Consumer complaint received 2023-07-06
Company: MoneyLion Inc.
State: MI
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On and before XX/XX/2023, I was actively depositing and withdrawing money with my MoneyLion online bank account. Once I deposited large amounts of money to my checking account with MoneyLion ; as I was doing online gambling with XXXX ; thats where the problem started. I won several times and would deposit and withdrawal so that I could keep playing the night before and that day. The end result was me leaving {$7100.00} in the account. I then put in for a transfer of {$7000.00} to my XXXX XXXX account. The next morning, not only did the money never transfer but MoneyLion suspended my account, resulting in me not being able to log in. There was no instructions on what to do so I had to XXXX a customer service number. The customer service rep told me they were only able to see an account with my name and social security number that had no money in it. This account had a different email of mine that I didnt know I had. When I told them this is not the account I have been using and that I had lots of money in the account I was referring to having access back to ; they didnt know what I was talking about so I had to look up and provide them with the account I was referring to. Thats when they informed me that I had two separate accounts and the one I was actively using had a different social security number documented with them. I dont know how this happened and asked them to tell me what I need to do to in order to access the correct account with my money in it. They requested I provide several specific identification to verify who I am to an email they provided. I emailed this information and still this wasnt enough for them. They then wanted me to provide proof of my deposits. I sent the XXXX withdrawal screenshots proving the deposits to my checking account to them. They still wanted more proof from XXXX of the withdrawals from my winnings; saying it was insufficient and that they needed more detailed deposit information. I informed them that I would get my lawyer involved since all my efforts in submitting their requested information wasnt getting me anywhere. I had nothing else I could send them as proof of my identity and of my deposits to my account. I immediately received an email informing me that my account was now closed and whatever monies I had would be mailed to me. They wanted me to verify my address and I did that. I never received the check. They also still keep taking money out of my XXXX XXXX for a secured loan I signed up with them with their XXXX XXXX ; causing me insufficient fund fees from XXXX XXXX. Their customer service rep on the phone assured me I would receive my check with the correct amount of {$7100.00} within 5- 10 business days and they would cancel the secured loan and stop trying to take the money out of my credit union. I now have to get my lawyer to help me get my money back and get a new checking account with XXXX XXXX to stop the overdraft fees from MoneyLion.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation