MoneyLion review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
MoneyLion suits US customers who want an easy-access account paying a variable rate with no minimum balance to earn it, and whose deposits sit under FDIC up to USD 250,000. The costs to watch are currency conversion and cash reloads, which only bite when you spend abroad or top up in cash.
Key facts
- Best for
- An easy-access account paying a variable rate on the balance, with no minimum to earn it.
- Monthly fee
- $0 to $9.99↗
- Deposit protection
- FDIC up to USD 250,000↗
- Currency conversion fee
- 3%↗
- Local account details
- Us-ACH↗
- Transfer fee
- No fee for MoneyLion Pay sends and receives; cash reload fee up to $4.95↗
- Legal entity
- MoneyLion Technologies Inc.↗
- Headquarters
- United States↗
- Founded
- 2013↗
- Support channels
- Email, Phone, Help-centre, Community↗
- Audience
- Travelers
- Pricing model
- No monthly fee
- Features
- Free ATM withdrawals, No credit check
- Official website
- moneylion.com
Savings
- Rate type
- Variable↗
- Minimum deposit
- $0↗
- Access terms
- Variable APY, interest compounds daily and is credited monthly, no minimum balance to earn APY↗
- Account kind
- Easy access↗
Facts checked September 26, 2026, 6 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- The account's free atm and no credit check cover free ATM access and no credit check
- Easy-access account with a variable rate, interest compounded daily and credited monthly, and no minimum balance to earn it
- Support is broad, running on email, phone and help centre rather than a single channel
Cons
- Currency conversion costs 3%, which places it at 262 of 312 brands on that measure
- The monthly fee runs $0 to $9.99, so the account is not costless to keep in every tier even though the model is listed as no monthly fee
- It is built for travelers and pays out over us ach only, so it is a US account rather than a multi-currency one
Who it suits
- US customers who want an easy-access account paying a variable rate with no minimum balance to earn it
- Anyone who wants free ATM withdrawals and a no credit check signup, both in free atm and no credit check
- People banking in the US who want deposits covered by FDIC up to USD 250,000
Who should look elsewhere
- XTB, which lists a monthly fee of €0 as a single figure rather than a range
- Skrill, if a stated monthly fee of €0 reads more clearly than a tiered range
- AXI Card Tarjeta y Credito, a card and credit account with a monthly fee of €0 rather than a US checking account
Who runs it
Behind MoneyLion is MoneyLion Technologies Inc., based in the US and founded in 2013. Licences are held with NMLS Consumer Access, 1237506, the California Department of Financial Protection and Innovation under the Finance Lender Law, the Washington State Department of Financial Institutions and the Texas Office of Consumer Credit Commissioner. Support runs on email, phone and help centre.
How MoneyLion compares
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8.8 vs 9.0Its monthly fee of €0 is a single stated figure, which some readers prefer over a range.
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Where MoneyLion is available
- Available
- United States
- Licence in United States
- NMLS Consumer Access (National Mortgage Licensing System) (1237506), checked September 26, 2026
- Licence in United States
- California Department of Financial Protection and Innovation (Finance Lender Law) (603 L583), checked September 26, 2026
- Licence in United States
- California Department of Financial Protection and Innovation (Finance Lenders Law, Engine by MoneyLion / ML Enterprise Inc.) (60DBO-92377), checked September 26, 2026
- Licence in United States
- Washington State Department of Financial Institutions (Consumer Loan License, MoneyLion of Washington LLC) (CL-1237506), checked September 26, 2026
- Licence in United States
- Texas Office of Consumer Credit Commissioner (Regulated Lender License, MoneyLion of Texas LLC) (151418), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does MoneyLion cost to keep?+
The monthly fee runs $0 to $9.99, so what you pay depends on the tier you sit in. Sends and receives between accounts through MoneyLion Pay carry no fee, while cash reloads are charged. Currency conversion is the cost most likely to surprise at 3% on spend held in another currency.
Is my money protected?+
Deposits are covered by FDIC up to USD 250,000. MoneyLion also lists US lending licences with NMLS Consumer Access, the California Department of Financial Protection and Innovation, the Washington State Department of Financial Institutions and the Texas Office of Consumer Credit Commissioner, and those sit on the credit side rather than the deposits.
Do I need a minimum balance to earn interest?+
No minimum balance is needed to earn the APY on the balance you hold. Interest compounds daily, the rate is variable, and the credited amount arrives monthly rather than daily, so the account pays on your whole balance from the start.
What kind of account is this?+
It is an easy access account, aimed at travelers, so you can reach the money when you need it instead of locking it away for a term. The minimum deposit is $0, so the account can also be started small.
Can I use an ATM and will a credit check run?+
The account's free atm and no credit check cover free ATM access and no credit check, which suits anyone who wants to take cash out without a monthly ATM charge or a lending check at signup. If a question comes up later, support runs on email, phone and help centre.
How do I pay money in?+
Cash reloads carry a fee, while MoneyLion Pay sends and receives between accounts are free. Local payment details are listed as us ach, so paying in runs through the US system. The account is built for travelers rather than for holding many currencies at once.
Who runs the account and where do I get help?+
The company behind the account is MoneyLion Technologies Inc., based in the US and founded in 2013. Help is available on email, phone and help centre, so a phone call, an email, the help centre and the community are all listed ways to get an answer.
Sources
- moneylion.com checked September 26, 2026
Backs: Founded, Legal entity, Support channels
“(c) 2013 - 2026, MoneyLion Technologies Inc. All Rights Reserved.”
- moneylion.com checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Rate type
“Interest compounds daily and is credited monthly.”
- moneylion.com/checking-accounts/roarmoney checked September 26, 2026
Backs: Features, Currency conversion fee, Transfer fee
“You have access to 55,000 free Allpoint ATMs, but if you use an ATM that is outside of the Allpoint network, you will incur an ATM fee of $3 ... No, we don't check your credit history when you apply...”
- moneylion.com/licensing checked September 26, 2026
Backs: Deposit protection, Headquarters, Licences
“TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL: 249 West 17th St., 4th Fl, New York, NY 10011”
- moneylion.com/one checked September 26, 2026
Backs: Audience, Pricing model, Monthly fee
“Enjoy no foreign transaction fees on your MoneyLion Spend card while abroad”
- moneylion.com/referrals-terms-and-conditions checked September 26, 2026
Backs: Local account details
“made by the Referred Individual's employer, payroll provider or benefits payer in the form of an Automated Clearing House (ACH) direct deposit”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Currencies.
Related by the facts
MoneyLion
An easy-access account paying a variable rate on the balance, with no minimum to earn it.