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From the business
Installment Loans and Lines of Credit between $200-$3,500
MoneyKey is an online lender and service provider.
Apply online and verify your information; the process is quick1. If your application is approved, you may receive funds the same business day2.
MoneyKey is a state-licensed direct lender in Delaware, Idaho, Kansas, Mississippi, Missouri, Tennessee, Utah and Wisconsin. In Texas, MoneyKey is not the direct lender but is licensed as a Credit Services Organization and a Credit Access Business. In this state, loans are funded by third-party lenders and serviced by MoneyKey.
The CC Flow Line of Credit is provided by CC Flow, a division of Capital Community Bank, a Utah Chartered bank, located in Provo, Utah, Member FDIC. The CC Flow Line of Credit is serviced by MoneyKey.
1Not all applications are approved; duration of process may vary.
2If approved, any requested funds may typically be deposited into your bank account the same business day. For specific funding cut-off times here.
MoneyKey Reviews Summary
MoneyKey has garnered a mixed reputation, with many customers praising its efficient service and supportive customer representatives who provide clear explanations of loan terms. Users appreciate the quick access to funds and the flexibility in repayment options, often highlighting the professionalism and patience of staff. However, concerns arise regarding high fees and the complexity of repayment structures, leading some customers to feel misled. Additionally, there are reports of unauthorized transactions and account freezes, which have contributed to skepticism about the company's integrity. Overall, while MoneyKey is recognized for its customer service, potential borrowers should be cautious and fully understand the terms before proceeding.
This summary is generated by AI, based on text from customer reviews
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I tried calling money lwy to let them know i would be paying late. I was then replied to by someone name Tavis. He informed me that unless i have extenuating circumstances like a doctors note, or a letter stating my pay dates had changed they couldnt help me. Really a drs note? What a douche bag i will not be using them again.
I had questions on my loan, I borrowed or was lent $325.00. I understood the whole fees, interest, blah blah blah. :) What I wanted to know was what my remaining balance was, so I emailed the company and was replied back from a Karen. She did not answer my questions at all. I've called and called and finally today, I finally got to speak to a real person. She informed me that my next payday I will being paying $33.00 plus the interest of $77.70 which will total $110.70. Which means, the next payday, this will go up again and I will be paying about the same again, or I can call them and three days before my next payday pay off my balance which is $336.70. Which I am considering doing since the interest does not seem to be coming down at all. *LOL* So for the $325.00 I borrowed on 7-21-2014, today is 10-17-2014 I will have paid MoneyKey $641.10 PLUS... the pay off amount of $336.70 (if I decide to go that route). For a grand total of $977.80. Hmmm hardly seems worth the effort of trying to be approved for a loan. *LOL* I applied because my son was having knee surgery, and I needed extra cash. I should have just paid out of my own pocket for his bills, which by the way I am still paying on and I am also paying MoneyKey back. It was my fault I guess for thinking that I wasn't going to pay back any more then like $600.00 on a $325.00 loan. This amount I will be paying is literally triple what I was loaned. :( Well live and learn I guess. Also if the Rep. Comments on my review, props to your operator that answered your phone. :) She was nice, however, your website should be equipped to allow your costumers to log in and view their documents and be more up front with your clients on how much exactly they are going to be paying back. Kind of ticked me off when I wasn't getting feed back and my calls were not being answered but yet the Rep that approved me in the first place, had me on the phone for over an hour listening to my personal bank account deposits being told by my banker to prove I had income. Really?! I was ticked off, put me through that, well you could at least answer my questions right away as soon as I emailed or called. But good for you that I actually did get to speak to a 'real' person today and she did tell me that the minimum payments that come out of my account will draw more interest and I will have to pay more. Now if someone had really explained that to me while they were going through my bank account I would have been more satisfied. And too be honest, the woman who approved me, did not tell me that I would be paying so much in interest. This is why I questioned the website I wanted to see a listing of my payments, how much interest is being charged, ect. Nothing like that was presented to me. Work on your website to offer this, MoneyKey. :) Maybe then you will have better reviews.
Complete Scam! I had to use a loan to get up to Colorado for a court date and I borrowed the 400. At the time of the loan nothing was explained besides my payment would be $80 per month roughly. The next moth my payment changed to over 100$ and with that I was sent an email stating that that payment will not be going towards my outstanding balance. When I checked how much was owed after that month it jumped past 500$. I have also noticed that they try to get on here and tell you that these people are not making legitimate reviews and saying they are wrong. Here is picture proof from my email! DO NOT EVER USE THIS COMPANY!
