0% APR Cash Advances | Instacash | MoneyLion (2024)

How do I get Instacash?

• It’s easier to increase your available Instacash amount by setting up direct deposits into a RoarMoney account. You’ll unlock cash advances up to $1,000 depending on your qualifying income.

  HOW TO USE INSTACASH

• Open the app, go to theFinancestab.
• Tap theInstacashbutton at the top.
• Tap theRequestbutton
• Select the amount you want, and how soon you would like the funds transferred to your account.
• When you use Instacash, the amount you borrowed is automatically deducted from your account on the due date as determined by your pay cycle – with no interest. You can take another Instacash once you repay your last Instacash as long as you maintain your eligibility.

How do I qualify for Instacash?

To apply for 0% APR Instacash advance, tap the Instacash button on the Home Screen. All you need to do is link your checking account to apply. It’s secure and quick. We’ll then verify your checking account and your identity so you can get cash quickly.

CHECKING ACCOUNT MINIMUM REQUIREMENTS

We’ll review your linked account to confirm that it meets or exceeds our minimum qualification requirements. You can improve your chances of qualifying by linking a checking account that meets or exceeds the following criteria when you apply:

Any account that cannot be confirmed as a checking account, such as a savings or money market account, will not qualify for Instacash.

IDENTITY VERIFICATION REQUIREMENTS:

We must be able toverify your identityandcheckingaccount ownership:

• Enter your info as it appears on your bank account. We’ll check the info you enter against the details we receive from your linked bank to make sure they match.
• Make sure your info matches your public records. We’ll also check the info you enter against electronic public records. If you suspect that your public records are incorrect, contact us and we may be able to manually verify your identity.

If your account doesn’t qualify, please try again when it has been open longer and/or had more consistent deposits and positive balance — or try another checking account!

Please note: If you’re a Credit Builder Plus member but you have missed membership and/or loan payments, you may not be eligible to take out Instacash until your account is in good standing.

Will Instacash affect my credit?

How much does Instacash cost?

You can unlock Instacash for free. There’s no monthly fee and no interest. Any delivery fees and tips are totally optional. Whether you choose to tip and which delivery method you use does NOT impact your access to Instacash.

Each time you get an Instacash advance, you can select from these disbursem*nt options, some of which have associated costs:

• Regular delivery (1 – 2 business days) to your RoarMoney^SM account – $0
• Regular delivery (2 – 5 business days) to your external checking account – $0

Turbo delivery (within minutes) to your external account or RoarMoney^SM account – refer to the fee table below:

Lastly, every time you take an interest-free cash advance, we request you to leave a small optional tip. These tips help us cover the high costs of keeping Instacash interest free and readily available to as many members as possible. We’re all in this together!

**Turbo Service provided by a third party, LionPay LLC.

How will my Instacash advance be repaid?

Instacash repayments are automated, making it easy to pay on your scheduled repayment date and replenish your Instacash so it’s ready when you need it next! On each scheduled repayment date, the amount of Instacash you received and any related Tips and Turbo Fees will be automatically deducted from your authorized payment account or debit card. There’s no interest charged.

Here’s how automated Instacash repayments work:

• When you request an Instacash advance, you authorize us to electronically debit your RoarMoney^SM account, a third-party debit card, or an external linked checking or spending account on the scheduled repayment date. If there is not enough balance in your account, we may deduct a partial repayment and make additional debit attempts until the Instacash amounts are fully repaid (subject to your right to withdraw the payment authorization for your payment methods).
• If repayment from the payment methods stated above is not successful, we may attempt a debit on any additional payment methods you have added to your ML Wallet.

Head here to learn more about Instacash repayments.

How do I increase my Instacash limit?

After you unlock Instacash, if we can detect qualifying recurring direct deposits in your linked checking account and can predict when your income is deposited into your account, you’ll have access to Instacash limit of up to $500. Typically, higher deposit amounts will unlock higher Instacash limits.

You can increase your Instacash limit up to a maximum of $1000 (depending on the anticipated income amount) by switching your direct deposits into a RoarMoney℠ account. It’s easy to do this in the app at anytime or through your employer or other payor. Learn more on how to do so here.

Alternatively, you can sign up for a paid MoneyLion membership, which can also increase your Instacash limit up to a maximum of $700.

If you are not currently eligible for our complete Instacash experience, you may be eligible for our Trial Instacash experience, which would allow you to start with a minimum eligibility of $10 with Trial Instacash and unlock higher limits by advancing through a repayment progression program. See here for more information about Trial Instacash.

Instacash is an optional service offered by MoneyLion. Your available Instacash Advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. See Instacash Terms and Conditionsfor more information and eligibility requirements.