MoneyLion: what it costs and what the record shows

Whether an app is “legit” comes down to facts you can check: who runs it, what it charges, whether it is licensed or registered where a state requires it, and what regulators and courts have said about it. Those facts for MoneyLion are below, each with its source. You sign up yourself; the app estimates your pay from your bank account and takes the advance back on payday.

What you pay

What the marketing says, and what it leaves out

• “No interest, no mandatory fees, and no credit check”: No interest and no required fee for standard delivery, but Turbo delivery costs 7.5% (to MoneyLion Spend, capped at $14.99) or 9% (to outside accounts), and the app offers an optional tip.
• “Instacash "up to $1,000”: $1,000 requires recurring direct deposits into a MoneyLion Spend account; with an outside bank the cap is $500, and each request is limited to $100 or $200.

The real cost, worked out

Same formula as our calculator: total cost ÷ amount × 365 ÷ days. Tips are left at $0 because they are optional; a tip adds to the cost.

How MoneyLion works

1. Link the checking account that receives your paycheck; it must be at least 60 days old and show at least three recurring direct deposits from the same employer or payer.
2. Verify your identity if asked (photo ID and selfie) and accept the Instacash terms.
3. Tap Request on the Instacash dashboard; you may be asked to save a debit card as a backup for repayment.
4. Choose the amount and where to send it (MoneyLion Spend allows up to $200 per request, most other destinations $100), and standard or Turbo delivery.
5. Optionally add a tip, review the repayment date and total, and confirm.
6. On the scheduled date MoneyLion debits the advance plus any Turbo fee and tip.

Steps summarized from MoneyLion Help: How to request Instacash².

How it is paid back

Repayment is debited automatically on a date set from your predicted direct deposit, from your linked debit card, MoneyLion Spend or the linked outside bank account. If funds are short, MoneyLion first tries a partial repayment and keeps trying until the balance is paid. You may move the date in the app, or defer once per cycle by up to two weeks through chat. You can revoke the debit authorization with at least three business days' notice.⁶

Which banks it works with

Only what MoneyLion’s own help center or terms say. “Not stated” means we found no official statement either way, not that it won’t work. Compare all apps by bank.

State licenses and registrations

• Indiana: listed as “ML Plus LLC” on the official list (checked 2026-10-18).
• Missouri: listed as “ML Plus LLC” on the official list (checked 2026-10-18).
• South Carolina: listed as “ML Plus, LLC” on the official list (checked 2026-10-18).
• Utah: listed as “ML PLUS LLC DBA: MONEYLION” on the official list (checked 2026-10-18).

Official record

• 2022-09-29 Consumer Financial Protection Bureau (U.S. District Court, S.D.N.Y., No. 1:22-cv-08308), complaint (allegations). The CFPB sued MoneyLion and its lending subsidiaries over installment loans and memberships sold to military borrowers, alleging Military Lending Act violations and that consumers with unpaid loans were not allowed to leave the membership program. The case concerned loans and memberships, not Instacash. Status: Resolved by the stipulated final judgment entered 2025-11-24 (next record). Official document
• 2025-11-24 Consumer Financial Protection Bureau (S.D.N.Y.), judgment. The court entered a stipulated final judgment and order resolving the CFPB's claims; it requires the defendants to pay $1.75 million in consumer redress. Status: Post Order/Post Judgment (CFPB page, last modified 2025-12-01). Official document
• 2025-04-14 New York Attorney General (New York State Supreme Court, New York County), complaint (allegations). New York's Attorney General sued MoneyLion, alleging that Instacash advances are illegal high-interest payday loans under New York usury law, that it advertises a 0% rate and $500 advances deceptively, and that it pressures users to tip. These are allegations. Status: MoneyLion moved the case to federal court (S.D.N.Y. No. 1:25-cv-04093); on 2025-11-12 the federal court sent it back to state court. Later state-court status was not checked. Official document
• 2025-11-10 Mayor & City Council of Baltimore (U.S. District Court, D. Md., No. 1:25-cv-03692), complaint (allegations). Baltimore City sued MoneyLion Technologies Inc. seeking civil penalties and injunctive relief; the case was docketed in federal court on 2025-11-10 after removal from state court. Status: Pending; MoneyLion's motion to dismiss was fully briefed with its reply on 2026-10-02 (court docket). Official document
• 2023-11-14 Colorado Attorney General, settlement. MoneyLion settled Colorado's finding that it collected illegal membership fees tied to loans, agreeing to stop lending in Colorado under that membership model, return $271,000 to consumers and pay $75,000 to the state. This concerned loans and memberships, not Instacash. Status: Settled. Official document

Searched: CFPB enforcement actions; FTC legal library; State attorney general press releases (via government index search); CourtListener federal dockets. A complaint or lawsuit contains allegations; it is not a finding unless a court or agency says so.

Cheaper ways to cover a gap

• Ask your employer whether it offers pay advances through payroll, and what they cost you.
• Federal credit union payday alternative loans (PALs) are capped at 28% APR.
• Ask the bill’s company (utility, landlord, lender) for a payment plan or a few days’ extension.
• Call or text 211 for local emergency help with rent, utilities and food.

Details and official links for each option

What we could not confirm

• Standard (free) delivery to outside accounts: two help articles disagree on whether it is offered.
• State-specific Instacash pricing for Connecticut, Maryland, Indiana and Wisconsin.
• Status of the New York AG case in state court after the 2025-11-12 remand.
• Original state-court filing date of Baltimore v. MoneyLion.
• All eight banks: MoneyLion's help center does not say whether these banks can be linked for Instacash.