Home MoneyMutual Loan Review 2020 – Read This Before Applying!
Kane Pepi

MoneyMutual logo: letter 'n' inside a larger 'n'

If you suddenly need to raise cash to fund an emergency service – such as repairing your car or replacing a boiler, then you might need to consider a Payday loan. However, with hundreds of online lenders to choose from, how do you know which one to go with?

This is where the likes of MoneyMutual come in. The online platform is a comparison-style website that aims to match you with suitable Payday loan lenders. If you’re thinking about using the platform for your lending needs, then be sure to read our comprehensive MoneyMutual review. Within it, we’ve covered everything you need to know, such as the type of lenders you’ll be matched with, who is eligible, fees, and more.

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What is MoneyMutual?

Like Lendio and CashUSA, MoneyMutual is a third party platform that aims to match borrowers with suitable loan providers. More specifically, the platform focuses exclusively on Payday loans. It is important to note that while the MoneyMutual platform also makes reference to ‘Cash Advances’ and ‘Bad Credit Loans‘, these all fall under the same umbrella as a conventional payday loan. In other words, the funding application process is all one of the same thing at MoneyMutual – you specify how much you want to borrow and the platform will find you lenders like Rise Credit.

While websites like MoneyMutual will strive to match you with a Payday loan provider, they are not a lender. As such, any issues that you have with your loan will need to be dealt with directly with the lender.

Smiling lady holding a phone with sidenote of MoneyMutual CTA that gets you $2500

In terms of the fundamentals, the MoneyMutual platform will allow you to apply for loans from just $100, all the way up to a maximum of $2,500. Once again, although the terms Payday Loans and Credit Advance are interchangeably used, some of the lenders that MoneyMutual matches you with will allow you to set up installments on your loan, as opposed to paying it back in-full when you next receive your paycheck.

As is standard in the online comparison arena, MoneyMutual does not charge you to use its website. Instead, it will make a profit when lenders pay to join its network, or via a small commission when you go on to take a loan out.

What are the Pros and Cons of MoneyMutual?

MoneyMutual Pros:

✅Huge number of lenders within its network

✅Find the best loan rate in a single search

✅Credit scores of all sizes considered

✅Very easy application process

✅Available throughout the US (apart from New York)

✅No fees


❌ Not a direct lender

❌ Better lenders might not be partnered with MoneyMutual

❌ Maximum loan amount $2,500

Comparing MoneyMutual platform to different online payday loan service providers

MoneyMutual adopts a unique approach towards building a bridge between borrowers and lenders. It is a comparison site, that you can use to compare the loan terms of different payday lenders. It also describes its platform as safe for bad and poor credit borrowers. We held the marketplace against several reputable payday and online installment loan providers like Speedy Cash, CashNet USA, and Ace Cash Express and this is how they tally:

Money Mutual

  • Access loans  of between $100 and $2,500
  • No minimum credit score (individual lender may soft check)
  • Loan APRs vary from lender to lender
  • Loan repayment varies from lender to lender

Speedy Cash

  • Online payday loan limit is $100 – $1,500
  • No minimum credit score
  • Payday loans should be paid within 7 to 14 days depending on your pay schedule
  • Annual rates of 459.90% but varies depending on state of residence

CashNet USA

  • Borrow limit extends from $100 to $3,000 depending on the type of loan and the borrower’s state of residence
  • Requires a credit score of at least 300
  • Annual interest rates starts from 89% to 1,140% on payday loans
  • 2 weeks to 6 months payback period

Ace Cash Express

  • Borrowing from $100 – $2,000 (varies by state).
  • No credit score check
  • Fee rate on $100 starts from $25 (State dependent)
  •  Loan repayment period of 1 to 3 months

How Does MoneyMutual Work?

Finding a suitable Payday loan lender via the MoneyMutual website is a very simple process. As is the case most loan comparison platforms, you will initially need to select how much you want to borrow,  and how long for. In this sense, you can opt for a Payday loan – meaning you will pay the entire amount back on your next paycheck, or an installment loan – meaning that you get to pay it back over multiple months.

MoneyMutual only performs a soft credit check when you apply for a loan through its website. As such, you’ve got nothing to lose by finding out your eligibility and APR rates.

Once you’ve decided your loan terms, you then need to enter some personal information. Expect to be asked for your full name, home address, date of birth and telephone number. In order to verify your identity, you will also be asked for your social security number.

Smiling woman and sidenote asking individuals to register with MoneyMutual and get up to $2500

Next, MoneyMutual will ask you to provide some information about your income. This includes your monthly income, whether you are in full-time employment, the address of where you work, whether you own a home or rent, and if you are currently serving, or living with someone, in the military. To complete your application, you need to enter the bank account details that you would like the funds paid into.

You will then be presented with a list of lenders that are able to offer you a loan. Each lender will state its terms, such as the APR and whether or not any origination fees are charged. At this point, you are under no obligation to proceed with any of the loans that are offered to you. However, if you do, you will be taken straight to the lender’s website to finalize the application.

How Much Does MoneyMutual Cost?

As is standard in the loan comparison space, you won’t need to pay MoneyMutual any fees to use the search tool. The platform makes its money when lenders join its network, or when you go on to take out a loan. Nevertheless, when it comes to APR fees, this is entirely down to the lenders you are matched with.

It is crucial that you check the terms of the loan when you receive your loan agreement. Never sign the agreement without having a firm understanding of the fees.

