How do I set up direct deposit?

Benefits of setting up direct deposit

Setting up direct deposit into your MoneyLion Checking account is easy, and there are many benefits:

  • You can unlock up to $250 in 0% APR Instacash advances
  • You'll get 1,000 points toward gift cards
  • You'll be funding your account automatically

How to set up direct deposit

You can choose to have all of your paycheck, a percentage of your paycheck, or a flat dollar amount from your paycheck go directly into your MoneyLion Checking account. You'll need to deposit at least $250 to unlock Instacash, and the higher your direct deposit amount, the more Instacash you will unlock.

Step by step:

  1. Open the MoneyLion app and go to the Finances tab.
  2. Tap the Instacash button at the top.
  3. Click on the banner to "Add direct deposit in seconds!"
  4. Click on the "Update Direct Deposit" button.
  5. Select your employer, or enter your employer name, and follow the steps as directed.
There are two other ways to manage your direct deposit in the MoneyLion app as well:
  • From the Finances tab, tap the Instacash button. When the Instacash screen opens, tap "Get More" and follow the steps.
  • From the Finances tab, tap on the "More" button to open the "More Options" screen. Scroll down and tap "MoneyLion Checking." Then tap "Manage direct deposit" and follow the steps.  
Lastly, many members find it very easy to just set up direct deposit with your employer. You can do so by logging into your employer or payroll website (such as ADP or Zenefits), or by providing this form  to your HR department. 

 

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