Consumer complaint received 2024-01-27
Company: MoneyLion Inc.
State: MO
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XX/XX/year> I submitted a request to Moneylion regarding why I was not able to access my account. I received an email with a verification link. All documentation was submitted. A generic response said it would take 1 to 2 days to review. 

XX/XX/year> I called to inquire about my verification as it still was not done. I was told my account was closed and my payroll funds dir3ct deposited that day would be returned and additional documentation was requested. I send the same documentation I had provided before. I contacted my employer HR department to determine what my next step was regarding a returned ach if my paycheck. 

XX/XX/year> I received an email stating my account was on hold and I needed additional verification sent. 

XX/XX/year> I called again to find out this time I needed to submit a selfie with my arm showing and the license by my face. I was told it would be that day or the next day and my account would be upheld. I sent the requested info XX/XX/year> I called again because my account was still unaccessible. They said I had a hat on in the picture so I needed to send another one without the hat and the timeline would start over. Another XXXX to XXXX business days. I provided the picture. I called again later in the day to get further clarification on what was going on and was told again the pictures were wrong because the word screenshot was in the file name. This was following a statement by the reprentative that the everything would be resolved tomorrow ( a Saturday ). I asked to speak to a manager because the rep could not provide me the details I wanted to know. Which were : The number directly to the fraud department The policy that states how many days they have to notify me of a hold. 

I spoke to XXXX the manager who offered zero assistance and instructed me to contact their Trust and Safety department listed in the email. He also told me that Saturday was not a business day so it would likely be another week for verification. No resolution was found. 

Further information to include. Three different emails had timelines for resolution. 1 to 2 days, 4 days ans 3 to 5 business days. 

The trust and safety department number listed in the Email provides no option to speak to a representative. XXXX I felt discriminated against as if I was a criminal. I don't even have a debit card to this account to run any other transaction but had yet to change my direct deposit. The only transaction that comes in is my payroll, that has happened twice a month for over a year. 

My entire access to Moneylion was put on hold so if there is suspicious activity how can I even see it to dispute it if I needed to. This cuts into the timeframe of time to dispute. What if I had a loan payment due? I can't even access the account to pay a loan I have with moneylion. 

Twice they told me my account was closed but never returned my paycheck to the originator. Their definition of hold and closed are confusing and being used interchangeable but have different meanings.

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with non-monetary relief