MoneyTap is now Freo Credit User Reviews

MoneyTap is now Freo Credit
MoneyTap is now Freo Credit
MWYN TECH PRIVATE LIMITED

Top reviews

Abused call

hello money tap
My financial condition is bad now due to which I am not able to make the payment, for that I have apologized to you but you are abusing me, is this what you are talking about?
You are abusing your sister, you are threatening to send SMS, you are harassing me by calling during the day, saying that if you ask for money, is this a wrong thing or I am requesting you? This is what the customer care people have told me. I want to see all of them face to face with the amount of money, how to make MMS, how to log your customer care, what kind of abuses are given.
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Response from developer

Hi, we want to assure you that Moneytap does not engage in such practices. To help us investigate, please complete the following feedback form: (https://bit.ly/4bSvy2F).

Shivaprasad

This loan app is truly a lifesaver! The application process was incredibly smooth and quick. I was able to upload my documents easily, and the approval came through within hours. The interest rates are competitive, and the repayment terms are flexible, making it convenient for me to manage my finances. The customer support team is responsive and helpful, always ready to assist with any queries. I appreciate the transparency in fees and charges, which gave me confidence in the service. Overall, an excellent experience, and I highly recommend this app to anyone in need of a hassle-free loan.
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Response from developer

Hi, thank you for your review. If you have any feedback or suggestions, please write to us at hello@moneytap.com. We would love to hear from you! Do like and follow us on Meta: facebook.com/FreoMny and Instagram: instagram.com/freomoney/

Spam!!!!!!!!!

Money tap has the worst customer service and people in their staff. If you try to talk to them they are never there but they want you to pick up their calls otherwise they take the access to your contacts and call your family members or people from office and abuse them and tell them that you have given their names in the referral even when you haven’t. They abuse you, they call you names on the calls even when you are ready to pay they want you to pay immediately otherwise they will again start calling people from your contact list.

They bully you till the time you commit suicide or pay their money. They have no concern for your customers whatsoever.
They just care about the money and not what you are trying to say.
Banks like icici, hdfc gives time to their customers to pay at the time of crisis but money tap will call you a liar and abuse you or bully you until the time you commit suicide.

If people have sufficient money in their bank accounts they will never apply for a long. A person only applies for a loan when they are in a need for it. Money tap hit account multiple times which puts a person in situation where they have to pay their bank for a missed amounts and now also have to pay money tap for the late charges.

I WOULD SUGGEST PLEASE DONT APPLY FOR LOAN IN MONEY TAP NO MATTER WHAT YOUR SITUATION IS. If it can be delayed you should.
Because they will make your life miserable.
I request- there is someone I know whose life they have made miserable because they were in a urgent need of money and they applied for a smal loan in money tab but now they have to pay so much money and also money tap people are calling their family members and friends and abusing them and accusing them while they are trying to arrange for the money and pay them.

IT IS THE WORST OF ALL…
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Response from developer

Hi Carvy28. We regret any inconvenience you may have experienced as we were unable to find your information in our system. To assist you more effectively, we kindly ask you to complete the following feedback form (https://bit.ly/3JTmoneytap). We'll be more than happy to help you out.

Pathetic experience

Initially they will grab your all information and documents on the name of approval from RBL than they will share all the confidential details with all digital co lenders without our consent after that we will never get credit line which was showing approved on there app because the co lenders will start calling you to offer personal loan on 30-40% rate on interest. This is how they work it’s completely breach of our confidential data further I would like to write that I have written this complaint to their senior management and got a call where in they agreed that all the co lenders belong to them but they didn’t justify why my details been shared with them without my consent and still they are investigating the same.I have shared all the proof but still there is no response.
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Response from developer

Hi Sunny. Moneytap is proudly made in India, by Indians, for Indians. Your information is our top priority, and our app ensures 100% digital safety and security. We strongly oppose baseless claims. Let's focus on constructive dialogue moving forward.

Don’t fall into the trap

Hi Guys,

I don’t know how you guys are experiencing the service but I want to share my experience. I have taken a loan in 2018 and I have pre closed it after paying couple of EMI’s. These people haven’t closed my loan and they kept open one EMI on my account and that was showing a overdue from the last couple of years. When I applied for a loan in a bank in January then I get to know this and I have written a lot of emails asking why it is showing finally after sending multiple emails Someone Called Shiva he responded and saying “they have reserved this for you under your account even after foreclosing your loans so that you can withdraw the amount in future if needed. Hence, the amount is still showing up in your CIBIL”. If they know this will show in my CIBIL and it will effect my CIBIL, how come they’ll reserve without informing me or without my confirmation.

