MoneyLion Inc

MoneyLion

Item: MoneyLion
Rating: 4
Author: WalletGrower Editorial Team

MoneyLion combines up to $500 in 0% APR cash advances (Instacash) with a full banking platform, credit-builder loans, managed investing, and cryptocurrency — positioning itself as an all-in-one financial super app for consumers looking to consolidate their financial tools.

Apply Now Get MoneyLion Inc

The Bottom Line

MoneyLion is the most ambitious app in the EWA space, attempting to be a complete financial ecosystem rather than just an advance provider. The Instacash feature delivers up to $500 in 0% APR advances (with RoarMoney banking), which is competitive with Dave and exceeds Brigit. But MoneyLion's real pitch is the breadth of its platform: banking, investing, crypto, credit building, and financial tracking all in one app. The free tier provides basic advances up to $250, while the premium WOW membership ($19.99/month) unlocks higher limits, turbo-charged credit building, and exclusive cashback rewards. For consumers who want to consolidate multiple financial apps into one, MoneyLion offers genuine value. However, the platform can feel overwhelming, the premium tier is expensive compared to focused competitors, and the investing features are basic compared to dedicated platforms like Robinhood or Acorns. Best for consumers who want a financial Swiss Army knife; not ideal for those who just need occasional cash advances.

At a Glance

Max Advance	$500 (RoarMoney) / $250 (free)
Fees	Free tier available \| WOW: $19.99/month
Speed	Free: 1-3 days \| Turbo: $0.99-$8.99
Credit Check	No
Banking	RoarMoney (FDIC-insured, no fees)
Credit Building	Yes (WOW membership required)
Investing	Managed portfolios + crypto
Best For	Consumers wanting an all-in-one financial platform
Max Advance	Up to $500 with free Instacash; up to $1,000 with RoarMoney direct deposit ($1/month admin fee). WOW membership $9.99/month (premium tier, was MoneyLion Plus)
Fees	Free tier available \| WOW membership: $19.99/month
Speed Options	Standard: 1-3 business days (free) \| Turbo: minutes ($0.99-$8.99)
Credit Check Required	No
Employer Integration	Not required
Budgeting Tools	Yes

MoneyLion: The Financial Super App Approach

MoneyLion's strategy is fundamentally different from focused EWA apps like EarnIn or Brigit. Rather than doing one thing well, MoneyLion aims to be the only financial app you need — combining banking (RoarMoney), cash advances (Instacash), investing (managed portfolios and crypto), credit building (Credit Builder Plus), and financial tracking into a single platform. The Instacash feature is the gateway product. Free tier users get up to $250 in 0% APR advances with no mandatory fees. Upgrading to RoarMoney banking with direct deposit unlocks $500 limits. The advance process is straightforward: request an amount, choose delivery speed, and funds arrive in your bank account. Repayment happens automatically on your next payday. RoarMoney is a full-featured mobile banking account (FDIC-insured through MetaBank). It includes a Mastercard debit card with up to 12% cashback at select merchants (WOW members), no monthly fees for the basic account, no overdraft fees, and early direct deposit (up to 2 days). For consumers already considering switching to an online bank, RoarMoney's integration with Instacash creates a seamless experience. The investment platform offers managed portfolios with no minimum balance requirement. While basic compared to Robinhood or Fidelity, it provides a simple entry point for consumers who haven't started investing yet. Cryptocurrency trading is also available for Bitcoin and Ethereum.

Pricing Tiers: Free vs. WOW Membership

MoneyLion's free tier is genuinely useful and competitive with paid alternatives. You get: Instacash advances up to $250, RoarMoney banking with no monthly fee, basic investment access, and financial tracking tools. For consumers who just need occasional advances and basic banking, the free tier may be all you need. The WOW membership ($19.99/month or $239.88/year) adds: higher Instacash limits ($500), Credit Builder Plus (the credit-building installment loan), enhanced cashback rewards (up to 12% at select merchants), lower Turbo delivery fees, and priority support. The credit builder alone could justify the cost for consumers actively working to improve their scores — standalone credit-builder products charge $5-$25/month. Cost comparison with alternatives: Dave costs $1/month for $500 advances (far cheaper for pure advances). Brigit costs $9.99/month for $250 advances plus credit building (cheaper than MoneyLion WOW for a similar feature set). EarnIn costs $0 mandatory for $750 advances (cheapest for occasional use). MoneyLion's WOW membership is the most expensive option in the EWA space, but it bundles the most features. The free tier is the most competitive option for consumers who want $0/month costs with advance access.

