What is MoneyLion cash advance?

Yes, MoneyLion offers cash advances up to $500 with their Instacash service, and up to $1,000 if you become a RoarMoney customer with qualifying direct deposits. There are no monthly fees, interest charges, or credit checks. They expect you to repay the advance when you get your next paycheck, but there are no interest or late payment fees. The free standard delivery transfers the money to your RoarMoney account in 1–2 business days or to your external bank account in 2–5 business days. If you need the money instantly, you can use their Turbo delivery option for a fee between $0.49 and $8.99, depending on the amount and where you're sending it.

Some of the MoneyLion cash advance requirements include:

1. MoneyLion account: Be a registered user with a verified identity matching your bank account and public records.
2. Active checking account: Have a personal checking account in your name that's been open and active for at least 60 days, showing regular use and a positive balance. Note that savings or money market accounts don't qualify.
3. Regular income: Receive at least three recurring direct deposits from the same source on a consistent schedule (weekly, biweekly, semi-monthly, or monthly). This includes paychecks, government benefits, pensions, or income from freelance work.
4. Good standing: Ensure all previous Instacash advances and any associated fees are fully repaid. If you're a Credit Builder Plus member, you should have no late or missed loan payments.
5. No credit check: Your credit score isn't a factor—MoneyLion doesn't require a credit check for Instacash advances.

Once you meet these criteria, MoneyLion will determine your eligibility and set your Instacash advance limit, which can be up to $1,000. Alternatively, being approved for a Credit Builder Loan with an upfront disbursement may automatically qualify you for Instacash advances.

In addition to Instacash advances, MoneyLion provides several other features that might be useful to you.

RoarMoney Account

Opening a MoneyLion RoarMoney account can unlock extra benefits. This checking account allows you to receive your funds faster, with standard Instacash advances delivered to your RoarMoney account in 1–2 business days for free. You can also increase your Instacash limit up to $1,000 by setting up qualifying recurring direct deposits. Plus, choosing a RoarMoney account can help you save on Turbo delivery fees when you need instant access to your cash.

Boosting Your Instacash Limit

If you need more than the standard advance, MoneyLion offers options to increase your Instacash limit. Aside from setting up direct deposits to your RoarMoney account, you can participate in actions within the app and take advantage of promotions to temporarily raise your limit. There's also a Peer Boost feature, where you can team up with friends to boost each other's limits—a handy way to get more funds when you need them.

Flexible Repayment Options

Repaying your advance is straightforward with MoneyLion. Your repayment is automatically scheduled to align with your next paycheck or direct deposit date, but you can also choose to make one-time repayments whenever it suits you. Since MoneyLion doesn't charge interest or impact your credit score, you can manage repayments without added pressure.