MoneyLion: Go-to Money App

Name: MoneyLion: Go-to Money App
Rating: 4.67489 (106547 reviews)

Finance

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MoneyLion: Go-to Money App

Finance

4.7

106.5K ratings

Age Rating

Seller

MoneyLion Inc

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User Reviews for MoneyLion: Go-to Money App

SCAM! Useless Customer Service

This app is a complete scam. There’s so many wrong things about it I don’t even know where to start. How about the fact that I turned off the ability for it to round up my charges and make auto deposits yet somehow even though I turned it off it turned itself back on again and started making auto deposits against my wishes now I have to wait a week until they will give me my money back because they made investments I did not ask them to make and they say there’s some glitch. Well there are too many glitches because this keeps happening. And furthermore it won’t allow me to add a debit card and it keeps telling me I need to get a different debit card but I only have one debit card and they tell me that I am wrong. But clearly it is them who is wrong but they change nothing and they admit to nothing. The whole thing is scare me and glitchy and they don’t care to fix any of it because they just keep taking your money. And then they charge you a dollar for the fake investments that you didn’t even want anyways and they refused to refund you any of it when none of it works properly the whole thing is broken. And their customer service does nothing they were repeat the same thing over and over and they say they are powerless to do anything well that is no customer service whatsoever they’re just blowhards and scammers they just take your money and they give you nothing in return it is a lie the whole thing is worthless and just waste your time.

Ahahebrfiwo, May 11, 2022

Waste of time

I received numerous emails and text on how I was approved for the $500. I entered in banking info and had to manually send in bank statement since it had to be verified. I was then told by representative , an email and text my bank passed the screening process and to continue with the next steps online, after re-verifying my banking info as asked it stated my account/rousting number didn’t match. I called back after waiting on hold for 25 minutes and was told they support team updated it in the system and to retry. I did it again and now received error message my bank isn’t supported! I called back and was told my bank was verified and passed the process on their end but wasn’t sure why I was receiving error online. In the meantime I’m still receiving text and emails telling me I can proceed to get the money....long story short no one can assist with why or how the online system is blocking my banking info saying it’s not supported I was even told to try and use the MoneyLion checking account to have funds deposited by a representative and transferred to that department and after being on hold 30 minutes this time I was told the MoneyLion checking account hadn’t been open long enough! Complete run around for the past 2 weeks and to this day I’m still receiving offers to apply and that my bank passed the screening process. Frustrating to do all of this for no resolution !!!!!

alesha0629, Dec 11, 2018

Garbage app, customer service is trash and clueless on there own products

Ever since I’ve been upgraded to the Roar Money account it’s been a nightmare. There’s been issues with MoneyLion in the past but this about does it. I upgraded to this new account and was encouraged to switch all of my direct deposits to it. A few problems with this. One it would not give me the option to make this my account to make my membership payments so last month it caused a missed payment which I fixed by transferring some money over from my MoneyLion Roar account to my old MoneyLion account and did a manual payment to my MoneyLion membership. This month same thing happened except this time even though my old MoneyLion account does expire for over a week the option to transfer from my Roar MoneyLion account to the old MoneyLion account so I could pay off the missed membership payment. So I had to call in and a representative switched the payments over for me to my MoneyLion Roar account and I paid the missed membership payment. I even paid the remaining balance in full for my MoneyLion loan. I was told the freeze on my account was gonna be lifted and than the call dropped. No call back so I called in again and this time I’m being told my account even though paid off is still suspended for 3-5 business days so I’m unable withdraw my investments or apply for a new loan. A lousy experience.

Bryan Florian, Aug 19, 2020

Great money maker/investment/credit builder

I took a chance with ml for the loan opportunity and I'm so glad I did. From the low interest rate on the loan I received, to the opportunity for financial growth by earning a dollar a day to build on my investment just for opening up the app and swiping, all the way to helping me build my credit I have to say the decision I made to take a chance was actually one of the best decisions I've made in regards to finances. I do however need to let it be known I am not so happy with my ml checking account, I opened the account because it said free checking account and over 55,000 free atm's but yet the first time I used my card to withdraw money out of an atm I was charged twice one charge was the typical $2 atm fee from the atm's financial institution but then I saw when I was looking at my ml checking account transactions that I was also charged $2.50 from ml as well on top of the $2 atm fee I had already paid. I should not have had to pay a fee to ml as well as pay one to the financial institution of the atm I withdrew from! Now I worry every time I need to make a purchase hesitating and debating on whether or not to use my ml card wondering if I'll be charged for doing so. That is something I should never have to worry about from my personal bank account/institution especially if you were told prior to opening it it's a free account.

