Consumer complaint received 2024-02-03
Company: MoneyLion Inc.
State: NC
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
A Cautionary Tale of a Nightmare with XXXX XXXX XXXX I recently transitioned my banking to MoneyLion, hoping to leverage their services to enhance my credit score, a challenge for a young entrepreneur with a limited credit history. My decision to switch was further influenced by my husband 's positive experiences with their platform. Yet, my journey with XXXX has morphed into a harrowing ordeal that now threatens the very survival of my business. 

The nightmare began with the freezing of my account following a standard {$4000.00} deposit from a domestic client, a transaction that should have been routine but has inexplicably put my ability to pay bills and even feed my children at risk. 

In my search for answers, I encountered an almost non-existent customer service system. The representatives I spoke with offered nothing but hollow, rehearsed lines devoid of empathy or understanding. Their indifference has been nothing short of terrifying. I've spent the day oscillating between bouts of crying and futile attempts to communicate with Money Lion 's team, culminating in a staggering XXXX hours of calls, chats, and emails, ending in abrupt disconnections and no resolution. 

After being informed of the need to verify my identity, I promptly submitted the required documents : a copy of my ID, a recent utility bill, and a photograph of myself holding my identification. Instead of resolving the issue, each submission was met with a new, seemingly arbitrary critique, the photo didn't show my shoulders, the image wasn't zoomable, and my face didn't match because I wasn't wearing my glasses. The scrutiny intensified with conflicting information regarding my business and residential addresses. 

Each representative I spoke with seemed to have a different story about what it would take to regain access to my account. Yet the message was always the same : an apology followed by their inability to assist. Requests to speak with supervisors or specialized departments led nowhere. My diligence in following their every direction has led to nothing but frustration. 

I'm left with a business at risk, employees reluctant to work for me, and the looming specter of late fees on unpaid bills. The fear of never regaining access to my funds, a fear fueled by similar stories uncovered during desperate research, is overwhelming. This entire experience has left me feeling ill, on the edge of a breakdown, and without hope. Having my account access revoked after providing all the requested information seems unjust and downright fraudulent. 

As I write this, I am distraught, scared, sick with worry, and seething with anger. There was no fraud on my account, only the actions of a company that has now become a roadblock to my financial well-being and peace of mind. I can not fathom how a company can justify such treatment of a customer. My situation is dire, and I implore anyone who reads this to understand the severity of Money Lion 's actions and their devastating impact on real lives. 

I am at my wits ' end with Money Lion 's relentless invasion of my privacy and their unfounded refusal to XXXX me access to my own account and funds. It's a harrowing ordeal to watch helplessly as gatekeepers of my financial lifeline demand piece after piece of personal information, with no end in sight. With every new request, it feels less like a security measure and more like an unwarranted interrogation, leaving me to question the safety and privacy of my most sensitive information. Now they are asking for a clear photo of the front and back of my social security card and yet another photo of my face and my driver 's license. 

Their denial of direct communication with a fraud department, a department that should be at the forefront of resolving such issues only amplifies my distress. It's maddening and deeply concerning that Money Lion is holding my money XXXX, effectively paralyzing my business and personal life. This is not just poor customer service ; it's a blatant disregard for customer rights and a breach of the trust I placed in a financial institution that promised to act in my best interest.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief