MoneyLion App Review

MoneyLion’s Instacash service offers users access to cash advances of up to $500, with some eligible for up to $1,000. These advances let you tap into pay you’ve already earned without interest or mandatory fees. You can choose how much to borrow and how quickly you want the funds, with options ranging from free standard delivery in 1–5 business days to expedited Turbo delivery within minutes for a fee.

Repayment is generally aligned with your next paycheck and is automatically withdrawn, though you may be able to defer payment or request a later date. The app also includes budgeting tools and ways to increase your borrowing limit, such as setting up recurring direct deposits or using a MoneyLion Spend or RoarMoney account. Eligibility requires being a U.S. resident 18 or older, having a qualifying checking account with regular deposits, and being in good standing with MoneyLion.

Should you use MoneyLion?

• [[+]]Higher advance limits: You can borrow up to $1,000, which is more than many other cash advance apps offer.

• [[+]]Fast access: Get your money the same day or within minutes if you choose expedited delivery.

• [[+]]Flexible repayment: Repayments align with your paycheck schedule, and you may be able to defer payment for up to two weeks.

• [[+]]Multiple delivery options: Funds can be sent to an external bank account, debit card, or MoneyLion’s own accounts.

• [[+]]Boost borrowing power: You can increase your advance limit by setting up direct deposits, using a RoarMoney account, or participating in promotions.

• [[+]]Budgeting tools: The app includes features to help you manage your money and stay on track.

• [[-]]Fees vary: While standard delivery and access are free, expedited delivery and some disbursement methods come with fees up to 9% or a capped amount.

• [[-]]Membership cost: The optional WOW Membership costs $9.99 per month, which may not be worth it if you only want occasional advances.

• [[-]]Eligibility requirements: You need a qualifying checking account with recurring deposits and a positive transaction history, which may exclude some users.

MoneyLion could be a fit if you want quick access to larger cash advances and are comfortable with the eligibility criteria and potential fees. If you prefer no-fee advances or have irregular income, it might not be the best choice.

To qualify for a MoneyLion cash advance, you need to be a U.S. resident at least 18 years old and pass identity verification with matching public and bank records. You must have a checking account in your name that’s at least 60 days old, with recurring direct deposits or regular income deposits. Your MoneyLion account should be active, in good standing, and have a positive balance with usable transaction history. If you’ve taken Instacash advances before, make sure any previous advances and fees are fully repaid. Credit Builder Plus members must also stay current on their loan payments.

With MoneyLion, you can get your cash advance within minutes if you choose the Turbo delivery option, which comes with a fee that varies based on the advance amount and destination. If you opt for the standard transfer, the money will arrive in 1 to 5 business days at no extra cost. Funds can be sent to an external bank account, debit card, or MoneyLion’s own Spend or RoarMoney accounts.

With MoneyLion, you generally repay your Instacash advance on or after your next paycheck or direct deposit date. The repayment is automatic and taken from your authorized payment account or debit card. You can also request to delay repayment for up to two weeks or change the payment date, usually with a few days' notice. There’s no interest or mandatory fees, and partial payments may be made if funds are low. Keep in mind, you won’t be able to get a new advance until your current balance is fully paid.

Besides cash advances, MoneyLion offers a few other features that can help you manage your money better.

Early Pay Access

You can get your paycheck up to 2 days early, which can be handy if you need funds before your usual payday.

Flexible Borrowing Options

The app lets you see your available Instacash limit, choose how much you want to borrow, and pick how quickly you want the money delivered. You can get funds the same day or within minutes with expedited delivery, or opt for free standard delivery in 1–5 business days.

Repayment Flexibility

Repayments are automatically withdrawn based on your paycheck schedule, but you may also be able to request a later payment date or defer repayment for up to two weeks.

Ways to Increase Your Limit

You can increase your borrowing power by setting up recurring direct deposits, using a RoarMoney account, or participating in in-app promotions. The app also offers Boosts and Peer Boosts that temporarily raise your available limit.

Budgeting Tools

MoneyLion includes budgeting and money management tools to help you keep track of your spending and stay on top of your finances.