Cashing Out Moneylion Investments: A Step-By-Step Guide

MoneyLion is a fintech company that offers lending, financial advisory, and investment services to consumers. The company's goal is to rewire the financial system and give everyone the power to make their best financial decisions. MoneyLion offers a flexible account linking process that supports traditional bank accounts and credit union accounts for direct deposit. MoneyLion also works with Cash App, PayPal, Venmo, and Cash App so you can easily move money between these apps seamlessly. MoneyLion offers various ways to cash out your investments, including through its MoneyLion Instacash feature, which provides cash advances to users.

How to transfer money from MoneyLion to Cash App

Yes, you can transfer money from MoneyLion to Cash App. Here is a step-by-step guide on how to do it:

Step 1: Install the Apps

Make sure you have both the MoneyLion and Cash App apps installed on your smartphone.

Step 2: Open the MoneyLion App

Open the MoneyLion app and sign in to your account or create a new one if you don't have one already.

Step 3: Navigate to the "Finances" Tab

In the MoneyLion app, navigate to the "Finances" tab.

Step 4: Link Your Account

Look for and click on the "Link Account" option. Then, choose "Cash App" from the list of supported banks and financial institutions.

Step 5: Provide Your Cash App Login Credentials

When prompted, enter your Cash App login credentials, including your email address or mobile phone number, along with your unique password.

Step 6: Verify the Connection

Once you have connected the two accounts, verify that they are linked by checking if the balance information or transaction history is syncing between MoneyLion and Cash App.

Step 7: Initiate the Transfer

To transfer money, go to the Cash App's "Transactions" tab and click on "Add Funds."

Step 8: Enter the Amount

Input the amount you wish to transfer from MoneyLion to Cash App, ensuring it is within your available balance.

Step 9: Confirm the Transaction

Review and confirm your transfer request by clicking on "Confirm Transfer."

Step 10: Wait for Completion

The money will be transferred instantly or within a few minutes from your MoneyLion account to your Cash App balance.

Additionally, you can also perform an instant transfer by adding your Roar Money card to Cash App. Go to the page that shows your balance in Cash App, enter the amount, and add it. The funds will instantly be available in your Cash App balance. Alternatively, you can use the Cash App routing and account number to perform a manual bank transfer, which will take a few days.

How to link MoneyLion to Cash App

Yes, you can link your MoneyLion account to Cash App for easy money transfers and more efficient account management. Here is a step-by-step guide on how to do this:

Step 1: Install the Apps

Download and install both the MoneyLion app and the Cash App on your smartphone.

Step 2: Open the MoneyLion App

Open the MoneyLion app and sign in to your account. If you don't already have an account, create one.

Step 3: Navigate to the "Finances" Tab

In the MoneyLion app, navigate to the "Finances" tab.

Step 4: Click on "Link Account"

Look for and click on the "Link Account" option.

Step 5: Choose "Cash App" from the List

Select "Cash App" from the list of supported banks and financial institutions.

Step 6: Provide Your Cash App Login Credentials

When prompted, enter your Cash App login credentials, including your email address or phone number and password.

Step 7: Verify the Link

Once connected, verify that the accounts are linked by checking if your balance information or transaction history is syncing between MoneyLion and Cash App.

By linking your MoneyLion and Cash App accounts, you can take advantage of benefits such as personalised financial advice, cashback rewards, and budgeting tools. Additionally, you can easily transfer funds between the two accounts.

How to Transfer Money Between MoneyLion and Cash App:

Link Your Accounts:

Ensure that your MoneyLion account is linked to Cash App by selecting your RoarMoney account as the funding source in the Cash App.

Verify Your MoneyLion Debit Card:

Double-check that you have added your RoarMoney debit card to the Cash App, as this is necessary for transferring funds.

Initiate the Transfer:

In the Cash App, navigate to the "Transactions" tab and click on "Add Funds."

Enter the Amount:

Input the amount you wish to transfer from MoneyLion to Cash App, ensuring it is within your available balance.

Confirm the Transaction:

Review and confirm the transfer request by clicking on "Confirm Transfer."

Wait for Completion:

The money will be transferred instantly or within a few minutes from your MoneyLion account to your Cash App balance.