After all this I have told them I’m no longer needed any loan and asked them to close the loan. They said they have closed my loan and the same will update in 90days but it’s been more than 5months it’s not updated yet and it’s still showing in my CIBIL.

Due to this my education loan got rejected and I’m continuously sending the emails, asking the NOC from them but they haven’t responded till now.

So, please be aware of this SCAM.
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Response from developer

Hi Akhil. We apologize for any inconvenience you may have experienced. However, we are having difficulty identifying your concern as we cannot locate your information in our system. To assist you better, could you please provide us with your registered email address by clicking on the following link: (https://bit.ly/Qfwof8moneytap).

CREDIT SCORE WORSENED BECAUSE OF THEIR CARELESSNESS

I’m having a nightmare with these people, I’ve made all the payments on time and never missed a single payment. There has been a late payment charge on my cibil score since 6 months which drastically brought down my cibil score. When I tried to reach out to them with all my details and my cibil report, they initially requested for more details and then completely ghosted me. Stopped responding even after multiple follow ups. This has really taken a toll on my mental health. Extremely poor redressal service. I don’t understand how a company runs like this. I’ve been following up for 1 month now and sent 10 follow up emails. Nobody responds or fixes the issue. I needed an education loan urgently and this has so negatively affected my cibil report that idk what to do now.
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Response from developer

Hi Meghana. We apologize for the inconvenience. We are unable to locate your information in our system. Please provide us with your registered email address using this link: (https://bit.ly/Qfwof8moneytap). We would be happy to assist you.

Fraud company

MoneyTap application will show the EMI amount excluding of interest charges,Processing fees and GST while taking loan from this app .You will be shocked to see the huge difference in EMI amount when your first bill get generated. So please be careful while taking loan from this app and you need to have RBL bank credit card to take loan from this app and you should be ended up in paying annual card charges and lot of hidden charges pp will show the EMI amount excluding of interest charges,Processing fees and GST while taking loan from this app .You will be shocked to see the huge difference in EMI amount when your bill got generated. So please be careful while taking loan from this app and you need to have RBL bank credit card to take loan from this app and you should be ended up in paying annual card charges and lot of hidden charges. so requesting everyone to check all the charges before you take loan from this app. We are taking loan from this application, but RBL bank will send the monthly statement and if we call the customer care to check why the hidden charges was not shown while taking the loan and they are asking me to check this from Money tap and till now my query was not resolved.. Please be aware of this kind of fraud.
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Response from developer

Hi, we apologize for the inconvenience. We are unable to locate your information in our system. Please provide us with your registered email address using this link: (https://bit.ly/Qfwof8moneytap). We would be happy to assist you.

No proper response from customer support

I have made the payment on November 2nd and I’m trying to withdraw again it always says that “currently money transfer is unavailable we will let you know when it’s available” and I have emailed to customer support and from Prema I got a reply saying send me screenshots and I replied with relevant screenshots till now till now no proper response and also please sending me Facebook messenger chat link now because even I tryed that as wel the reply I got we are checking on it. I don’t know it’s been 7days you are checking on it.
As I said in my last email until I get proper response from your customer support I will not make any further payment from next month I’m ready to face the consequences I have all proof now. First give respect to the people who ask for query if we don’t have any problem with your app why should we reach you, and very clever no customer care phone number only email id.
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Response from developer

Hi, @chrismoneytap. Thank you for your kind words. Spread the word and please feel free to refer MoneyTap to your friends and family.

Fake and useless money tap

Hi guys whoever is reading this review I kindly ask you to not install this app if you do so you will definitely gets regret . I’m one of the customer who suffered due to this app and this app customer service is worest than anyone of the apps available in the market . It’s been 3 months I have write to them but no one responded and I have followed up with 50 mails and no mail got the reply and simply they flood you mail inbox with spams and your CIBIL GETS affected due to which you will not get loan on any one the apps or banks . So beware of this fraud app which was created just to collect the data form customer.

