MoneyLion and Chime are two of the most popular fintech apps in the U.S., but they’re built around different ideas of what a financial app should do. Chime keeps it simple — fee-free banking, early paycheck access, and a credit-builder card. MoneyLion goes wider, stacking cash advances, investing, credit builder loans, and banking all in one place. This side-by-side breakdown covers 14 key factors so you can see exactly where each app wins, where it falls short, and which one fits your financial situation.
Quick Comparison Table
| Factor | MoneyLion | Chime |
|---|---|---|
| Cash Advance | Up to $500 (Instacash) | Up to $200 (SpotMe) |
| Monthly Fee | $0–$19.99 | $0 |
| Express Transfer Fee | $0.49–$8.99 | $0 |
| Checking Account | Yes (RoarMoney) | Yes |
| Savings Account | Limited | Yes (high-yield) |
| APY on Savings | Varies / low | ~2.00% |
| Credit Building | Yes (Credit Builder Plus) | Yes (Credit Builder card) |
| Investing | Yes | No |
| Overdraft Protection | Via Instacash | Via SpotMe (up to $200) |
| Credit Score Access | Yes (free) | Yes (free) |
| Budgeting Tools | Yes | Basic |
| App Rating (iOS) | 4.7★ | 4.8★ |
| Customer Support | Chat + email | Chat + phone |
| Best For | All-in-one fintech users | Simple, fee-free banking |
1. Cash Advance Limit
MoneyLion: MoneyLion’s Instacash feature offers cash advances up to $500 with no interest and no mandatory fees. The amount you qualify for scales up as you build history with the app, starting as low as $10–$25 for new users. Connecting a qualifying bank account and having direct deposit can unlock higher advance limits faster.
Chime: Chime’s SpotMe feature lets eligible members overdraw their account by up to $200 without a fee. To qualify, you need a monthly direct deposit of at least $200, and your limit starts at $20 and grows based on your account activity. SpotMe is automatic overdraft coverage, not a standalone advance you can request anytime.
2. Monthly Fees
MoneyLion: MoneyLion’s core features — including Instacash at basic limits and the RoarMoney account — are available for free. The Credit Builder Plus membership costs $19.99/month and unlocks higher Instacash limits, a credit builder loan, and other perks. You only pay if you want the full suite of credit-building tools.
Chime: Chime charges no monthly fees — no minimum balance, no maintenance fee, no hidden charges. There’s no premium tier or paid subscription at all. This makes Chime one of the cleanest, most transparent fee structures in the neobank space, which is a major reason it has over 20 million users.
3. Express / Instant Transfer Fee
MoneyLion: MoneyLion charges a fee for instant Instacash delivery, ranging from $0.49 to $8.99 depending on the advance amount. If you’re willing to wait, standard delivery is free and typically arrives within 1–3 business days to an external bank account. RoarMoney account holders get faster standard delivery as a perk.
Chime: Chime does not charge for instant transfers within its ecosystem — SpotMe coverage is applied automatically with no express fee. For external transfers via its Pay Anyone feature, standard ACH is free. Chime’s zero-fee structure applies across the board, making it one of the most cost-effective options for users who hate surprise charges.
4. Banking Account (Checking & Savings)
MoneyLion: MoneyLion offers the RoarMoney account — a fully functional mobile bank account with a Mastercard debit card, no minimum balance, and access to over 55,000 fee-free ATMs. However, MoneyLion’s savings features are limited compared to dedicated neobanks, with no standalone high-yield savings account prominently offered.
Chime: Chime provides both a Checking Account and a Savings Account under one app, making it a more complete banking replacement for most people. The Savings Account includes an automatic savings feature (round-ups and percentage-based saves from paychecks), and both accounts come with a Visa debit card. The banking experience is clean and well-designed for everyday use.
5. APY on Savings
MoneyLion: MoneyLion does not lead on savings yield — its RoarMoney account doesn’t offer a competitive high-yield savings rate as a core feature. While there are some savings-adjacent features within the app, users primarily focused on growing savings through APY will find better options elsewhere. This is a clear weak spot compared to Chime and other neobanks.
Chime: Chime’s savings account offers around 2.00% APY, which isn’t the highest in the market but is meaningfully better than most traditional bank savings accounts at 0.01–0.10%. Combined with automatic savings tools, Chime makes it easy to grow a balance passively over time. APY rates are subject to change, so always check Chime’s current rate before opening an account.
6. Credit Building Features
MoneyLion: MoneyLion’s Credit Builder Plus membership ($19.99/month) includes a small credit builder loan that reports to all three major credit bureaus — Equifax, Experian, and TransUnion. A portion of your monthly payment is held in a Credit Reserve Account that you get back at the end of the loan term, making it function like a forced savings tool alongside the credit benefit.
Chime: Chime offers the Credit Builder Visa secured credit card, which works differently — you move money into a secured account and spend against that balance, with no interest charges and no annual fee. Chime reports your payments to all three bureaus, and because there’s no hard credit pull to open the card, it’s accessible even if you have a thin or damaged credit file.
