Consumer complaint received 2024-07-27
Product: Payday loan, title loan, personal loan, or advance loan — Other advances of future income
Issue: Unexpected fees — 
Company: MoneyLion Inc. (WI)

I have been utilizing MoneyLions XXXX for over a year. This is a XXXX interest short-term loan, usually paid back on my next payday. When I started using this service, it would ask for a tip once during the click through screens in the app. Now, it asks for a tip three times. When you click on request funds, it will ask for a tip. Even if you select 0 %, on the next page, it automatically enters a tip. If you are in a rush or just not paying close attention, it is easy to miss. Then, if you do catch it, and once again change the tip to 0 %, it will ask again after you selected the amount of money you wanted to borrow. MoneyLion already charges a XXXX fee for each {$100.00} instacash transfer. Through my time using the XXXX feature, I have accidently paid a tip on top of the flat fee. 
In addition to using the XXXX, I have been using MoneyLion for my day-to-day banking and a XXXX XXXX XXXX. When I have been trying to review my bank account, XXXX history, and XXXX XXXX loan history, I can only view it in my phone application. There is not way to login on a computer and download my banking history or statements. I can not export the information on advances and payments for the Instacash or credit builder loan. I can only scroll through the app to see dates of advances and dates of payments. Also, I can not click on the advances to review the fee and see if a tip was also paid. For payments, I can not see what advances the payments covered or a breakdown of the fees/tips. They have made is extremely difficult to find the statements for banking as I have to click through several menus to find them. 
Further, I have a payment with on my XXXX XXXX loan, that has been showing as past due for reason that are not clear to me. I have tried contacting them over the past couple weeks and it has not been resolved and I have not received a response to why they can not fix it. It was due on XX/XX/2024. I get paid on the XXXX of every month, so there were funds in my account on that day. However, the payment was not pulled from my account until the XXXX and it has been showing as " past due '' since then. I called on XX/XX/XXXX to see why the payment was still showing as past due and was told it should be resolved in XXXX business day. I tried calling for a status on XX/XX/XXXX and had to provide documentation to prove I was the account holder. I followed up this morning, XX/XX/XXXX, and was told the issue needed to be investigated and it would take another XXXX business days. I am concerned that this will be reflected on my credit despite the purpose of the loan is to help build your XXXX XXXX. Also, while the loan is showing as past-due, I can not access the XXXX funds. Unfortunately, I have been stuck in a cycle of needed to use the XXXX and I am unable to get groceries and gas for the week. 
I opened the bank account with MoneyLion because it was advertised to help build credit and wealth. They claim to have various tools and benefits to achieve this. However, at every turn, it appears that they nickel and dime their customers in everyway they can to keep them in a debt loop, needing to access the XXXX and, then they manage to a tip on top.