FOR ME ITS SHOWING CREDIT APPROVED BUT NEED CREDIT CARD TO ACTIVIATE AND THEY HAVE NOT SENT ANY CREDIT CARD YET AND I THOUGHT THIS IS JUST A FAKE APP BUT LATER WHEN I TRIED TO APPLY MY LOAN IN BANK IT GOT REJECTED THE REASON HERE THIS FAKE APPS CREDIT LINE IS SHOWING AS ACTIVE LOAN IN CIBIL REPORT . Please install this app at your own risk and I would suggest please go through all the reviews before installing it
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Response from developer

Hi Mogudu. We sincerely apologize for the inconvenience. We are unable to find your details here. Kindly share your registered email address on this link: (https://bit.ly/Qfwof8moneytap). We'd be glad to help you.

Customer Care is extremely Bad

I have been using Money tap for quite sometime now . There was no problem at all . But this month my whole experience of a good platform has gone for a toss.
My ECS go deducted on Time and after few days a got a call saying I have not paid. Instantly I shared the proof of my ECS and then after lot of follow up I was told the matter has been settled and ECS has reflected.
But when I crossed checked on the App it was still showing pending and my credit line blocked . I mailed to their customer care team with all details but no one bothered to revert back even after 7 days have passed from my first mail after that I have sent reminders also but they also met the same fate as my first mail .
My question is why do you harass people like this and they don’t have any customer care number only one mail id .
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Response from developer

Hi Kausik. We're disappointed to hear the experience with us was not up to your satisfaction, Please be assured that we've highlighted your concern and are looking into it with the utmost priority.

Honest review after using it for 2+ years

It was all going good till 2 months back when I completed my loan emi's and the app still shows that I'm still due and the amount pending is Zero(0). They haven't even updated anything onto my cibil because my Cibil still shows that im due to pay my last emi. Now that may be technical error which i understand and they should have solved it long ago when they first heard from me. They asked me for screenshots of my cibil and my payment details which i sent and never ever i got a reply from them after it. Its been 9 emails now which im scheduling to send every week till i get an answer. Their customer support is really bad and infact the only way to contact them is emails which in my case they haven't responded.

Otherwise it was and is a nice application and company which was serving better but not any more i feel.
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Response from developer

Hi, Panish. We'd like to understand the issue and help you with it. Please help us with your registered email id.

Pointless

The app finally started working on iOS after months. When I was finally able to avail my credit line and setup EMI’s they have now started giving me problems with re-payment. All the text messages I recieved and the app itself told me all this while that I have an auto debit setup and my EMI will be taken automatically through my account. Still I was skeptical of this app from the very beginning so I thought that I would try to pay the EMI myself way before the due date since how trust worthy can this even be given prior reviews I read about it. I hoped that since I had the Pay Now option myself I wouldn’t have to depend on these guys for any mistakes and end up impacting my CIBIL. But no, my due date was the 5th of Nov, I had been trying to pay for about 2 weeks before that myself, everytime it said “Transaction Failed” by just clicking on the button. Even that click doesnt take you anywhere to atleast enter maybe card or account details for a manual payment. I emailed the moneytap support email and was advised they will get back in 48 hours. Well here we are. To this day I havn’t heard from them. Moreover, now when I open the app and see my EMI details this pathetic company has charged me a late fees where its all their fault. Their app and the entire system is useless and I feel like I am just stuck with them.

Update: After writing a bad review someone finally got in touch with me and sent me a razorpay link to make the payment. Upon wanting to discuss the late fee they incorrectly charged a person called Pooja from the customer support team spoke to me in 9th November and asked me for proof from the bank which I sent the same day. I have sent reminders to them but this woman never got back to me. I even tried messaing the person who contacted me with the payment link but even they did not respond after reading my message. Everyone, I am warning you. Do not ever take any credit from this app/company because it will be hell after that. I can’t believe I am not just stuck with them. Pathetic!
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Response from developer

Hi, we would love to take a look at the issue. Please reach out to our customer support team at hello@moneytap.com with the screenshot of an app.

Please read the ridiculousness of your business model!

