Warning about MoneyLion
I've been using MoneyLion for a few months and it has generally been trustworthy, until today.
I received a text with a code, indicating that somebody was trying to log into my account. I changed my password and thought it was fine. However, five transactions were made, with a total of $480 instacash requested and transferred to my MoneyLion wallet.
What would be the reason for this, you may ask?
Because somebody from INSIDE the company was able to add tips to each instacash request. There are also mandatory fees of $7ish dollars per request. I was able to get the tips voided, but still must pay at least $30 in fees, not to mention the fees that it will cost to transfer any of this money to my bank.
This is VERY shady, and indicates that somebody in the company was given an order to do this to users' accounts. Because the tips and the fees make money for the company, and trap the users from being able to dispute the fees, since the instacash was transferred to their OWN account.