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MoneyLion Instacash: 2024 Review

Updated on Jan. 9, 2024

At a glance

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Check rate with Bankrate
Rating: 4.6 stars out of 5
Bankrate Score
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Rating: 5 stars out of 5
Rating: 4.5 stars out of 5
Customer Experience
Rating: 4.2 stars out of 5

About Bankrate Score

MoneyLion is a digital platform that offers investing, credit building, lending and banking products. The company was founded in 2013 and is headquartered in New York.

Lender Details


Loan amount

Up to $500


APR from


Clock Wait

Term lengths

Next recurring deposit

MoneyLion pros and cons

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  • No monthly fees
  • Payment deferment available
  • Peer boost feature
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  • High express funding fees
  • Limit increases can take a while
  • Membership required for higher advance limits

Best for RoarMoney account holders

MoneyLion’s Instacash feature doesn’t require you to have a RoarMoney account to use it. If you have a RoarMoney account with recurring deposits, you get access to a higher cash advance limit of up to $1,000 instead of the standard $500 cap.

RoarMoney account holders can also get their funds quicker — within one to two business days instead of up to five business days — without paying a fee. Account holders also get a discount on turbo delivery fees, which compensates the $1 fee you pay each month for having the RoarMoney account.

How to qualify for a MoneyLion advance

To qualify for MoneyLion’s Instacash feature, you’ll need to download the app and link a checking account that meets the following criteria:

  • Is registered under your name.
  • Has been active for at least 60 days.
  • Has a positive balance.
  • Receives regular deposits.

Additionally, you may need to present an official ID to verify your identity or submit a selfie holding your ID. Some of the requirements may be waived if you choose to open and use a RoarMoney account instead.

How this app compares

MoneyLion vs. EarnIn

EarnIn offers all its users a cash advance limit of up to $750 per pay period, and no fees. That said, the app does have a daily $100 withdrawal limit. MoneyLion, on the other hand, allows you to withdraw up to your $500 limit that same day — through different transactions. MoneyLion also allows you to increase your Instacash to up to $1,000, but only with a RoarMoney account. 

All-in-all, EarIn is a better choice if you need to cover a larger expense and don’t want to set up another account just for the sake of getting a higher dollar amount.

MoneyLion vs. Brigit

While Brigit may offer quicker standard funding than MoneyLion, its cash advances are capped at just $250. Additionally, to access the Brigit’s Instant Cash feature, you’ll need to pay a monthly subscription fee of $9.99 for its Plus plan or $14.99 for its Premium plan. This can be quite steep considering that MoneyLion doesn’t charge a subscription fee and has a cash advance limit double the amount of Brigit’s. 

MoneyLion: In the details

What we like and what we don’t like

What we like

  • No monthly fees: MoneyLion users can take advantage of its Instacash feature, without paying any monthly subscription or late payment fees. a
  • Payment deferment available: If you’re tight on money and can’t pay your Instacash balance by your due date, you can defer your payment for up to two weeks.
  • Peer boost feature: Users can send and receive up to five boosts to friends and family who are also using the app to increase their Instacash limit by $5 per instance, each calendar month. 

What we don’t like

  • High express funding fees: Turbo fees — which allow you to get the funds within minutes instead of days — can be as high as $8.99 for each $90 to $100 withdrawal. This can be steep, as you can only withdraw a maximum of $100 per instance, so you may have to pay this amount multiple times if you withdraw the full $500.
  • Instacash limit increases can take a while: When you first open the Instacash account, you get access to a reduced amount until the app determines the amount and frequency of your recurring deposits.
  • Membership required for higher advance limits: Though not required, if you want access to a higher cash advance limit than the standard $500, you’ll need to get a RoarMoney account or a Credit Builder Plus membership.

How to contact MoneyLion

Customers can get in touch with MoneyLion’s customer support team via chat — through the company’s mobile app — or by sending an email. Customer support is also available 24/7 over the phone at 844-224-0087.

How to take out an advance with MoneyLion

Taking out a cash advance with MoneyLion is fairly simple, just follow a few steps.

MoneyLion features and perks

Consumers who open and link a RoarMoney account with recurring deposits can increase their Instacash limit to up to $1,000 — one of the highest cash advance caps in the market. Although the company charges a $1 monthly administration fee on this account, the perks may be very well worth it.

With a RoarMoney account you get access to exclusive rewards and get your paycheck up to two days earlier. RoarMoney account holders also get a discount on turbo delivery fees and price protection. The latter allows you to get a reimbursement if something you bought decreases in price within 90 days of purchasing with your RoarMoney card. 

Fees and penalties

MoneyLion doesn’t charge any fees for its Instacash service. However, if you want your funds deposited within minutes, you can opt to pay a turbo delivery fee. This fee ranges from $0.49 to $6.99 for RoarMoney account holders, and from $1.99 to $8.99 for those with an external bank account. The amount you pay will depend on your withdrawal amount.

MoneyLion frequently asked questions

How Bankrate rates MoneyLion

Overall Score 4.6
Availability 5.0 MoneyLion got a perfect score in this category due to its flexible cash advance amounts and quick funding.
Affordability 4.5 MoneyLion’s express funding fees are on the higher side. You’ll also need to subscribe to either its RoarMoney account or Credit Builder Plus services to get a higher advance limit than $500.
Customer Experience 4.2 MoneyLion has had a higher-than-average number of complaints with the CFPB in the last three years. This resulted in a lower score in this category.


To select the top cash advance apps, the Bankrate team evaluates companies using a 16-point ranking system, known as the Bankrate Score. The Bankrate Score focuses on three key aspects: availability, affordability and customer experience. These are some of the factors considered as part of each category:

  • Availability: Minimum and maximum loan amounts, overdraft protection features, repayment term lengths and funding timelines are taken into account as part of this section.
  • Affordability: For this category we looked at subscription pricing and free version availability. We also looked at additional tools and resources offered to users as part of the subscriptions, as well as any fees assessed by the companies.
  • Customer experience: Bankrate evaluates factors such as the company’s reputation through regulatory websites, like the Consumer Financial Protection Bureau (CFPB), as well as contact support options. Our team also favors apps that are highly rated and that give users the option to extend repayment in case of hardship.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.