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Overall Rating


206 Customer Reviews


MoneyLion is an online banking, lending, and investment platform with paid memberships that cater to consumers with bad credit.

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Customer Reviews

4.1 Stars out of 206 Reviews
5 Star:73% 4 Star:5% 3 Star:0% 2 Star:1% 1 Star:18%
78% Recommend This Company
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Posted on May 2, 2018

Run away from this scam lender

By Will, Charlotte, NC, Verified Reviewer

So first I want to say I am a MoneyLion Plus member. Second I want to tell you to run before you think of joining this because of the $500 loan offer, every single positive review on here was paid for by MoneyLion for $5. The funny thing is they refuse to even pay members the $5 they promised for leaving a positive review on here! They will lie to you from the beginning, and the customer service is horrific. No one speaks fluent English, so unless you can speak Spanish, you are out of luck.

The investment portion of the MoneyLion Plus account is also a scam and in no way do you really participate in stock market gains. Nor can you get your money back or close the account until the loan (if you have one) is paid back in full. You are better off investing with a transparent and honest company like Acorns or Stash. This is simply a payday lender in sheep's clothing who will lie to you from day one and not deliver on any promise they make. Therefore, I have changes the fake positive review I left on here because I was promised $5, which they never even paid.

Do not join, you will regret it. I certainly have, and that is a free, honest review.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 20 People Have Voted

Posted on May 23, 2018


By Gregory M., West Virginia, Verified Reviewer

MoneyLion Plus was supposed to have an investment account and come to find out I was paying $64 every two weeks for nothing! When I paid my account off, they would not cancel my membership until the payment updated in their system which caused me to have to pay another $64, which they will not reimburse. I am reporting them to the West Virginia Attorney General Office because my contract says I can cancel at any time and in reality, you can only cancel after they scam you out of more money. Liars! Liars! Crooks! Crooks! Beware, they will scam you!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 11 People Have Voted

Posted on May 28, 2018


By Victor U., Pleasanton, TX, Verified Reviewer

My wife has paid off two different loans with them was told she was pre-approved for another one, so she applied for it. That was on 4/9/18 and still no answer. Each time she calls customer service they lie to her and tell her she'd have an answer by the end of the day. They had her submit documents several different times and sign documents several different times and still no answer. So, in my opinion, they suck because there is no reason at all that they should be giving my wife the runaround.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 7 People Have Voted

Posted on May 29, 2018

Sucks that 40 bucks can be invested somewhere else for free

By Oscar V., Bethlehem, PA, Verified Reviewer

Don’t bother signing up for this app, it sucks. Bucks can be invested in so much, then paying a membership that you can get for free on Acorns or Stash. Run away ASAP, look the other way. I regret this app so bad. I got robbed of 40 bucks for nothing. I cannot do anything for the first month but pay back them 40 bucks. Just a horrible set up. I suggest going to Scorns or Stash, or even bigger (Robinhood a really good investing app).

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 8 People Have Voted

Posted on Jun 5, 2018


By Jonathan R., New York, Verified Reviewer

I took out a $500 loan with no problem. Really misleading terms. You have to pay $72 a month for a membership fee ON TOP of paying back your loan. I literally pay more for the membership fee every month than I do my loan.

It is disguised as a cool, young, hip millennial app with those flash cards and giving you a dollar every day you get through them.

The only option is to pay off the loan in full. Next paycheck I am paying it off in full and withdrawing all of my funds, deleting the app and never using it again.

The five star reviews on here cannot be real.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 16 People Have Voted

Posted on Jun 7, 2018

Never again!

By Gwen H., Delaware, Verified Reviewer

I have called numerous times, always a different answer. I paid off my loan early and am still waiting for it to clear. It has been over six days now and it still says PENDING! It cleared from my bank days ago. I want to get rid of the MoneyPlus account and can't since the loan payment is pending. Customer service is a total waste of time. They all need to be on the same page. I never got a confirmation email that the loan WAS paid off as promised. I just want my investment money and get the heck out of this mess!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 13 People Have Voted

Posted on Jul 11, 2018

Do not engage with MoneyLion Plus!

