MoneyLion
reviews and complaints

Poor Service for Loans- membership expensive and REPAYMENT- from your bank account taken: INSTANTLY
LOAN PAYOFF- from your bank account taken : INSTANTLY
Processing that INSTANT LOAN PAYOFF- 7 to 10 business days

Poor Service App: to many steps to follow to use the Moneylion App to get anything done, the App does not work correctly- constant computer glitches in the App (freezes up/ tells you to continue to next step and wont let you advance)

Poor Customer Service:
For what MONEYLION charges US as customers and it is ALOT
Trying to speak to Customer Service went from holding an extended length of time (sometimes the phone even hung up on you after holding for an hour or more or went to voicemail after holding a long time)
To NOW having to try to navigate through choices on the phone because Moneylion Customer service no longer wants to talk to you- everything is suppose to be done on the raggedy App thats not working half of the time and then you have to jump through hoops pressing all kinds of buttons hoping you get to speak to a live person(EVERY ISSUE CANT BE RESOLVED ON AN APP), and then finally getting a customer service rep that has probably been outsourced to discuss issues about our AMERICAN MONEY with reps that all have accents that are so heavy that you cant even understand what the heck they are saying ( takes forever talking to them because you have to keep saying “what did you say?”) and then Moneylion does not have the COMPUTER service for these reps to be able to press a button and instantly do anything( for what they charge us customer- the rep should be able to take a payment anytime- they cant: “the computer wont let me today, it will let me next week though,” cant reactivate an account that is in good standing or reactivate a service on the app due to “ computer glitch” - they want you to screen shot the app and email it in or you have to wait 7-10 days- foolishness!

Moneylion - HAS WENT DOWN IN CUSTOMER SERVICE and will lose my business after repayment of this loan plus
Due to the change in your policy MoneyLion absolutely will not be charging me per State I live in to get a loan plus - money gouging foolishness- please remember there are now many APPs out here that do offer pay advances until your next paycheck, without having to pay to jump though hoops, link your CURRENT BANK ACCOUNT with what Moneylion pretends to offer as a full service banking/card .

I saw an advertisement for MoneyLion as I was scrolling through my Facebook feed. It advertised a free investment account where you can control how much you invest. It seemed perfect for an inspiring first time investor like me because I was looking for an investment program that would let you invest at your own speed. Most of them want you to enter an initial minimum amount, and most times that amount is too hefty for my budgeting and expenses.

I clicked on the MoneyLion advertisement for more information, which you can’t really see until you create an account. It advertises all these great things. Free checking account, free investment account, low percentage credit builder loans. So, I create an account but find out to have an investment account, you need to sign up for the checking account as well. I don’t need the checking account. I already have a bank. But since it was free, I signed up anyway.

Finally get into the account and try to begin investing. I try to connect my bank so I can start with $5. Won’t connect my bank. Then I find out that in order to use the investment account, you need to be a PLUS Membership subscriber. I find out that to do essentially ANYTHING with this account, you need to me a premium subscriber. And guess what? The membership is $19.99/mo! So, I have to pay $20/mo just to invest?

That’s when I really start doing some researching and reading reviews to find out it’s all a marketing scheme to trap you financially. So, basically, unless you’re a premium membership subscriber, the only thing you CAN do is browse the cards and read the information they have. You know; the cards that you are supposed to scroll through if you want the $1/day. Which, by the way, that feature is only allowed IF you’re a premium membership subscriber.

So I basically wasted my time creating this account, as all it is is a paperweight for me because NO WAY will I subscribe to that expensive membership program. And I’m glad I didn’t get suckered into those “low percentage” credit builder loans after reading the complaints from people who have fallen into that trap.

Now, after finding all of this out, I have been trying to close this account, but there is no option for it. Not even in the FAQs. No phone number to call of course. Just support tickets and it seems like they cover EVERY area except how to close the account. I received the card for the checking account that I will not activate, I refuse to link my bank. I just want to close this account.

I’ve had this app and have borrowed money from MoneyLion for about four months now I already have almost as much in my stock account as I have borrowed. Now that was my decision not theirs but they do if you have the MoneyLion plus account make you put in so much every month into your stock account however you can put in more every day if you want to as well as if you go onto the app and look at it and read the financial advisor they will give you a free dollar every day to add to your account which adds up after time so that is $30 every month for free without having to do anything besides look at the freaking app! Honestly I don’t think you can beat that! I borrowed 500 and I have over 500 in my Stocks. I’m getting ready to be paid off and once I have done that it adds to my credit report which is also a great thing! Not only that you don’t have to reapply if you need another alone and you can take out a bigger one, and it stays at the same rate 5.99 % which really you cannot be compared to most loans site when you have bad credit. Now my credit is not horrible but is not great it is in the 600s. I plan on taking out another loan after this one and paying it off after a month or two to build my credit back up again it’s a quick way to build your credit up just like you would deal with a credit card on those secured cards which I also have done but this build it up even faster because you’re taking out small loans and paying them off fast. I would say that this is probably the best application that I have seen for a loan by far and have never even seen one come close to what it does by making you not only invest in your future by putting into stocks and bonds but also building your credit when you pay off your loan. It teaches you financial responsibility and it also has daily updates and reports that can show you not only how to make money on the side but also tips on how to keep your credit up to date, and like I said just by reading those which you really don’t even have to do if you don’t want to although I do but if you skim through them every day you have to wait until after 7 o’clock in the evening but it will give you a dollar every day that you do it and like I said that adds up that’s $30 a month take that times however much time it takes you to pay off your loan. So say 18 months x 30 and that’s a free 540 dollars just for looking at the app each day that goes into your stocks and bonds! In my opinion that’s an awesome thing and you cannot beat it!

Moneylion is a great service but thats where it ends as far as being great goes. If you ever need any type of customer service then you are SOL. I had the basic membership which had no features of the plus membership which was only 29/month but you get put into ban investment account if you log in every day. And the basic cost me 33/wk for the membership and 23/wk to pay back the $600 loan. I paid this for about 6 months. Strange i thought but i didnt complain because they helped me out. Fast forward to right after recieving my second loan. I had personal issues and couldnt pay them at all for 3 months. Once i was able to i logged in and was automatically enrolled in plus even though i was $300+ behind on the loan and more for membership fees. A week goes by and im charged for plus which totalled 30/wk plus 33/wk plus 23/wk and all of a sudden my dollar a day cashback isnt working and i cannot use any features of plus. So i call and im told with a back balance im locked out of features. So they enrolled me in plus which i never asked for. Charged me for it on top of what i owed and wont even let me use plus. They agreed this wasnt right and told me not to worry. Theyd get rid of my back membership fees and only have to pay the loan which was about $500 and to wait for them to calme in a few days. I wait a few weeks for a call but nothing so i call them and im told my account is now closed and my loan balance sent to collections which has in turn put a big dent in my credit score. I call them and they hang up on me never call me back or act like they have no responsibility in this. They are idiots to be honest and have the power to mess with your life in ways that are scary. Scary because their level of incompetence is so through the roof i wouldnt trust any of the people who answer the phone to mow my grass. Its an awesome service but please educate your employees. You put me in a worse financial situation than i was and turned your back on me. Very unprofessional

Update. I got an email from moneylion in response to this review. They seemed very concerned and want to really resolve the issue im having so they left me a contact phone number and email. The phone number isnt even in service and i have not gitten a response to multiple emails. They dont care about me/you. They really dont. I really regret getting involved with them because now my credit is suffering and cant get any sort of help from anyone because of my loan with moneylion. Thanks guys you did an awesome job!

I downloaded this app about a year ago. Recently there was some fraud in my Roar account where my paycheck is directly deposited. Customer service was very helpful in the dispute process and all the fraudulent activity was reversed. As part of the process they had to cancel my debit card. This was in April. I am STILL waiting on my new debit card to arrive. The virtual debit card in my Apple Wallet DOES NOT WORK AT AN ATM. I am unable to take cash out of my account anywhere DESPITE the app saying the virtual card will work at any ATM with a contactless option (Chase and Bank of America). Also, a lot of places where I live don’t take Apple Pay or virtual cards. It’s very hard to take my kids out to eat when I can’t pay for the food because I only have a virtual card for my MoneyLion Roar account.

I had no other issues with this app until March 2022. All of a sudden I couldn’t make ONE missed credit builder loan payment from the loan I took out last October. Continued to not be able to make the missed payment. Called customer service in April and it took 5 days and countless hours on hold to finally have the issue fixed and paid off the loan in full as I had the funds to do it. Turns out it is a “glitch” in the app according to Customer Service.

Now I am trying to get another credit builder loan and am approved for $1000 but can’t get the loan. Every time I click on the button to agree to the terms of the loan I get an error message that “my request has timed out and it’s not me it’s the internet”. Upon calling customer service about this I was told there is yet another “glitch” in the system. The engineers are aware of the “glitch” according to the person I spoke with. I was advised to log out, uninstall and reinstall the app, and log in again. Supposedly this will fix the glitch. What a surprise that it didn’t fix the glitch.

