MoneyLion Pricing & Features Overview- Subscribed.FYI
Fintech and Banking

MoneyLion

MoneyLion offers fee-free mobile banking with early paycheck access, cashback rewards, and optional features like Instacash℠ advances and credit building. Ideal for those seeking a comprehensive and empowering financial app.

Overview

What is MoneyLion?

Looking for a mobile banking solution that goes beyond the basics? MoneyLion isn’t just a bank account; it’s a comprehensive financial app designed to empower you with mobile-first convenience, flexible features, and tools to help you grow your money. From managing your everyday banking to building credit and investing, MoneyLion provides a suite of features to help you take control of your financial future.

Why Choose MoneyLion?

Seeking a convenient and empowering way to manage your finances? Here’s why MoneyLion stands out:

  • Mobile-First Banking: Manage your finances seamlessly through the user-friendly MoneyLion mobile app.
  • Get Paid Early (Direct Deposit): Receive your paycheck up to 2 days early.
  • No Monthly Fees: Enjoy fee-free banking with no minimum balance requirements.
  • Cashback Rewards: Earn cash back rewards on debit card purchases with select merchants.
  • Instacash℠ (Advance): Access up to $1,000 to cover unexpected expenses, avoiding overdraft fees (subject to eligibility and verification).
  • Credit Builder Plus (Optional): Build or improve your credit score with a secured credit card option.
  • Managed Investing (Optional): Start investing with as little as $1 and grow your wealth over time.

Who is MoneyLion For?

MoneyLion caters to individuals seeking a modern and feature-rich banking experience:

  • Young Professionals: Manage your finances on the go with the convenient mobile app and get paid up to 2 days early.
  • Budget-Conscious Individuals: Benefit from fee-free banking and avoid overdraft fees with Instacash℠.
  • People Building Credit: Start or improve your credit score with Credit Builder Plus.
  • Tech-Savvy Users: Embrace the convenience of mobile-centric banking with a suite of financial tools.
  • Anyone Looking to Grow Their Money: Earn cashback rewards, access Instacash℠ advances, and explore investing options.

MoneyLion goes beyond traditional banking, offering a user-friendly and feature-rich platform designed to empower you to take charge of your finances. With its focus on convenience, fee-free banking, reward programs, and financial tools, MoneyLion is the perfect choice for individuals seeking an all-in-one solution to manage their money and build a brighter financial future.

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Pricing and Features

Product Tier
Pricing
Features

RoarMoneySM Banking Account

Monthly Fee

$1

  • Early Payday & Instacash: Get paid early, access paycheck instantly.
  • Real Cashback Rewards: Earn cashback on purchases, shop online.
  • Flexible Banking: Customize deposits, add funds, withdraw easily.
  • Money Transfer: Send, receive money without fees, use MoneyLion Pay.
  • Safety & Security: FDIC-insured, Mastercard benefits, instant card lock.
  • No Minimums, No Fees: No minimum balance, no hidden fees, no ATM fees.
  • Spending Tracking & Management: Receive weekly reports, personalized insights.

Personal Loans

Origination Fee

$0

APR

5.99%-29.99%

  • Tailored Loan Offers: Personalized loans up to $50,000.
  • Quick Comparison: Compare offers from trusted partners in minutes.
  • No Fees or Impact: Free offers with no hidden fees or credit impact.
  • Simple Application Process: Tell us, share details, find match, compare.

Money Lion Wow

Monthly Price

$9.99

Yearly Price

$119.88

  • Top Brands Savings: Shop and save on Samsung, Nike, Keurig, and more.
  • Lifestyle Discounts: Save on gym memberships and therapy sessions.
  • Weekly Giveaways: Win AirPods, consoles, getaways, and more.
  • Life Protection: WOW covers you with various benefits.
  • Everyday Spending Cashback: Earn up to $500 on qualifying purchases.
  • 1% Bitcoin Back: Get 1% back when buying Bitcoin.
  • Financial Decisions Cashback: Earn cashback on loans and credit-building tools.

Auto Insurance Savings

Registration fee

$0

  • Free Driver Score Assessment: Track safe driving for savings.
  • Save $323 a Year: Lower auto insurance rates easily up to 40%.
  • No Hidden Fees: Sign up for free, no catch.
  • Combine Discounts: Rewards for responsible driving, combined with others.

