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How would you rate MoneyMutual?
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California
26 reviews
80 helpful votes
Follow Josh A.
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They are supposed to allow you review loans first by their lender network, however they simply just deposit money into your bank without your approval or authorization and expect you to pay it back! Second time around I went with AffordaCredit.com which was 100x better, as they approved me for a much larger loan amount and allowed me to review which lender I wanted before depositing into my account.

Date of experience: December 10, 2013
Washington
1 review
1 helpful vote
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It may not be a scam but it is taking advantage of those in need. It is hard to believe that montel (who claims to care) would endorse any type of program such as this. I will not belittle and dismiss those who were caught in this web unlike others who carry an holy than thou attude I will however pray that you recover from your problems and be more careful in the future cause I've been there

Date of experience: June 17, 2010
Alabama
1 review
2 helpful votes
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You apply for their payday loans and they turn you down, then you get constant mailers about the money sometimes two or three a week and when you call them to stop sending the mailers out they still keep on coming. If they are legitimate they would honor your request to have the mailers to stop but they do not. All I do with them is put them in the garbage and contact them again and again to stop sending out these loan request.

Date of experience: April 23, 2012
New York
1 review
0 helpful votes
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I'm glad I found this site (will bookmark it for future needs w/other websites!) Like so many others I found myself in a financial bind and my car broke down, needed $ for repairs so I can get to my full time job and full time university classes- no work, no money, so the car is essential. Thank you everyone for taking the time to sound the alarm, when someone is desperate things are done that wouldn't normally be done, but I definitely don't need the problems a loan from Money Mutual would cause! Anyone in this bind, try PL$ check cashing: they offer payday loans as well as smart installment loans and don't rape your checking account for payment. You simply leave them a post dated check for your next payday, which they hold til then. When you come in and pay the loan and fee ( yes, the fees are high, but there's no encumbrance of your email, phone, bank account!), they return the check to you, no perpetual access to your bank account/life!

Date of experience: October 13, 2010
Washington
1 review
5 helpful votes
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FRAUD!
April 11, 2010

FRAUD! Once you fill out the form, they don't contact you and let you review rates and sign agreement, they just deposit money into your account. Its being pitched by Montel Williams. The loan company is really SSM LLC. Dont ever use them.

Date of experience: April 11, 2010
California
1 review
2 helpful votes
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This site is s scam
January 16, 2012

This site is s scam. If you're looking to pay the loan off with-in two weeks good luck! There is no way to pay the loan with in two weeks because the drop down box for making payments is greyed out and will not work! After they withdraw the first payment, which is only the extremely high interest rate, the payment drop down box works somehow works. If youre looking to pay back quickly with one payment look elsewhere because this site wont allow you to. $90.00 interest for a $300.00 loan. After they took out the $90.00 only then they allowed me to set up my payment options which included another $90.00 interest payment. Short & sweet I paid $180.00 on a $300.00 loan. SCAM!

Date of experience: January 16, 2012
Florida
1 review
4 helpful votes
Follow Jessica A.
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They will sell your information to companies that will call and harass you daily from car loans to payday advances. I received a minimum of 30 calls PLUS texts messages daily. Finally I just changed my phone number. You will receive calls from ppl who clearly English is their second language and they have zero professionalism or customer service skills... I ask them not to call and they either will hang up on you or yell at you and tell you they will continue to call... on top of it all. I never received the cash advance. IT WAS A 2 DAY NIGHTMARE. I just changed my phone number today!

Also, I receive a minimum of 350 spam emails each day from cash advance 3rd party companies each day.

Date of experience: September 21, 2012
New York
1 review
2 helpful votes
Follow Janai L.
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I was in a jam and needed money and well I normally read reviews, but I was so stressed that I didn't have time. I am now worried I hope for the best... I know I should have done my research and I did read the fine print... I expect there will be fees so I am going to try to pay it of asap. I will update

Date of experience: November 15, 2012
Arizona
1 review
1 helpful vote
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OMG!
May 30, 2010

OMG! I started filling out the loan app, and for some reason I just stop because it turn out to be a payday loan. I am just like alot of other people very stress and not in the best of health and needed help. But I was talkin to my cousin and he was telling me that you can also get a personal loan instead of a payday. I went back to look at it and I came across this site. I am so so happy that I did because the last thing I need is a company stilling the lil money I do have out of my account. Montel have money and it don't affect him in anyway, but thats about right people with money could careless about us that is living check to check. We need to all pull together and put a class action law suit on this company and Montel for lying..

Date of experience: May 30, 2010
California
1 review
2 helpful votes
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I want to thank all of you that wrote in, you stopped me from making a difficult situation worse. Like many I was laid off, I went through all my savings to keep my bills up. I will be back at work in September, but I have no money left to pay Sept. Bills, I hate falling behind and $1,000 would have kept my payments current. I'm so glad I didn't do this. I pray for the rest of you that shared your bad experience, that some one will help you out of this situation. I was going to buy Montel's Juicer in the near future; but I'm sure that's a lie also. I wonder if Montel knows what this site does to people? Celebarties should know exactly what they are representing it puts their credibility on the line.