dgirl0220, Jan 13, 2019

Great but the tip portion is ridiculous and needs more info

I can honestly say I love this app. Hands down really great at looking at all your money at once. There’s an option to invest, but it doesn’t explain anything about the investing. You have no idea what your invested in and what’s happening with that money. Also, you don’t have the option to take that money back if you no longer want to invest, which is a little ridiculous. The credit building is great, it reports to the credit bureau appropriately and you see the impact quickly. However, the instacash option is ridiculous. When you take out an instacash it constantly asks for a tip. I don’t mind leaving a tip for the help but if you don’t leave a tip your amount of instacash lessens, like a punishment for not paying more. Finally the last complaint would be the cashback shake that they offer. It’s a fun little option and it doesn’t give much back which isn’t an issue. The issue is that you can’t choose where that cashback goes. It immediately goes to the investment, which again you know nothing about. There should be an option of putting the cashback in the checking or in the investment. Overall a good app and great tool for improving credit and having some extra cash here and there but it needs some improvement.

Grace121595, Feb 19, 2020

SCAM

I NEVER write reviews but I felt the need to write one today. First, I completely understand that a lot of people are struggling out there and desperate times cause for desperate measures but please don’t download this app. About a couple weeks prior to Christmas I decided to use this app to take an advance on my check and also signed up for the Roar checking account and direct deposit which was a even bigger mistake. Long story short, if you open a Roar account, you are giving them access to just go into your account without your permission and take your money. I had a separate account for advances which is also the account that should be used to pay back advances but when I set up direct deposit with the Roar Checking account, as soon as my check for my part job hit the Roar account they went in and took my entire check without my permission or prior notification. What made this very upsetting was that was my last check before Christmas so I literally had no money for Christmas. I called them and they told me there was nothing they can do. I worked in a call center before and the number one indicator that a company is crap is if you escalate to speak with a supervisor but you’re on hold for over an hour because all supervisors are on another escalated call. HUGE red flag.

K Adlam, Dec 27, 2022

Will not help credit run away!!!!

I got this app and account as it says if you log in each day you don’t have to pay for the services. I also got the $500 loan to help with increase my credit. This bank only works with a few of the major banks so only my one account that I used for online transactions would work. The major pain is they take 6-7 day’s to process a transaction. It takes 2-3 days before it is taken out of your bank and then some times another 5-7 days to show up on your account as having the loan payment made. I had it set up for automatic payment but even that took 5-7 days and would show that my payment was late due to the lag in the processing of the payment. I contacted there non existent customer service and was sent to there team and services page with zero help. So basically you pay $19 a month to have access to a $500 loan. The loan was easy but the issues with the account and no ability to make payments through bank accounts that do not link through there site such as a ACH or direct withdrawal you can not use checks or anything to make payments and they take so long to clear this app has now actually hurt my credit. 2 of the months they took longer due to the payment coming out over a weekend they had already reported the payment as late before they processed it. This is a scam please do you fall for this like I did. I have paid back the loan and plan to cancel my membership as soon as possible. Also they will not give you back your money in any way.

KrisAndrae, Nov 24, 2019

Great app

I love this app, I love that the round ups are invested at a 1.00 most apps make it minimum 5.00 the point is to invest your change if you buy a coffee for a 1.50 you want the .50 cents invested not hold it until5 bucks that is a noticeable withdrawal. Soon you can split the round up between investment and crypto. The atm fees can be high with both the atm and app charging you. Great Cashback and reward choices it adds up quickly. Direct deposit comes earlier than my regular bank. My only complaint is that I have both my paychecks directly deposited to the site and I love that instacash boost and credit builder coming out automatically, but I've tried to use payday advance app and even have applied for a loan and both would not accept moneylion as a bank so I did it get approved solely for that reason. So basically if I need to take a true loan I'll have to have my checks directly deposited elsewhere and it'll take weeks for that to happen and for the companies to see that the checks have been coming frequently to that account. I hope sooner than later places recognize them as a financial institution and not just a finance app because it's basically like showing no income. Those few negatives do not hinder the app at all the credit bulder, instacash, and investments are worth it on their own.

Mleopard77, Mar 12, 2022

Great investment

So I’ve been a member for a full 30 days now. I was very skeptical at first, I wanted to cancel after my first payment because I read some negative reviews. But, thinking about the situation a little longer I realized all the negative reviews have one thing in common, and that’s because these people didn’t read the documents or what they were signing up for. So I left it at that! Now if you don’t have the money monthly to pay both the membership fees and the loan. Then I wouldn’t suggest this app, cause you need to spend money to make money, if you have no money then you can’t make any. Anyways, you pay a membership fee of $33 and some change every two weeks. $50 of that goes into your investment account. That is STILL your money! It’s just in a savings account for you basically. ML couldn’t verify my bank account so I was in something called the LOANLocked group. I had to make sure to pay my membership ON TIME, auto-drafted from my bank account. 30 days later with no questions asked I was approved without running my credit for the $500 loan. I don’t have this app just for the loan. I have it to build my credit, and the ongoing investment. I would recommend this app to my close family and friends because I trust it. AGAIN READ what you’re signing up for. ☺️☺️☺️☺️