This just got ridiculous. I applied for MoneyTap thru an ad. And I got approved a limit of 48k. And over a period of a month they came and collected documents and signature and so on. And I am already an RBL credit card customer. And MoneyTap is supposed to be a credit line. Which is separate. But then they said they are going to give a credit card for the credit line which I had no idea why. After approval my credit line got reduced to 35k, since my other RBL credit card limit it 35k! And I got a credit card from MoneyTap saying I can spend 3500 on it because my original RBL credit card has only 3500 limit!! But I didn’t bother since I didn’t need a second credit card. Today the app opened up for me to use credit line and there thr credit line says I have only 3500 available to use and not the 35k credit line. Why? Because my original RBL card has only 3.5k available! Which effectively means, MoneyTap sent me employees to verify and all that nonsense to actually give me an add on card which I would have gotten by sending RBL just an sms request!!!! I literally have been given an add on card and a credit line that is as useless as the add on card! And this company used three employees to give me what RBL would have given it to me thru a simple sms!! Is this what MoneyTap business model is based on? Hi, we are MoneyTap and we are experts in giving you add on cards and non-usable credit lines! Apply with us and have pretty looking add on cards?!?! Absolute waste of time! I don’t need your 3.5k because I can actually withdraw that from my credit card! I hope MoneyTap bosses look at this review and just understand how stupid this whole situation is!!
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Response from developer

Hi, we would like to inform you that, your Credit Line has been approved by RBL, one of our banking partners. The Credit Card is complimentary and comes with a lot of benefits. However, as you already have an RBL credit card before and because Bank can only have one single account per customer and the limit for both the cards are merged. Write to us at hello@moneytap.com if you wish to cancel.

I have been using Mtap for years. Here are pros and cons

I have been using MoneyTap since very long now, my experience however has been good here and I faced no problems with transactions or rejection or even cibil score, nevertheless there are challenges which Rbl and MoneyTap should consider. There are few pointers for the rest to know what they are getting into.

Pro
-App looks good with simple User Interface
-Easy way to request money to your bank (not just credit) instant cash.
-monthly statements on your email
-check your statement on app in billing section
-provides loans as well
-check your ongoing emi easily
-repayment is not a task

Cons
- App is great but now and then it wants to re-register with fb or google account
-App takes time to get the data, takes about 5 days or more to reflect payments (TAT can be reduced)
-interest rates are whooping high
-definitely need a relationship manager
-Rbl bank branch won’t help you out they will ask you to work it out on App (No accountability by RBL Noida branch rejected address update)
-No option for Address Update (you won’t know where your customer are, this will cause lot of problem when the card needs to re issue)

Needs work but definitely not fraudulent for me.
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Response from developer

Hi Shaurya1989. Hi, Thanks for your support all along. We will keep working to provide a good user experience. You can follow us on Facebook and Twitter to get the latest information.

Don’t use this app- you will loose your cibil

Guys very frankly speaking download this app only if you want to loose your cibil. I used this app and taken loan of 100k but after few months I started to loose my cibil and I came to know that when I applied for home loan and they told that you have many payment failed with MoneyTap we can’t offer you home loan even I was continuously paying my EMI’s to MoneyTap on time every months.
When I came to know this immediately I tried to contact customer care for foreclosure of it but never got response by email from them and when I called on office landline they also couldn’t provide me the solutions as well, luckily I got contact details of top managements and explained my problem to them after that finally I got foreclose letter by email and paid everything what they asked and did close this loan.
Trust me guys having less credit is better than this app. I also see others comments with kind of same problem, again use this app only if you want to loose your cibil.
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Response from developer

Hi Snlj8285. We apologize for any inconvenience caused. Unfortunately, we couldn't locate your information in our system. To better assist you, please fill out the feedback form here: (https://bit.ly/4bSvy2F). We'll be glad to help you further.

No transparency

One needs transparency in order to believe an organisation, which completes lack here, I don’t even have a clue how much money you people milked from me, you toll free number is never ending, and doesn’t get connected at all, only useless, no other word. If I email you people about any query, by the time I receive a reply my due date would already pass, today I got a payment link for **** amount, I have no clue what that amount is for, it just sends a link and simply asks me to pay, I don’t even know for what I’m paying, doesn’t show on the app. Best part is, the email had a toll free number and asked to call for any queries, guess what, even that number doesn’t work 🤣🤣, which kinda person hides behind the curtains?, Who can’t face the fact, that is you people, I’m bloody done with this app, I will go through all my transactions and will go legally if you people continue to do the same, have a face, step out, be a man and face people, stop milking.
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Response from developer

Hi, we regret to note this. We'd like to understand the issue and help you with kindly help us with your registered email ID. Please note, we currently provide support only through emails. We assure you that we will do our best to help you out with any questions or concerns. Write to us at hello@moneytap.com your queries will be answered within 24-48 hours.