Instacash

Interest Rate

$0

  • Instacash: Quick cash up to $500, no interest.
  • Increase Limit: Boost up to $1000 with recurring deposits.
  • Automated Repayments: Hassle-free repayment with automated process.
  • Trial Option Available: Initial Instacash amount if not fully qualified.

Experience

Cancellation

Streamlining Your Financial Management Suite: Concluding Your MoneyLion Experience

As your financial goals and priorities evolve, or you explore alternative financial management solutions, MoneyLion offers a clear and efficient process to close your account. To ensure a smooth transition and avoid unintended charges, please visit this page.

Read More

Product FAQ

What are the key benefits of using MoneyLion compared to traditional banks?

MoneyLion caters to those who value a mobile-centric approach to managing their finances and potentially dislike traditional bank fees:

  • Mobile Banking with Rewards: Enjoy features like mobile check deposit, fee-free bill pay, and the ability to send and receive money. You might even earn cashback rewards for debit card purchases at certain retailers.
  • Cash Advances with Interest (Instacash): Access up to $1,000 cash advance with interest if needed. Responsible repayment helps build your credit score while providing immediate access to funds.
  • Credit-Building Tools: MoneyLion offers a credit builder loan to help you establish or improve your credit score. Timely payments on this loan can positively impact your creditworthiness.
  • Investment Options (limited in some regions): In some areas, MoneyLion might offer fractional stock purchases or connect you with a partner brokerage platform, allowing you to invest and potentially grow your wealth.

These features can be attractive to those who want a mobile-first banking experience with the potential to earn rewards, build credit, and explore investment opportunities, potentially all within one platform.

Is MoneyLion a safe and secure platform for managing my money?

MoneyLion prioritizes security measures to protect your financial information:

  • FDIC-insured Deposits: Your deposited funds are held by an FDIC-insured partner bank, up to standard limits. This means your money is protected in case of unforeseen circumstances with MoneyLion itself.
  • Data Encryption: MoneyLion utilizes data encryption technologies to safeguard your sensitive financial information within their app.
  • Security Features: Two-factor authentication and other security features might be available to add an extra layer of protection for your account and prevent unauthorized access.

While not a traditional bank, MoneyLion leverages FDIC insurance, data encryption, and security features to provide a safe and secure platform for managing your finances.

How does MoneyLion's Instacash advance work, and are there any fees involved?

MoneyLion’s Instacash feature allows you to access cash in advance of your next paycheck:

  • Advance Limits: You might be eligible for an Instacash advance of up to $1,000, depending on your account activity and creditworthiness.
  • Interest Charges: Instacash advances accrue interest if not repaid within a specific timeframe. Understanding the interest rate and repayment terms is crucial before using this feature.
  • Responsible Repayment Builds Credit: Making timely repayments on your Instacash advances can positively impact your credit score.

While convenient, Instacash is a loan with interest charges. It’s important to use it responsibly, repay advances promptly, and understand how it can affect your credit score.

Does MoneyLion offer any budgeting or financial management tools within their app?

MoneyLion offers some basic tools to help you manage your finances:

  • Transaction Categorization: Transactions are automatically categorized based on the merchant type, allowing you to track spending across categories like groceries, entertainment, or bills.
  • Spending Insights: The app might provide visualizations and reports to help you understand your spending patterns and identify areas where you might be able to adjust your budget.
  • Financial Calculators: MoneyLion might offer basic financial calculators within the app to help you estimate loan payments, savings goals, or potential investment returns (depending on available features in your region).

These tools can be a helpful starting point for managing your finances, but more comprehensive budgeting apps might be needed for in-depth financial planning.

Does MoneyLion offer any features to help me manage my debt and improve my overall financial health?

While MoneyLion doesn’t offer comprehensive debt management tools, it can indirectly contribute to your financial well-being:

  • Credit Builder Loan: Responsible repayment on MoneyLion’s credit builder loan can positively impact your credit score, potentially making it easier and cheaper to borrow money in the future.
  • Financial Insights: The app might provide spending visualizations and reports, potentially enabling you to identify areas where you can cut back and free up funds to manage existing debt.
  • Membership Programs (potential): MoneyLion might offer premium membership options with additional features like credit monitoring or personalized financial advice, potentially aiding in debt management strategies.

These features, while not a direct debt payoff solution, can empower you to gain insights into your spending habits, build credit, and potentially make informed financial decisions to manage debt more effectively.

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