MoneyLion vs SoLo Funds

MoneyLion and SoLo Funds both land on Depends.

MoneyLion

Depends

Confidence: Medium

Worth it only if you need a small payday advance and have no cheaper option . use free features, avoid paid memberships.

Depends

Confidence: Medium

Use it only as a last-resort small-dollar advance if banks and credit unions have turned you down . average cost is 17% plus a 10.4% average tip.

MoneyLion versus SoLo Funds
Compare	MoneyLion	SoLo Funds
Verdict	Depends	Depends
Best for	Gig workers and hourly earners awaiting payday	Borrowers denied by banks needing small cash fast
Who it's not for	Anyone averse to recurring membership fees	Lenders expecting reliable returns . Reddit reports defaults
Privacy	2021 credential-stuffing attacks locked accounts; a 2022 CFPB enforcement action and a Massachusetts breach filing exist.^⁷	No confirmed public vulnerabilities found in the sources reviewed; a user-reported data leak circulates on Reddit, and Maryland regulators filed a case.
Support quality	Advertised 24/7 care; users report slowness	Three support channels but active BBB complaints.
Public sentiment	App-store reviewers largely praise the experience, while Reddit and Trustpilot users complain about fees, slow support, and borrowing loops.^¹	Borrowers often like the fast cash, but Reddit lenders report defaults and fee complaints recur across BBB and Reddit.¹⁴
Biggest gotcha	Class action alleges interest disguised as fees; compute the full cost of any advance^⁶	'Optional' tips average 10.4% on top of 17% cost . real borrowing cost exceeds the pitch¹³