Founded in 2013, MoneyLion is a mobile banking platform that offers credit builder loans up to $1,000, interest-free cash advances, banking with early paycheck deposit and no minimum balance, managed investing, cashback rewards, and financial tracking and education. MoneyLion breaks down traditional barriers to financial health and provides financial access to hardworking Americans, helping... show more
MoneyLion Reviews
5
78%
4
7%
3
1%
2
1%
1
13%
4.4
2,692 reviews
2,692 reviews
What's Your Rating?
Most Recent
Most RecentMost Useful
Review sort
MoneyLion
katie_schoonover220 @katie_schoonover220
Report Abuse
1 Star Rating
I was having an issue with the credit builder loan, and I got passed around to multiple different "customer service representatives" because no one was able to help me. I even had someone say they would call me back and never did. It was a pain in the neck to figure out, and no one was friendly or helpful. They have membership fees, interest on your money, and the wording is all written to confuse you into falling into their trap. Don't do it.
show more
show less
Comment
0
0
MoneyLion @MoneyLion
We’re sorry to hear about your experience and appreciate you sharing it, Katie. A Customer Advocate did reach out to assist, and we hope that helped clarify things. We’re actively working to improve communication and transparency, and your feedback helps us do that
show more
show less
Comment
0
0
MoneyLion
Tennessee Benjamin @tennessee_benjamin
Report Abuse
1 Star Rating
Verified Customer
They charge interest on your own money for credit building and a membership fee is charged semi-monthly. What a rip-off; I will never recommend them to anyone.
show more
show less
Product: MoneyLion Personal Loans
Comment
0
0
MoneyLion @MoneyLion
Thank you for your feedback, Tennessee. We're sorry to hear about your frustration, but we’re glad our team was able to help you out. We’re always working to improve and will keep your experience in mind.
show more
show less
Comment
0
0
MoneyLion
Valerie Davis @Ladyvee1hunyd
Report Abuse
1 Star Rating
Verified Customer
HORRIBLE... They lock your money in a credit reserve account until you reach $1,000, which isn't helping your need for quick funds. If we had $1,000, we wouldn't need a loan! My account has never been used, and they lock you in a 2-month grace period during which you can't close your account or cancel the loan. Now they are reporting late payments on my credit for an account that has NEVER been used! Run fast unless you want your score dropping by hundreds of points at once!
show more
show less
Product: MoneyLion Personal Loans
Comment
1
1
MoneyLion @MoneyLion
Thank you for your feedback, and we're so sorry to hear about your experience. A Customer Advocate has reached out to you directly to help address your concerns.
show more
show less
Comment
0
0
MoneyLion
eaglelyn21 @eaglelyn21
Report Abuse
1 Star Rating
I told them multiple times to cancel my credit builder before first payment came out, I didn't take the money they offered me right away, on 1000 they want to give you $75 and you have to pay rest back before receiving more , and didn't sign anything yet they took first payment of $20, you owe 20 every week. It's total rip off. They still bug me and won't return the money. You have to block them from your bank account.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
We are sorry to hear about your recent experience, and we'd like to see how we can better assist. Please complete this form by copying and pasting it into your web browser: https://mlion.info/customerhelp, and a member of our Advocacy Team will contact you directly.
show more
show less
Comment
0
0
MoneyLion
makayla Doran @kayladoran9
Report Abuse
1 Star Rating
I was playing Monopoly GO and reached the last level during a bonus period but never received the reward. I filed a report and it took months for any sort of resolution. When they rewarded me, they didn't provide the bonus pay. I was supposed to win $243, but instead, I received $30. I have reached out to customer service numerous times and they continue to say "we are working on it." It has been over 8 months. Don't use this app.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
So sorry for your experience with Play to Earn games, Makayla. A Customer Advocate has reached out to you directly to see how we can help.
show more
show less
Comment
0
0
MoneyLion
Kaleb Hettinger @kaleb_hettinger
Report Abuse
1 Star Rating
They denied my dispute claim, and when I appealed, they closed my account and denied my claim again. When asked for the documents used to support their decision, all they sent was a questionnaire.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
Thanks for your review, and we're sorry for your experience! We see that you're already working with a Customer Advocate on this. If you have any questions or concerns, please don’t hesitate to reach out to them directly.
show more
show less
Comment
0
0
MoneyLion
roz8409 @roz8409
Report Abuse
5 Star Rating
I really don't have anything bad to say. I am having tons of issues trying to get a credit builder loan. I keep getting error messages or it won't go past a certain point. I've spoken to several customer care agents and no one has solved the issue yet.
show more
show less
Comment
0
0
MoneyLion @MoneyLion
Oh no! We're sorry to hear that you're having a hard time requesting a Credit Builder loan. We'll be happy to take a look and see how we can help! Please copy and paste this form into your web browser: https://mlion.info/customerhelp, once it's submitted, a Customer Advocate will contact you directly.
