Moneytree Reviews may 2025

I successfully paid off a loan with Moneytree, but a week later, they sent an electronic check to our closed account, resulting in the payment being returned due to insufficient funds. They repeated this process three times without our consent. When I contacted Moneytree to rectify the situation, I was shocked to learn that they were still charging late payment fees to the closed account and were unwilling to correct their mistake. These erroneous charges further overdrew our account. To make matters worse, the supervisor I spoke with displayed extreme rudeness when we requested a resolution.
Moneytree's stance is that I am responsible for having funds in the bank, despite the fact that the account for the loan had been paid off earlier. Sadly, Moneytree appears to be one of those "Quick Loan" companies engaging in unethical business practices. I would strongly discourage anyone, even my worst enemy, from considering their services. For those interested, I recommend researching a lawsuit filed against Moneytree and its executives by creditors. It will shed light on their questionable practices. Unfortunately, this platform does not allow for a negative rating, but it's important to share this experience.

Their customer service is incredibly poor. I was assured that they would review the incident on camera and follow up with me, but I have yet to receive any communication from them. Not only did I not receive an apology, but I also found their customer service to be rude, unprofessional, and disrespectful. It seems like this company needs to be reported to the Better Business Bureau (BBB) and other relevant agencies, as they have failed to address these issues adequately.

I've been a customer of Money Tree for several years, and this year, as they typically do, they requested proof of income. In response, I provided my recent tax return and a current bank statement that clearly displayed my direct deposits. However, they claimed that this documentation was insufficient as proof of income.

My experience was extremely frustrating. I provided them with my tax return, bank statement, and a transaction report from my Square merchant account, clearly demonstrating my self-employed income received via direct deposits. Despite the presence of transaction IDs that could be easily verified, they denied my application simply because my bank statements didn't explicitly mention "Square." It felt like a complete waste of time.

I spent three days on the phone with customer service trying to send the necessary documents for my loan application. Each representative I spoke to either claimed they had no record of my documents or requested additional information. After three days of persistent calls, emails, and faxes, they only approved $200, even though my initial request was for $1,000. This place is incredibly frustrating and a complete waste of time.

I obtained a payday loan from Moneytree that was due three days before my actual payday. It's worth reiterating that Moneytree's practice of setting due dates so close to your payday is highly questionable. Their underwriting process appears either indifferent or ineffective, which raises ethical concerns, if not potential legal issues. Charging interest rates ranging from 430% to 573% is already exorbitant, and it seems they may prefer borrowers to default, allowing them to sell the loan to collection agencies.
Furthermore, Moneytree payday loans rarely contribute to building your credit score. Moneytree doesn't report to credit bureaus, preventing you from establishing the credit history needed for more affordable loans. To break free from the cycle of payday lending, it's essential to work on improving your credit and steer clear of predatory lenders.