So now I have no access to a new credit builder loan STILL due to the glitch that has been there since March. If you are aware there is a glitch, why hasn’t it been fixed? When I spoke to customer service today I was told they were “unable” to start the credit builder loan process over the phone. It all has to be done through the app.

This glitch left me stranded today and I had to borrow money from a friend in order to get going again. No sympathy or resolution from customer care. Horrible customer service. FIX THE GLITCH. it can’t be that hard to fix ESPECIALLY if you know there is an issue.

If my issue is resolved with the credit builder loan I will consider changing my rating of this app.

Hello,
I had this bank since 2016. I love how I have many options in the app going threw credit builder all the way up to credit loans. Currently this is not where my money enters this bank. Here are some improvements I would love to see Money Lion implement.

Transfers: I wish there is a way where you can rest money from your friends threw the money lion app. Some online banking does the same things that is easy to use. I would love to see Zelle corporate with this app.

Check deposit: Yes they are third parties that you could deposit the check but I would LOVE to see an implementation in the app so everything (and should be) inside the app. I would also love a checkbook to send to my cleaning lady.

Money Lion Membership: I think it’s kinda ridiculous that customers have to pay to use insta cash wish is 10$ a month. Although chime is free the must is Max out 100$ vs 250$ but hope Money Lion can see this new transition.

Savings account: Yes I may be a little old school but I would love to have a normal savings account. The investment account is not quite for me (although we should be offers options in the app). I would love to have a plan savings.

Money lion Loan: Now this having to pay the loan is all fine, however, I don’t believe paying allot! Paying 80$ a week, plus other 5.99% APR is allot. I know SOME of the money goes to your investment account. I would rather no be charged. Like 5.99% of my 500$ loan. Money Lion should make 530$ off of me for the loan payback. They make money off your card purchase anyways so I feel it’s a little sad for doing this and the other things I mentioned above. I promise but doing that you will get MANY MORE CUSTOMERS.

Direct deposit: I WISH Money Lion incorporate receiving our paycheck 3 days early. To compete with other online banking. I feel this will be a GREAT way to get people on there side. Money Lion is trying to shape your overall financial freedom and credit building. I feel like this will be a game changer with your money.

Referring friends Rewards: It’s great having options as getting reward points. However I prefer getting money referring a friend. For every friend you refer you can get 500 points which is 10$. Really? I would rather get 50$ that other banks offer to refer. I feel like there should be more options available.

Overall I feel like this company is good but it could be better with these recommendation I have above. Please Money Lion I hope you read this. If I get even some of these I will switch back to you all and Promise me you will be my PRIMARY BANK.

UPDATE

I decided I will update this review with more and more negative feedback and one star reviews as often as I can... until I see this app losing stars.

It is truly one of the worst financial apps I have ever used. It needs to be banned asap.

I cannot stress enough on how bad their customer service is. I suddenly felt like my language is not enough communication means. I got educated about the same lame credit builder plus policy like 15 times in a row until I asked to speak to the manager. The manager literally approached me saying “so my agent said he educated you about the money lion plus policy but you still did not understand it”... lol! Turns out eventually that the manager had no idea what products they offer! He said “money lion plus and credit builder plus are two different products with two different application processes” then when I asked about money lion plus, he put me on hold for 5 min and came back saying “i just noticed we don’t offer that anymore!”

It is a joke! Please avoid this app! It is shady enough that NONE of the financial apps would link to it. None of them..

***

Dear reader, I highly recommend that you avoid signing up to this app. I truly tried to believe the rumor that moneylion is a unicorn in banking and number 1 financial fintech... but this simply cannot be true.

I am trapped in the following situation:
- There is no one financial institution/app that recognizes this bank. They claim to be part of Lincoln Savings Bank; yet you cannot use this fact anywhere. You won’t be able to connect this account to any financial assistant app.
- The app and the desktop version do not sync well. It’s been 5 months since I opened this account and I still cannot see any of my transactions when I login from my computer.
- One of the most ironic incompetences with this app is that while they claim to offer money lion plus to holders of qualifying direct deposit accounts... goodluck making that work if you chose to use money lion for your direct deposit. The app won’t recognize its own checking account‍♂️...
- of course customer service is a myth and money lion lives in its own bubble where depositing or sending checks is not an option. Same applies to emails.. it seems sending them emails is like texting your ex who’s dating again.
- The page where they refer you to bunch of 5k loans looks like a fishy casino..
- Now wait till someone passive aggressively comment on this and say “thank you for taking the time to write this review” and then refer me to their lion’s phone number :-))
... but hey, at the end.. I’m the mouse and they’re the lion :-( so I quit‍♂️.

I hope I’ll save someone from making a mistake.
Best

I have been having trouble with this apps for months . Since Nov . I have tried to add my new debit card to replace my expired one so many times and their app wouldn’t let me . Called customer service three times and they couldn’t do it or resolve the issue. Not counting how all you can hear us screaming and yelling in the background. I have to keep constantly keep repeating myself to the rep so she can hear/understand what I am trying to tell what the problem is . The worst service I have ever had. Plus I have a credit builder loan which is automatically paid from my account every month and it wasn’t being applied to my loan . But if I do instacsh it automatically relays that little loan . So now they have reported that I have not been making my monthly loan payment to my credit.Which again I have called to get this fixed and again the worst customer service people ever can’t hear , can’t understand what your saying. Today again trying to go in the app and pay off my loan again with my debit card the very one that is used to pay my instacash back or receive instacash . Does not work to pay my loan. I have never had so much trouble getting something resolved or such horrible customer service . This app never works right and the information on balances and ect are always incorrect . The thing is if you had competent people to call and he’ll you with these issues it would not be so bad . But calling their customer services is purely a waste of time. They can’t help you ! This is just a little of the problems I have had. It’s to exhaust to go into the rest of it .

I sent this a few weeks ago and I literally paid off my loan and this company keeps reporting that I am 30 days late on my loan . Am freaking mad ! First off all it was not my fault . You are suppose to automatically deduct my loan payment. Your app is broken and then you can still deduct my membership but you can’t automatically withdraw my loan payment . So they should have never been reported being that it’s your fault me developer or whoever runs this app or this company. So now that it is current and totally paid off you still just reported it 30 days late . You are messing with people’s lives by jacking up their credit when they do something good . I only signed up to help boost my score and you have done the complete opposite. Someone better correct this and they fast . I am reporting you to all the credit companies and to the ComplaintsBoard.com. Get your system straight. I have read countless reviews stating the same issues and problems I am having . You should have had this fixed a year ago and your customer services won’t be able to help anyone so stop telling people to contact them . They are a joke and the worst customer service I have ever dealt with !

Let me start by saying that the MoneyLion app and process to get a loan deserves 5 stars! Now let me get into the issue on why I am only rating it 1 star and warning other customers of what I am still currently going through with them. On Feb 8th, 2019, I paid my loan in full of $443.09, I received an email that confirmed my loan was paid in full. I called MoneyLion’s customer care and the rep said that my loan was paid off and she can close my MoneyLion plus account. A few days past and my Credit Karma notified me that a change occurred, which was my MoneyLion account was closed. On March 21 I received an email stating that my loan wasn’t paid because there was an internal processing error. I contacted my bank first to make sure the funds weren’t taken out and they explained to me that they didn’t see a transaction for the amount on my statement. I contacted MoneyLion that day to explain that I couldn’t pay it in full that day but I can within a two week window because other expense like car note, insurance and rent was more important. The rep told me that if I pay it within two weeks I should be fine because it’s not in collections. I paid the full amount within the two weeks and have bank statements and a verification email that it’s paid. During the two weeks I receive an update from credit Karma that MoneyLion reopen the account and my credit score reflected a past due, this dropped my score 114 points in both Transunion and Equifax; my on time payments for credit was 100% and then dropped to 99%. I have been calling MoneyLion customer support and have been on hold for over an hour or more, one day I was able to shower and drive to work and still be on hold. 3 customer support supervisors have tried to help me with no resolution. And since this process is taking so long my credit dropped again because now it’s reflecting 2 months of late payment. I have contacted the credit companies and they said they can’t resolve the issue until MoneyLion sends in a statement. Until this issue is resolved I will tell everyone not to apply for MoneyLion and their loans! As someone who takes care of their credit, I am disgusted by customer service and their inability to help me when there systems caused this issue! I work in customer service and I know there are times when customers are unreasonable and the issues that they have are caused by their doing, how do I have an email saying it was MoneyLions fault and yet my credit is being effected?!?! I need a resolution now because at this rate a lawsuit will be filed especially when I have an email from MoneyLion that takes accountability for their mistake but yet has not resolved it. I have already tried to contact MoneyLion via email and talking to customer service, what more can I do! I wouldn’t recommend anyone to apply because if there is an issue it won’t be resolved

This app has some pretty cool features that you won’t find on others. However don’t switch your direct deposit over to their checking account feature before you do your research! If you’re tempted to do so based off of the offers/ads you’ve seen (like I was) read on...

Instacash- firstly, their system will not recognize your direct deposit as one which qualifies for instacash unless you’re salaried. It took me being enrolled in direct deposit as an hourly employee and getting promoted to salaried 6 months later to find that out. I called about 2-5 times a week inquiring about that for the entire 6 months without a straight answer. It just started working immediately following the first paycheck after my employer switched my pay from hourly to salary.

