Examined Sep 18, 2026 Cash or points, MoneyLion decides No link we may carry MoneyLion's referral pays a new user $5 for opening a Spend account and $50 more only after a real paycheck of $100 or more has landed there twice within 60 days.
The terms add a condition MoneyLion's marketing page leaves out: “The form in which each Reward is awarded shall be determined by MoneyLion in its sole discretion.” The two forms are cash or Reward Points.
What pays what
| You, registering with a friend's code and opening a MoneyLion Spend account | $5 |
|---|---|
| You, after a payroll switch and two direct deposits of $100 or more within 60 days | $50 |
| Anyone who has, or has ever had, any account with MoneyLion | $0 |
| Registering without a code, or adding one afterwards | $0 |
| Funding the account from Venmo, PayPal, Cash App, a bank transfer or a tax refund | $5 only |
Referred Individuals who currently have any account with MoneyLion or have previously had any account with MoneyLion are not eligible to participate in this Promotion.
The clause says any account, not any Spend account. If you once used another MoneyLion product, assume you do not qualify. Each referred person can earn each bonus once.
Do this, in this order
- Get the code from someone you actually know, and have it in hand before you download the app. The terms limit referred individuals to people with a direct, personal and non-commercial relationship with the person whose code they use, and MoneyLion reserves the right not to honor, or to seek the return of, a reward solicited in a way that does not fit the terms. That is why no code appears on this page.
- Enter it when the app prompts you during registration. The terms are blunt: “A Referred Individual cannot change or add a referral code after registering to become a MoneyLion user.” Skip the prompt and you are not eligible. If you type a valid code other than the one you were given, you still get your reward.
- Open the MoneyLion Spend account, then switch your paycheck the same week. Opening the account completes the $5 step. The account is provided by Pathward, National Association; MoneyLion describes itself as a financial technology company, not a bank. The 60 days run from the day the Spend account opens, not from the day your employer processes the change. You need two deposits of $100.00 or more inside that window.
- Leave the account open and in good standing until the money shows. Cash is due within fourteen days of completing the action, subject to delays. “A Participant may forfeit their Reward if their MoneyLion Spend account is not in good standing, including if it is closed, suspended or was not opened, or is otherwise unable to receive the Reward, as determined by MoneyLion in its sole discretion.”
- Know that your friend will see what you did. By entering the code you accept that the code's owner will learn you registered, opened a Spend account and received the two deposits.
If the reward arrives as points
The Rewards Program terms, updated as of July 28, 2025, set the rate: “Each Reward Point is the equivalent of $0.01.” At 100 points to the dollar, $55 would be 5,500 points. They also say: “Notwithstanding any such terminology, Rewards Points are earned as points and have no cash value until they are redeemed pursuant to these Terms and Conditions.” You can redeem once you hold 100 points, into a Spend account or a MoneyLion investment account. MoneyLion may cap redemptions, and names a daily limit of $100 per user. Unredeemed points expire 365 days after you last earned any, or on the day your MoneyLion account stops being in good standing. There is no fee to earn points, but the terms warn that the monthly account administrative fees of the account you redeem into will apply, and they do not state the amount.
Where MoneyLion's pages disagree, and what it does not publish
Who may refer. The terms open the program only to users who receive an invitation to take part directly from MoneyLion, by official email or in the app, and who hold a Spend account in good standing. The marketing page tells any reader to open the app, tap Referrals and invite friends, and mentions no invitation.
When it began, and when it ends. The terms say the program begins on December 20, 2024. A footnote on the marketing page says the referral promotion runs from August 1, 2024. Both say it ends at a date MoneyLion will determine in its sole discretion, and the terms add: “In its sole discretion, MoneyLion may change or terminate this Promotion at any time without notice to you.”
Old versions sit on the live terms page. Below the current terms, the same page still prints a 2022 to 2024 version, which ended on July 31, 2024, and a December 2021 version. The 2022 to 2024 text labels the $5 credit a “$10 Bonus”.
Fees and extras. The terms allow an Additional Bonus from time to time, as communicated in the app, with no amount stated. Footnotes on the marketing page describe a MoneyLion One membership at $9.99 per month, or $0 per month with at least $500 in eligible direct deposits during the previous 30 days; the referral terms do not say whether the bonus needs it. Rewards can be withheld or clawed back if MoneyLion believes the rules were broken, taxes are yours, and the Terms of Service, updated June 2026, include mandatory arbitration.
Is it worth your time?
If a friend's app shows the offer and you were already thinking of moving your paycheck to MoneyLion Spend, take the code: $55 for something you were going to do is fair, and the terms are published and specific.
If you would be moving your paycheck only for the bonus, it is thin. The bank offers examined on this site pay several times as much for the same chore, and here the $50 can arrive as points with a daily redemption limit and a 365-day expiry. If you will not switch payroll at all, the offer is $5.
