Lenme: Investing and Borrowing

Name: Lenme: Investing and Borrowing
Rating: 4.26331 (26615 reviews)

Finance

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Lenme: Investing and Borrowing

Finance

4.3

26.6K ratings

Age Rating

17+

Seller

Lenme Inc.

In-App Purchases

$1.99 – $399.99

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User Reviews for Lenme: Investing and Borrowing

All looks, zero function.

It’s a very pretty app, the UI looks great! The problem is, absolutely nothing works. Want to borrow money, you’ll need a $0.99/month subscription. But what does that subscription actually get you? Nothing. Nada. Zilch. You sign up for it thinking now you can apply for a loan, but when you go to that section again, it wants you to subscribe. Click the button to subscribe and your iPhone will tell you that you already have! It’s an infinite loop from there. Contacted support over a week ago for this issue, never heard from them. So that’s 1 out of 2 functions this app is supposed to have but actually doesn’t.The next function is that you can be the one to loan out money, sounds great, right? Sure! If you could actually load money onto the app. Heck, people have been complaining that they can’t even get their banks to connect. I was lucky to be able to do that, but when I click the button to transfer money, the screen shades grey for 0.25 seconds before it returns to normal. Absolutely nothing changed. Of course, I contacted support; stupid me! Never heard back.TLDR: Don’t waste your time and mental energy on this fancy tech demo of what this type of thing would look like. It doesn’t actually work. I’ll give this a week before I report this App to Apple for being useless and not delivering on what is advertised.

Arthinon, Oct 12, 2020

Nice so far

I like the UI. It’s very customer centric. However, the actual human service is Not very customer focused despite nice bells and whistles that the app has. It’s gets lost quickly in the face of bad customer service. Upon iD validation, I was told that “passports were not an accepted form of ID.” Well I was taken aback by this ridiculous assertion. Of course passports are a valid form of ID, I thought. The agenda explained that it was their vendor that had this policy, and told me in a way that was matter of fact and final. I didn’t take kindly to this as it is my expectation that customer service always try to help to the level r then at they ate empowered to. The very best will find a way to go beyond their level of empowerment. That it was just expected that I take this info and move on was a little insulting to me. Their vendor Clearly needs to understand what forms of ID are legal and valid and must be accepted and can’t be turned away because, idk, they lack the technical skills to build an ID scanner that accommodates the size of a passport (I hope it’s not that embarrassingly simple?)? Bottom line, it’s unfortunate that my initial pleasant interaction with your app was soured by a human that didn’t want to or didn’t want to be of true help rather than just fielding questions and reading back from a script which was the true disappointing issue. I still have high hopes, though. We’ll see.

ARVIN MAGUSARA, Apr 03, 2021

seriously??

I downloaded this app because, obviously, I need some extra cash right now. everything went so smoothly in the beginning, I had just submitted a loan request and gotten an offer! all I needed to do was add my bank info, and after about an hour of trying and failing to connect one bank account I finally gave up and connected my other one. so after all of that was done, I went and accepted the offer. it takes you to a second page where you have to push the “accept offer” button again. okay, no problem. well, I’ve pressed this button probably 1,000 times and nothing happens. so I think, go check your bank info and see if it was added. when I go to the link for your bank info and click on it, it brings me to the page but it’s just constantly loading. this has been going on for about 12 hours, I thought that if I just left it alone and waited that it would load but I was wrong. I decided to cancel the request I made and make a new one, but of course that didn’t go well either only this time because my SS doesn’t match my last name or something? I’ve had the same last name my entire life, I’ve had the same SS for my entire life, and when I first signed up I didn’t get an error message about that at all. please fix your app and tell me how to delete my account because this is complete bull.

fed up thanks, Dec 17, 2018

Would really like customer support to reach out to me

After doing tons and tons of research about peer to peer lending and reading about each and every single app + reviews , I decided to go with your app. Heard nothing but amazing things except for the customer service not being top notch. So after entering all my info and praying I got accepted I did. Finally added my bank account. In which my bank account + my income and qualifications met each and every requirement ( the whole process took about a month or so for me to do ) my account verified , im excited about being able to finally apply for a loan and boom my heart breaks a message pops up “ saying basically there’s to many people asking for loans , they need to be taken first “ which nothing the whole time or emailed , nothing about this was brought to my attention. So after all this time trying to get my account together , I can’t use your website. Which to me was disappointing because not only was I not told any of that! Nothing was emailed , no warning , nothing. I really want to use your website so bad! I’m doing this comment because I’m hoping someone will read it and get back to me. Although I would love to win the $100 , I would be happy with just a reply back and able to use your site. Thanks for your time!