Which brings me to another point- if you want resolutions for anything involving your account (through any method- phone/email etc) you should not expect much. I found, that because no one knew the answer to my issue, they avoided calling me or responding to my inquiries altogether... I guess hoping I would become worn down in my attempts? I’m not sure, but I wound up filing a ComplaintsBoard.com complaint - I am NOT the type of person to do that in fact I never had. I just felt so mad that I was blatantly being ignored, that it seemed the only next step. Problem is, whoever handles their ComplaintsBoard.com complaints in the corporate office, completely lied in their “resolution” stated online- They closed the complaint online before I had a chance to dispute what they said and I guess because they and the ComplaintsBoard.com then deemed it to be “resolved,” any option to respond on their site became grayed out and I was no longer able to take any action on my end. I couldn’t even leave a comment to the public stating the resolution was inaccurate.

Next- During the time (prior to the ComplaintsBoard.com) I was at least able to reach someone in their customer service department to explain. Even though the people I spoke with never knew how to handle my issue - not even their fault- at least I could talk to a human who would listen to me vent. Now, it seems they’ve done away with the customer service department altogether. Now when you call the 800 number, the automated prompt tells you you have at least a 30 minute hold time, doesn’t give you the option to hold, and tells you they’ll call you back.. then ends the call.

No one calls back. And if they are calling and you have spam call blocking like I do, you’ll never know.

Just don’t trust their checking or loan products. If you’re making a living and earning money, you should be able to easily get the answers and resolutions you need in a timely manner. I think their budgeting tools and app layout are pretty cool, but you should really just use it for that. Don’t trust a faceless, voiceless and cowardly company with your hard earned money.

Oh! For my trouble, they awarded me rewards points which equated to a $10 target gift card. Nothing more

I didn’t wanna put a review by after being advised to put this out there so people could now I do feel it’s only right just to have everyone be informed. I disputedCharges that were made to my account on four different occasions.I even asked them what it was now they didn’t tell me but they said that they would be getting back to me and informing me what they were from.They only credit me three of the four charges which was very odd then it took a really long time for it to be put into my account.Then about a month and a half later which is a few days ago I saw an email but it was in my junk folder from the team when normally I get normal messages so I thought that might’ve been a fraudulent and turns out now which that is a huge red flag.They said that there was no error but I still to this day I do not have any idea what those were from.I reached out to my actual bank that the account was linked to just to ask them a few questions and since that it was linked they did do some investigation on their own and what I found out was truly shocking.Since they never gave me any information that is a big red flag that no investigation was actually done.They were able to tell me what these charges were for and they told me that they have had to constantly reversed use for lots of customers so that that should be another issue.Also how these charges were made is clear sign of suspicious activity anyway.But really shocked me was at turns out that it MoneyLionWill send you two sites if you try to apply for loans that they’re associated with. I did not think I had any chance to fight it but turns out since I do pay for a membership and have every service that they haveI was told to report it to the federal trade commission as I did pay for a service, and the ComplaintsBoard.comOn grounds that they were unable to provide services that they’re advertising and did not have my bench interests a priority. They never asked me any IP address is if it was made from a computer or a cell phone all these things I was never question for they never even looked into seeing if it was done from my home or somewhere else and honestly I have no other choice but to personally believe that they might have some affiliation but I can’t say that for sure these are all just assumptions but I am going to be contacting you know the state that I live in because that’s where my income goes all into that account and this could be potential fraud on there and if they’re taking money from state funded benefits.This was my experience I don’t think everyone will have this one I hope nobody else has this but I just thought I’d say I’m not saying not to use them because they were great at one point and I hope they get better but this is what I’ve been going through out and the last thing I would like to add is anybody else think it’s funny that they reply back to the comments and we don’t get notifications of that. So just think about that and how they treat their customers

I actually loved this app. I love the rewards; I love the banking; I love the card; I love the fact that they got me my first loan that I was able to get approved for in years due to wrecking my credit while in college…. but what has completely killed it for me is Instacash. I was making my payments on time, I was giving tips, everything was perfect and as advertised, enabling me to go from receiving $10 to $15 to $35 to $50, each time paying the standard fee, as well as the turbo fee (to receive instantly), and leaving tips. But when I made my $50 payment it assured me that would be able to receive, up to $75 or $100 as it had done previously (eg. “”Pay and get access to MORE!”)and since that moment (I paid it 3 days early) it just completely cut me off. It repayment, charges, and tip and ever since then…..nothing but an error message: “Oops! Try again ”
I spoke with representatives on the phone and through chat (at least when they don’t randomly leave the chat without helping resolve or even answering). I’ve been told to re-link bank accounts, to re-download the app in order to make sure it’s up-to-date ~ little fixes since supposedly the cosmos has worked in an eccentric manner to stop me from using g this service. All of this and I keep getting the same error message. So what, right?
What made this particular issue so personal for me was that I came to depend on the Instacash and made my last payment on a night when I absolutely COULD NOT do so under the circumstances - the night that I re-paid the $50 I knew I was going to get $75 back only second later and so I paid the $50 not questioning for a moment that I was getting $75 back that I would then be able to repay at a later date. I was in a position without gas or money and stranded on the side of the road within 20 minutes of making my Instacash payment 3 days in advance of its due date. I haven’t been able to get any Estacash since this and for that reason it kills the entire app for me. When I needed them the most and places trust in a service I trusted would have my back, they completely shunned me for no apparent reason whatsoever.
I wish they would fix it. I don’t know what the problem is but I know that if empathy were prioritized to any degree in this company someone would have quickly recognized the validity of my plea and severity of situation on that night several weeks ago.
I’m not one to write reviews, or complain when my sandwich comes with tomato, but they’re not doing anything and with the extremely personal problems MoneyLion and Instacash was able to reach into my life and have such an impact on at the worst time imaginable, Its one of those situations where I can’t NOT say something.
I would’ve been a good customer, having cash flow through this and the other linked accounts (that are enabled by their Plaid service, anyway) of around $7,000/month. For this reason I wouldn’t recommend it to anyone whereas I would have recommended it to everyone.
If you use this app, be careful to keep any money that you NEED away from it. They know no bounds when it comes to service, assuage, then shun shamelessly.

Adam Wicker

My whole MoneyLion account is a LIE, and MoneyLion is not only fine with that, but they think I should be too. I have called, emailed, texted, called, emailed, used the Facebook page AND Messenger, called and waited and hour and here we are. I’ve had MoneyLion almost a year. I’ve been getting DDs that whole time. My account always says I never set it up. This past 3 weeks, I was determined to get someone to change that. The person/operator I finally waited an hour on hold to talk to, said this is a “known issue” and I shouldn’t worry about it. Hmm. My whole acct says “you can’t access this” or “you can’t have premium membership without DD” and on and on, but I should let my account continue to represent a lie, and I should be fine with it. That’s what I was told almost verbatim. Second, I can upgrade my account and apply for a loan...did you know that? They want me to link another account. That had DD. Even though my DD goes to MoneyLion. Now we went in circles with this one so I KNEW it didn’t make any sense. And SHE knew good and well it didn’t make any sense either, so at that point she just resorted to reading a script over and over which is what they ALWAYS do. So I started thinking about it, with all the facts laid out before me, paired with their attitude on the matter and I realized EXACTLY WHAT IT IS AFTER ALL THIS TIME...

When I said my whole account is a lie, I was right. With me actually getting DD forever now, and my whole account set up to look like I DONT, I can’t take advantage of anything they are throwing at me. The opportunity to get the premium account, the higher Instacash limit, etc. I asked her why she couldn’t just change it considering my whole account perpetrates a lie, and she said that she can’t and that it’s a “known issue”. An almost year-long “known issue” that has never been fixed. And MoneyLion, a banking institution, is okay with that. There’s only one reason that makes sense:

It’s that if the Direct Deposit was showing on my account properly AS Direct Deposit, then I would have a fully functioning premium account. With THAT, I could at least APPLY to get more money through the InstaCash or even other loan products. She kept saying I was already topped out on it at like $70. BUT I cannot apply for it to see that for myself because...again, it says I’m not receiving DDs, but it’s clear in my transaction history that I am. So this is what they’re doing:

They don’t WANT you to apply to have your limit raised with InstaCash, so they make your account still say you aren’t receiving it. So you can’t even apply. Because I think with my transaction history that I WOULD get approved, and THEY DONT WANT ME TO. IT IS ON PURPOSE, folks. They purposely don’t make your account right so you can’t apply so they don’t have to give you any more money. Period. That’s the only thing that makes sense. I’ll be moving my money back to my hometown bank and my direct deposit back there within the next two weeks. They’ve had more than enough time to fix it. It’s because they are doing it on purpose. There’s nothing TO fix.

If you are trying to deal with MoneyLion, take my advice and just go elsewhere. They’re lying to me, they’ll lie to you. Promise.

Update:
Another developer response asking e to contact them - again. Please review all the calls, emails, chats (and chats/emails staring services were shut down.) I also had service calls with Lincoln Savings, and even three way calls with Lincoln Savings and Money Lion on the same call. This has been an epic fail from the start to the finish. You already have all the info internally to audit this situation of it really mattered all that much.

