Consumer complaint received 2021-10-15
Company: MoneyLion Inc.
State: CT
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Money was taken from your bank account on the wrong day or for the wrong amount

Complaint:
Since XX/XX/13 took advantage of XXXX  where you borrow money in advance and it is deducted from your paycheck. I have used other cash advance programs that are legit and have not had a problem. Except sometime an app cant connect with your bank so you reconnect with bank and business as usual. Anyway XXXX. With I instcash each pay cycle you can borrow a XXXX a time up to your given allowance per paycycle. You can have it turbo delivered for {$5.00} and can leave a tip. I ended being able to take up to about {$360.00} in advance. On my more recent payday/payback day i went to see if Moneylion recieved the automatic withdrawal they get for payment for previous paycycle advances. On Friday XXXX I still owed {$100.00} payment. Thought maybe it was a failed bank connection so I paid it. Well come Monday I saw they did receive the payback of XXXX. Then the XXXX so I paid twice. I called they admitted this said this I would increase my instach so now is XXXX, I continued with my XXXX cash advances. In the end I did not recieve all of them. I recieved XXXX out ofthe XXXX I owe. They said due to a bank holiday the last couple instacash psyments did not hit my account yet. They had me do a credit builder loan where I get {$170.00} now and XXXX in reserve. Do XXXX total I will make XXXX a month in payments and can take out the XXXX when paid up and it will be reported to credit agency. it would be like a low interest loan in reverse stupidly I did it. I though it was low interest come to find out there isXXXX a month membership fee. You dont get your reserve and worst cant cancel the membership of XXXX a month that literally offers no benefit till you pay back all you pay all instacsh and you amount off what theyre are holding for you which they have not given you yet they can hold as collateral. Now you dont need membership to take instacsh. So they lie in what they take back more from your account what you owe for XXXX  so you are forced to take the credit builder app and continue to overcalculate. Then they can hold against they will report to the credit agency which they know you are concerned with in first place. Anyway I called them about the instacsh about t they say I owe in my next paycheck. They resorted to lying saying I owed tips or turbo  fee from random dates. That suddenly they just charged me at random for. I got my bank statements I been daily talkingto reps for hours they would argue at first but with my bank statement would have to put me on hold and recalculate they would then say yes your right there have been delays due to Holidays. Although I assure you still have XXXX instacash payments coming your way will be on your account tomorrow. Next day nope not in account. I would call same thing over and over argue trying to pull up random dates of previous times I took advance that were accounted for from weeks before. Again would send rep in email my bank statement. They would admit said put ticket in would extend due gadget wait to see in my account and I never got but they saying I owe triple what I owe forcedmy I a predatory loan for lines that I didnt borrow that they could harass me over and ruin credit I finally started rebuilding. In the end I never got the mobey and when I call they continue the denial but when I email my bank statement they admit it. Just now its been too long for the money to have to not cleared with my bank so they get frustrated and want to cherry pick payments they made to me and not point payments they recieved. Then bring up hidden charges that I may nit see on my end that are only a few dollars anyway and dont account for the couple to a few hundred dollars in over charge. Which I thought my was at XXXX but think actually more in consideration of what they saw I owe my next pay days. I asked them to send a break down multiple times they said they would email it and never do.

Company response to consumer: Closed with explanation