Screengrab of MoneyMutual site explaining why the brand is trusted by 2 million customers

In fact, the APR fees that you are offered will be dependent on the information that you provide within your application. As we noted earlier, MoneyMutual is catered for credit profiles of ALL types. This means that the better your credit profile is, the better APR rate you will be offered.

Here are some of the things that lenders will look at when deciding how much APR to charge you on your loan.

✔️ FICO score

✔️ Monthly income

✔️ Your history with debt

✔️ Employment and home ownership status

✔️ How much you want to borrow and for how long

Other Fees to Consider

Although you won’t need to pay any upfront fees with MoneyMutual to search for loans, some of the lenders within its platform will charge an origination fee. Ranging from 0% to 5%, this is a fee charged to cover the cost of arranging the loan, and it is deducted from the amount you receive. However, MoneyMutual usually make this clear when your search results load, albeit, do check this in the loan agreement yourself before signing it.

Am I Eligible for a MoneyMutual Loan?

One of the overarching benefits of using a platform like MoneyMutual is that they have partnered with lenders of all shapes and sizes. Whether you are in a position of excellent financial standing, or you have less than ideal credit, it is all-but certain that MoneyMutual will have a lender for you. However, you will still need to meet some minimum requirements in order to qualify.

✔️ Live in a US state outside of New York

✔️ Be a permanent resident or citizen of the US

✔️ Aged 18 years and above

✔️ Have a valid social security number

✔️ Have a regular source of income

✔️ Earn at least $800 per month, after taxes

✔️ Have a valid checking account

As you will see from the above criteria, the minimum requirements to qualify for a loan at MoneyMutual are very low. In fact, even though the platform asks that you earn at least $800 per month, this doesn’t have to be in the form of full-time employment. On the contrary, this can include benefits such as a disability allowance or pension.

When Will I Receive my Funds?

MoneyMutual have no control over when you will receive your funds, as they are not a direct lender. However – and as is often the case with short term loans, you’ll likely the receive the funds the next working day. This is on the proviso that the lender is able to verify your identity by using third party sources.

If they can’t, then you’ll likely need to provide supporting documentation (such as a pay stub to prove your stated monthly income). In doing so, this will delay the funding process.

Paying Your Loan back

Each and every lender that is part of the MoneyMutual network will have its own repayment terms. However , in the vast majority of cases you will be asked to set up an automatic debit via your checking account. This means that the lender will take your loan repayments from your account on an agreed date each and every month.

Graduate tied to wrecking ball of loan - MoneyMutual

Alternatively, if you are opting for a standard Payday loan, then the entire amount will be taken from your account when you next get paid. If you don’t want to set up an automatic checking account payment, then it is worth asking the lender if you can pay with any other methods. Some will allow you to use a check, money order, or debit card.

What if I Miss a Payment?

First and foremost, when you obtain a loan via the MoneyMutual website, you are not taking out a loan with MoneyMutual. On the contrary, the loan agreement is taken out with the lender you are matched with. As such, MoneyMutual will not have any input in the event that you miss a payment, as they are not a lender.

You should always check the terms surrounding late payments with the lender before signing the loan agreement.

If you do miss a payment with your respective lender, then you are best advised to contact them well before your repayment date. Most lenders will try to work with borrowers in the event of a late payment, so do bare this in mind.

Ultimately, a missed payment can lead to additional fees and charges. Moreover, as the lender is likely to report the missed payment to the leading credit agencies, it will also impact your credit score.

Customer Service at MoneyMutual

As MoneyMutual is not a lender, you should not contact them regarding any loans you have previously taken out. You will instead need to take this up with the lender directly. Nevertheless, if you do need to contact somebody from MoneyMutual, you’ll find their contact details below.

📱 Phone: 844-276-2063

📧 Email: [email protected]

✍️ In Writing: MoneyMutual, 8174 S. Las Vegas Blvd, Suite #109-432, Las Vegas NV, 89123

MoneyMutual does not list what hours its customer service team works, although this is likely to be during standard business hours (Pacific Time Zone).

MoneyMutual Review: The Verdict

The days of browsing through dozens of online loan providers to find the best deal possible are now firmly over. With sites like MoneyMutual, you have access to hundreds of loan providers at the click of a button. Even better, the initial search does not have any impact on your credit score, so you can effectively find the best deal in a risk-free environment.

We also like the fact that MoneyMutual is suitable for borrowers of all credit profiles. Whether you’re in possession of  bad credit, or you have an excellent financial standing, MoneyMutual will be able to find you some of the best rates in the industry.

Just make sure that you double check the terms of the loan before you sign up. While MoneyMutual will strive to provide you accurate information, you still need to check this for yourself before signing the agreement.

Apply for a Payday Loan Now! | Best Payday Lender 2020

Our Rating

Viva payday loan app company logo
  • Loans From $100 to $15,000
  • Instant Application & Approval
  • Bad Credit Considered
  • Lenders From All 50 US States Onboard
Viva payday loan app company logo


Glossary Of loaning Terms



💸 What credit score do I need to have to use MoneyMutual?

💸 How long does it take to apply for a loan with MoneyMutual?

💸 Does MoneyMutual charge any fees?

💸 How much do MoneyMutual loans cost?

💸 Can I contact MoneyMutual about my loan agreement?

What types of loans does MoneyMutual offer?

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Kane Pepi

Kane Pepi

Kane holds academic qualifications in the finance and financial investigation fields. With a passion for all-things finance, he currently writes for a number of online publications.