Update: 5 weeks later
Support gives the obligatory apology, asking me to reach out for support.

Everyone - stay away.

Update:
Two weeks later, I had to make daily trips to atms to get money back in bits and drabs, watch for atm fees etc.
in all the conversations on how to get money back, they never mentioned connecting Money Lion FROM another bank and pull funds. I did that to get the rest of the funds out.

In all this time, not a single MoneyLion rep reached out proactively to assist or check up on the problems.

At one point I had to have a threeway call with MoneyLion and Lincoln Savings given all the blame games going on. Ended with a MoneyLion manager in a fight with a Lincoln Savings agent .

Keep in mind that Money Lion is also staffed by inexperienced, overpaid, freshly minted college grads with chips on their shoulders.

Thrilled to be finally done this horrid experience.

Update:
MoneyLion blames their partner Lincoln Savings for all the issues. Lincoln Savings states the partner relationship with Lincoln Savings extends no further than providing a routing number.

STILL UNABLE TO EXTRACT FUNDS!
Connecting any external account requires filling out a form and then it is manually handled by staff offline. What?! Precious efforts all failed at the 'manually handled' stage.

They are locking funds, blocking outgoing methods. You can link for incoming funds, not outgoing. MORE HOURS OF LIFE WASTED!

MoneyLion

SUMMARY - Stay as far away as possible, do not even flirt.

We were attracted to a promotion called "Pave the Wage" so we joined. We met all the requirements published in the terms & conditions summary on their blog post (and elsewhere.) Turns out, there was another key requirement intentionally omitted from their blog posts marketing and other materials, only available in the legalese. MoneyLion took a hard line, defending their actions and the deception of the hidden requirements . At that point we decided to leave, and we can't get our money back!

We want to quit, forget about MoneyLion and WE CAN NOT GET OUR FUNDS!

MoneyLion is an internet only financial service, tied to a bank from the 1970's by the name of Lincoln Savings. MoneyLion keeps citing Lincoln Savings for all the problems...

We can not get our money out!.
- No check mailed to address on file
- No ach
- No wires
- No authorized bank links via traditional micro deposits
- No PayPal / Venmo / PopMoney ~ not even Zelle

Weeks trying to get out of this hell nightmare. Days with support and today they best they came up with was to use the ATM card to siphon the finds slowly and close once funds are gone; low daily atm cap, which they refuse to raise.

This has been one horrible experience, from a financial service claiming to be high tech and easy...

Save yourself the pain and anguish of discovering nee pains as a MoneyLion customer.

---
THREE more days passed since speaking with both a supervisor and corporate...nothing budget since Monday.

Pros:
- 5.9% $500 Loan
- Funds deposited next day
- Incentive to Invest with Daily $1 Back

Cons:
- App is too glitchy. Opened up a checking account and activated the debit card and every other day it offers me to open one again...
- When I try to transfer funds from my main bank to the MoneyLion checking account, it says I need to re-link my account for security purposes. I re-linked the account 15 times, reinstalled the app 5 times, and it still shows the same message when trying to get funds into the account. I’ve given up.
- Rewards System is corrupt. I received 200pts every time I made a loan payment on time (weekly). Every 2,500pts is a $25 gift card from several different merchants. I currently have 2,430 and I was supposed to get another 200pts last week and I never received it. I also haven’t received my points for logging in 7days in a row. It’s like they are purposely holding it back so I can’t redeem my reward. This is BS !
- Customer Service is Terrible. It took my 20 minutes and a few google searches to find the phone number to customer service because they don’t offer the customer service number on the app. Instead, they offer an automated chat system that keeps trying to point you to the FAQ section for answers. But all my problems require human attention. So I waited on hold for 35 minutes and then got disconnected. Then I called again and waited to 25 minutes and finally connected. I expressed all of my concerns and not a single concern has been handled in two weeks. The representative didn’t know anything I was asking about and kept having to put me on hold to ask a manager or find the answers himself. So aggravating.
- Promise to report to the credit bureau but it’s been 3 months and it hasn’t shown up in my credit report. The representative didn’t know the answer to this either so he had to search for the answer and came up with this, “It gets reported on the 1st day of the third month since you sign up.” Okay, so if I’ve been using this app since November, December, January, February...and today is February 2nd...shouldn’t it have been reported already?
- THEY PUSH REFERRALS TOO HARD AND WONT REWARD YOU FOR REFERRING EVEN THOUGH THEY OFFER YOU $10 IN YOUR INVESTMENT ACCOUNT AND $20 TO YOUR REFERRAL. That’s right, I referred a friend so I could take advantage of this offer and neither of us has been rewarded in two months. Now I noticed the referral incentive has been bumped down to $5 and I still haven’t gotten anything.
- Instacash with Direct Deposit is supposedly a 10% advance on your own paycheck. I set up direct deposit and after 4 paychecks, they still won’t let me use instacash. I gave up on this too.
-App is glitchy when signing in and it has officially stopped letting my sign in with Touch ID like I used to. Now I have to put my pin in every time.
-The cats swiping feature on the home screen is annoying. You have to swipe through 5 or 8 repetitive cards before you can get to the $1 Daily cash back reward that gets applied to your investment account. Every day it’s the same crap. I already Uber as a side hustle so I don’t need to be reminded of it as an extra income. And all these cheesy repetitive articles about finances. It’s the same stuff everyday.
- Credit Monitoring is halfassed. There’s no details like credit karma and that app is free. It’s a joke. They just show you the the predicted score and and number of accounts or inquiries but NO details.

YES, I have reinstalled the app several times.
YES, I have contact customer service to express my concerns and try to have them fixed.
YES, I have logged out and logged in several times
YES, I have tried many times to troubleshoot the app and all of its features...just to find no solutions.

There’s so much more but I’ve already typed up a storm and I don’t ever leave long reviews but MoneyLion had to press my buttons for me to do this.

I would delete my account but I still owe $300 on my loan and I have about $200 in my investment but I’m leaving after I pay off my loan if they can’t address these issues.

P.S. 70 day streak.

Absolutely horrible customer service & way over priced. There are several awful things this company did but I’ll start w/ this. They owe me over $800 & won’t repay me... Literally... Their “Credit Builder” loan is a scam. For starters it’s not a loan. U pay in money but they don’t actually loan u money. And w/ most anything that u deposit money into u should always expect to get some sort of interest rate upon return right? Nope, instead MoneyLion literally still charges YOU, the person fronting the money interest. On their own money, that THEY are holding on to... makes absolutely 0 sense. Plus. You’re required to maintain a “membership” w/ them the entire time u have this “loan” open. Well they charge $10 TWICE a month. Not once a month like you’d expect nope. They charge u twice a month. Unreal. Oh yea. If u miss any of your “loan” payments, (even though you’re not actually paying anything back your really only investing in a savings account that will take a chunk of it before they give it back) This “Credit Builder” loan will literally report u to the credit bureaus ALL 3 if your 31 days late. They don’t try to call
Or even text u. Just report u. So they will jack your credit up on a credit builder loan when u owe them $0 & they are holding hundreds of dollars of your own money... make sense yet? Then. Once I finally decided that I didn’t wanna play this game anymore with them I decided to pay it all off so I could get my $$ & be done. They kept telling me I’m had to pay certain amounts before I could get the $ back. First I had to pay $60 for membership fees they claimed I missed then I’d have access to my money. Except I paid that, waited the 3-days, no $$. I called them back & they said I still owed $180 on my “loan”. So I made sure that I’d get this $$ right back & after they agreed I paid that. Now they said it’d be 10 days until I see the $$. Well 12 days later. No $$. I call them. They say they sent the $$ to my bank account I had when I opened the account. Despite me deleting it from the app months ago. They said that once the money is reversed they’ll send it to my new bank. After 3 days I called back & they said the $$ never got reversed. So I call my old bank & they tell me that if somebody tries to send money to that account it’ll be immediately rejected & there shouldn’t be any wait time to get the $$ back at all. It should be literally instant. So I call MoneyLion again. Explain this to them. Now their story changes. They claim that they already sent me the $$ to the correct account. Which they obviously didn’t. Then they refer to a $$36 deposit they sent me a couple weeks ago... now remember the $180 payment I had just paid. They were also holding over $800 for me & state’s countless times that they amount that I was getting back was around $896. The foreign customer service rep was incredibly rude. Would talk over me. Interrupt me. Kept telling me there’s no supervisor I can talk to & he’s the one in charge. Even at the end of the call there’s always a chance to give a review. He refused to hang up his line. We sat on the phone for 26 minutes silent besides me saying “just hang up the phone. You’re not going to stop me from filling a review about what u did”. Finally he had no choice & I made the review. I also made a review in “trust pilot” & they commented publicly on trust pilot saying “we would like to resolve this for u. Please provide your email so we can get in touch”. Which I did. But never heard back it’s just a stunt to make people think they’re taking care of the upset customers. Oh. I still haven’t gotten my money. Even better. I paid off my loan over 2 months ago but they haven’t reported that to my credit. In fact. Not a single payment shows up on my credit report. The “Credit Builder” Loan literally brought my credit down & they refused to report a single payment or paying it off. All they reported was 1 payment being 31 days late. Complete rip-off. Their customer service is garbage. Do not get caught in this scam. I promise u will regret it. Even their investing account is shady. Just take my word for it. RUN THE OTHER DIRECTION

UPDATE: originally had 2 stars but after the last few encounters with the app and customer service I would give a 0 if I could. I ended up paying off the loan via my bank through the app which would take a week to clear. This was on a Wednesday, June 20th, so on the app it told me the payment would clear June 26,2018. Tuesday, the 26th comes and it’s still being processed. I called they told me the Wednesday, the 27th it would clear.

