Is Money Lion safe?

Fortunately, the answer is yes. MoneyLion is a legit way to borrow money and is used by 3.3 million customers (up 129% year on year). Your information and bank account are safe, and the loan options are legit and used by a diverse group of customers in need of a little extra cash.

Does MoneyLion take money out of your account?

Select the amount you want to borrow. You'll also decide if you want to pay a “turbo” fee to get the funds quickly, and whether you want to tip MoneyLion for the service. MoneyLion will debit the funds from your account on the predetermined repayment date.

Does MoneyLion hurt your credit?

No! We don't do any sort of credit pull during or after an Instacash request. We don't engage in debt collection relating to Instacash advances.

Is MoneyLion a good place to get a loan?

Their site and application process are streamlined and simple, they offer reasonable interest rates, and they provide high-quality and reliable support. Financer.com can gladly say that MoneyLion is an excellent option when you're in need of a loan or other financial services.

What happens if I don't pay back MoneyLion?

It's important to know that when you miss a payment, we will continue to attempt to repay your Instacash advance and any related Tips and Turbo Fees from your eligible accounts as long as your payment authorizations for those accounts remain active.

is The Money Lion App a Scam

How do I stop MoneyLion from taking money out of my account?

Why won't MoneyLion let me cash out?

If you already have a withdrawal that is pending, you will not be able to enter a new withdrawal request until the initial one is complete. This helps ensure that the withdrawal is processed correctly and the funds you requested are available.

Does everyone get approved for MoneyLion?

How do I qualify for a MoneyLion Credit Builder Plus membership? To be considered for a Credit Builder Plus membership, you must be at least 18 years old, a permanent resident or citizen of the United States, have a Social Security number, and possess a bank account, debit card, or prepaid card.

How do you get $1000 from MoneyLion?

Where can I get a $1,000 loan instantly? You can get a $1,000 loan instantly by turning to a bank or credit union for a personal loan, but you must meet their borrowing requirements to qualify. MoneyLion offers a Credit Builder Loan with no minimum credit score needed.

How much does MoneyLion let you borrow?

To apply for instant cash advances up to $500, tap Instacash on the Home screen of the MoneyLion app. You'll find out right away how much you can get. There's no interest, no monthly fee, and no credit check!

What happens if I pay my MoneyLion loan early?

You can pay off your loan early without any penalty or fees; however, to get the full credit-building benefit, we suggest you make the full 12 months of payments on time.

Is MoneyLion better than chime?

Note that MoneyLion's CreditBuilder Plus account has a $19.99 monthly fee. Which should I choose? Choose Chime if you want basic checking and savings options. Choose MoneyLion if you want access to a free investment account with roundup deposits to grow it faster.

How long does it take to get money from MoneyLion?

If you send funds to your external checking account:

Regular delivery: Receive your Instacash funds in 2 - 5 business days at no additional cost.

What are the advantages of MoneyLion?

Can you go negative in MoneyLion?

Any money you deposit into an account with a negative balance automatically applies to the outstanding balance. If it remains in the negatives for anywhere from 60 to 120 days, your account will likely be transferred to the collections department.

What's the catch with MoneyLion?

MoneyLion requires you to pay no fees or interest. However, you may owe fees up to $7.99 if you use Turbo Delivery, depending on your linked account and the disbursement amount.

What is better than MoneyLion?

Plenty of apps out there are similar to MoneyLion including, but not limited to, Earnin', Even, Klover, Brigit, Dave, Chime, PayActiv and Branch.

Does MoneyLion have hidden fees?

save and invest. With no hidden fees. We offer the products you need to get more from your money every day. With low or zero fees, and 100% transparency.

Is MoneyLion good for direct deposit?

MoneyLion offers a lot of perks such as interest-fee cash advances and widespread use of fee-free ATMs. You also have access to early direct deposits, cash back rewards, and investing. All of this makes MoneyLion a solid all-in-one financial app worth considering.

What credit score do I need for MoneyLion?

There is no minimum credit score needed for a MoneyLion loan. That's because MoneyLion does not do a credit creck at all, which means even people with bad credit or no credit can qualify. However, there may be more worthwhile alternative lenders for you to consider.

How long does MoneyLion take to approve a check?

Approval review usually takes 3-5 minutes, but may take up to one hour. All checks are subject to approval for funding in Ingo Money's sole discretion. Unapproved checks will not be loaded to your card.

Does MoneyLion cash checks instantly?

Approval review usually takes 3-5 minutes but may take up to one hour. All checks are subject to approval for funding in Ingo Money's sole discretion. Unapproved checks will not be loaded to your card.

Do I have to pay back MoneyLion?

You have no obligation to repay any Instacash advance you take but remember that you won't be able to request additional Instacash advances until you have repaid all of your previous advances and related Turbo Fees.

How long does MoneyLion direct deposit take?

MoneyLion posts direct deposits as soon as they are received. The exact timing depends on when your employer initiates the payment to your account. Deposits can post any time Monday to Friday throughout the day, with the exception of federal and bank holidays.

How do I pay back MoneyLion?