Hellocynthia23, Oct 04, 2019

Good start but needs refinement

I like Lenmo in general, it is relatively easy to use and I’ve been using it for a few months successfully. I’ve funded and had repaid several loans. However I often have errors with the app and customer service is not super responsive- it often takes days to have issues resolved. I also wish the app had a way to keep track of transaction history. For example being able to see when your lenmo account is funded, when and how much is paid out, when and how much is refunded. It will give notifications when a loan is funded and repaid but I would like something more like the transaction record of a bank account where I can the deposits and withdrawals. Also recently I didn’t receive notification of a repayment until a week after it was due- I don’t know if payment was late or lenmo was delayed in showing the notification- I would like to know so that I know whether I should be following up with lenmo about receiving my half of a late payment fee. I wish Lenmo was more transparent about where your money is and what is happening. When payments are late- are they collecting a late fee, are they making other attempts to collect, have debts been sent to collections, breaking down what’s been paid and when, keeping a running account balance. I expect these issues stem from the youth of the app, that improvements will come as the app becomes more established. I will need to take a break until current issues are resolved but I hope to be back. 🤞

jerizin1208, Apr 11, 2019

Poor Customer Support

I tried setting up an account to borrow and was met with an error that said “please contact support”. I went ahead and sent out the request ticket and was met with a response that nothing could be done for me because, “Unfortunately, our security verification partners we’re unable to verify you with the information you provided“. At that point I was confused Because I had literally submitted everything from my SSN and my Drivers License what else more can I do to prove that I AM ME??? As confused as I was I emailed back asking what else I needed to do in order to fix this, I would like to use the app if possible and if I need to resubmit photos of my ID I can certainly do that but to sit here and tell me that I’m not ME is ridiculous. The worst part about this is that after I responded to the first email I never got a reply back… I literally forked over the .99 cents to use the borrow feature just for them to say “sorry we can’t verify you and we also can’t help you, better luck in the next life” like what?? I normally wouldn’t be this upset but the fact that there wasn’t even an attempt to help me just pisses me off. At this point I really don’t want to use the app anyway since it seems that if I ever encounter other issues I’ll surely be screwed over.

Jerry ancklseonlin, Jun 04, 2021

you will NOT get a $50-$200 loan

“to ensure current borrowers are able to get their loan funded, we are not accepting new loan requests at this time” this is what it said to me after i quite literally spent all day on this app. wouldn’t let me connect my bank, when i would click my bank it would be stuck on a white page instead of going to the bank page so i can login. i tried to upload my id at least 15 times, i did it correct every time however it would say can’t verify id. emailed support they said they kindly require me to resubmit my id for verification. still didn’t work. after like the 15th time it finally said success, now time to add my bank so i can get funds and also pay them back. okay cool, finally working. success! bank account added. now time to request funds, i only need $60, the minimum is $50 and max $200 i think. so i set up my repayment date which is in a month, everything’s set up, time to get some money that will help me stay by the next week and a half. nope. “to ensure current borrowers are able to get their loan funded, we are not accepting new loan requests at this time” so you couldn’t tell me this before i gave you literally all my information? like it could have mentioned this at any step but no they wait until right when i go to request some money, thinking all i have to do next is wait for someone to fund me hopefully. hate this app. will be going online to find anywhere i can rate this 1 star. do not use this app. complete waste of time.

jusssbeinghonest:))), Sep 13, 2022

Worst experience on the App Store

I downloaded lenme around 2019 and loved the idea. The experience was smooth but I quickly learned of its failures. I had multiple people never repay me which was upsetting but expected with dealing with such a new app/company so I expected it to be difficult to get help. I wrote of my losses and was told they would take the borrows to collection in a effort to collect my funds and 3 years later I’m happy to say I got back $100 out of the hundreds a of losses. Now that I got this money I tried to retrieve it from the app however there is no means for me to withdraw the money. On the app I had a old bank account and I was not able to remove it and when I contacted customer service they simply asked me for further explanation or didn’t answer my question. Multiple times I requested q supervisor while doing my best to repeat my situation over and over again, I had a old bank acc which no longer exists and I had no means to replace it via the app so my money is sitting in lingo. Their customer service team is full of some of the most incompetent people I have ever spoken to and I run a customer service team managing over 2M in yearly orders. I think everyone should stay away from this app as a investor I can only imagine what a borrower or others have to deal with

kevin echeverri, Feb 22, 2023

Suggestion - Please allow loan requests submitted to be modified or cancelled

Please allow an additional loan to be requested if an offer expires instead of waiting 30 days. I had an offer but didn’t see it in time within the 48 hours and missed the opportunity (my Mom was in the hospital so I wasn’t paying attention to my phone or my offers). I would like the ability to request a new loan of an offer expired prior to 30 days or refresh my current loan to get an offer. This app has so much potential. Please consider these updates to make this a positive experience!Good afternoon! I enjoy using this app! I have one suggestion. Please allow a loan requested to be modified or cancelled so a new loan request can be submitted. The reason is if I submit a loan request that isn’t receiving any offers I may want to change the terms of the number of months to a lower number to pay the loan off more quickly and to attract potential lenders. This would be a significant improvement to the loan request process. Right now the app says I can’t cancel an existing loan request until I have one offer but I’d like to cancel it or modify it to change and lower the number of months I initially submitted to pay back the loan. Thank you!

