MoneyMutual Reviews – Is Money Mutual Useful for Bad Credit Loans?

In need of a bad credit loan? Fighting the urge to give up on your finances completely? While some people may have figured out a way to stabilize their finances, there are many families living from pay cheque to pay cheque. In such cases, the risk of running low on cash is highly likely, especially in times of emergencies. It might be easier to seek help from family and friends, but is there a guarantee that help will always be available this way? Probably not.

Understanding this is a team that developed a platform. Kind of like LinkedIn aims to connect employers with employees (and vice versa), we have an online platform called “MoneyMutual”, which intends to help borrowers. Upon learning about this resource, our editorial team couldn’t stop but wonder how legitimate it truly is. The following review covers the entirety of MoneyMutual and whether individuals should give it a shot!

What is MoneyMutual?

MoneyMutual.com is advertised as a free resource envisioned to connect potential borrowers to lenders. The reason why this team felt the need to serve such an intermediary role is simple, “4 in 1 Americans would not be able to come up with $400 in an emergency, and almost everyone has a hard time making ends meet at some point.”

At MoneyMutual.com, the goal is to ensure that a place with solutions can be resorted to in times of financial turmoil, especially since survival sometimes depends on it. Most beneficial of them all is the learning opportunity presented. By exchanging funds, individuals will discover the ins and outs of the short-term lending industry.

So far, MoneyMutual has served over 2 million people since their founding. Moreover, this platform is deemed a proud member of the Online Lenders Alliance (OLA) [1], an association recognized for setting best practices and standards for online lending businesses and monitoring the Internet for bad players. Here’s a glimpse into the OLA mission:

“To promote a diverse and responsible marketplace for innovative online financial products and services while expanding access to credit for all consumers […] OLA members must be compliant with all applicable federal and state laws; abide by a robust set of Best Practices; and adhere to a stringent Code of Conduct to ensure customers are fully informed and fairly treated.”


How does MoneyMutual work?

Money Mutual works in three simple steps:

Step 1: Provide Your Information

The first step is to complete a simple and secure form that collects personal and financial information for lenders to review. All information is fully protected thanks to MoneyMutual’s use of AES256 bit encryption, as well as the integrated TrustedSite to scan the website for risks. Concerning applicants with a bad credit, they will likely be accepted by a bad credit lender. However, basic requirements must be met. Specifically, borrowers:

  • Must be currently employed or receiving regular income
  • Must be making at least $800 per month
  • Must be 18 years of age and older and a U.S. resident
  • Must have an active chequing account

The latter conditions are applicable to people on a fixed income or who are self-employed as well. To get started on the application, which takes approximately 5 minutes to complete, click here.

Step 2: Lenders’ Review

Once the application has been submitted, lenders will instantly review and determine whether they are willing to work with the borrower. Each lender follows their own pre-determined requirements for decision-making. Should they feel comfortable to move forward, borrowers will be redirected to the lender’s website to complete forms on their end. This step includes reviewing the loan terms and either agreeing to or walking away from the loan. In many cases, lenders will reach out via telephone, email, or text messages to confirm the personal information and to finalize the loan.

Step 3: Access Your Funds

Finally, after signing everything, lenders will deposit the requested funds directly into the borrower’s bank account in as little as 24 hours. Loan fees and repayment terms are agreed upon between the involved parties. Anything at this point is out of MoneyMutual’s hands. Therefore, should borrowers have any concerns, they must be addressed with the lender.


Frequently Asked Questions (FAQS)

How soon will the money be deposited?

As stated earlier, lenders will make a deposit within 24 hours. Accepting a loan offer on a weekend, holiday or any other non-business day will delay the process.

How do I know if a lender is ready to work with me?

If a lender is ready to work with a borrower, the latter will be redirected to the former’s website.

Are the terms and details of the loan similar across lenders?

No, they are unlikely comparable, as the terms and details are decided by each lender separately. That said, individuals should review details on the interest rate, dates for repayment, finance charges, and others before accepting.

Do lenders offer more than $5000?

Most short-term lenders only offer up to $5000.

Do social security, pension, disability, and other benefits qualify as income?

