MoneyLion is best known for Instacash, a cash advance you can request without a credit check and without paying interest. You link a checking account, the app looks at your deposits and spending, and it offers you an advance against your next paycheck. The app also does banking, investing and credit building, but the advance is the reason most people download it.
This review covers what Instacash costs, how much you can realistically get, how repayment works, and who should skip it. The rest of the app gets a short rundown too.
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- The maximum advance is $500
- No interest. No monthly fee. No credit check
- Link your checking account to qualify for 0% APR cash advances
The $500 top amount applies when it can detect qualifying recurring direct deposits in the checking account you link. If you don’t have that, you may start with a smaller trial advance. The next section explains how that works.
Get the MoneyLion app and see what Instacash offers you.
What you get with MoneyLion
MoneyLion is a financial technology company, not a bank. The banking side runs through a partner bank, which comes up below. Here’s what the app actually includes.
Instacash cash advance
This is the core product. MoneyLion advertises advances up to $500, and says your limit is based on your direct deposits, account transaction history and other factors. The $500 isn’t a promise. It’s the ceiling for people with qualifying recurring direct deposits in the linked account.
If you aren’t eligible for the full experience, MoneyLion describes a trial option that can start as low as $10, with limits rising through a repayment progression. So a brand new user with irregular deposits should expect a small first advance. Treat $500 as where you might end up, not where you start.
A paid membership can raise the Instacash limit up to $700. That’s a different number from the $500, so read the limit shown in the app for your own account before counting on either one.
There is no credit pull. MoneyLion states that it doesn’t do any credit check during or after an Instacash request. For a broader look at apps that work this way, see our guide to the best cash advance apps.
Banking with MoneyLion Spend
MoneyLion offers a checking account it calls MoneyLion Spend, with a debit card. MoneyLion says the account is provided by Pathward, National Association, Member FDIC. If you move your paycheck there as a direct deposit, it can raise your advance limit. If you already bank with Chime or a similar account, check our list of cash advance apps that work with Chime before you switch anything.
Investing and credit building
The app also has investing, including managed investing and access to stocks and ETFs, and a credit building product called Credit Builder Plus. We could not confirm a price for Credit Builder Plus on MoneyLion’s public pages, so we aren’t quoting one. Check the price in the app before you commit. These extras are nice to have, but they aren’t a reason to pick MoneyLion over a simpler app.
What MoneyLion actually costs
Instacash has no interest, and MoneyLion says Turbo fees and tips are completely optional. The costs come from how fast you want the money and whether you tip.
Standard delivery takes one to two business days and costs $0, but only if the advance goes to a MoneyLion Spend account. If you use an outside checking account, MoneyLion lists standard delivery as not available, so the fast option is the only one.
Turbo delivery gets the money to you within minutes. The fee depends on where it lands:
| Where the money goes | Turbo fee | On a $100 advance | On a $500 advance |
|---|---|---|---|
| MoneyLion Spend account | 7.5% of the advance, capped at $14.99 | $7.50 | $14.99 |
| Outside checking account | 9% of the advance | $9 | $45 |
The last two columns are our math from MoneyLion’s published percentages. The difference is big at the top end. Taking $500 to an outside account costs about three times what it costs to take it to a Spend account.
A $9 fee on a $100 advance repaid in two weeks works out to roughly 235% APR. That sounds awful, and it’s a lot for borrowing money. The fair comparison, though, is a $35 overdraft fee or a late bill, not a credit card. And if you can wait, the Spend account standard delivery option is free.
MoneyLion also sells a paid membership, called MoneyLion One on its site, at $9.99 per month. It drops to $0 for a month if you receive at least $500 in eligible direct deposits into a Spend account during the previous 30 days. You don’t need it to use basic Instacash. If you are weighing subscriptions, our Tilt review breaks down how a flat monthly fee changes the math.
