I have a Money Place loan I settled using the payment details they provided me. This was settled as part of a mortgage topup and the settlement was done by the mortgagee solicitors. Two weeks later I get another debit from my account. I have spent 2 hours in phone calls trying to confirm if Money Place have the funds in a trust or holding account as its not applied to my loan. I have called them 4 times and spent over 2 hours on hold and in calls only to be advised on my most recent call that I have to prove to them the loan was paid. All they needed to do was take 5mins to check their trust account and confirm the funds are there or not but instead its up to me to run around and prove something that could have been resolved on the first call. I wouldn't recommend using them if you are looking for a great product and excellent customer service.
Disgusted at the way I was treated by MoneyPlace during the pandemic when I missed a couple of payments after years of never missing a payment! Was going through a legitimately difficult time and provided evidence of my low income but they refused to be lenient at the time and instead bombarded me with text messages and emails from ecoll. Despicable really. Will never recommend to anyone. They are nice at first then become ruthless, plus the very high interest is robbery of the poor.
MoneyPlace wanted me to deposit money in their account to approve a personal loan.
Reply from MoneyPlace
Hi Cheryle,
It sounds like you may have had a bad experience with another lender or been the recipient with a fraudulent email. MoneyPlace has never asked our applicants to deposit money to approve a personal loan.
We would love the opportunity to follow this up with you. If you could please reach out to us on 1300 008 003 or via email at borrow@moneyplace.com.au it would be greatly appreciated.
Have been very flexible with all my loan needs. Have been very happy with the service that I have received.
Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
Repayment terms from 2 years to 4 years. Representative example: a 3 year $10,000 loan at 14.95% would cost $14,324.71 including fees.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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