Money Mutual Reviews – Do MoneyMutual Personal Loans Really Work?

It’s very stressful not to have money. If you want to cover your expenses when you need housing, transportation, health care, food, and other costs, things can be very challenging. On many occasions, not having money leads to many problems. When there’s a problem at work or losing a job, it makes these times challenging to find a job.

Budgets are quickly depleted when you have additional expenses. Moreover, there’s also the car breaking down or perhaps needing surgery. Debt can be covered in many ways, yet sometimes the options are limited. It’s challenging to work with banks from time to time, not to mention that there are times when these financial institutions refuse to help. Some people decide to access lending companies for peer-to-peer loans that can be completed faster than traditional loans or banks.

As a replacement, people can borrow money not necessarily if they need it fast but also when their credit score is poor. In such cases, banks do not accept loan requests. The only available loan option for them remains one from lending platforms. This option is MoneyMutual, which provides the best services to its over 2 million clients. It’s tough to come across a reliable loan platform now, so research on the ideal opportunity has been done.

What Is MoneyMutual?

MoneyMutual is a lending platform and website that helps both borrowers and lenders. It’s also named a peer-to-peer platform because it allows more than 60 separate lenders to connect through lending networks. All people looking for short-term loans can ask to borrow money from MoneyMutual. In other words, this company is the middleman that makes loans more accessible and quicker. These loans can be bad credit, paydays, installments, and others.

Those who want to apply for loans with MoneyMutual can visit their website and fill in the forms there. They will get access directly and immediately to the lenders. MoneyMutual will then send them the information needed for each lender individually.

After, the person looking to offer the loan requested will send offers as a lender. This approach for loan requests is straightforward. This is because applying for over 60 separate lenders each time is difficult. Moreover, the best offers available are received without any effort.

Even more interesting is that MoneyMutual also gives loans to people with bad credit. When not able to repay on time or some other variables impacting their credit score, people can always go for MoneyMutual.

More About MoneyMutual

MoneyMutual has existed on the market for over ten years. Its popularity increased because they knew how the monetary crisis would impact people as soon as artificial intelligence and automation rose. Besides, the pandemic arrived too, so more and more borrowers had to appeal to their services.

MoneyMutual is one of the best lenders because it’s one of the Online Lenders Alliance partners. Being part of this organization, members must follow the strictest rules and apply them to their services to prevent abuse. Both lenders and borrowers can be scammed by no longer being paid back. MoneyMutual provides trustable and righteous services for over 2,000,000 customers to ensure both sides. When a loan is provided in 24 hours or less, users are more than satisfied with the ease and the speed of receiving MoneyMutual’s loan offer. Customer service is available for further information via:

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

MoneyMutual Pros and Cons

This section discusses the pros and cons of services provided by MoneyMutual. In general, most people who have applied for a loan with this company were delighted with the services. However, according to some points of view, MoneyMutual might not be that perfect.

MoneyMutual Pros

  • Services provided by MoneyMutual don’t have to be paid
  • It’s straightforward to apply for a loan with MoneyMutual
  • MoneyMutual sends offers in 24 hours or less, which is a short time
  • The funding from MoneyMutual arrives fast
  • The MoneyMutual website is very educational
  • MoneyMutual is in the Online Leaders Alliance
  • MoneyMutual gives individuals access to more than 60 separate lenders

MoneyMutual Cons

  • MoneyMutual doesn’t offer loans in all states
  • After an offer is accepted, MoneyLenders no longer holds responsibility for the loan’s safety.

How Does MoneyMutual Give Loans?

As mentioned above, MoneyMutual is a middleman. In other words, they only have intermediate loans. This means that making a request involves sending that request to other companies so that they can process it and send an offer back.

MoneyMutual’s services aren’t free, as lending companies are charged a fee when providing their services. Technically, no fee is paid straight to MoneyMutual. The lender gets invoiced beforehand.

MoneyMutual uses the most convenient form that must be filled out so that the borrower applies for the loan. After the application is completed, an automatic process that filters the lenders available gets to be implemented. This is sending a request to those committed to a specific transaction.

What should also be known about MoneyMutual is that all its lenders have partial restrictions on the APR value or the annual percentage rate. These are charge rates consisting of the interest rate and the extra fees charged for services. They start at 5.99% and end at 24.99%. Lenders can’t make an offer that isn’t in this APR range.

A loan will likely be accepted, as over 60 distinct lenders are available. On the other hand, the borrower needs to satisfy some requirements when they want to get a loan. This will be discussed further in this presentation.

Before committing to using MoneyMutual’s services, people should consider the company’s terms and conditions. If they don’t want to be bound to these, they can’t access the website.