7. Investing Options
MoneyLion: MoneyLion includes managed investing directly in the app — you can open an investment account and get access to a portfolio of ETFs with as little as $1. It’s a passive, robo-advisor style approach, which is a good fit for beginners who want to start investing without picking individual stocks. This is one of the clearest differentiators MoneyLion has over Chime.
Chime: Chime does not offer any investing features. It is purely a banking and savings app, with no brokerage account, no ETFs, no crypto, and no robo-advisor. If investing is important to you, you’ll need a separate app alongside Chime. For users who want everything in one place, this is a meaningful gap.
8. Overdraft Protection
MoneyLion: MoneyLion’s overdraft protection comes through Instacash — if you’ve set up an advance, it can act as a buffer when your balance runs low. However, it requires proactive setup and isn’t as seamless as a true overdraft cover. RoarMoney account holders with Instacash enabled get the most friction-free experience when their balance dips below zero.
Chime: SpotMe is Chime’s overdraft protection, and it’s automatic once you qualify. If your account goes negative, Chime covers it up to your SpotMe limit ($20–$200) with no fee, and the next direct deposit repays it automatically. It’s one of the smoothest overdraft experiences in fintech — no action required on your part once it’s enabled.
9. Credit Score Monitoring
MoneyLion: MoneyLion provides free credit score monitoring through its app, pulling your score from TransUnion. You get a credit score tracker, tips for improvement, and alerts when significant changes happen to your report. This is included at no cost, even if you’re not a Credit Builder Plus subscriber.
Chime: Chime also offers free credit score monitoring, giving members access to their TransUnion score directly in the app. The feature is straightforward — you see your score, its trending direction, and factors affecting it. While neither app offers full three-bureau monitoring for free, both cover the basics well enough for most users.
10. Budgeting & Financial Tools
MoneyLion: MoneyLion includes a financial tracking dashboard that shows spending patterns, upcoming bills, and financial health insights. The app’s “Financial Heartbeat” feature gives you a score based on spending, saving, and borrowing behavior. It’s more robust than a simple transaction list, though it’s not as deep as dedicated budgeting apps like YNAB or Mint.
Chime: Chime’s budgeting tools are minimal — you get transaction history, spending notifications, and automatic savings features, but no category-based budgeting or financial health scoring. Chime is designed to be simple, and that simplicity cuts both ways: the app is easy to use, but power users who want detailed financial analytics will find it lacking.
11. Eligibility & Requirements
MoneyLion: To access Instacash, you need to connect a bank account with at least 60 days of history and recurring deposits. No minimum credit score is required. For Credit Builder Plus, you pay the monthly fee and MoneyLion performs a soft credit check only — no hard pull. This makes MoneyLion accessible to people across most credit situations.
Chime: Chime has very low eligibility barriers — you need to be 18+, a U.S. resident, and have a valid SSN. There’s no credit check to open a Chime account. SpotMe eligibility requires a qualifying direct deposit of at least $200/month. The Credit Builder card requires an existing Chime Checking Account and an active direct deposit. Overall, Chime is one of the most accessible accounts to open.
12. App Experience & Ratings
MoneyLion: MoneyLion holds a 4.7-star rating on the Apple App Store and 4.6 on Google Play. Users frequently praise the all-in-one experience and the ease of accessing Instacash. Common complaints include customer service response times and the complexity of understanding which features require a paid membership versus which are free.
Chime: Chime holds a 4.8-star rating on the Apple App Store and 4.7 on Google Play, making it one of the highest-rated neobank apps. Users love the simplicity, the clean interface, and the reliability of SpotMe. The most common complaints relate to account closures and disputes, which can be slow to resolve through digital-only support.
13. Customer Support
MoneyLion: MoneyLion offers customer support via in-app chat and email. Response times can vary, and some users report delays during high-volume periods. There is no publicly listed phone number for general support, which frustrates users who prefer to speak to a person when something goes wrong with their account or advance.
Chime: Chime offers in-app chat, email, and a phone support line available daily. The availability of phone support is a notable advantage over many neobanks that are chat-only. That said, wait times during peak hours can be long, and complex issues (like account freezes) have been a pain point for some users based on reviews.
14. Final Verdict — Who Should Use Which
Choose MoneyLion if you want more than basic banking — specifically if you need a higher cash advance (up to $500), want to build credit through a credit builder loan, or want to start investing without opening a separate brokerage account. MoneyLion is the better choice for someone who wants an all-in-one financial app and doesn’t mind paying $19.99/month for the full feature set.
Choose Chime if you want a completely free, simple, and reliable banking experience with no fees, solid savings APY, and seamless overdraft coverage through SpotMe. Chime is ideal for people who want to replace their traditional bank account without complexity — especially anyone who values an easy-to-use app and doesn’t need investing or large cash advances.