show more
show less
Comment
0
0
MoneyLion
Sarah Smith @sarahsmith2004
Report Abuse
1 Star Rating
MoneyLion took my money. I had to pay back $438 and some change, and they only gave me back $280, so I'm missing $160. The fact is that they took the payment out of my other banking app, which I did not authorize. When I called them about it, they said there's nothing you can do—they're liars! I want my money back.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
Sorry to hear about the trouble with Instacash! We’d love the chance to take a closer look at your account and see how we can help. Please copy and paste this link into your browser: https://mlion.info/customerhelp. Once you submit the form, one of our Customer Advocates will reach out to you directly.
show more
show less
Comment
0
0
MoneyLion
alice chambers @alicechambers
Report Abuse
1 Star Rating
They only allow you to use Instacash once without doing all of youe financial transactions through them. They require direct deposits into their checking accounts. Their checking is inadequate. I'm not even sure it's FDIC insured.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
We're sorry you had trouble with Instacsah, Alice. We'd like to help you out. Please copy and paste this link into a browser, and we'll reach out: https://mlion.info/customerhelp
show more
show less
Comment
0
0
MoneyLion
aliciamaries0919 @aliciamaries0919
Report Abuse
1 Star Rating
Horrible. They take the money out way too soon, and customer service is less than helpful. I would not recommend this app, even if it were the last money-lending app available. Alicia
show more
show less
Comment
1
0
MoneyLion @MoneyLion
Thank you for your feedback, and we apologize for your experience! We'd appreciate a chance to speak with you and see how we can help. Please copy and paste this form into your web browser: https://mlion.info/customerhelp, once submitted, a Customer Advocate will contact you directly.
show more
show less
Comment
0
0
MoneyLion
Fred A Graham @fredgraham546
Report Abuse
1 Star Rating
Had an unauthorized merchant draw on my account. I did everything I could to find out who it was with no success. Called MoneyLion and filed a dispute. The unauthorized merchant continued to send bogus withdrawals from my account. Contacted MoneyLion again to let them know. Filed a dispute. After filing two disputes, the same merchant continues to take my money. We are now talking to the tune of 1,300 dollars. Every time cash goes in, the same merchant ID withdraws. Initially, I was told that a dispute would take 7 days, now being told that it could take as much as 90 days. I would rather not spend another penny on their account. This is an experience that I wouldn't wish on my enemies.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
Thanks for sharing your experience. We're really sorry to hear about the ongoing issues you've had with the unauthorized charges and the dispute process, and we'd like to see how we can help. Please complete this form by copying and pasting it into your web browser: https://mlion.info/customerhelp, and a member of our Advocacy Team will contact you directly.
show more
show less
Comment
0
0
MoneyLion
shanicqua_honiston @shanicqua_honiston
Report Abuse
1 Star Rating
MoneyLion is full of it. They say they help you build your credit, but they really don't. They don't report to the credit bureau as they're supposed to, and every time you call to see why they haven't reported it, they never can give you an answer. This was the worst thing I ever did; if I could give them a negative star, I would.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
We're really sorry to hear about your experience, and we truly appreciate your feedback. If you'd like to talk more about it, please copy and paste this link into your browser: https://mlion.info/customerhelp. After you submit the form, a Customer Advocate will reach out to you directly.
show more
show less
Comment
0
0
MoneyLion
Dell Johnston @OneMadDad
Report Abuse
1 Star Rating
They advertise games to play where you can gain financial rewards by reaching certain levels. I did this, had accumulated over $200 in rewards, and then when I tried to withdraw them, they said they could not verify my identity. Yet they were more than happy to link my bank account information for an "investment account" in which they wanted me to deposit money to them. Scam, scam, and a sham of a scam. Someone needs to start a class action lawsuit against them and the shady "Mr. Beast" who so heavily advocates their services.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
We understand how frustrating this must be and would appreciate the chance to take a closer look. Please copy and paste the following link into your browser: https://mlion.info/customerhelp. Once it loads, just fill out and submit the form so we can review the issue further.
show more
show less
Comment
0
0
MoneyLion
jacebush13 @jacebush13
Report Abuse
1 Star Rating
Stay Far Away from This Company! MoneyLion is a total ripoff and a nightmare to deal with! My sister is battling stage 4 metastatic cancer and depends on every penny for her medical care. This predatory company drafted $800 from her primary bank account and then had the audacity to lock her MoneyLion account so she couldn't transfer the funds back.
She contacted them immediately, and instead of helping, they've given her nothing but the runaround. They demanded a selfie with her ID in her hand—even after she told them she is bedridden. She still managed to send them four photos, yet they rejected every single one, making up excuses like the ID wasn't "clear" or "readable." Each time, they came back asking for more pictures, giving absurd instructions that are impossible for someone in her medical condition.