MoneyMutual Services

MoneyMutual is giving people the chance to connect with loan providers that offer different loans. When it comes to the loan types offered, it should be added that interest rates don’t only make the ideal situation. However, loans are beneficial when having to pay bills or solve an emergency. According to needs, the borrowers need to decide on the loan type they’re the most interested in.

It should be mentioned that lenders don’t check credit scores. Interest rates for different loan types are usually average or high. Those with bad credit scores should rest assured that loan companies aren’t checking their score before making an offer. On the other hand, some companies offer loans at lower interest rates. If the score is under 600, which is not quite in the acceptable range, the companies might not send them an offer.

Payday Loans

The most common loan type on the market today is payday loans, which must be repaid as soon as the next paycheck is in. Therefore, most of the time, lenders ask for the payday date. The APR could be pretty high, so these loans are the most expensive for borrowing money. However, those who are smartly playing with their cards and paying their loan on their next payday can escape the debt cycle. It should also be noted that payday loans offer small amounts of money of around hundreds of dollars. Moreover, they need to be repaid fast.

Installment Loans

To better grasp installment loans, they can be considered as payday loans having to be paid in partitions. When interest rates are compared, these are usually lower for installment loans. The borrowers must be disciplined with payments. If they are missing out on the payback date, then the fees they need to pay can increase. On the other hand, some lenders give their customers a grace period that doesn’t charge anything. These loan types usually last 3-12 months. Since it takes longer to repay them, more money can be lent. These loan types work best when wanting to buy a car. The amount the borrower can borrow can be as much as $5,000.

Bad Credit Loans

Both loans described above are bad credit loans, which means they work when bank loans keep on getting rejected. However, their interest rates might rise when the eligibility options are lower. This doesn’t happen all the time, as lenders also check the bank account balance, income, and employment history. MoneyMutual asks for this information as well.

Cash Advances

A cash advance can be associated with payday loans. These loan types are another way of borrowing money when there’s a credit on the borrower’s credit card. Cash advances are another way of interpreting a bank account’s credit limit. Through the MoneyMutual lending services, people can connect with lenders offering cash advances. Interest rates happen to be higher with this alternative, yet they work when the borrower needs to make a new payment unrelated to the credit card.

Eligibility Criteria

It’s essential first to meet the company’s criteria to be successful in receiving a loan from MoneyMutual. However, this doesn’t mean that lenders will send an offer when someone meets the requirements they have for their services to be offered. Most of the time, when a borrower meets the criteria for a loan from MoneyMutual, they will receive a loan offer. To begin with, they must live in the US and be 18 years of age or older. Second, they need to be given proof of income and have a valid checking account so that the lender can send them the money. The income source needs to meet specific requirements. People can’t apply for a loan from MoneyMutual if they make under $800 a month. It doesn’t matter where their financial resources come from; they need to specify them. Some lenders ask for the employer’s contact info or the person/institution that provides the income. This is something required in the process of requesting the money. While MoneyMutual doesn’t look for the employer, the loan lender may want this information.

Requesting Process

Those who decide to apply for money from MoneyMutual must go through a requesting process. It doesn’t take very long, and they request income information. First, they need to choose the state where they want the loan to be received or where they reside. After, they need to provide their name and email address. MoneyMutual also has a feature through which it sends loan offers on the phone. Those who want to contact them via phone should just put in their phone number. After, they need to provide the information for their income source. In the case of mortgages, they ask if the customer is the owner of the place mortgaged.

The bank account’s information is also essential. It should as well be mentioned how often that bank account receives funds. The following information provided must be the payday date. Sometimes, the borrower needs to check with the bank for the payday date of the loan. The employer and their contact information must also be mentioned since lenders usually contact them first. The ID and driver’s license number are also necessary, just like the state information is. Last but not least, for the money to be received, the lender is asking for the bank routing and account numbers.

Receiving the Funds

Since MoneyMutual automates the loan procedures, it only takes minutes for them to contact the lenders they have available when someone applies for a loan. Another of their website’s features, before the form is filled out, is showing how many lenders are available. Whenever checked, the lenders were over 60 in numbers. As soon as the lenders have received the information they need, it’s time for them to process the loan request, depending on the factors involved. A response might arrive shortly after a lender has reviewed the submission. On average, the time for loan requests is around 24 hours. Some lenders work during the week, so borrowers shouldn’t ask for their services during the weekend. The guarantee that loan offers will be received doesn’t exist. However, those who have an adequate income usually receive a few proposals. Interest rates typically vary depending on lenders.

MoneyMutual’s Fees and Costs

Borrowers should expect to pay nothing when using the services offered by MoneyMutual. The request for a loan indeed doesn’t cost them, but they can be sure that their lenders will get charged. And the company charges according to how much has been borrowed. They usually charge 15% of the loan amount’s total. When lending $1,000, the pay for the lending services will be $150. In other words, the expenses with MoneyMutual are pretty high. Despite the lenders’ interest rate, additional charges should be expected. The fees are for interest rates, middleman fees, and lender fees. They usually show as APRs (annual percentage rates).