I check on the 27th the app and I find that it says I had a missed payment on Friday June 22nd, the Friday after I had already attempted to pay the loan off in full and it also says pending collections so I’m very angry at this point. I call and they say they weren’t able to get the money from my account but they have been able to charge me membership (18.18) and loan payment (9.92) together which is 28.10 EVERY week which is roughly 112.40 EVERY month, since February 25th...interesting.

I was then told on the phone I could pay the loan using my debit card from the same bank they “couldn’t pull my payment from” and it would clear the same day so I did that but it kept saying my card was declined although I had more than enough to pay off the loan so I had to go transfer the money to my other debit card so I could pay it off over the phone...

Moving forward my loan is finally paid off and I question them about canceling my membership because I’m done at this point with this company. They told me I had to wait for the payment to clear from Friday, June 29th and that it should clear Monday, July 1st. It’s now Monday, July 1st and I called about cancelling the membership and they said it’s still not clear and would clear on Wednesday, July 4th. They process the payment either Wednesday or Thursday for the next payment (hopefully Thursday) so now I have to rush and call Wednesday so they don’t start on the next payment then I would have to wait on that one to clear.

I am beyond words for the company and how they handle their customers and their functions. I shouldn’t have to jump through so much hoops just to give them the money they want and end my relationship with them. It’s very frustrating and I would NEVER do business with them again. I will be calling every day until it is cleared and will cancel the membership as soon as I can otherwise it’s just going to be a never ending cycle with these people.

Do yourself a favor, if you really need the money make sure this is the last resort and you have exhausted every other option. No one in this company is ever on the same page, everything is very disorganized, you pay so much for honestly nothing and you end up paying more for what you really get in my opinion. I hope this review is helpful.

ORIGINAL REVIEW: I was excited to come across this app since I was in need of money at the time for bills and was currently falling behind. I made an account and was able to get approved for the money plus loan. The $500 came in handy which is why I have rated 2 stars but that is where the trouble began.

While signing up, I let them know I got paid weekly at my current job at the time. I’m also a nursing student so I barely work as much as it is but I figured I’d paid the full loan back before this went past two months which is still the plan.

I have a new job now and my new job gets paid bi-weekly. First, I called to change my banking account because I am now using a new checking account. The gentleman told me that I was able to do it through the app and saw on his end it went through; wonderful until the following week I saw my old checking account that I don’t use anymore has been overdrawn the amount that was suppose to come out the new checking account. The second time I called to change the checking account and was told I couldn’t because I needed proof my money was going into this account from my employer which I didn’t have to provide while opening the account...the customer service of this second rep was rude and unprofessional at least and she basically yelled at me telling me I needed to go to my employer.

I called a third time because I wanted to resolve the situation because I am having a rough time with it still coming out of my old checking account and having to deposit money into it every week so it doesn’t overdraw the account I no longer use. And also because I’m not getting paid weekly anymore so it’s messing up my whole budget at the moment.

Anyway, called a third time with a guy who was able to change my checking account but when I asked if I could switch to biweekly for my new checking account since that’s when I get paid he told me I wasn’t able to but on the website and app it says that they’re able to work with you...hung up with him because I felt like he didn’t know what he was talking about. I called back and spoke to someone who was finally very helpful and told me I just needed to provide proof of my new pay schedule for my employer which seems like the solution to my problem.

My point is that every one is not on the same page. I’m paying $18 for money loan premium membership I barely use other than to apply for the loan and $9 for the loan every week. I’d be okay if I was working as much as I’d used to but nursing school is very demanding and takes up much of time and this has really been bothering me. I was grateful for the loan and how fast the money came. I’m not upset I have to pay the loan but it’s difficult to pay because it’s coming out of an account I don’t use and coming out every week when I only get paid biweekly now and it’s a hassle to get it changed just so I can be current on the loan. If I would have known it would turn out this way, I would have looked for a better alternative or just been late a week or two with my bills. My plan is to use my tax return to pay off the loan and close my account permanently to be done with MoneyLion. Thanks but no thanks.

Read the agreements! They won’t honor they’re agreement completely but pay attention to the forceful collection parts and know that they will do it all to get as much money from you as possible, their prime goal is to collect membership fees at all costs even if the membership is of no use or offers no benefits. Any errors on your part will be unforgiving and they will hear none of it. Moneylion will collect a membership for default status and continue to grow your debt until payments and your investment becomes theirs. your “reserve account “ will disappear and your investment accountcontinue to charge you membership fees no matter what!
Update 5/15
They want me to call them after I have called about 7-10 times since November! requesting options but all they know how to say is “the system” “but the system” then talk about “agreements” and when you asked them specifically about the “agreement” they go back to “the system” because they don’t know what they are talking about and can’t even define “default” all they want is to keep debiting money from your account and get you off the phone! This is a scam and they will take your money and furthe degrade your credit score! They will also refuse to liquidate your investment account until you pay off a balance that continues to grow. They will sell you a dream and then screw you. They requested i call them, they only say they want improve their products, with no mention of resolving any issues specific to me, sad.
Update 5/18
I received an email titled”second notice of liquidation” regarding the liquidation of investment accounts. They won’t liquidate and they won’t explain why. Just says 0.00. I guess they will ramp up fees in an attempt to grow the debt and end up keeping the investment account instead of liquidating as expected. They promised a call back but of course they did not call back. When an agent gets on the phone All they can reference is “the agreement” and they can’t explain what “the agreement” is or why they refuse to liquidate after defaulting past 3 months. Their agents will give you different excuses( mostly made up to get you off the phone and use words to confuse you) and will set expectations but will not follow thru. I did make a mistake and tried to explain that to the agents but they stick to their scripted lines and work very hard to get you off the phone and continue to further deteriorate your credit. I Scheduled the appointment. I’m expecting an outsourced agent from Asia or rude Latin agent to call me and tell me that “the agreement” states that I have to pay for a membership that has absolutely no use or benefit except the payment they receive. all payments made have been erased by fees. I know I owe more than the original loan(minus reserve account)So they will end up keeping payments and investments account. I received ($150 received and they want $527 payed back) but no statements or anything to explain what happened. The numbers they will present you will be different from the figures on the app and the amounts explained in collection emainotices where they liquidate 0 of the investment account . They are trying really hard to steal money from their customers.
Update 5/19
Guess what? They didn’t call! I expected that and I surely wasn’t disappointed.
Update 5/21
No call was received and they continue to collect membership fees for nothing. Account was messed up and no remedy was offered except paying off loan and membership fees for absolutely nothing.
Update 5/28
They continue to withdraw for a membership that offers nothing in return. The loan has been defaulted for over 6 months and they continue to grow the debt. No attempt to bring the account back to current by moneylion other than full total payment.No call back as promised. liquidation of investment assets as agreed on signed agreement has happened and all payments previously made count for nothing.The account with the remaining funds of the loan have been removed. Their only goal is to further ruin credit and grow a debt indefinitely. I’m sure there will be lawsuits soon. There is something really wrong about this company. They are unforgiving if you make any mistakes and no hep will be received from their outsourced customer service and ther is no branch to walk up to. Call backs are only false promises and their only solutions are not helpful. They will keep their defaulted loans and refuse to liquidated any of your investment funds because they want to keep them.
Update 5/28 pt 2
Some Aaron person called with an accent or some sort of machine voice over and still can’t understand what they are saying and provided an invalid number for me to contact. They also suggested booking a call back like last time, which they will return not as scheduled but at their pleasure, at least that was my last experience requesting a booked call back. This company is a joke, can’t even hire people who can properly communicate with their customers. [protected] is the number they provided and Verizon wireless says it’s not reachable lol can anyone confirm?i think robot Aaron also is providing incorrect information and MoneyLion should at least spend the swindled money on better quality robot/voiceover machine, necesaary for acquiring more income thru your established scamming services.Beware! Professional scammers. Class action will be next
Update 6/4
They have partially liquidated the investment account and balance remains inaccessible. I expect them to steal the investment funds. They have closed the “reserve” account, it seems like it was reserved for them. They have payed off the account and no explanation of how the funds were used has been given. They continue to collect membership fees for nothing, they said loan has to be paid off in order to stop membership payments but that obviously a lie, they will continue to steal from you one way or another, that’s the business they’re in.