Ready to get started with MoneyLion?

Apply Now

Pros & Cons

Pros

Up to $500 in 0% APR advances with RoarMoney banking (up to $250 free tier)
All-in-one platform: banking, investing, crypto, credit building, advances
Credit Builder Plus loans help establish positive payment history
Managed investment portfolios with no minimum balance
Free tier available with basic advance access and banking
Cashback rewards on debit card purchases (up to 12% at select merchants)

Cons

Premium WOW membership is expensive at $19.99/month
Platform complexity can overwhelm users who just want advances
Express delivery fees ($0.99-$8.99) are higher than competitors
Investing features are basic compared to dedicated brokerage apps
Advance limits start low and build slowly for new users
Credit Builder Plus requires a $19.99/month WOW membership

Frequently Asked Questions

What is MoneyLion Instacash and how does it work?

Instacash is MoneyLion's earned wage access feature that provides up to $500 in 0% APR cash advances. The amount you can access depends on your account tier and history. Free tier users can access up to $250, while RoarMoney banking users with direct deposit can access up to $500. To qualify, you connect your bank account and MoneyLion analyzes your income pattern, spending habits, and account history. Advances are repaid automatically on your next payday. Standard delivery takes 1-3 business days (free), while Turbo delivery provides funds within minutes for a fee of $0.99-$8.99 depending on the amount. There's no interest, no credit check, and no mandatory tipping — just the optional express delivery fee.

What is the difference between free MoneyLion and WOW membership?

The free tier includes basic Instacash advances (up to $250), RoarMoney banking, and access to MoneyLion's financial tracking tools. The WOW membership ($19.99/month) unlocks: higher Instacash limits (up to $500), Credit Builder Plus (a credit-builder installment loan that reports to all three bureaus), exclusive cashback rewards (up to 12% at select merchants), lower Turbo delivery fees, and priority customer support. For most users, the free tier is sufficient if they just need occasional advances and basic banking. WOW makes sense for consumers who specifically want the credit-building feature or need consistently higher advance limits.

Does MoneyLion's Credit Builder actually work?

Yes, MoneyLion's Credit Builder Plus is a legitimate credit-building tool, but it requires the $19.99/month WOW membership. Here's how it works: MoneyLion opens a small installment loan ($500-$1,000) in your name, and the funds are held in a locked savings account. You make monthly payments that are reported to Experian, Equifax, and TransUnion as on-time installment loan payments. Once the loan is fully repaid, the locked savings are released to you. This creates a positive payment history and adds installment loan diversity to your credit mix — both factors in credit scoring models. MoneyLion reports that the average Credit Builder Plus user sees a 42-point score increase within 60 days, though individual results vary significantly based on your starting credit profile and other factors.

How does MoneyLion compare to other EWA apps?

MoneyLion is the broadest platform but not necessarily the best at any single feature. For pure cash advances: Dave ($500, $1/month) is cheaper; EarnIn ($750, tip-based) has higher limits. For credit building: Brigit ($9.99/month, reports to all 3 bureaus) is cheaper. For investing: Acorns or Robinhood offer more sophisticated tools. MoneyLion's advantage is bundling everything together — if you would otherwise subscribe to 3-4 separate financial apps, MoneyLion's free tier or even the $19.99 WOW membership could save money overall. The free tier is genuinely competitive: $250 advances with no fees, basic banking, and financial tracking at $0/month. The WOW tier makes sense only if you'll actively use the credit builder, higher advance limits, and cashback rewards.

Apply for MoneyLion

Apply Now