By Alex R., California, Verified Reviewer

First, I will say that I really wanted to believe this was a legitimate operation. Now I know otherwise.

I attempted to cancel my MoneyLion Plus membership today, before my stated due date. However, I was told I could not, and the fee was already being pulled from my account, despite the fact that I did not authorize any payment. In fact, I was told I needed to cancel the fee three days ago to stop it, which makes no sense at all.

Amelia, the call agent helping me, was able to put the cancellation form through eventually. However, she did say I might still get charged $79 regardless because she was unable to stop it on her end. Considering it hasn't even been a full month since I signed up, and it was supposed to be pulled on my payday of 7/10, this is five days earlier than I initially agreed to. I am going to report this charge to my bank.

I will say that this whole process doesn't feel legal.

1. Call center staff should be able to cancel a membership no matter what stage in the pending process as long as it is before the agreed upon date.

2. Pulling money from someone's account before authorized is not legal.

3. This whole thing is ethically reprehensible. As someone who works with marginalized communities, those with low incomes are more likely to sign up for these services. Which means they are disproportionately targeted when scams like this happen.

I definitely didn't agree to be charged today and may have to take legal action if they continue to charge me for subscriptions and do not refund the fee.

Please don't open an account with them! It's all fake promises! They don't let you out, and it's a terrible process.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 19 People Have Voted

Posted on Jul 19, 2018

MoneyLion loans are a scam

By Susan G., Beloit, OH, Verified Reviewer

I will never get a loan from them again! I was very satisfied with my previous loans until a new company took over. I borrowed $500.00 on 3/1/18 and on 7/13/18 I still owe $303.50 even though I made an additional $200.00 payment on 7/2/18. That payment was never credited to my account. Although they take the payment out of your bank account on the due date, they hold the payment until the day before the payment is due, meantime accruing daily interest. I have repeatedly asked for an account statement, but they will not send or email one.

I am on a mission to get these crooked predatory lenders shut down. I have filed a complaint with the attorney general's office. Would anyone be interested in starting a class action lawsuit? I have already contacted an attorney for myself.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 21 People Have Voted

Posted on Aug 6, 2018

Won't let you cancel

By Dorothy B., Tennessee, Verified Reviewer

MoneyLion gives you basic info you can get from Google, and MoneyLion Plus is just an excuse to push loans on people. I tried to cancel my MoneyLion account today because I noticed they were still trying to charge my bank account even though I hadn't used the service in two months. I don't and never have had a loan with them. I contact customer service to cancel with them, and the rep tells me I have to pay $143.79 in order to cancel. $143.79 to cancel a membership I couldn't use already. I honestly would avoid MoneyLion. It's not worth the hassle.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 23 People Have Voted

Posted on Sep 26, 2018

Horrible experience

By Marie A., New York, Verified Reviewer

My overall experience with MoneyLion was horrible. They are so fast to take $29 every other week from my account plus other fees, which total to over a $100 per month after I took $500 loan. Needless to say, the headache following up on my money that they’re supposed to deposit into my account is still in process. I’ve canceled my Plus membership and paid my loan over a month ago but still waiting for my money? They will lure you into getting points to get a $25 gift card just get all your personal information. I’m a US Veteran and have a 753 FICO before, now it’s down to 733. It hurts vs. help build my credit score. Their customer service sucks in terms of following up on members who canceled membership and will tell you they’re always understaffed? Horrible experience with MoneyLion. Beware of this app.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 16 People Have Voted

Posted on Oct 27, 2018


By Jesse V., New York, Verified Reviewer

Thus far I have yet to have a good experience beginning with customer service being rude and condescending. The $1 cashback bait for swiping only works when it wants to. As of today they owe me $4 for unregistered login. I am not holding my breath, I'm sure they don't care. Save yourself from wasting your time unless you really need the $500 upfront.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 15 People Have Voted
Showing 12-22 of 206

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