Date of experience: August 31, 2010
Tennessee
1 review
8 helpful votes
Follow Stephanie K.
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I have worked for a payday loan company in the past and they are basically "legal loan-sharks." If you find yourself stuck in these types of loans first try transferring them to "installment loans", they have much, MUCH better finance rates and some of your monthly payment goes towards the principle... as long as you don't refinance it you will pay it off within a few months. If you can't convert the loan(s), start with the smallest payday advance and every time you "re-advance" it, reduce the amount you borrow back by $25.00-$100.00 until you have enough to pay the loan off without re-borrowing it. Then move to the next advance reducing as much as you can each payday. Once you are free from these types of loans, STAY AWAY from payday advances! THEY SHOULD BE ILLEGAL!

Date of experience: July 7, 2013
Alabama
1 review
18 helpful votes
Follow Juan M.
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Money Mutual is set up to connect you with the worst loan servicers available. NEVER borrow money from any site that Money Mutual directs you to... NEVER! Instead of having Montel Williams as a spokesman, they would be more accurate about their intentions if Bernie Madoff was their spokesman.

If you borrow the minimum...$300 Your payback amount will be well over $1000 dollars... with 12 payments deducted from your checking account. If you are in a desperate situation for money, please try some other sites first, and make sure your read the contract, fine print and all... before you sign or initial anything electronically.

They almost trapped me, the guy was on the phone talking to me trying to get information, while I was reading the contract online at the same time. When I saw that payment schedule, number of payments, and amount of payments, I stopped the process immediately.

Site such as this don't let you know the payment plan until you have filled out all of the info and scroll down to the last page. If they let you know upfront, no one would even bother to fill out the application.

Date of experience: January 22, 2015
New York
1 review
4 helpful votes
Follow cynthia w.
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I haven't experienced anything.

From all the reviews I have read, I know I will not be doing business with them.

Montel Williams should be shamed out of business for promoting this business and site.

Date of experience: December 28, 2011
California
1 review
1 helpful vote
Follow John R.
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I always like Montel, but apparently he doesn't know what the heck he is endorsing. I was in a crunch and went to that website and filled all my information and punched submit and it went to another site to fill out the same information I just filled in and then wanted to sell me a credit card and debit my account $149.95 immediately and $33.00 every month to join. What a scam!

Date of experience: August 18, 2010
California
2 reviews
20 helpful votes
Follow mike D.
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I got stuck in a bad place needed money so I could make it through. I went to money mutual to get a loan. They connected me with money key. Huge mistake. They gave me a 500 dollar loan. I recieved tye payment schedule and amount after I agreed to it. Not my choice I was told I woupd receive an email first then i could agree. Didn't happen that way. Soo now it goes like this get 500 and pay back 2000 I haven't missed a payment and they withdraw more that whats on the schedule... my advice is never get money from this place EVER. They are liars and theives. I wish I would've known what I would have to pay back before I agreed.

Date of experience: July 7, 2013
Arkansas
1 review
2 helpful votes
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Won't use since reading reviews here, and reading their privacy policy. All these people's troubles with the service could have been avoided (or anticipated) if they just READ THE PRIVACY POLICY, which they agreed to by filling out the application. It says in there in PLAIN ENGLISH what they will do with your personal and financial info; give it to other people so they can market stuff to you by mail, email, phone, cell phone and text message. This is what happens when people think the Privacy Policy is too long or inconvenient to read. Sites like this use that to their advantage. Also, this site does not lend money or arrange for loans. They just SELL YOUR INFO TO SOMEONE ELSE, just like it says on the front page.

Date of experience: April 13, 2010
Maine
1 review
7 helpful votes
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Got a payday loan through one of their "providers" (since it says on it's web page that they refer you to their lender network). Since then, they have illegally given my banking info to at least two different companies that have taken money from me (not the payday loan payments but different companies). One I was able to get credited back. The other, for almost $160, I cannot get ahold of a real person to get my money back. I have emailed Money Mutual but they refuse to respond. I guess that I have to close out my bank account that I have had for years. WTF! Thanks Montel for screwing up my finances. I was fine paying off the loan, but this other sh*t is bullsh*t.

Date of experience: February 9, 2011
Texas
1 review
2 helpful votes
Follow Urbanmommie L.
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I saw the same commerical and have had payday loans before and was thinking of applying to money mutual but am thankful I read the reviews because like every other hard working American I don't have any money to waste or throw away and after the reviews I defintley will not be applying for a loan from them

Date of experience: August 5, 2010
Illinois
1 review
2 helpful votes
Follow Joyce l.
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I am sooooo grateful for this site, I to almost got suckered in. Of course when in need of cash but, Instead of trying it this way I will trust God! Of course Montel makes it seem trust worthy. But He got an endorsement check to do so. And I'm sure he never actually was in need of getting a Money Mutal loan from any of the 60 lenders at an extremely high interest rate.

Date of experience: November 23, 2010
New Jersey
1 review
2 helpful votes
Follow amy r.
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Tried to get loan they tell u no credit needed. Yeah right. We had one company, Money Key tell us we dont make enough deposits to qualify. I didnt give them permision to get that info from my bank. Of coursr we dont make enough deposits thats why we need a loan Duh. Its all a scam to get ur personal Info. Dont do it

Date of experience: June 6, 2012

Overview

MoneyMutual has a rating of 1.9 stars from 99 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with MoneyMutual most frequently mention bank account, payday loan and fine print. MoneyMutual ranks 12th among Payday Loans sites.

service
1
value
1
returns
1
quality
2