’t have the ability to use Instacash once more till your advance is totally repaid.
Shoppers can get right of entry to greater advances in the event that they choose into different MoneyLion merchandise. For instance, should you upload a MoneyLion credit score builder mortgage with disbursement, you’ll be able to stand up to $700. In the event you transfer your direct deposits to a RoarMoney account, you’ll be able to stand up to $1,000.
How a lot does MoneyLion value?
MoneyLion Instacash doesn’t have any necessary charges.
If you wish to have the improvement finances straight away, you’ll pay a turbo transportation charge starting from $0.49 to $8.99. The quantity depends upon the scale of the improvement and the place you wish to have the cash deposited. Smaller advances deposited in a RoarMoney account have the bottom turbo charges.
MoneyLion requests an non-compulsory tip for its carrier, which no longer all money advance apps do. NerdWallet recommends averting tipping for a money advance with a view to cut back prices.
🤔 What does that truly value?
MoneyLion is a sound monetary products and services corporate. Right here’s what we all know:
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On the time of scripting this evaluation, MoneyLion isn’t accepted through the Higher Industry Bureau.
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The MoneyLion app is rated 4.5 stars on Google Play (212,000 opinions) and four.8 stars at the App Retailer (309,000 opinions).
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In November 2025, the Client Monetary Coverage Bureau reached a $1.75 million agreement with MoneyLion after accusing the corporate of violating the Army Lending Act , which basically protects servicemembers from high-interest loans.
Regardless that MoneyLion has most commonly sure opinions at the app shops, the new penalty from the CFPB is value noting, specifically for servicemembers.
Who qualifies for MoneyLion?
To qualify for MoneyLion Instacash, you’ll wish to meet the next necessities:
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Should be a United States resident.
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Should be a minimum of 18 years outdated.
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Should supply your complete felony title and feature a legitimate and distinctive e mail deal with.
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Should open a RoarMoney Call for Deposit Account or hyperlink an exterior bank account and related debit card for your Instacash account.
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The exterior bank account should be a minimum of 60 days outdated, obtain common source of revenue deposits and be registered on your title.
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Should display a minimum of 3 habitual direct deposits from the similar employer on a constant time table (weekly, biweekly, semi-monthly or month-to-month).
Identification verification could also be required, so MoneyLion suggests preserving a photograph ID close by. You might also wish to snap an image of your self.
🤓 Nerdy Tip
To maximise your Instacash prohibit, you will have to care for a favorable stability on your related checking account and pay again all earlier Instacash advances in complete and on time (that means through the unique due date).
Execs and cons of the usage of MoneyLion
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Gives huge advances: MoneyLion’s money advance quantities might let you pay for a big sudden expense. Customers with an exterior bank account can get right of entry to as much as $500, however should you open a RoarMoney account, it’s good to qualify for as much as $1,000. This most is upper than maximum of MoneyLion’s competition.
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No necessary charges: In contrast to different money advance apps, MoneyLion has no necessary charges, so that you gained’t pay anything else additional to obtain a portion of your paycheck early. The one rate is an non-compulsory Turbo transportation charge, which you’ll be able to steer clear of through opting for the usual supply possibility.
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Disbursement limits: Along with your general advance prohibit, MoneyLion imposes a disbursement prohibit, which is the amount of cash you’ll be able to request at one time. Your disbursement prohibit could also be lower than your advance prohibit, so that you’ll need to make a couple of requests. For instance, in case your general credit score prohibit is $300, however your disbursement prohibit is $150, you would have to take out two advances to get the entire $300. If you wish to have the cash straight away, this will increase the fee, because you’ll pay Turbo supply charges on each.
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Gradual investment time: In the event you hyperlink an exterior bank account to get an Instacash advance, MoneyLion might take as much as 5 industry days to deposit the cash on your account. That is for much longer than different money advance apps, which generally tend to vow finances in a single to 3 days, even with an exterior account.
MoneyLion vs. EarnIn vs. Brigit
Evaluate MoneyLion to different money advance apps like EarnIn and Brigit, which fund advances sooner, however can have different drawbacks.
Brigit gives advances as much as $500, additionally with sooner investment than MoneyLion. However you’ll pay a dear club rate until you e mail Brigit to choose out.
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MoneyLion |
EarnIn |
Brigit |
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Max advance |
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Necessary charges |
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Loose supply |
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Categorical supply |
Possible choices to the usage of MoneyLion
There are alternative ways to get fast money but even so doing away with a money advance.
Discover alternative ways to earn money: As a substitute of borrowing cash, imagine a short lived gig to hide small gaps on your price range. You’ll be able to earn money at house or on-line through promoting stuff you don’t want, taking surveys and trying out web sites, amongst different choices.
Obtain a BNPL app: If you wish to have money to buy an very important merchandise, like a computer or bed, “purchase now, pay later” apps like Confirm and Klarna could also be a just right possibility. Those apps break up your acquire into smaller installments, most often and not using a curiosity and no charges should you pay on time, and also you don’t want just right credit score to qualify.
Take out a chum or circle of relatives mortgage: Family and friends are continuously an untapped useful resource for small loans. Regardless that it can be tough to invite for lend a hand, you’ll be able to make it more uncomplicated through drawing up a freelance that obviously lists while you’ll pay off the mortgage and should you’ll pay curiosity.
Believe a pawnshop mortgage: A pawnshop mortgage permits you to borrow cash through the usage of a precious merchandise, like jewellery or electronics, as collateral. You permit the article with the pawnshop and obtain a mortgage in response to the article’s worth. In the event you pay off the mortgage, together with charges, through the due date, you get your merchandise again. In the event you don’t pay off, the store helps to keep the article.
Continuously Requested Questions
What’s MoneyLion Instacash?
Instacash is a money advance product presented through the cell app MoneyLion. It permits you to borrow as much as $500 in your subsequent paycheck, with unfastened supply in a single to 5 industry days. If you wish to have sooner investment, you’ll wish to pay a rate as much as $8.99. Some MoneyLion customers can have get right of entry to to money advance quantities as excessive as $1,000.
Does MoneyLion do a credit score test?
MoneyLion doesn’t do a credit score test for its Instacash product. It additionally doesn’t document Instacash reimbursement to the credit score bureaus, so there’s no impact in your credit score rating.
Does MoneyLion paintings for gig employees?
So long as you display constant source of revenue from the similar employer, MoneyLion might approve gig employees for an Instacash advance. This source of revenue should be immediately deposited on your checking account on an ordinary time table, that means weekly, biweekly, semi-monthly or month-to-month.
What’s the distinction between MoneyLion Instacash and a MoneyLion Credit score Builder mortgage?
MoneyLion Instacash is a money advance product that permits you to borrow out of your upcoming paycheck. A MoneyLion credit score builder mortgage is one of those installment mortgage that reserves some or the entire mortgage finances in a separate account till you’ve paid off the mortgage. Then, any last mortgage finances and curiosity are distributed for your checking account. Your mortgage bills also are reported to the credit score bureaus, which will let you construct your credit score rating.
What occurs if you’ll be able to’t pay off MoneyLion on time?
MoneyLion doesn’t rate curiosity or charges if you’ll be able to’t pay off an Instacash advance. Alternatively, you’ll lose get right of entry to to the carrier till you’re stuck up. If you wish to have extra time, MoneyLion gives the way to both trade your fee due date or defer fee for as much as two weeks.
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