Random Posts

Moca Moca App Problems and Complaints

Moca Moca App Problems?

Have you heard about Moca Moca App? You might get across this online lending app at some point while browsing Facebook since they had been so aggressive at advertising on the platform.  This is an app that claims to provide you with quick loans online whenever you need them but are they legit and legal? What do people say about them?

My Encounter with Moca Moca App

I got a chance to see this app when I did click on their ad and became curious about them.  I checked on how much I can loan.  It says you can repay from 3 months to 12 months at easy installment terms.  While checking the amount that I can loan and then clicking the next step, the app then told me that they are now sending Php1,300 to my account and I have to repay Php2,100 in 7 days. 

What? I had to repay Php2,100 while I only received Php1,300? That's a whopping 800 pesos in advance charges and interest which constitutes 40% of the loan plus they even added Php100 to your original loan of Php2,000.

I was so frustrated that I immediately reviewed their app on Google Play giving them 1 star and posted on my official Facebook page about the ongoing scam of this app.  That's when more people are revealed to have been fooled by Moca Moca as more and more people commented on my post telling about the horror stories they have with this online lending app.

Alas, my loan is due and a representative called me.  I specifically told the person calling that I am recording her call, I did not take out a loan since they fooled me during the process and I will not be paying them back. The conversation lasted about 3 minutes and since then about 2 weeks had passed until now, they had not called me again.  Once they call, I will record the conversation again.

What Needs to be Done?

Someone should definitely file a complaint whether with the Securities and Exchange Commission (SEC), the Bangko Sentral ng Pilipinas (BSP), the National Bureau of Investigation (NBI), or with all of them.

What they are doing by harassing people and duping them to get a loan with very high interest is definitely illegal.  Another thing that is definitely against the law is the fact that this app will hijack your contact details and contact them if you will not pay the loan.  That same hijacked contacts might also be sold to other apps and then they will be contacted offering different things.

I also noticed that various other loan apps are also contacting me and calling me and saying the loan is ready for me but the thing is I did not even apply for a loan with them.

Here is what I am seeing:

  1. This company is violating the Lending Law with its very high-interest rate and its method of deceiving people through its app.
  2. I found out that it is sharing the personal information they get with other similar loan apps which is a violation of the PH Data Privacy Act.
  3. Accessing all of your contacts and details without your direct consent is illegal as well.
  4. Are they even registered with the SEC and the BSP?

Sign the Online Petition to Shutdown Abusive Online Lending Apps (OLA)

An ongoing petition at Bataris.org is calling on the government to shut down tons of Online Lending Apps (OLA) for being abusive and charging over-the-top interest rates.  The list includes the following:

Sign the Online Petition to Shutdown Abusive Online Lending Apps (OLA)

We call for an end to the operation of these abusive online lending apps, which threaten, embarrass, intimidate, and cause utter grief to the unfortunate victims.

    1. PesoQ
    2. PesoCash
    3. JuanHand
    4. Halika Cash
    5. Well Cash
    6. Php Pocket
    7. Rapid Peso
    8. VPeso
    9. YoPeso
    10. Zippeso
    11. Zippeso VIP
    12. PesoIn
    13. CocoPeso
    14. Binhi
    15. PesoHere
    16. TakeCash
    17. Cashme
    18. Zora Cash
    19. Taga Cash
    20. AntWallet
    21. KusogPera
    22. PediCash
    23. OLP
    24. Madaloan
    25. Pautang online
    26. Fast Cash
    27. Cashin
    28. SpendCash
    29.  Honeyloan
    30. Opeso
    31. LPeso
    32. PesoPlus
    33. ZadaCash
    34. Cashbee
    35. CashG
    36. Bigloan
    37. Cocopeso
    38. Moneycat
    39. Kuyaloan
    40. Upeso
    41. Happy Pera
    42. Surity
    43. Eborrow
    44. Halika Cash
    45. Topeso
    46. PANALO Loan
    47. Firstcash
    48. Pesopocket
    49. Peranyo
    50. MocaMoca
    51. Pondo Cash
    52. Wow Pera
    53. Wow Pera VIP
    54. finupp
    55. Okpeso
    56. Ourcash
    57. Insta Cash
    58. Loanmoto
    59. Eperash
    60. Rushloan
    61. ASAP
    62. Cash Go
    63. Snapera
    64. Online Loan Pilipinas
    65. Digido
    66. Cashwill

What's your Experience with Moca Moca App?

Here are some of the people who shared their experiences about Moca Moca App and since my post is public I am posting the screenshots here as well.  

Have you had the same experience with Moca Moca App or other similar online lending apps? It would be good to share this post and comment about your experience as well.

David 'Master Pogi' D'Angelo
Social Media Specialist | Blogger | 
Environmental Advocate | Events Organizer

Post a Comment