Money Mutual Reviews

Be very aware of what you are giving Money Mutual. Montel should be personally sued for what this supposed company does. In a very tough situation, I filled out the form and didn't know what to expect. I was matched to loan company and examined the documents. Once I noticed the interest rate of 919% (and NO it is not a typo) I tried to cancel the loan. The loan company deposited the funds into my checking account. I contacted the company several times via phone, email, and chat. No answer. The first payment went out of my account for $280 causing more problems for my account. I did not not want the loan but had no ability to cancel it. If I pay according to their terms my $800 loan will cost over $3,000.

Upon checking with the Iowa State Board of Banking, the company that loaned me the money, an Indian owned business, is NOT authorized to loan money in the state of Iowa. Mountain West Financial MUST have a physical presence in the state of Iowa in order to loan funds to Iowa consumers. That is in the Iowa Code. So - I have faxed the documents to the state of Iowa whereby they are investigating this company. Had to put a stop payment or freeze on my checking account. According to the state of Iowa I should only pay the principal on the loan and that is it. It is ILLEGAL to charge 919% interest on a loan!! DO NOT USE MONEY MUTUAL!!

Very helpful agents. They really value your time. Very happy I chose to use money mutual. My only complaint would be is that repayment for the loan is a bit expensive. They offer many options that allow you to repay the loan in a comfortable time frame. They can take payments directly from your checking account. Very forgiving deadlines. There is a 60 day max on paying back the loan. I find this convenient because I have other bills to pay on top of repaying the loan. The additional fees are tricky. When I did the math they charge you about 35% on the loan which is about 10% higher than local loan institutes.

I was a new customer submitting an application via phone for a short term personal cash loan.The pre-recording requirements for getting the loan was misleading to qualify for a "matching lender". In the prerecording qualification, the requirements stated you need: 1) to have an active checking account, 2) make more than $800 monthly, 3) have an active email. I met all of the recorded qualifications to apply. Nowhere in the "pre-recordings" was mentioned you needed additional qualifications to be matched with a lender. Personal information was required to be given to a phone representative (including my checking account & ss#) before the application was submitted to a network of lenders. Although, an explanation of the loan process was read to me by a Money Mutual phone representative prior to authorization of submitting the loan application; the OMISSION of the possibility to be unable to match me with a lending institution was not properly explained.

The emphasis was on specializing in networking with lenders that could have the money in your account as little as 24 hours. In fact, I was informed that the lending networks associated with Money Mutual does not "generally" take credit worthiness information from Experian, Transunion & Equifax. Needless to say, I did not receive the loan via phone & was instructed to apply online as a returning customer. Since I didn't get a loan with a "matched lender", why would I be instructed to apply online & click "returning customer" when I was a denied customer! These play on words gives false hope & misrepresentation to people such as myself who generate an income well above the qualifications but cannot obtain loans the traditional way. 1-800-555-2274, call them & see if my claims are valid.

The company they provided was a bunch of bs. They told me I was approved. I went through the whole process. Told again I was approved. Would receive the money in 2 days. Then I get a call saying it was not approved. And they don't know why. And will not give me any info as to what happened and why it was not approved.

They approve anyone for loans but when it comes back to owing them, they take way more out of your account than expected. They are a total scam. I was approved for $250 and like others, the company took $450 from my account. Additionally, I had three other company deposit funds into my account without my knowledge. They were supposed to help me, not scam me. In addition to that, many others have gotten this problem. The ratio is totally unfair. I will never use this service again and I do not recommend it. I had to file bankrupt and they still sent spam mail to my P.O and email. People have made so many complaints about this website. They take out more than they should. Especially with struggling families. They do not care and it's a never ending cycle.

The application process is fast, and you'll get the loan if approved in a day or so. I applied online. It took about ten minutes to fill out the form, and I was approved. The customer service answers any questions that I had regarding how long it would take to pay back the loan, and what happens if I am late. I thought it was good to help me make a better decision on my loan. The repayment option for me was to pay the loan back within two weeks. I would have liked more time but this was acceptable. The other option to pay the full amount before the two weeks would have been impossible for me to do. Additional fees can be $40 late fee if it goes past the due date. I think that is a little too high for the late fee. And it is also charging you per day which can add up too much if you don't watch out.

The customer service was really good, you can't compare that to anything else. It is good to have something like that where we can always upgrade. The extra service is a great fit for the company. You should always have that opportunity to do so in order to be successful. The repayment option is very flexible and fun. The timing of this service is really good. We need something like this in every other companies. The additional fees are very small but should be cautious about it. In order to do something like this you need to have a sense of security and love.

MoneyMutual connected me with a lender: MAX Lend who offered a payday loan of $336 at an interest rate of 779%. Would have monthly installments of $215 for 6 months. You do the math. Insane and predatory website. Stay away!

I'm very happy with the customer service department. It is very reliable and I would recommend this to anyone who wants to use this service. The extra services for Money Mutual is excellent and I would recommend this to anyone who wants to use this service and pass the word on to their friends and family. This is ok as payment fluctuation happen all the time so that isn't one of my favorite parts. The rates can get a little high so therefore it's not for everyone ok. Not perfect. And there's the additional fees that get for service late and start up after the loan. There needs to be a better system for additional fees. I wouldn't recommend this to anyone who wants to use this.

The online application was quick and simple. I would recommend all my family and friends to experience the hassle free way of borrowing money since this eliminates having to take time off from work to go to a lending institution and wait to be approved.

You would be better off going to a loan shark. I made 8 payments of 129 for a 500$ loan. I paid it off today for 465. How can they possibly be legal?

They are very helpful and kind. Great to work with. They care about you and really want to help in any way they can and take the time to explain things and get you through it as fast as possible. They do offer extra services that can also really help you which is really great as well and people really like that. Don't know a lot about the services but they are willing to help you find out. They offer different ways that you can repay them which is great and that can really take off some of the stress of owning money to someone. They do all they can for you. They have some fees but that's to be expected. That's how they make their money. That's how they stay in business. Everyone has some kind of fees no matter where you go these days.

Do not get a loan from this company! They commit fraud. The loan % they charge you is different than actual loan. I got a $1000 loan and after 4 payments, tried to pay it off early since the guy I spoke to on the phone said I would pay less than loan. Wrong! I owed more than double at about a 400% interest rate. These guys are crooks and should not be in business. I even filed a BBB complaint and what a surprise, they never answered!

The customer service itself was good. They were helpful and friendly. They gave me advice on paying my loan off quicker. They answered all the questions that I had. There really wasn't any extra services to rate. I was just happy with the service but not so happy about the rates. But beggars can't be choosers. The repayment option was decent. I have chosen to pay twice a month in order to avoid paying more interest. Plus this will pay it off faster. The only additional fees that I know of with the loan is if the loan is past due so many days. The fees seem kind of steep but that just encourages me not to be late.

Gave me the rates I needed when I asked them for a good deal, very favorable indeed. I thought they were great on the phones too. They got to me in a fast manner that I liked. Overall I was given a great rate and a payback time that fit my needs. Besides that, they overall were great to work with and really helped me out. I got a great repay date at a rate that fit my paydays and got them paid back in a very timely manner. That made me feel better than I did before. There was just a rate they charged me. No over fees because I was on time of course so it was all good on my end overall and had no issues.