ProundMomtoBKAMJ, Apr 29, 2019

Worst app

Have been trying to use this app probably for the last 2 months. However, whenever It came time to “Request a loan” each time it said that my request couldn’t be completed and to reach out to support. I must have done this about 8 different times trying to reach out to support to see what the problem was. They only answered me TWICE in the 8 times I have reached out in the past 2 months. The first time was right after I made the account and we emailed back and forth a couple of times, she asked me for a screenshot of what I was seeing, I sent it and then never heard back from her. The next time they FINALLY answered was just this last week, but of course their answer to me really was NOTHING about fixing my account, and they only answered me about the second part of my question to them which was needing help switching my connected bank because I had recently switched banks. They answered that that can’t be done for whatever reason, and of course NOTHING about fixing my account as to why I can’t request a loan or go forward with seeing the loans that are available as it is a “peer to peer” loan system. So at this point I am DONE trying to use this app, if you need any help whatsoever using this app, good luck trying to get ahold of anybody. Cuz the support for this app is AWFUL.

TeeeeeeRoses, Jan 13, 2022

Description

Lenme app is the perfect tool helping in all connections between borrowers and investors. Borrowers can get all the loans they need in minutes with total ease! We even allow users to continually increase their loan limit eligibility while requesting loans through the App.

Until you are eligible for loans that can reach up to $5,000! And if you have an interest to invest in lending. Lenme is your perfect gate to earn some cash and generate very good passive income. With returns that can reach up to 40%! Benefits you can get for as low as $1.99 a month: - No credit score required, debt-to-income ratio, or paperwork hassle. - Creating your borrower profile and requesting a loan won’t take more than 10 mins! - Thousands of Investors will compete to offer the best rates and you will have the power to choose. - Get funds transferred to your bank account as quickly as the same day - As long as you pay back your loan your limit will keep increasing until you are eligible for up to $5,000! Lenme has the perfect investing platform! - Diversify portfolio in a market with low volatility. - Easily select investments that suit the level of risk you’re comfortable with. - Enjoy withdrawing your earnings at no cost. - Investment assistance with Lenme predict service. - Invest in almost risk-free loans backed by Crypto as Collateral. - Lenme Predict technology will help you get a better analysis of Borrower's profiles and earn more money while investing wisely. Lenme has a new loan just for you - borrow up to $10,000 using your Crypto-Wallet as collateral. That's right! Borrowers Owning crypto can now connect their wallet to the app and request bigger limit loans. Investors can now earn up to $1,700 when funding Crypto-Backed Loans! Lenme is also offering what is beyond Lending and borrowing, Amazing Features: - Receiving up to $40 when you refer a friend to use Lenme - Saving money through our marketplace offering amazing discounts & offers on other brands you use on a daily basis. Lenme is a lending platform that connects people looking to borrow money with financial institutions, lending businesses, and individual investors looking to invest in the loan market. Users remain completely anonymous throughout the entire borrowing/lending process. For transparency and to encourage a fair and competitive market, the “feed” tab within the app allows users to see which loans are being funded and at what interest rate. Lenme offers a monthly/annual subscription through Apple Pay. LenmePredict, our machine learning algorithm, is a standalone product offered for lenders through Apple Pay for purchase either per-use or monthly/annual subscription. Subscriptions will automatically renew unless canceled within 24 hours before the end of the subscription period. You can cancel anytime via your iTunes account. Crypto-backed loans, our new product allows investors to fund cash loans backed by cryptocurrency owned by the borrower. Cryptocurrencies are used as collateral and maybe liquidated in case of default or sudden price drop of the held currency. Since our app is not directly involved in the lending decision, we cannot guarantee the interest rate borrowers will be offered. All borrowers have the option to request a loan on our platform for up to a 12-month repayment period, paid in installments. Lenders can offer loans for a minimum of 3% APR based on the credit score and their own criteria. The lending decision is based on multiple factors viewable on our app, including credit, income, and cash flow analysis. A representative example of the total cost of the loan, including all applicable fees: If you borrow $1,000 over a term of 1 year with an APR of 12% and an origination fee of 1%, you will pay $89.75 per month. The total amount payable will be $1,076.96, with a total interest and fees of $76.96. For more information, see our Terms of Use and Privacy Policy. https://lenme.com/privacy-policy/ https://lenme.com/term-of-use/