Some lenders might accept them as income, but this might not hold true for all lenders.

What happens in situations involving late payments?

In such cases, lenders might impose additional fees and face collections. If a borrower misses a payment, the lender must be immediately notified, otherwise the consequences might be severe.

How much does it cost to use MoneyMutual?

There is no cost to apply through MoneyMutual. This online marketplace is designed to establish connections and will collect fees directly from the lender, not the borrower. Bear in mind that this team neither receives information on the types of borrowers nor lenders, hence, involved parties must carefully review documents before accepting a deal. Failing to understand the terms and conditions will only put borrowers in further trouble.

For more information on how MoneyMutual works, consider the following points of contact:

  • Phone: 1 (844) 276 2063
  • Email: customerservice@moneymutual.com.
  • Mailing Address: MoneyMutual, LLC, 2510 E. Sunset Rd., Ste 6, #85, Las Vegas NV, 89120.

What do the reviews suggest about MoneyMutual?

To see how truthful MoneyMutual is, our editorial team decided to analyze reviews and/or complaints from Site Jabber [2]. Starting with the negatives, people appear to have been disappointed by the service merely because of the rate at which solicitors try to reach out to them. One user said, “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 text messages daily.”

Others were dissatisfied by the interest rates. Here’s an example: “If you borrow the minimum … $300 your payback amount will be well over $1000.” Many people were also stunned to see Montel Williams as MoneyMutual’s spokesperson. Montel is a respected basketball coach and executive, who amassed a great following! As quoted: “I was shocked after seeing Montel Williams endorse this site then actually going on to read the reviews.”

With respect to the positives, one user appears to have had a positive experience. In fact, their lender is said to have given a loan of $30,000 at a very cheap rate. Interestingly, another user claims to have no problem with MoneyMutual. Instead, they were displeased by the platform’s choice of lenders:

“I have worked with [MoneyMutual] for 2 years now […] So I let the site pick for me and got a loan with Castle PayDay loans. IF YOU SEE THIS ONE DON’T DO IT! I borrowed $600 in August of 2012 and have paid $2047.50 […] The finance charge on $600 was $210 with nothing going toward principle.”

All in all, depending on your specific situation, the positives may outweigh the negatives, despite the higher fees, all of which needs to be considered before proceeding to use MoneyMutual for bad credit loans.

Final Verdict

MoneyMutual is an online financial marketplace where borrowers are asked to complete an application in the hopes of connecting with a lender. This is a platform for those who need an emergency fund of anywhere between $200 and $5000. In assessing the website, we learned that its SSL certificate is supposedly valid, it has been around for quite some years, and it is generally trusted. Unfortunately, there are mixed reviews that warrant further investigation.

Some users insist that their data may have been sold, while others blame lenders (and not MoneyMutual) for their bad experiences. As for the constant calls, text messages and/or emails, this is a nature part of the process. To be more precise, applications are sent to a network of lenders, who all might reach out to see whether a borrower is interested. Ultimately, resorting to such a service usually implies outlandish fees from the lender’s side. If the latter isn’t feasible, individuals might either want to resort to an alternate solution (like seeking a family member’s help) or choose an extremely short-term plan.

Our editorial team appreciates MoneyMutual’s efforts in setting up a service of its kind, but outcomes are likely to vary depending on the lender, which can either be a dream come true or a complete nightmare. For the time being, we encourage everyone to read over MoneyMutual’s privacy policy before anything, so click here>>>.

Affiliate Disclosure:

The links contained in this product review may result in a small commission if you opt to purchase the product recommended at no additional cost to you. This goes towards supporting our research and editorial team. Please know we only recommend high-quality products.


Please understand that any advice or guidelines revealed here are not even remotely substitutes for sound medical or financial advice from a licensed healthcare provider or certified financial advisor. Make sure to consult with a professional physician or financial consultant before making any purchasing decision if you use medications or have concerns following the review details shared above. Individual results may vary as the statements regarding these products have not been evaluated by the Food and Drug Administration or Health Canada. The efficacy of these products has not been confirmed by FDA, or Health Canada approved research. These products are not intended to diagnose, treat, cure or prevent any disease or provide any kind of get-rich money scheme.

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