The Worst Money Lending App Availabe

Please be very careful before taking any amount from Moneytap, this is my personal experience that i am sharing. Ten reasons why you should NOT borrow from here are listed below:

1. Application is dysfunctional most of the times which means you wont be able to see how much you ought to repay

2. Customer care no. You wont find it anywhere check out yourself on their official website and if you get any contact no. It wont be in service.

3. Re payments are not updated within specified turn around time and you shall keep receiving calls from collection agents to make payment the worst is collection agents will come to your provided address and claim for amount already paid yet not recorded

4. No timely response to emails regarding customer queries

5. No informarion via any source regarding borrowed amount and repayments made by you

6. No information on bank or financial instute from where the money is being borrowed

7. If in case you miss a payment deadline due to any reason or the same is not updated in Moneytap systems you will be flooded with calls and messages asking you to make the payment immediately to avoid any legal consequences (height of collection)

8. No POC or dedicated person to guide you regarding your queries after you borrow from Moneytap

9. No confirmation of receipt of EMIs or repayments made by you

10. Worst customer experience rated on google and alot of customer complaints you will find related to Moneytap services check it out right now for proof.

P.S. think before you borrow or regret later.
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Response from developer

Hi Mohit, thank you for bringing to our attention all the difficulties you are facing with our app. Our sincere apologies for your less than pleasant journey with us. Our goal is to give the best experience to our customers. We are aware of certain issues and valuable feedback such as yours helps us improve our service further. Please write to us at hello@moneytap.com, we’d like to get in touch with you and make things better. We look forward to hearing from you.

Very poor response

Hi Swetha...
people first I need to tell you one thing guys don’t download this app ever it’s just fake and making this app download once you got rejected or put on hold it means your cibil score will be down and none of the bank will provide the loans and offers so. Pls pls small request

This is Pramod here I Registered the MoneyTap because of a add which is on Instagram when I download and start registration all were smooth after the salary colum thing we filled up it’s showing that Application is put on hold what is this does mean !! people are fool ?? Downloading this app and making unseen creations and all what is the problem if an app it’s in the market what is that app ? Whether the app will helpfull or not ? Does any problem to public people ?all this matters not simply getting downloaded and making fun out of people so pls give my details and everything pls stop this nonsense
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Response from developer

Hi Pramod, we need your registered details to assist you further on your query. Please contact us at hello@moneytap.com with your registered details, so that we can check the status of your application and get back to you with an update. Thank you!

Not worth a single star, sadly no option

If you are genuinely looking for a loan, take it directly from bank rather than opting this useless app. Waste of time, not even worth for a single star. It’s been more then 15days and the never ending processing is still in process, no updates, no proper customer support. It’s gives fake ads that the loan amount will be deposited in account within 24hours.. really.. try writing a mail to the useless email ID provided, the same response for every mail. There so called managers are working on it and will try to reach us soon. The so called managers here are the busiest persons I have ever noticed. I suggest not to use this worthless app, the worst experience you will ever come across.

All the details provided for the loan approval needs to be deleted from your data ASAP. I need a written confirmation that my data has been erased. If not, A case will be filed for sure.
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Response from developer

Hi, Sorry to hear this. We provide pre-approval within minutes on the app. After which you have to provide your KYC documents in order to get a final approval. This process takes about 2-3 working days if all the details provided by you are accurate. Let us check what went wrong in this case. Kindly share your registered email id so that we can check on our end and get back to you with an update. Thanks

Scam. Don’t use this app

They just take all your banking information and contact details. You will never get your loan approved. I don’t know what they must be doing with your details, sell to third part perhaps? One thing is clear, don’t waste your time to download this app. When I contacted customer care, they said my loan won’t be approved and when I asked them about my data they said it will not be misused and will be safe with them. This is a crime. Please report this app. It makes you sign anti data protection forms before saying your loans won’t be approved. I wonder how they are still able to run even though they have so many reports against them. I checked online whether it happened to anyone else, and I found that every single user has been scammed. Why is Playstore and AppStore still allowing this app to be downloaded?
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Response from developer

Hi Robert, let us assure you that we’re 100% legitimate. We have partnered with registered banks & financial institutions and thousands of users are happy using our product. We need minimal documentation to determine your eligibility and the approval depends upon a number of factors and bank policies. We take security concerns very seriously & ensure all information given to us is handled with 100% secure data encryption practices. Please write to us at hello@moneytap.com for more details. Thanks - Shwetha