Consumer complaint received 2024-10-06 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: MoneyLion Inc.
State: NJ

Complaint narrative:
. This complaint will include, but will not be limited to, violations of consumer banking laws, rules and ethical standards that Moneylion has breached and exhibited during the entire process of my attempt to attain a refund for a {$9.00} " XXXX XXXX '' fee that was charged by debiting my Moneylion XXXX XXXX  account ( Account # XXXX ) on XX/XX/year>. I believe this charge made by Moneylion is in error, was unauthorized and should be refunded immediately. Moneylion has exhibited complete and utter incompetence during this process and has failed to live up to the standards and requirements of a financial institution that operates in good faith and ultimately who follows regulations. After almost an entire month of trying to resolve this issue with Moneylion I have decided that this issue will continue to go in circles and I refuse to give them the benefit of the doubt anymore. This issue is being forwarded to the CFPB for resolution since Moneylion has failed to refund me the {$9.00} which I believe I am rightfully and legally entitled to. The information that follows explains in detail why MoneyLion is in error and how this issue occurred and continues to go unresolved. 

HISTORY : In early XXXX of XXXX, I was attempting to enroll a Moneylion Credit Builder Plus Loan ( CBPL ) program and was denied. This denial was surprising to me because I had already completed two other CBPLs successfully prior to this attempt so I contacted MoneyLion chat support to see why I was being denied. The representative told me that I was being denied the ability to attain a CBPL because I needed to sign up for a XXXXXXXX XXXX in order to be approved for a new CBPL so I followed the representative 's instructions and purchases a XXXX XXXX  priced at {$9.00} per month. I then proceeded to apply for the new CBPL again, but surprisingly was denied again. I recontacted support and eventually I was told that the actual reason I was being denied was that the banking institution I am using for the CBPL reference ( XXXX XXXX  ) is no longer considered as one in which they will accept for reference. I immediately asked for a refund of the XXXX XXXX fee because I was incorrectly told to sign up for the XXXX XXXX in order to attain the new CBPL and stated that I had no need for the XXXX XXXX if it was not necessary for getting a new CBPL, effectively telling them to cancel my monthly XXXX XXXX commitment. Eventually I received a {$9.00} refund of it on XX/XX/year>, which I believe served as an additional confirmation of my XXXX XXXX 
On XX/XX/year> I noticed a new {$9.00} XXXX XXXX fee being charged to my account which should have never been charged as I did not renew my membership again. This 2nd {$9.00} charge and my inability to get a refund from MoneyLion is the basis for this complaint. 

COMPLAINT : As I had cancelled my XXXX XXXX immediately after signing up based on the situation described above, there is only one explanation for why I was charged {$9.00} again on XX/XX/year>. This reason is due to the negligence of Moneylion to follow through on terminating my XXXX XXXX after the events that occured as detailed above. I had no idea that Moneylion failed to cancel my membership as I had requested and only realized this when I saw the new charge. I had not seen a charge for this until XXXX because XXXX was the first time I had money in this account since the incident described above so I would have never noticed them trying to debit me for the membership until I actually had money in the account that was available for them to take. 

SYNOPSIS : Moneylion 's failure to cancel my XXXX XXXX in XXXX of XXXX  as I had requested resulted in a new {$9.00} XXXX XXXX fee being charged to my XXXX account incorrectly and should be refunded to my account immediately. From the time in noticed the charge up until my last communication with MoneyLion through and email I sent to them on XX/XX/XXXX ( that has gone unanswered ; copy of this email attached to this complaint ) I have gone back and forth trying to explain my case for why this charge should be refunded immediately and that it is due to a MoneyLion internal error. I have contacted MoneyLion about this though no less than 6 support chat seasons and no less than a dozen email correspondence. From these communications I've only received back responses that included numerous examples of a lack of chain of ownership for my issue to be addressed, disjointed or unrelated information, false statements of time periods to expect responses about this issue amongst other actions MoneyLion has exhibited causing this whole exercise to run in circles with no end in sight. 
Moneylion has a customer support system that lacks the methods and procedures that are needed to provide an effective, adequate and acceptable customer support apparatus. 
Throughout this taxing process, Moneylion has shown to have a wholly sub-par customer service apparatus in place that is most likely required by law or regulation to exist. It is impossible to ascertain a chain of ownership on any issue I raised as can been seen by the number of different MoneyLion employees that I have been in touch with concerning this issue. The last email I got from Moneylion marked the XXXX Moneylion representative I had been contacted by through email or spoken with in chat support about this refund. All but 2 of these people that I've been in touch with in chat support or through email has given me a completely different support ticket number to reference. Every single person I spoke with told me they could not find prior information about this issue and I had to explain everything again. 

This all leads me to the reason I am filing a complaint with the CFPB. The issue is very simple- MoneyLion has charged me {$9.00} for a membership I had cancelled months ago and did not rejoin. They have failed to refund me to this day after a month of attempting to request/demand the refund.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation