MoneyLion Review 2025: Fees, Features & Pros vs Cons

MoneyLion is a financial tech company that offers investment services, financial advice and lending — all through its mobile app. Positioning itself as a one-stop shop for consumers’ money needs, MoneyLion’s goal is “to give everyone the power to make their best money decisions.” 

But with monthly fees, optional instant transfer charges and a history of mixed customer reviews, you might be wondering: Is MoneyLion legit? And is it worth your time in 2025?

In our MoneyLion review, we’ll break down its features, fees, pros and cons, and how it stacks up against competitors like Chime and Current so you can decide whether it’s the right financial app for you.

What Is MoneyLion and How It Works

MoneyLion is not a bank — it’s a fintech suite that offers banking, lending, credit-building, finance content and investment services through its own app. While MoneyLion has its own offers, the company has 1,100-plus partners that also offer services to its customers. 

Founded in 2013, MoneyLion boasts 14 million customers with a 4.7-star rating in the App Store. It generates revenue through loan interest, subscription fees and lead generation. 

Instacash Cash Advance: Pros & Cons

Among MoneyLion’s financial products is Instacash, a fast funding personal loan product. Instacash provides cash advances up to $500 ($1,000 with a RoarMoney subscription.) 

Here’s a look at Instacash’s pros and cons. 

Pros:

• No credit check required.
• No interest when repaid on time.
• Can help avoid overdraft or payday loan fees.

Cons:

• Standard bank transfers can take 2–5 business days.
• “Turbo” instant funding comes with a fee, up to $8.99. 
• Borrowing limits start low and increase with usage history.

Credit Builder Plus: Features & Fees

MoneyLion’s Credit Builder Plus is a membership credit-building service tailored for people who want to build their credit but can’t qualify for traditional loans. 

Credit Builder Plus costs $19.99 per month and includes weekly credit score updates and insight on your credit health. It also offers loans up to $1,000 with APRs between 5.99% and 29.99% and reports to all three credit bureaus: TransUnion, Equifax and Experian.

RoarMoney: Account Overview

MoneyLion’s RoarMoney demand deposit account is a bank account powered by Pathward, member FDIC, which also issues the MoneyLion Debit Mastercard. Here’s a look at some of the account features:

• No account minimums or hidden fees
• Fee-free ATM access at 55,000+ Allpoint locations 
• Early paycheck access — get paid up to two days early 
• Access to up to $1,000 of your paycheck with interest-free Instacash
• Spending insights
• Access to MoneyLion Pay, where customers can send and receive money instantly with no fees 
• Up to $500 cashback 

Other MoneyLion Features: Investing, Rewards, WOW Membership

In addition to Instacash, Credit Builder Plus and RoarMoney, MoneyLion offers additional tools for its customers. 

• MoneyLion Wow: This paid membership provides financial tools, cashback rewards, purchase protection, exclusive savings and giveaways, boosted cashback on your MoneyLion Debit Mastercard and other benefits. It costs $9.99 per month.
• Managed Investing: This is a fully managed investment account tailored to you and your goals. The monthly account fee is between $1 and $5, based on your account balance. MoneyLion WOW members get their monthly account fees waived. 
• Rewards: There are all sorts of ways to earn rewards with MoneyLion including games, challenges, referrals and cash back at participating retailers. 

Pros of Using MoneyLion

Here are the main benefits of MoneyLion:

• A Variety of Services in One App: Banking, investing, credit-building and cash advances. 
• Fee-Free Instacash: If you skip turbo delivery, Instacash is fee-free.
• Solid Perks: The cashback and rewards can offset membership costs.
• Easy Access to Funds: Compared to traditional loans, it’s simple to access funds. 

Cons & Common Complaints

These are some of the downsides you may run into when using MoneyLion. 

• Customer Support Issues: Users frequently cite long response times and difficulty cancelling memberships.
• Account Holds & Refund Delays: Some complaints center on frozen accounts and slow refunds.
• Membership Costs: Credit Builder Plus and WOW Membership add ongoing expenses.
• Regulatory Scrutiny: Past lawsuits related to servicemember lending practices have raised concerns.

Is MoneyLion Safe and Legit?

MoneyLion is a legitimate fintech company backed by institutional investors and serving more than 14 million users. Its mobile app has earned strong reviews on iOS and Android, but consumer feedback is mixed, particularly regarding fees and customer service. MoneyLion is safe to use, but it’s important you understand the membership model and repayment requirements.

MoneyLion vs. Competitors (Chime, Current, EarnIn, etc.)

Other fintech apps work similarly but have some differences. For instance, Chime is better for fee-free banking and early paychecks but lacks a built-in credit builder loan. 

Current has similar features but smaller cash advance limits. And EarnIn is focused solely on early paycheck access without monthly subscription fees but there are no investing or credit-building tools. 

However, MoneyLion stands out for bundling multiple financial products in one place, appealing to users who want convenience and are willing to pay for premium services.

FAQs About MoneyLion