Although I’ve had this bank for a few months now it’s very misleading when it comes to the services they offer. I unlocked the feature of instacash after a few direct deposits, I also was approved to apply for one the loans they offer. Sadly the insta cash is only helpful if you barrow money in advance if you think you need it or you’re paying $4 just to have it instantly deposited then on top of that they guilt you into tipping them for taking the money out as well. On a average transaction of $50 you’re pay $10 in just tips or fees. Then the loans you unlock that they offer are not offered in every state as well. I’m eligible to get a loan but most companies they work with do not offer it in my state. Nor can you barrow more than $250 in instacash no matter how much you make. They also advertise how you can get paid days earlier but I still haven’t gotten paid on Wednesdays yet like my previous bank. Lastly they offer credit builder options and other things within the app stating that it’s free when it’s actually a monthly charge to have all these wonderful features they advertise. Probably the worst bank ever, I got instacash and they locked the borrowed amount into my checking account until I was able to pay the instacash balance back? So basically I narrowed the money from them for me not to use and and they took that same money to pay themselves back. After balance was paid back I tried to transfer funds from my saving/ investment account over to the checking account and it failed. I wasn’t notified or anything and the balance remained in limbo until I called. I ended up being short on my speeding ticket and couldn’t get my car from the impound. This bank has caused so many problems for me. Never again.

I like Money Lion but I am giving it a 1 star because I am having some problems, in my app.

1. I asked the representative to update my payment schedule and to change the dates to withdraw my membership payments and loan payments. They updated the correct date for the membership fee but not for my loan, I asked them why is the system not updating my loan payment? And they say that on their end the date has changed to the date I want for my loan payment. But I do not see it in my app.

2. I also let the representative know that my membership payments are not coming out of my account but my loan payments are coming out... she then reset my banking information so that the payments can come out for my membership. So I go into my app and when I click on the payment method that is use for the membership and Loan payment it says that it needs to reconnect with my bank- I click on the option to update it takes me to the options of the banks to choose and then when I click on my bank, it says “ bank connected successfully but above it, says error) so I go back and do the steps over and it gives me the same error. As of right now in my app it showing the my bank is not connected to Money Lion app.

3. When I try to add my debit card to my loan and membership it does not show for the option to choose my debit card, it just goes straight to my wallet in the Money Lion app.

4. The people that I talk to over the phone, they help out a little but they know nothing about fixing my problems that I have mentioned above. It is frustrating because when we had the chat in the Money Lion app it helped me out so much. Half of the time the people I speak with do not know what they are doing... and it gets on my nerves!

Everything in theory about money lion is amazing. Their execution leaves A LOT to be desired. The anytime anywhere zero fee cash advance isn’t quite that. It actually takes 1-2 days for the app to recognize your paycheck so if you’re paid Friday you’ll wait til Saturday night, Sunday or Monday to be able to get the advance. In the meantime the app will freak you out by saying you don’t have direct deposit set up when you do. They also don’t tell you that you could be waiting up to 2 hours or much more to talk to a representative. How ridiculous is that? An email takes 1-2 business days to be responded or there’s no response at all. I paid my loan off early with a debit card and still had to wait over a week to be able to start a new one. They say if you use a debit card you can re up in 5 minutes. Not true. They even told me twice I paid it using an ACH which was a lie because I used my money lion debit card. Keep in mind you’re paying $29 a month for their services which they provide in a haphazard manner. I’m hoping as MoneyLion grows they’ll realize they need a more robust customer service team, and an app that you can count on and not have to redownload. Everything happens slowly with MoneyLion from customer service to getting your debit card in the mail. They never outright lie, but they are murky on the details of how theirs services work exactly. That being said I’m still a customer because my direct deposit comes in earlier than traditional banks and I like the investment account they provide. I also appreciate they’ve started asking for other information than making you provide YOUR ENTIRE SSI # to a RANDOM customer service rep. That REALLY makes ppl feel comfortable. It’s those kind of things that should be obvious to them, but aren’t.

Update as of 7/18- last !
Following on the guideline received to reach out CS over the phone directly …So I did, again answered several questions to prove its me and I was just informed I AM NOT ALLOWED to have business with Money Lion at all due to seems I completed an info long time ago and current info can’t be updated neither verified ! Shocking even as far as I’m aware I have never ever before have had any account with you!

Update as of 7/15 - per request of completing another form to correct the situation, I just did it and a confirmation of “submitted successfully” was received.. as the other time as well. Update as of 7/13 After this review I was required to fill out a form reporting again the issue and so far NO answer at all ! Why make me waste my time completing all that to be ignored ?! No comments ! It tells me only to show they “address” the issues reported ! Yup right ! Everything seem right when I downloaded the app and created my account. Browsing to learn how their services works , I even linked my bank account, set up all the information requested, until I was asked to put my SSN ig said there was someone else with same number and I needed to contact customer care, which I did. Long story short…after longest wait , the representative over the chat asked me ALL kind of questions could verify I’m who I was saying I’m, which I did without issue … but unfortunately after all that waste of time I was informed informations were not verified and I can’t keep going with the app nor with an account at all and rejected to give me details or reasons. So at this point I’m scared if all those questions asked it was only to steel my information and this to be a scam ! Horrible experience I never had before …trying to prove I’m who I say I’m !

TL;DR: Early adoption is not ideal, and it costs more than what you get. You’re much better off using similar free services.

I originally got this service as the Plus service was offering 5.99% APR personal loans of 500 dollars. It auto invested 50 dollars a month into an account, had free checking, and you could recoup the $29/month Plus fee if you logged in every day. It was a useful, cost effective service.

Last month, they pivoted hard on what Plus features as a service, and forced users to opt in. Now it’s a flat $19.99/mo, with no forced auto-invest. Not really what I wanted, so I tried to cancel. Here’s what happened.

I emailed customer service and asked them to cancel my service. They replied they couldn’t cancel my account why I had an active loan. Fine, I get that.

Then I asked them to liquidate my investment account (which was $100 dollars more than my current loan balance), pay off my loan, and cancel the service. They replied they can’t liquidate my investment while I have an active loan, as they need it for collateral. I said I get that, if the loan is more than the balance of the account, but if I stopped paying, they would liquidate it to pay off my balance, so why bother waiting?

So after another follow up, I asked them to confirm that I have to pay 20 dollars a month for a service I was forced into, that I don't want, in addition to interest on a loan, because I can't get the money I have invested into the service to pay off my debt to said service, even though it is more than enough to cover my debt.

To paraphrase their reply, “Yes, that is accurate.” Skip this service. Find something better.

Additional Cons:
Customer service was unreliable at best. Expect long waits.
The app is buggy. I added my bank, and was never able to transfer money into my ML checking.
Their icon is kind of stupid

Update: I scheduled 2 calls as recommended below and did not get a call either time. I repeat do not waste your time and money with money lion they are not what they used to be and do not care about their customers like they used to. If you need help building credit just go to self, they have been amazing to me

Update 2: I was informed and I told the the person I was talking to that I never got a notification of a negative balance or that my checking account was going to be closed, it was at this time and the time before that I asked why I could do I order to go back I to good standing to reloan as I have been a plus me never for a while and have lined multiple times , both times they said they would find out and if I could wait for a few minutes then they disconnected from the chat.
None of this changes that in top of that I did not get either of the calls I scheduled, the worse customer service I have had , I used to love money lion and idk what happened now, I will definitely be canceling my membership and warning everyone I can to stay away.

I used to love money lion I had their plus membership and would often do a credit building loan and I definitely saw a difference , idk if they changed owners or what but their app doesn’t let me disconnect anything and their customer service now is horrifying, I paid off my loan and was ready to re-loan only to be told by 3 different customer services reps 3 different things and me fixing them all only for one to tell me a different reason and I won’t be able to re-loan then twice now I ask the customer service rep what I can do to re loan because I pay the plus membership and have been a member for a long time, they both said they are looking into it then end the chat!? Idk what happened to this company but stay away go to self they actually care about customer loyalty.

Their banking is not secure. Had 500$ stolen from my account & they told me they couldnt do anything EVEN THOUGH I REPORTED IT IMMEDIATELY. Not to mention they gave me this info after having me wait almost two months for a response. I had to kee calling. The 500$ loan is the only benefit but the negatives outweigh. No protected accounts. Cant withdraw from investment account. DOUBLE CHARGING YOU. CHARGING YOU ON THE WRONG DATE CREATING SEVERAL NSF FEES. TERRIBLE CUSTOMER SERVICE (the employees when they reach out to you YEARS LATER). Glitching app, not recording swipes. Paying for membership?

I also paid in advance for loan and membership and was still charged AGAIN and they dragged their feet on getting my money back to me. And told me that I wasnt entitled to cashback (even though I swiped thru everyday) for some odd reason. Submitted a ticket as initiated by representative DUE TO COMPANY ERROR AND IT WAS MYSTERIOUSLY CLOSED WITH NO UPDATE.

In the next few days I will sever all ties with them. They want all your money but do not value your money, your rights as a customer, and do not protect your money. Maybe their higher loan services are better but they are currently not offered in my state. But i dont trust them anymore and I am out of 500$. I thought other banks were bad but THIS BANK TAKES THE PRIZE!

Be very wary of them. If you decide to use them, check your account regularly (both your external account and with them)... amounts always seem to be different (from being online to the app to calling and waiting 40 mins for a representative who tells you something completely different).

