Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Finance What Is MoneyLion? What You Need to Know in 2025 Updated Jul 24, 2025 9-min read Reviewed by Cassidy Horton Reviewed by Cassidy Horton Expertise: Banking, insurance, home loans Cassidy Horton is a finance writer passionate about helping people find financial freedom. With an MBA and a bachelor's in public relations, her work has been published more than a thousand times online. Learn more about Cassidy Horton Learn More Our take: MoneyLion is best for people who want to build credit, borrow small amounts between paychecks, and manage money in one place, if you don’t mind the occasional upsell. Mobile Bank No interest or mandatory fees on Instacash cash advances Offers both banking and credit-building tools in one app No credit check required for most features Cashback rewards and financial tracking tools Some services have eligibility restrictions Instacash limits may start low and may take time to increase Monthly fees apply to WOW membership, credit builder loan, and managed investments No high-yield savings account Products offeredCash advance (Instacash), credit builder loan, personal loan marketplace, banking (RoarMoney), investing, rewardsMonthly fees$0 – $9.99 WOW membership$19.99 credit builder loan$1 – $5 managed investment accountATM network55,000+ fee-free ATMs via Allpoint MoneyLion is a legit all-in-one finance app offering cash advances up to $500, credit builder loans, personal loan offers, and fee-free banking through RoarMoney. We like that it doesn’t charge interest on Instacash or require a credit check for most features. But the app can feel bloated, and some tools (like WOW rewards) require a paid membership. Table of Contents About MoneyLion How it works Instacash Credit Builder Plus Personal Loan Marketplace RoarMoney (MoneyLion Banking) Managed Investing and Round Ups WOW Membership Other features Plans and pricing Pros and cons Is MoneyLion legit? Customer reviews Alternatives vs. Current vs. Chime vs. EarnIn FAQ How trustworthy is MoneyLion? Does MoneyLion give you money instantly? How do you get $250 from MoneyLion? How much does MoneyLion let you borrow? How to use MoneyLion You can start using MoneyLion in under 10 minutes. Just: Download the MoneyLion app from the App Store or Google Play. Create an account using your name, email, and phone number. Verify your identity with your Social Security number and a government-issued ID. Choose your goals (like borrowing money or building credit). Link your bank account to unlock features like Instacash and RoarMoney. Once you’re in, you can apply for a credit builder loan, access Instacash, compare personal loans, and explore other tools inside the app. MoneyLion is mobile-first, so nearly everything (borrowing, tracking, saving, and investing) happens in the app. How does MoneyLion work? MoneyLion offers a suite of financial tools to help you borrow, build credit, bank, and invest. Here’s a breakdown of its most popular products. Instacash MoneyLion Instacash gives you access to up to $500 of your paycheck with no interest and no credit check. Qualifying RoarMoney users with recurring direct deposits could unlock limits up to $1,000. Standard delivery is free, or you can pay a small Turbo Fee for instant transfers. (Turbo fees are $0.49 to $8.99, depending on the amount and whether it’s an internal or external transfer.) Repayment happens automatically on a scheduled repayment date. This feature can help you avoid overdraft fees or late bill payments. Heads up: Although free to use, optional fees and tipping can add up over time if you rely on them frequently. Credit Builder Plus MoneyLion’s credit builder loan helps improve your credit while saving money. You can take out a loan for up to $1,000 (no hard credit check required). You make monthly payments into a locked savings account. You can complete challenges to earn cash rewards. Payments are reported to all three credit bureaus. Once the loan is paid off, you get access to the savings. MoneyLion reports that most users boost their credit by 25 or more points within 60 days. It could be a smart option if you have no credit or poor credit history as long as you can commit to consistent payments. Personal Loan Marketplace The MoneyLion personal loan marketplace lets you compare offers up to $100,000 with rates ranging from 6.99% to 35.99% APR. Loan terms vary from 24 to 84 months. Matching does not affect your credit score. MoneyLion isn’t the lender. It just connects you with partners. Still, it’s helpful if you want to compare multiple options in one place. RoarMoney (MoneyLion Banking) RoarMoney is MoneyLion’s mobile banking product with FDIC insurance through Pathward N.A. Get paid up to two days early. Access up to $1,000 in Instacash and up to $500 in cashback rewards. Use 55,000+ fee-free ATMs. Round up spare change to invest automatically. You’ll also get a virtual debit card immediately, with a physical card sent after funding the account. Managed Investing and Round Ups RoarMoney users can turn on Round Ups to invest spare change from purchases. You can also open a managed investment account, which is included with a WOW membership. Choose from curated portfolios or customize your own. No commissions or trading fees. Great for beginners who want to start small and grow. WOW Membership MoneyLion Plus is now called WOW, a premium membership that costs $9.99 a month. Perks include: Cash back on purchases of $10 or more Purchase protection, including travel and cellphone insurance Rebates on Instacash Turbo Fees 1% bitcoin back on crypto buys Access to giveaways and member-only deals You don’t need WOW to use MoneyLion, but frequent users could save more with it