Consumer complaint received 2022-09-01
Company: MoneyLion Inc.
State: MO
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
I purchased a year of cellular service via XXXX XXXX 's promotion because they advertised they could port in a line and provide unlimited service for XXXX year for XXXX including tax. The ordering software provided a feature to check the number for portability and XXXX confirmed my number was capable of being transferred. Under those conditions XXXX was authorized to charge my debit card for that specific promotion. 

Despite following the instructions included for porting the number and for collecting on my year of unlimited service exactly, I was unable myself to successfully port my number. I sought assistance from XXXX XXXX customer care and so began a runaround that would never end. Ultimately, nearly four months after the original charge to my debit card, XXXX finally admitted they were uncertain how to fix the issue and would not be able to port the number they previously approved. I asked them to refund the {$100.00} as they had not actually met the conditions precedent required to collect on the funds. Their response was that as a pre-paid service they did not have a way to reverse the charge, despite failing to provide me any of the goods or service that were the nexus of the transaction. The boost call center actually instructed me to dispute the transaction with my bank explaining that since they never provided me the service or goods advertised to entice the sale, the sale was invalid and any dispute would be accepted. 

Clearly this wasn't true. Moneylion insisted that the day the time tolled on the dispute was from the transaction date, not when I finally discovered the use was unauthorized as they never completed the bargained for exchange that would trigger my conditioned authorization for XXXX to charge my debit card. I could not have known to dispute the transaction until XXXX finally admitted their mistake and inability to satisfy their bargain for exchange. I immediately reported the transaction to money lion and under the circumstances should have been provided provisional credit. They gave me no credit, no notice of the outcome of the investigation in a timely manner, zero compliance with regulation " e '', no notice they required an extended period to evaluate the claim, again no provisional credit, then they closed the dispute with zero explanation as to why it was considered a valid transaction. 

I insisted that they re-open the dispute and evaluate all the facts. No immediate credit again, no notice as to results of the investigation, no timely response whatsoever, no provisional interim credit, no timely completion of an investigation or timely issuance of any refund, no facts supporting closing the investigation, no argument from XXXX or any evidence to support that boost was authorized to make the transaction while providing no goods or services in return as advertised, no explanation as to why the dispute was closed, no answer for over 45 days until I threatened this complaint at which time they denied the dispute and provided no further notice regarding that or any other of my inquiries. I still am out {$100.00} and neither XXXX nor Moneylion has taken responsibility. In fact both just perpetuated each other 's non-compliance and exacted fraud against me. 

Both companies violated regulation " e '' by initiating ( XXXX ) and tolerating ( Moneylion ) a transaction predicated on a transaction of goods or services that XXXX did not have the ability to complete. XXXX strung me along for a couple months, insuring me if they sent me a new SIM the transfer would complete and they could properly activate my service. They never were capable of doing so, and ultimately told me to dispute the transaction as an unauthorized one since they knowingly enticed me into providing my debit information despite knowing they were incapable of actually completing the service transfer. 

Roar money, ( Moneylion ) despite providing no evidence they had even spoken with XXXX to confirm their side of the story, chose to ignore my dispute and deemed the transaction authorized. I stated over and over again that my authorization was conditioned on the provision of a working unlimited talk and text line with my ported business number. They did not keep me up to date with the investigation. They did not provide any evidence I had authorized the transaction as it was. I still have not received the bargained for exchange that was the premise of my authorization. Moneylion never issued me any credit nor attempted to chargeback the transaction. They never even provided me notice of any resolution for a period of longer than two months with no provisional credit or updates. They still have not provided me any reason for their choice.

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