Rosslynn N., Jul 24, 2018

Hassles Upon Hassles

I liked the app at first, and I enjoy saving money and being able to request a loan when needed.However, the customer service for this company is pathetic, and so is the system the billing is under as well. The first time I called the person I was speaking to didn't even sound like he wanted to be there, gave me the wrong information that, had I NOT requested to speak to a supervisor (who also sounded bored and condescending) it could have been a choice that damaged my credit. Today I call, because I'm willing to pay off my loan. Using a bank account takes way too long and at this point, I'm ready to pay off and cancel due to the hold time and the wait customer service has. I finally get through to someone after a whopping 15 minutes (and fake clicking links on the website to contact support) for them to tell me my card is not supported to pay my loan off in full. Correct me if I'm wrong, but the BANK ACCOUNT is literally attached to that card & vice versa, how can one be supported and the other isn't ? The bank account takes too long to clear and it completely ruins the plan I had since I'm on vacation. I don't even want the membership anymore, cause there's way too many aspects to this membership and it seems that not everyone is skilled or knowledgeable on it which makes it even MORE confusing, to then have this issue with my billing I'm completely turned off. Once paid off I'm finished.

SYJ0596, Apr 11, 2019

Description

The only money app you need. MoneyLion is an all-in-one finance app with mobile banking and personal finance resources. Get cash advances up to $500, compare offers for personal loans, and auto-invest to reach your goals.

Discover easy money tools, tips, and offers for every money moment. Get a loan to help build credit as a Credit Builder Plus member. Get paid early (up to 2 days)² with RoarMoney℠. Access fast cash with an early paycheck and use Instacash℠ cash advances for extra money when you need it. Get money tips on the Discover feed to live your best money life. Control your finances today with MoneyLion. Online banking that gives you more - Get paid early (up to 2 days) with RoarMoney direct deposit² - Gain fast rewards up to $500 per qualifying purchase with Shake 'N' Bank⁴ - Get cash easily with no fee at 55,000+ Allpoint ATMs⁵ - Use Round Ups³ to invest spare change with eligible credit or debit card purchases Extra cash with Instacash - Get money in minutes (up to $500) with a 0% APR cash advance¹ - Quick cash advance available with no credit check or interest - Cash advance increased limit (up to $1,000¹) with a qualifying recurring direct deposit Personal loan offers on MoneyLion Marketplace⁶ - Need to borrow money? Get matched with partner loan offers - Compare offers for personal loans, small loans, and online loans - Top high yield savings account and loan refinancing offers Credit Builder Plus - Membership ($19.99/mo) will grant access to a Credit Builder loan of up to $1000 and exclusive services - Help save, build credit history, and view your credit score MoneyLion is not affiliated with other money apps, loan apps, or cash advance apps such as Chime, Dave, Cash App, Credit Karma, Beem, Chase, Varo Bank, Possible Finance, Earnin, SoFi, Cleo, or Brigit 1 Instacash is a 0% APR cash advance service provided by MoneyLion. Your available Instacash advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. This service has no mandatory fees. You may leave an optional tip and pay an optional Turbo Fee for expedited funds delivery. For a $40 Instacash advance with a Turbo Fee of $4.99, your repayment amount will be $44.99. Generally, your scheduled repayment date will be your next direct deposit date which can range from weekly to monthly depending on your deposit cycle. An Instacash advance is a non-recourse product, not a personal loan, and there is no mandatory minimum or maximum timeframe for repayment; you will not be eligible to request a new advance until your outstanding balance is paid. See Membership Agreement and http://help.moneylion.com for additional terms, conditions and eligibility requirements. Increased Instacash limit with Safety Net requires recurring direct deposit into RoarMoney account. Instacash is an optional service offered by MoneyLion. Terms and eligibility requirements apply. See Instacash Terms and Conditions for more information. 2 With direct deposit. Faster access to funds is based on comparison of a paper check versus electronic Direct Deposit. 3 Round Ups is subject to terms and conditions. This optional service is offered by MoneyLion. You may be required to have certain MoneyLion accounts to use this feature. 4 Shake 'N' Bank and other Rewards are subject to terms and conditions. Rewards are an optional service offered by MoneyLion. 5 The MoneyLion Debit Mastercard can be used for no-fee withdrawals at ATMs in the Allpoint network. Fees may apply for ATM transactions outside this network. 6 Personal loans in the MoneyLion marketplace you may apply for have repayment terms from 12 months to 7 years. All loan offers on the MoneyLion marketplace require your application and approval by the lender. You may not qualify for the lowest rates or the highest offer amounts or may not qualify for a loan at all.