Consumer complaint received 2018-11-05
Company: MoneyLion Inc.
State: IL
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Getting the loan

Complaint:
I received a " pre-approved loan '' letter from a company called XXXX XXXX in the mail in XX/XX/2018. I applied and was routed to Money Lion 's website. That should have been my first red flag. I applied for my " Pre-approved '' loan in XX/XX/XXXX and had to provide my bank information. A message appeared on the screen that said " We want to get to know you better, wait 30 days and your will be eligible for the Plus loan ''. In the meantime I was receiving almost daily notification via mobile about my bank balance. It was annoying so I turned the bank notification off. I reapplied for the Plus loan in early XX/XX/2018. The website still showed I was pre-approved. In trying to complete the loan application again I was asked to provide my bank information. I did but this time my bank did not show up in the list of available banks in their database. I could see from my history that they were able to access it before so I called customer service. I was told that my bank was on their approved list and should show.. but it did not. I gave bank name and routing number and the rep said - yes- it on our list and decided it was a " technical issue '' and he would " put in a ticket '' and call me back when it was fixed. I never heard from him again. I called a week and a half later and was told that there was no record of my call or that " ticket '' so the customer service rep put in another one and said I'd be contacted in 1 -3 days. Never heard back from anyone. But - I tried to apply online again and Eureka! my bank account suddenly was showing again. So, I applied for the pre-approved Plus loan again. This time over the mobile app. It showed that my first payment would be due XX/XX/XXXX ... wait what?? It's XX/XX/XXXX how is my first payment due two months in the past? It still shows this on the mobile app. So, I try the full site on my laptop. This says next payment is XX/XX/18,  that's better. I continue with the application even getting the confetti saying I qualified and am asked to " Esign '' the membership, loan and brokerage agreements. I get to the end, sign my name and then .... nothing happens. It buffers with a spinning wheel as if it's processing but it does that for hours. Nothing happens. I called and explained no less than 4 times and with each call I got different answers from you don't have a membership to you just joined yesterday and have to wait 30 days to try a different browser. No one knew what was happening but with each call the rep said they would " escalate and put in a ticket to the support team '' and someone would contact me within 1-3 business days. Never was contacted by anyone from the " support team '' I tried the mobile app and same thing - I sign the agreements and then get an error code saying " It's not you, it's us try again in 15 minutes ''. I been trying to get this loan I'm approved for three weeks now and still no one has contacted me or fixed this issue. The last two calls I made ( after being on hold for 20 and then getting hung up on before a rep answered - twice ) I asked to speak to a supervisor. these calls lasted an hour each because of the hold time. I had one supervisor tell me - '' Look what's happening is a technical issue, it's been happening for about three weeks now and it's a known issue. The truth is we have no idea when it's going to be fixed '' Really? Every successful company has technical issues - but - they are resolved in a timely manner AND the customer is contacted and in communication with the support team. On the XXXX Money Lions responses you will see their message that says " Technical issues will be handled by our support team '' It ' has been almost a month with one technical issue after another and I have NEVER been contacted by the support team. Meanwhile I have an membership that I assuming I'll be paying a fee for my next pay day I have but nothing to show for it. This is not a good way to build a good reputation. If you offer a product - deliver. 
Update : XX/XX/XXXX after emailing : the support team '' and filing the above XXXX complaint I finally get a reply from Money Loin saying the may have resolved the technical issue and to try logging in again from the mobile app after waiting one day. I do. Now the problem is worse. It asks me for my bank information over and over each time after I provide it kicks me back to the screen where is asks for it again - over and over. I email support. They say give me you bank account information maybe we don't support your bank. No way - how can you not support my bank when you've been sending me balance notifications and my bank account information populated in your system before you tried this " fix ''. So, the next day I try logging in again. And now it gets even worse.. the good news, my bank information miraculously was automatically populated and displayed. The bad news, now they are treating me as if I've never had a Moneylion membership and must now fulfill a 30 day waiting period before applying for the Plus loan. I met that requirement already from XX/XX/XXXX - XX/XX/XXXX. I went from signing the loan documents and having a technical issue prevent the submission to not having a membership at all and having to wait to become eligible again. This makes no sense. This is beyond unreasonable and I've been more than patient. I was pre-approved in XX/XX/2018. I signed up in XX/XX/2018. I was told to wait 30 days and now 5 months later it as if I am joining the service for the very first time today? I have attached all supporting screen shots from my PC and the Money Lion Mobile app. I have also attached supporting email documentation supporting my claim. This claim is now for failure to deliver an advertised product and service and false and deceptive business practices.

Company response to consumer: Closed with explanation