Their help desk is a joke — you might as well not even use it. No resolutions. No responses. Just closing tickets with no response/update.

They dont send you a new card, you have to do it yourself. They are just a mess and a hassle!

Do not use this app! I created an account on their website and downloaded their app. Once logging into the app, the first letter of my email was capitalized, thus creating a new account. Each account can only have one social security number attached to it however. I’ve called MoneyLion for two weeks to resolve the issue- each time you are guaranteed to be on hold for Atleast 25 minutes.

The first time I was informed their site is case sensitive and that the issue was to be escalated to technical support to solve, I would get a response within 48 hours. The representative informed me that tons of other users were having issues with the app and logging in. The new account I created through the app I was informed to be deactivated. I attempted to log in with my current info and reset my password through the site numerous times, but constantly received an error stating it failed. I had still not heard from technical support so I created a new ticket and took a screenshot of the error.

I called again today to try and resolve the issue. I explained my situation to a different representative who informed myself that they could not fix the error that occurred on their site- I would have to use a new email address since that one was already used. I do not have another email, and should not have to create another email just for this app. I asked why they couldn’t just delete my account so I could start over and was informed that they cannot delete accounts- they can only deactivate them.

In conclusion guys there are plenty of better apps out there- there’s Albert, Earnin and Dave that are all extremely helpful and user friendly without any issues such as the ones you will find on this app. Other users have written reviews with issues they have had as well on this app. Do not waste your time just to fall into the same circumstances.

Very disappointed with the customer service representatives because they give false information to the customers. I had to get in the habit of calling the direct line to make payments because they take too long with the 3-5 day processing. That always causes my account to go negative because they retry at least 3-4 times leaving my account in the negative and then my bank won’t even reverse the charge because of they’re 1 reversal per year policy. The biggest headache ever. I spoke to a representative yesterday and specifically asked if I had any more payments due after I had made other payments to bring my account current and I was told everything was current. No loan payment was due, no instacash payment was due, no membership payment was due. I check my bank account this morning and it’s yet another negative balance due to MoneyLion trying to take $4.60 out of my account AFTER I asked if I needed to pay it the previous day. I load money into my account as needed because of so many fraudulent acts in the world so having to pay MoneyLion and then having to pay my bank because of MoneyLion isn’t going to work for me. A $4.60 charge turns into a $40.60 charge because of the incompetence on MoneyLions behalf. Thanks for making my life easier. And btw, once you apply for the $500 loan, you only can spend $125-$150 of it. You access the rest once the loan is fully paid off. And in the meantime, you pay $14.52 weekly. $9.92 for the loan and $4.60 for the membership. You’re given a year to repay the loan so if you figure $14.52 weekly with 52 weeks total, that’s $755.04 you have to pay just to be able to access approximately $350-$375. The app tells you that your loan payments are reported weekly to the credit bureau but that’s false. I’ve been using the app since November and I have seen my credit score info update maybe twice.

I never write reviews for apps. But when it comes to my credit score and my money it needs to be done. I’ve had this app for about 2 years while paying the $20+ monthly fee (which is disguised to look like not that much split payments etc.). Besides the $500 loan which I’ll get to in a second that being the reason for this review , it’s pretty useless of an app, they take a small monthly deposit from you and invest it however with not much gains at all until you try to withdraw and there is an ERROR or cannot withdraw until who knows when. This year I I took out another loan and was paying back monthly $24 payments for a few months as it’s automatically taken from my bank account and I check the status of it one day though the app itself , and even though my bank charged every single time. It showed I had missed 7 monthly payments in a row and that turned into fees and eventually COLLECTIONS even when I called them desperately to see why they said it showed I missed only 2 and everything was fine not to worry . When checking it turns out I had missed 2 but for no good reason I’ve always paid all my bills and these are automatic payments ?!? Well I tried paying the difference on the phone , ON THE APP 10 times, tried paying it off with Other debit cards re typed bank account numbers. I’m not an idiot , But this app is garbage now even more so after it merged with roarlion. “whoever in control” wouldn’t allow it to go through with plenty of funds in my chase bank account. I received an email from support saying they saw my review on another site and wanted to help , with zero follow up. This app used to be decent I put up with its defects but I’m 27 and trying to repair my credit this doesn’t help. Oh and the $60+ investment I had built up while paying this recent loan off I just checked it’s GONE . Says it was withdrawn on JAN 22nd to SOMEWHERE! Right after the loan was FORCED to collections. Anyway avoid this app It’s not worth it .

I’ve used this app probably two times since I’ve been in college. Every college student knows that hard times come along and sometimes you may need a extra boost or some easy cash. Well this app isn’t for you, first of all this is the only app that I know to instantly take the money out of your account. They don’t care if it’s 2.00 dollars in your account they are going to take it. After the week of Christmas I have probably about 8.00 dollars in my account and these greedy fools takes it out of my account even though the original payment was $20. The people do not care what you have as long as it isn’t plain cents. Not to mention the amount of emails I receive from them daily talking about a bunch of nothing.This month they had already taken out $20 bucks for the month of January I go on there today and they have taken out another $20 that was supposed to be used for another bill. I did not authorize this payment especially since you guys took the first $20 the first time. I happy considering when I checked the app I have officially paid back my “$50”loanshark loan. Immediately I deleted the app. I am looking online to see how I can completely delete my account. This app is just money hungry this app is not for college students who are in a bind or need some quick cash you’re better off getting Boro. They are not as annoying about receiving their money which in returns actually makes me want to pay them off. They even give you waaayyy more money than MoneyLion. MoneyLion wants to overdraft your account for $50. Well thanks for doing that. This will be the last time I’m downloading this is app 1.) because it’s crappy 2.) because I am graduating soon and won’t need this bull#%!app. This isn’t the first time they have been pressed over $50. The first time I borrowed money they put my account in NSF twice. Guess who had to pay NSF fees? Me, this app is just ploy to take money from people. Will not be downloading this app again. I rather pick up a quick gig.

I wanted to change my address and thought it would be simple. No way! It was a huge fiasco that took a month to get figured out! Then I tried to make a purchase over $3000 and it was declined. I was told the daily limit for my debit card was $3000. I asked how would I go about my purchase of $6500 and was told i would have to do 3 separate transactions on 3 different days. On top of that I spent over $3000 on different transactions in one day and went to get gas and my card was declined because o had hit my daily limit of $3000! No notification, no warning message on the app! I had to call in, which took forever, and took 3 tries to get through to them, as I got hung up on or disconnected twice. Only to be told that I was over my daily limit and no way to remove the restriction on my card. Also they charge you a monthly membership fee that you never really make your money back on, although they claim you do through the investment account they have. I haven’t seen where I can withdraw the same amount that I put into that investment account, only about half of what I put into it. And that was my money not their money! And another device they offer is what they call instacash, basically an advance loan that you have to pay back. When you use this feature they ask if you would like to “tip” MoneyLion, I chose not to this last time I used it, thinking it would not affect my instacash. They also charge a fee if you want that money instantly too, well in the first place if you are looking to use instacash you most likely want it pretty quick. Well I paid off my instacash on the payday they wanted it to be paid on and my instacash was $75 of the original $275 I had previous access too! So obviously not tipping does affect it! Not a lot of benefits to a regular bank either I’ve found out. Also if you have cash and want to deposit it, good luck! Not happening! And I make pretty good money, and thought I’d give this a try and I’m definitely not impressed. I’ll be going back to a traditional back.

I used to have a MoneyLion account back in [protected]. But after sometime of not using it I decided to close the account back in 2020. I didn’t want to just have an open account for mo reason. I just figured I would sign back up / reopen my account in the future if I ever decided I wanted to use MoneyLion again.

Fast forward to today, 08/23. I decided that I would sign back up and give them a try. So I downloaded the app and signed in. I wanted to open the RoarMoney Checking account, but before doing so I knew I needed to update my address and contact information before doing so.

So I went into my account settings and verified my phone number was correct, and it was. Then I check the address that MoneyLion had on file. That address was not correct and it was an old address that I had when I initially opened my first account with them. Not a big deal. There was an option to update it, but that’s the problem. After SEVERAL times of trying to update it, a dialogue box pops up and says I have to wait 30 days because I just changed my address. I thought that was odd because I have not changed my address ever, the only address they have is the one I provided when I opened my first account. so I thought no big deal I’ll just chat with a customer support agent, The customer support agent proceeds to tell me that because I just recently updated my address that I was not eligible to update my address for 30 days so I asked the customer service agent which address he had on file I provided him the old address and the new address he then proceeds to tell me that the address that is on file with my account is the old address. so I tell him that’s the problem there’s no way I could possibly update my old address if the old address is still on file that doesn’t make any sense, but of course he’s no help so now I have to wait 30 days to change an address that I never changed to begin with just to change my address to the right address, it makes no sense and there’s no recourse for any help. Maybe this is just a warning sign to just not do business with them I don’t know.