because it unlocks cash back and fee waivers. Other noteworthy features MoneyLion’s main products do the heavy lifting, but a few benefits help round out the experience: Shake ‘N’ Bank rewards: Each month, you get five chances to earn cash back by shaking your phone after purchases of $10 or more. WOW members get unlimited shakes. MoneyLion Pay: Send and receive money instantly with no fees or separate app required. Spending insights: RoarMoney includes automatic spending tracking by category to help you manage your budget without extra apps. These features aren’t essential, but they do add more value for users who like their banking tools all in one place. Plans and pricing Most MoneyLion products are free to use, including Instacash, RoarMoney banking, and the personal loan marketplace. But you’ll pay $19.99 per month for a credit builder plus loan and $1 to $5 per month for a managed investment account. If you want to unlock premium features and rewards, you’ll need to upgrade to the MoneyLion WOW membership, which costs: $9.99/month (billed monthly) $54.90 for six months $99.99 for a full year WOW members get perks like unlimited cash back, purchase protection, Instacash Turbo Fee rebates, and access to a black metal debit card. It’s optional, but it adds value if you’re a heavy MoneyLion user. No fees apply to open a RoarMoney account or use the debit card at Allpoint ATMs. But you might pay $3 or more if you withdraw from an out-of-network machine. Pros and cons Pros No interest or mandatory fees on Instacash cash advances Offers both banking and credit-building tools in one app No credit check required for most features Access to a large ATM network with RoarMoney Cashback rewards and financial tracking tools Cons Premium features require a WOW membership App interface can feel cluttered with upsells Some users report difficulty reaching support Instacash limits start low and may take time to increase Some services have eligibility restrictions Is MoneyLion legit? Customer reviews SourceCustomer ratingNumber of reviewsTrustpilot3.8/527.8KBetter Business Bureau (BBB)4.06/5888Apple App Store4.8/5245.5KGoogle Play Store4.7/5182KCollected in July 2025. MoneyLion earns strong ratings on the app stores, where users praise the easy setup, quick Instacash access, and helpful alerts. Many say it’s helped them build credit or cover small emergencies without interest. That said, reviews are mixed elsewhere. On the BBB, complaints often mention unexpected fees, account holds, or customer service delays. Some users also say the app markets too many upgrades. Overall, MoneyLion is legit. However, you’ll want to read the fine print and keep an eye on your account. Alternatives MoneyLion isn’t the only all-in-one finance app on the market. Here’s how it stacks up against a few top competitors. MoneyLion vs. Current Current is a modern mobile banking app that offers fee-free accounts, early direct deposit, and a secured Build Card for credit growth, similar to MoneyLion’s credit builder loan. It also stands out with savings “pods” that earn up to a 4% bonus and tools to help teens learn to manage money. MoneyLion, on the other hand, combines mobile banking with cash advances up to $500, a broader credit-building loan, and access to a loan marketplace. While both apps offer early payday and credit tools, MoneyLion is better suited for users who also want borrowing options and investing features in one app. Current may be the better fit if you’re focused on savings, credit building, or managing finances for a family. Best Cash Advance Apps MoneyLion vs. Chime Chime is a neobank that offers early payday, fee-free overdraft protection, and a top-rated credit builder card. But it doesn’t offer personal loans or cash advances the way MoneyLion does. If you want a traditional banking experience with strong credit-building tools, Chime is a top pick. But if you need flexible access to fast cash and loan comparison tools that don’t lock you into one company, MoneyLion might be more versatile. Best Credit Builder Apps MoneyLion vs. EarnIn EarnIn focuses on fee-free paycheck advances and budgeting support. It lets you access up to $750 per pay period with no mandatory fees, plus features like balance alerts and automatic savings. But EarnIn doesn’t offer credit-building tools, investing, or loan comparisons. Need $100, like, right now? EarnIn offers a free, instant $100 cash advance to all qualifying first-time users. MoneyLion may be a better option for users who want a more all-in-one platform. If your priority is simply getting small cash advances without fees or credit checks, EarnIn could be the easier, low-friction choice. FAQ How trustworthy is MoneyLion? MoneyLion is a legitimate financial technology company founded in 2013. It partners with Pathward N.A., Member FDIC, to provide banking services. It also uses bank-level encryption and offers FDIC insurance on deposits up to $250,000. The company also created Engine by MoneyLion to help customers compare products across multiple providers and platforms. Does MoneyLion give you money instantly? Yes, MoneyLion’s Instacash feature can provide cash advances instantly for an optional Turbo Fee. Standard delivery takes one to five business days and is free. How do you get $250 from MoneyLion? You can get $250 or more with MoneyLion using Instacash. You can connect a bank account that has direct deposits coming in to unlock up to $500 in Instacash, or you can set up a RoarMoney account and get up to $1,000. How much does MoneyLion let you borrow? Instacash advances go up to $500 (or $1,000 for RoarMoney users with direct deposit). For personal loans, MoneyLion’s marketplace offers loan amounts ranging from $500 to $100,000.