How to get a MoneyLion loan

MoneyLion is a fintech company that offers lending, financial advisory, and investment services to consumers. To get a MoneyLion loan, you can follow these steps:

Step 1: Sign Up for a MoneyLion Account

Create a MoneyLion account by signing up with your full name and address. You can do this on the MoneyLion website or through their mobile app.

Step 2: Choose Your Membership

MoneyLion offers a free basic account that provides access to a zero-fee checking account and an investment account. With this account, you may also be eligible for 0% APR for cash advances of up to $250.

If you're interested in a loan, you'll need to sign up for the Credit Builder Plus membership, which costs $19.99 per month. This membership includes all the benefits of the basic account, plus access to credit-builder loans.

Step 3: Apply for a Credit-Builder Loan

Once you have a MoneyLion account and the Credit Builder Plus membership, you can apply for a credit-builder loan of up to $1,000. MoneyLion will review your finances and a linked checking account to determine your approval and loan amount.

MoneyLion does not perform a hard credit inquiry for this type of loan, so it may be a good option if you're working on building your credit.

Step 4: Receive Your Funds

If approved, MoneyLion will deposit the loan amount into an account of your choosing. You may get immediate access to some or all of the loan funds, with any remaining funds placed in a reserve account until the loan is paid off.

The time it takes to receive your funds depends on the account you choose for the deposit. Deposits to a third-party checking account may take up to three business days, while choosing a MoneyLion debit card or checking account may provide faster access to the funds.

It's important to note that MoneyLion has received some complaints about issues with loan payments and customer service. Be sure to review the terms and conditions carefully before proceeding with any loan application.

How to get a MoneyLion Instacash advance

MoneyLion's Instacash feature provides a quick way to secure funds for unexpected expenses without the burden of interest charges. It is a good option when you need cash fast but have incoming money soon. Here is how to get a MoneyLion Instacash advance:

• Download the MoneyLion app: The MoneyLion app is available for free on Android or iOS devices.
• Link a checking account and verify your identity: You can link an external bank account or a RoarMoney account. The latter gives you access to a higher cash advance limit of up to $1,000, but it has a monthly fee of $1. To verify your identity, you will need to submit an official ID or a picture of yourself holding your ID.
• Request your advance amount and delivery speed: Click on the "Instacash" button, then tap "Request". Your limit will depend on factors such as the amount and frequency of your recurring deposits. You can only withdraw in $100 increments. After selecting the amount, you can choose between standard deposit (free) or expedited deposit (fee applies).
• Wait for your disbursement: Standard delivery takes 12 to 48 hours for funds to be deposited into a MoneyLion RoarMoney account and three to five business days for an external checking account. Turbo delivery can get your funds to you much faster, but it comes with a fee ranging from $0.99 to $7.99, depending on the amount and the type of account.
• Settle your balance: Your Instacash withdrawal will be due around the same date as your next recurring deposit, usually within two weeks. If you cannot pay the full balance due to unforeseen circumstances, you can defer your payment for up to two weeks.

Please note that to qualify for Instacash, your linked checking account must be registered under your name, have been active for at least two months, have a positive balance, and receive regular deposits. Additionally, MoneyLion will need to verify your identity, but there is no credit check involved.

How to get a MoneyLion debit card

To get a MoneyLion debit card, you must first be a MoneyLion member. You can become a member by downloading the MoneyLion app or by checking it out in the app store.

Once you have the app, you can apply for a MoneyLion debit card by following these steps:

• Go to the Main Menu by clicking on your profile picture on the top left of your home screen in the MoneyLion app.
• Once in the Main Menu, select "Wallet" from the menu.
• Once you are in your "Wallet", click on "Add a payment method".
• Select "Debit/Credit Card" from the options.
• Enter your card number, expiration date, and CVV. Please note that you cannot add an expired card.
• Verify that the billing address you entered matches the address your bank has on file. If it does not match, you will need to update your address with your bank first and then try again.
• If there is any inconsistency with your card number, expiration date, or CVV, you will be asked to verify the details and enter card and address information again.
• If you continue to have issues adding your debit card, you can contact MoneyLion for support.

It is important to note that currently, only US phone numbers and US addresses are accepted by MoneyLion.

Frequently asked questions