Interest Rates

The interest rate stands for the money charged by the lender. The value of the interest rate is a percentage, and borrowers must seek the lowest when it comes to interest rates. Banks often offer personal loan rates of 25%, depending on the lender’s credit score. There’s also the situation in which online lenders increase the percentage to 36%. This is a cap number in most states. Loans might have even higher interest rates.

Annual Percentage Rate

The APR is a complex and higher number compared to the interest rate. It depends on MoneyMutual and lender’s fees. First, the administrative fees must be added to the value of the interest rate, then be divided by the loan amount. Next, it must be divided by the number of days for the loan term multiplied by 365. This is calculated as the APR rate is annual. When the final number has been obtained, it must be multiplied by 100 to get the percentage number. The 400% APR average payday loan has a 15% fee, which is relatively higher than credit card APRs. Some states cap percentage rates so that lenders don’t increase these numbers.

Why Was MoneyMutual Chosen for This Review?

The services provided by MoneyMutual were reviewed because getting a loan with help from this company is very easy. As mentioned previously, MoneyMutual is the middleman connecting borrowers with lenders. Their services are excellent, and they send requests to over 60 individual lenders.

Ease of Use

Borrowers don’t have to send many requests to obtain a loan. Their situations are varied because many factors influence them. Usually, lenders don’t give the best interest rates, and the borrowers need to look for themselves for lenders that they later must filter. On the other hand, MoneyMutual allows choosing the loan with the lowest interest rate without even trying too much.

Free Services

Another great thing about this platform is that it provides free services. Many people are scared of being scammed, but this is never the case with MoneyMutual and the lenders they work with.

Educational Platform

Those in need of a loan need to educate themselves first. And they can do this by visiting the Resources section on the MoneyMutual official website, where they can learn how the loans and the fees work there. MoneyMutual wants to teach their customers how lenders can be untrustworthy because they increase their rates and fees almost to the maximum. Many lending companies are appearing nowadays, seeing that more and more people need money.


Sometimes, borrowers get scammed when trying to lend from companies that aren’t trustworthy. The signs of a scam can be spotted by analyzing the instructions provided by a lender. Loans can be funded by paying the lender some fees. But MoneyMutual doesn’t have this type of lender on their list. Besides, the Online Lenders Alliance doesn’t allow them to collaborate with any company that might scam customers. MoneyMutual works with 256-bit encryption, which means they have very high security. Bad lenders are identified and then mentioned to the customers. Until now, over 2,000,000 customers have been satisfied with the way MoneyMutual has worked for them.

Is There Something MoneyMutual Can Do to Improve?

The MoneyMutual platform can compete with any other in its category. However, this doesn’t mean there aren’t some disadvantages. Even if MoneyMutual is optimized to offer excellent services to borrowers and lenders, its disadvantages must still be mentioned here.

First, MoneyMutual redirects the borrower to the lender’s website when the loan has been accepted. This means that MoneyMutual is no longer involved and can no longer do anything, as it’s only the middleman. In other words, the company only leads the borrower to the safest and most advantageous lender.

It should also be mentioned that when sharing contact information with MoneyMutual, the company reserves its right to share this information with others. This means receiving emails and calls from many lenders when trying to get a loan, which can be annoying. What’s good is that there’s the option to unsubscribe from receiving these calls and emails. The MoneyMutual website offers instructions on how to do it.

MoneyMutual FAQs

Q: Is it safe to get money from MoneyMutual?

A: MoneyMutual is a safe and legit platform that puts borrowers in contact with over 60 different lenders. It works with 256-bit encryption, so it can’t have the customers’ personal information hacked. Moreover, the company is in the Online Lenders Alliance, which means that it cannot permit lenders to scam customers.

Q: Can people with bad credit scores ask for a loan?

Many lenders don’t ask for the credit score when someone is trying to get a loan, meaning that the loan usually doesn’t get rejected. While some lenders might perform a credit pull on the surface, the borrower’s credit score won’t be affected.

MoneyMutual Online Loans Conclusion

According to a 2017 report that analyzed the economic situation in US households, 4 in 10 Americans don’t even have $400 for emergencies. It’s normal to go through tough times, and unexpected expenses are challenging to handle. Those who need to loan money fast can always use the services offered by online lending companies. Hopefully, this review has cleared some things up regarding the loans provided by MoneyMutual. The advice given here has to be considered, especially when trying to be smart about getting loans and paying them back in time.

Consumers can reach MoneyMutual by email or phone at:

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