- First, make sure you have enrolled in MoneyLion's Zero-Fee Checking account. For members, there's no fee to open an account, and you'll never get hit with any bank fees like overdrafts or minimum balance fees.
- Second, set up a direct deposit into your MoneyLion Checking account, which you can do quickly in the MoneyLion app or through your employer. Find how-to steps here.
If you add direct deposit, your Instacash limit will be based on the amount of your direct deposit:
- Your Instacash limit is 30% of your recurring direct deposit amount per pay cycle.
- For example, if you are paid bi-weekly and directly deposit $500 per paycheck into your MoneyLion Checking account, your Instacash limit will be $200 per pay period.
- If we cannot determine if the direct deposit in your MoneyLion checking account is regularly recurring (i.e with a standard pay frequency of either weekly, bi-weekly, semi-monthly or monthly) you'll have access to a lower amount but not less than $50.
If you ever decide you want an even higher Instacash amount (who wouldn't!) after you set up a direct deposit, you can increase the amount of your direct deposit to further raise your available Instacash limit (up to $250). It's easy to do this in the app anytime or through your employer.