Safe cash advance for Social Security recipients

cash advance for social security recipients

If you’ve ever found yourself asking, “Can I get an advance on my SSI check?” the answer may surprise you. Although many lenders only work with people who have traditional paychecks, some do offer cash advances for Social Security recipients. If you rely on your Social Security payments to get by, these advances might help you get through an emergency or just a tight week.

Can I get an advance on my SSI check?

Everyone looks for financial security. For many retirees, that comes in the form of their monthly Social Security benefits. But if a medical emergency or sudden oil leak pops up, you can’t always wait until your next check arrives. 

That’s where Social Security payday loans come into play. Nowadays, many lenders recognize SSI checks as acceptable income to get a loan. However, many impose restrictions on your ability to borrow. Worse than that, some traditional cash advance lenders engage in predatory practices that lead to high fees and interest charges. 

If you’re searching for payday loans for SSI recipients, keep the following tips in mind. 

What about work verification?

It’s great to have quick access to money, but if you don’t work, or you receive SSI benefits as the bulk of your income, then how do you qualify?

Unfortunately, many organizations don’t recognize SSI deposits as eligible income. But MoneyLion does. We set your advance limit on your deposit schedule and account transaction history. 

How long before you have to repay a cash advance?

Most of the time, you are expected to repay your cash advance on your next payday. With MoneyLion, as opposed to other places you might get an advance, we cut all unnecessary costs with our 0% APR InstacashSM cash advances.

Tips for getting a cash advance for Social Security recipients

If you’ve never gotten a cash advance for Social Security recipients, you may be unsure how to proceed. Let’s unpack a few important tips. 

Get only what you need

When you apply for a cash advance, you may qualify for more than you need. While it’s tempting to take the extra cash, remember that you’ll have to repay every penny. As such, you should only accept an advance that’s enough to tide you over until payday

Pay back on time

If you don’t repay your Social Security payday loan, you may have to pay fines, fees, and rollover penalties depending on the lender. And the longer you wait to repay, the more charges you’ll rack up. 

Eventually, the lender may ding your credit score, which indicates to future lenders that you’re a liability. Some lenders may even take you to court.

Fortunately, you can avoid this kind of mess by repaying your loan in full and on time. 

Make sure they are a legit lender

Many loans today originate online. While borrowers enjoy the convenience of getting a loan from their living room, it’s also easier for fake lenders to pose as legitimate operations. Watch out for scams that have poor or no reviews, require “advance fees,” or operate shady websites. 

With MoneyLion, you always know you’re working with a legitimate service. 

Instacash and Social Security 

Affordable cash advances for Social Security recipients can be hard to come by. Let’s look at the differences between MoneyLion’s Instacash cash advance and traditional cash advance products. 


You can get an advance limit of up to $250 with initial disbursement of $50 to $100 if you demonstrate you receive direct deposits in your linked bank account. You can be approved for up to $1,000 as part of MoneyLion Safety Net when you open a RoarMoneySM account with recurring direct deposits.

There’s no APR or credit check required. All you’ll need is:

  • MoneyLion account 
  • Active checking account that’s at least two months old
  • History of regular deposits and a positive balance
  • And for access to up to $1,000, a RoarMoney account. (You need recurring direct deposits to qualify.)

Traditional cash advance lenders 

Unfortunately, many cash advance practitioners engage in predatory practices. For instance, they may charge APRs as high as 400% or even 600% in some cases. Certain payday loans for SSI recipients also take the form of title loans, which usually involve you agreeing to give up your car if you can’t pay. 

Can you get an advance on my SSI check? With MoneyLion, you can!

Social Security recipients are often on a fixed income, which means that occasionally having access to a little cash may help them get through tough times. 

But instead of opting for a lender with predatory practices and high fees, try a 0% APR MoneyLion cash advance instead. Our no hidden fees, easy qualification requirements, and added RoarMoney perks make our cash advances ideal for SSI recipients.


Can I cash out my Social Security early?

The earliest you can cash out your Social Security is at the age of 62, though you’ll receive more money if you wait until you’re 70.

Can payday loans take you to court?

The short answer is yes! Payday lenders can sue you if you default on your loan. But MoneyLion allows you to defer your repayment date once per direct deposit period to make life simple!

Can payday loans take your Social Security?

Nope! Payday lenders cannot garnish your Social Security to cover your debts.

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