I put my direct deposit in this company over $3000 monthly! I wanted to transfer money from my checking account to an external account where I had my debit card set to send. I saw that it would take a day so I hit send. Next business day came and my money was placed in some investment account. I asked when did I set up a investment account I was told it was set up when account was opened. I again asked when did I set up an investment account no one could tell me. I then asked how did my money become moved we are talking $400 they said that this investment account supposedly had the same last 4 numbers as my debit and I hit this investment account. I explained that I had never authorized an investment account I was told sorry they would liquidate the investment account and that I would be made to wait 5-7 business days. Today upon checking conveniently the withdrawal button appeared and that initiated my withdrawal. So no one sis anything but lie to me and now I have to wait until close to my next paycheck to receive my money that only took them seconds to take. The fact that I never authorized a investment account makes me upset and the fact that conveniently this account had the same last 4 as my external debit account makes me suspicious and I don’t think this company is fair at all. Then when I asked for contact info for this investment company they refused to give it to me saying it was an internal communication. Internal communication about my money I worked for and how your going to find a way to rob someone else to get me my money. I think they set you up to take your money. Another thing if you have their banking and use advance feature they still take extra money from you saying you can get $150 at one time but making you do 3 separate transactions totaling an additional $15 because their transactions are in $50 increments even if you are banking with them the only perk is getting paid 2days early but if they are going to steal it that’s not a perk. As soon as I get my money I will be closing this account and never turning back! Worst experience I have ever had.

I have had a loan for several months, always paid on time, and always paid back my instacash advances. My instacash limit was bumped to $150, which was extremely helpful and that was paid back, and now, supposedly my bank isn't linked anymore, and my instacash is now down to $25, which really put a dent in my budget as I was going to need that amount again. Customer service has done nothing but give generic responses and I'm extremely frustrated. I need that instacash put back to where it was, because this is really hurting me right now. I had that same amount figured into my budget and with 4 children, and mounting bills, I needed that bit of extra help for now. I know this will fall on deaf ears, but figured it was worth attempting to get help one more time.

***Edited To Update*** - Inconvenience Turned Nightmare - I obtained a loan through MoneyLion last year and have been paying on it, as agreed, as the payments are made through automatically withdrawal. MoneyLion is now claiming that I have missed multiple payments, which is incorrect, and I have sent them documentation proving that their claims are incorrect. There is a "pending payment" showing on the section of the app for loan payments from February 15th, so they aren't even giving me credit for that payment, when it's been taken from my account, as well as their Credit Builder Plus membership fee. They have so far done nothing to address my concerns, but rather sending auto-generated responses. I have been unable to speak to a live person over the phone and am therefore stuck trying to send emails that are not responded to. Upon checking the app, it is now saying my account is pending collections when it should not be. There is now a very real chance that my credit will be hit, when I am doing everything possible to raise my credit score. Sadly, it looks like this is not a rare occurrence and I would advise against anyone using MoneyLion as the risks unfortunately outweighs the benefits. A complaint is being filed with the ComplaintsBoard.com and I urge others to do the same. THIS CAN NOT CONTINUE!

I’ve tried giving MoneyLion a shot several times. I was fortunate enough to be approved for their $500 credit builder loan. There’s 2 caveats to this, you have to pay to have access to this, it’s $20 a month that is billed each paycheck AND the loan payment of roughly $10 is also billed. Seems a little fishy doesn’t it?

They proudly boast no fees on their managed investment account, the description for the app clearly states this. In reality, they charge a FEE of $1 per quarter for any account with more than $5 in it... What happened to no fees? I reached out through email for resolution and this is verbatim the response I received “Unlike most managed investment accounts, the MoneyLion Managed Investment account has no ongoing management or trading fees” (ok sounds good right? Let’s jump to the next paragraph) “At MoneyLion we charge no such fees - there are no fees for the management or any trading we perform for your account” (awesome! So I’ll get my fees back right?! Lol... next paragraph starts with) “There is a small administration fee on our investment accounts. And by small, we mean small. The account administration fee is equal to $1.00 per quarter, which is just 33 cents per month or $4 per year. This fee is helps (love the spelling here right?) offset the costs that MoneyLion incurs to service your account through our custodian, DriveWealth.” Small is small, you’re right, but no fees also means no fees.

Well.. where did the no fees go? On top of the $40 per month for “access to member only deals” which is just them showing ads for other loan providers and then giving you access to their loans, they also want $4 per year to manage a “no fee” investment account? You can kiss my butt. I paid off the loan as soon as I could and am now waiting for the “escrow amount” to be deposited into my account.

I will never do business with MoneyLion again and will pass this experience along to anyone I can. Extremely deceptive at every turn and it’s disgusting to know companies like this are just causing more and more people to go into financial turmoil. 10/10 will always tell people to stay away from this company.

I downloaded the MoneyLion app signed up for their service $79. a month, 50 towards my savings and a $1. for every day I streak would be returned and placed into my savings in the MoneyLion saving account. Well everything was going great for the first 76 days, I was able to see every day I logged into the App what I was saving, plus all my credit card and back account information was there for me to see in one app. One day everything went wrong, as I would normally every morning log into the app to streak to get my $1 back to be placed in saving, so one morning there it was; NOTHING TO SHOW on app it was completely reset.No more did it display the amount of times I streaked, also the money I had saved in the savings account of MoneyLion was gone $150 Plus Doller gone. I called that morning customer support spent on the phone a good 30 minutes or more waiting to speak with a representative, when talking to rep she told me that they were going through maintenance, so she said it was normal to have gotten everything reset. Her instructions were to log out of the app return back in couple of hours and sign back into the app again and everything should be back to normal, displaying my account information and saving again, Well it wasn’t, the second day I called again to be explained that I should’ve deleted the app from my cell phone re-download the app waited two hours and then logged back in to the app. So I did and once again nothing, The third day spend another 30+ minutes on the phone waiting to explain the same situation, so this representative told me that he would have supervisor contact me in 30 minutes or less, I never got a call back, so the fourth day comes I call them again spend another 30+ minutes on the phone this time they transfer me to a supervisor that tells me that the problem will be resolved and for my inconvenience they would offer me 1000 points and to not worry that my money was safe in their accounts, since that last call nothing has changed not one email not one returned call, no 1,000 points & no money returned to my account. MoneyLion Took me for a fool and took close to $200 of mine.
Be aware of what happened to me also could happen to you. DONT USE MONEYLION

BUYER BEWARE OF MONEYLION! I REALLY don’t KNOW HOW THIS COMPANY IS STILL OPEN THEY ARE SCAMMING PEOPLE WITH DECPTIVE, SHADY AND PREDATORY PRACTICES LEFT AND RIGHT! I sent them the email below to give them a chance to fix the situation. INSEAD I WAS GIVING A SORRY CANT HELP YOU. THEY SIGN YOU Up FOR A LOAN BUT DONT TELL YOU THAT THE MEMBERSHIP THAT YOU SIGN UP FOR TO GET THE LOAN WILLL COST YOU 5 or 6x the loan amount you borrowed and you will be billed over $100 a month paying every 2 weeks for the membership that does not apply to your loan ONLY TO FIND OUT BY THERE BAD CUSTOMER SERCICE AGENTS THATS YOU CANT cancel the membership until you pay off the $500 loan. NO NEED TO ASK FOR A MANAGER BECAUSE THEY WONT LET YOU TALK TO ONE OR MANAGEMENT DOES NOT GIVE A BLEEP ABOUT YOU OR YOUR PROBLEM THEY MAKE THAT PRETTY CLEAR . UPON SIGNING UP I WAS TOLD I HAD TO GET A MEMBERSHIP TO GET THE LOAN SO I MADE SURE TO ASK “ IS IT TRUE THAT I CAN CANCEL MY MEMBERSHIP AT ANY TIME? They told me YES ABSOULTLY Yes you can CANCEL YOUR MEBERSHIP AT ANYTIME” VERBATIME EXACTLY WHAT SHE SAID IN THE CHAT ! . I WILL HAVE PAID over $2,000 dollars when I’m done just for a membership that does nothing and I didn’t ask for or want! In addition to paying off the $500 loan I actually signed up. MONEYLION COMPANY IS FULL OF #CROOKSs and SCAM ARTISTS THAT USE BAIT AND SWITCH AND Take back words and THEY WILL TAKE AROUND $60 DOLLARS EVERY 2 weeks FOR 2 YEARS ALL FOR A $500 Loan and a FAKE MEMBERSHIP THATS GOOD FOR NOTHING ... I send them an email first they did not even attempt to rectify.. BUYERS BEWARE of MONEYLION! AND I HOPE SOMEONE SHUTS THIS PLACE DOWN PERMANATLY... here is the email I sent to them 3 days ago I was told upon joining moneylion that I could cancel my membership at anytime via chat point black period. I have screenshots, now the customer service is telling ME I CANT DELETE / CANCEL MY MEMBERSHIP because Of a loan. (which by the way was not disclosed but rather a use of shady and deceptive lending practices according to my attorney) . You have 2 choices! delete my membership ASAP LIKE TODAY AND I WILL CONTINUE TO PAY THE LOAN EVERY OTHER WEEK AND REFUND EVERY MEMBERSHIP PAYMENT I MADE OR I’m posting a complaint ON THE ComplaintsBoard.com tomarrow morning AND PURSUING LEAGAL ACTION.