Pros and cons
What works
- Up to $500 is more than many advance apps offer
- No credit check and no interest on the advance
- Standard delivery is free when you use a MoneyLion Spend account
- Turbo fees and tips are optional
- Fees are capped at $14.99 on Turbo delivery to a Spend account
- One app covers advances, banking, investing and credit building
What does not
- Turbo to an outside bank costs 9% of the advance, with no cap
- Free standard delivery isn’t available to an outside bank account
- The $500 limit needs qualifying recurring direct deposits, so new users often start small
- The linked checking account has to be open for at least two months
- Repayment is pulled automatically, and MoneyLion may make more than one attempt if the balance is short
- Savings and money market accounts don’t count as checking
- The extras can nudge you toward a paid membership you may not need
How to get an advance
The steps are short.
- Download the app and create an account
- Link your checking account. MoneyLion says to choose one that has been open for at least two months
- Wait for the app to show your Instacash limit
- Request the amount you need and pick standard or Turbo delivery
- Make sure the money is there on the scheduled repayment date, when MoneyLion deducts it automatically
If you don’t see $500, that is normal. MoneyLion says the limit is tied to your deposits and history, and that higher deposits generally raise it. Download MoneyLion and check your own number before you plan around it.
Is MoneyLion safe to use
MoneyLion is a fintech company that works with a partner bank, Pathward, and says its Spend account funds are FDIC insured, subject to limits. The advance itself has no interest, so it doesn’t snowball the way a payday loan can.
The bigger risk is the loop. Repayment comes out of your account on the scheduled date, which can leave the next stretch short and push you to borrow again. It may deduct a partial repayment and try again if the balance falls short, so keep a cushion in the account. If the loop already sounds familiar, our guide to the options in money borrowing apps is a good next stop.
How MoneyLion compares to other cash advance apps
MoneyLion lands in the middle of the pack. The advance ceiling is solid, and the fee is predictable if you use the Spend account. It loses when you want free instant money or no banking strings attached.
- EarnIn runs on optional tips instead of a delivery fee, so it can cost less if you rarely borrow. Read our EarnIn review for the details
- Our Klover review covers an app that avoids a required monthly fee
- The Cleo review looks at an app that leads with budgeting and puts the advance behind it
- If you want a longer list, apps like Dave and apps like EarnIn cover the field
For the whole category side by side, start with the best cash advance apps:
Is MoneyLion worth it
It’s worth a look if you have steady direct deposits and can use the MoneyLion Spend account. That setup gets you the highest advance ceiling and the lowest delivery cost. If you want to keep your current bank and still need the money fast, the 9% Turbo fee makes it pricier, and a tip based app may serve you better.
Either way, link your account and see the number before you decide. The offer you get is the only one that matters.
Check your MoneyLion Instacash limit to see what the app offers you.
Frequently asked questions
MoneyLion advertises Instacash advances up to $500, based on your direct deposits, transaction history and other factors. People who don’t qualify for the full experience may start with a trial advance as low as $10. A paid membership can raise the limit up to $700. You can check your limit with MoneyLion in the app.
No. MoneyLion states that it doesn’t do any credit pull or credit check during or after an Instacash request.
There is no interest. Standard delivery is $0 to a MoneyLion Spend account and takes one to two business days. Turbo delivery is 7.5% of the advance, capped at $14.99, to a Spend account, or 9% of the advance to an outside checking account. Turbo fees and tips are optional. See the MoneyLion app for the amount on your own advance.
You link a checking account that has been open for at least two months. Savings and money market accounts don’t count. The up to $500 limit applies when MoneyLion can detect qualifying recurring direct deposits in that account.
MoneyLion deducts the advance automatically on the scheduled repayment date. If the balance is short, it says it may deduct a partial repayment and make additional attempts, and it may try other payment methods you have added. Your bank may add its own overdraft or returned payment fee, so keep a cushion in the account.
Where to go next
If you only need a small amount, $100 instant loan apps covers the smaller options. If you are still comparing, the best cash advance apps list ranks the field in one place.
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