This place completely scammed me! I applied for a $500 loan and was approved. The lady sent me the contract and as I went through it I noticed that If I didn't pay the full $500 back within 1 month that I would have to pay $1200 in interest fees! Needless to say, I didn't sign the document, BUTTT some idiot with MONEYKEY forged my signature and deposited the funds in my account. I wasn't expecting the funds in my account and I noticed a couple months later I was getting these weird payments every 2 weeks taken out of my bank account and come to find out it was Money Key! I got out of my contract only because I threatened to sue them for forging the electronic document. DO NOT USE THIS COMPANY! Complete scam artist!
Cody, we are sorry that you feel this way and apologize that you did not understand the terms of your loan or the pay back schedule. It is important to note that we do not offer a product where a customer would be required to pay $1,200 in fees within 1 month. MoneyKey is a completely legitimate, state licensed lender with an excellent customer service track record. We are here for you, should you seek further clarification on any of our products, including, but not limited to the pay back schedule.
I was in a short term jam and needed $400 to get me through a difficult period. Moneykey staff were incredibly friendly and informative and provided me with the funding I needed. In addition, their explanation as to how the fees worked was comprehensive and I also appreciated the flexibility of their paydown schedule. Ofcourse I wish the cost was less but I know from experience that these are not inexpensive loans but they are still most helpful when I'm in an urgent situation. Thank you Moneykey. You are by far the best lender I have borrowed from.
For your saftey and peace of mind never never use this place. Borrow 500 to pay 2000. How does that work. They tell you how much you have to pay back after you agree to borrow money. On top of all that they take more than whats scheduled. And you can't get ahold of them
Hello Mike. We are sorry that there is some sort of confusion. MoneyKey does not work in way that you outlined in your comment. Firstly, MoneyKey allows customers to make any principal payment that they choose to over and above the minimum payment.It can be any dollar amount and we do not have a minimum or maximum. Depending on the state and product, MoneyKey lists a total amount in an installment schedule if a customer were to make no additional principal payments and just let the loan run on with minimum payments. We allow customers full flexibility to pay as little or as much as they want with no penalty to ensure the debits fit their budget.
Secondly, it is not correct to list that you are only informed on how much you pay back after you have agreed. A loan cannot be originated unless one of our customer care representatives have spoken with an applicant. The process of depositing the money and then speaking to the customer about how much they owe is not a MoneyKey practice.
Lastly and most importantly, there either is some sort of confusion on why you say more money was taken than was scheduled. The debits follow your payment schedule. If there happened to be a computer error, we would correct it immediately and provide the necessary refund.
We have not received complaints about not being able to get hold of us since we are open 7 days/week for 13 hours/day M-F and 8 hours on each weekend day. We also have an online chat function off our website and have a team dedicated to responding to customer e-mails.
We hope this clarified your points and would be happy to speak with you about a better experience.
This business is a complete scam! I've told everyone on my friends list about this site. Please people, If you have sense''... Don't do anything affiliated with this company!
Hi Jessica,
MoneyKey is a state and federal compliant licensed and registered lender. We are sorry you feel this way and would welcome speaking to you to understand the root cause of why you feel this way. We have a fantastic track record with many thousands of extremely satisfied and grateful customers because of our service.
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- Sitejabber has helped over 200M buyers make better purchasing decisions online
- Suspicious reviews are flagged by our algorithms, moderators, and community members
Hi Timothy, we are sorry about your experience. For our Line of Credit product, the one you are referring to in your post, is designed exactly as a Line of Credit: customer's complete flexibility to pull up to their credit limit and pay back as little or as much as they like when they like and on their due dates. Our agents are to always let our customers know that scheduled minimum payments do not go toward to the principal. For quality assurance, we record all of these calls. We also go a step further to remind our customer's of this and that is exactly what is written in the e-mail that you received. Our customers have complete control for how they want to pay back their credit product- they can pay the minimum if that fits their budget, or pay the maximum to pay the smallest amount of fees. As detailed on the statement that you received, interest is charged daily. Without knowing your credentials to log into your person account, the reason the following month was higher, was likely due to you having the money out more days than the previous month. The amount owed that jumped past $500, would likely be the total of your $400 borrowed and the interest charged on your line of credit for having the money out for many days. We are happy to work with your and clear up any misunderstandings. Please call us at your earliest convenience. Thank you