This is disgusting, heartless, and unethical. They're holding money that she desperately needs for treatment while wasting time with endless hoops to jump through. In my opinion, this company preys on customers, has zero compassion, and should be avoided at all costs. If you value your time, sanity, and money—run the other way!
show more
show less
Comment
1
0
MoneyLion @MoneyLion
We regret to hear about this experience. We would appreciate a chance to see how we can help. Please copy and paste this form into your web browser: https://mlion.info/customerhelp. Once submitted, a Customer Advocate will reach out to you directly.
show more
show less
Comment
0
0
citizconcerned47 @citizconcerned47
@MoneyLion They're fraudsters.
Beware!! They will try to steal your bank account money!
show more
show less
Comment
1
0
MoneyLion
chrisdcotto @chrisdcotto
Report Abuse
1 Star Rating
Poor app. Customer service provides no support and has no way to verify their own malfunctions. Canceled my account due to the inability to withdraw money because of their inadequate process, which they cannot guarantee works or verify malfunctions.
show more
show less
Comment
1
0
MoneyLion @MoneyLion
Thank you for your feedback, and we apologize for your experience! We'd appreciate a chance to speak with you and see how we can help. Please copy and paste this form into your web browser: https://mlion.info/customerhelp, once submitted, a Customer Advocate will contact you directly.
show more
show less
Comment
0
0
Review MoneyLion
MoneyLion Q&A(45 questions)
Get answers to your questions about MoneyLion below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Earnin, MoneyLion, and Dave are among a handful of loan apps that do not check credit. Rather than performing a credit check, these loan apps require you to link your bank account to verify that you have recurring deposits and a positive balance, proving that you can repay the loan.
There are other ways to borrow money without lenders running a credit check as well. Most notably, no credit check personal loans offer larger loan amounts and longer repayment periods than loan apps, but no credit check loans can come with steep interest rates.
No, MoneyLion doesn't issue any credit cards at the moment. However, it does offer a credit builder program that lets you loan money and helps you work on your credit score, among other things.
If you're interested in applying for a real card, check out our editor's latest picks for the best credit cards on the market. Whether you're looking for a card with a good 0% APR offer, one offering rewards, or one for people without a credit history, you can certainly...
MoneyLion can be a good financial company if you're looking for a free online checking account. They offer RoarMoney, a checking account insured by the Federal Deposit Insurance Corporation (FDIC), with no monthly fees, ATM fees, and no minimum balance.
However, there are a few drawbacks to consider. Since it's primarily an online financial institution, it may not be ideal for everyone. Additionally, it offers a low APY and has been sued by the Consumer Financial Protection Bureau (CFPB) for imposing illegal...
Yes, a MoneyLion account is FDIC-insured through its banking partner Pathward up to $250,000 per customer, per account ownership category. This means that even if Pathward fails, you will eventually be able to recover an individual account's balance up to $250,000.
If you have a joint account, each co-owner of the account is considered a separately insured customer. As a result, you can collectively recover the account's balance up to $500,000 in the event...
Yes, MoneyLion offers early direct deposit through their RoarMoney account. By setting up direct deposit with your employer, payer, or benefits provider, you can receive your paycheck up to two days earlier than your scheduled payday.
Please note that the exact availability time may vary depending on your employer's payroll processing schedule and other factors.
For more specific information, you can check MoneyLion's website or contact their customer service.
There is no minimum credit score needed for a MoneyLion loan. That's because MoneyLion does not do a credit creck at all, which means even people with bad credit or no credit can qualify. However, there may be more worthwhile alternative lenders for you to consider.
MoneyLion typically posts direct deposits on the scheduled payday. This means that if your employer is set to deposit your paycheck on a specific day, you should expect it to appear in your MoneyLion account around that time.
However, in rare cases, a transmission error or transfer irregularity might delay the availability of your funds. If this happens, you'll usually receive them within five (5) business days after MoneyLion receives the deposit.
When you open a RoarMoney demand deposit account, you will receive your virtual debit card immediately within the MoneyLion app. This means you can begin shopping online, and you can connect your virtual card to Google Pay and Apple Pay immediately for tap to pay transactions. If you would like to order a physical debit card, you may do so within the MoneyLion app. You will then receive a MoneyLion Debit Mastercard®, issued by MetaBank,...
To unblock your MoneyLion account, you will need to call their customer support line at (801) 252-4427.
1
0
View more answers
Important Disclosures
Ad Disclosure: Certain offers,
companies or professionals (collectively “listings”) that appear on this site, originate from paying advertisers.
For full transparency, here is a list of our current advertisers.
Advertisers compensate WalletHub when you click on a link, or your application is approved, or your account is opened. Advertising impacts how and where listings appear on this site (including, for
example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array
of offers, companies and professionals, but our listings do not represent all financial services companies
or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does
not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely
independent and not provided, commissioned, or endorsed by any issuer, as our editors follow a strict
editorial policy.
WalletHub is not a financial advisor. Our goal is to provide you with top-notch
content, data, and tools. You are responsible for deciding what financial products and providers are best
for your needs.
We work hard to show you up-to-date product terms, however, this information does
not originate from us and thus, we do not guarantee its accuracy.
Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering
institution. Please let us
know if you notice any differences.
