Minto Money: Costly & Bad Reputation – Consider These Instead

Is Minto Money legit?

Minto Money lends money, but its legitimacy is in question. It’s a tribal lender, which allows it to charge extremely high APRs in the 700% range. It’s not accredited by the Better Business Bureau and has an F rating (though it has a better reputation on Trustpilot).

The company was also the subject of a 2022 Illinois lawsuit alleging it used a “rent-a-tribe” scheme to evade state usury laws while non-tribal entities controlled operations. It’s also been named in at least 17 other federal lawsuits, many involving similar claims of predatory lending and improper use of tribal immunity.

And though Minto Money protects customer data on its site with 256-bit SSL encryption, it also shares customer information with affiliates and non-affiliates, so be prepared to receive unsolicited marketing materials if you apply.

How Minto Money compares to other lenders

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Finder Score	Loan amount	Turnaround time	Requirements	bullet point infobox
Promoted Finder score 9.5 Excellent EarnIn	Finder score 9.5 Excellent	Up to $150/day, with a max of $1000 between paydays	1 to 2 business days or within 30 minutes for a fee	At least 18 and a US resident, Valid Social Security number, At least 60 days of banking history, Proof of consistent income, Positive bank balance, Get paid by direct deposit.	Access up to $150 per day, with a max of $1000 between paydays. Subject to EarnIn terms & conditions.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 8.7 Great Current	Finder score 8.7 Great	$50 to $750	Up to 3 days or within an hour for a fee	Among other factors, you must receive a monthly total of $500 or more in Eligible Payroll Deposits into your Current Account.	Get up to $750 before payday, once you qualify. Paycheck Advance is an earned wage access service and is not a loan or credit product. Subject to Paycheck Advance Terms and Conditions.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 9.4 Excellent OppLoans Installment Loans	Finder score 9.4 Excellent	$500 to $5,000	As soon as the same business day	+18 years old, Receive paychecks through direct deposit, $1,500 minimum monthly income, Live in eligible state	Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.	Go to siteMore info Compare product selection Compare	loading
Finder score 9.1 Excellent CreditNinja Installment loan	Finder score 9.1 Excellent	$300 to $5,000	1 to 2 business days	Checking account at least 60 days old, regular income through direct deposit, resident of eligible state, age of majority in your state	Not available in: AK, CO, CT, FL, GA, IL, IA, KY, ME, MD, MA, MT, NV, NH, NJ, NM, NY, NC, ND, OR, VT, VA, WA, WV. Fast online funding up to $5K, but you won't know about rates and terms until after you apply.	Go to siteMore info Compare product selection Compare	loading
Finder score 8.2 Great Cleo	Finder score 8.2 Great	Up to $250	3 to 4 days or instant for a fee.	Not stated	Automatically monitor your spending plus access cash advances up to $100 at a time.	Go to siteMore info Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.

Read the full breakdown

Where Minto Money falls short

The biggest drawback is the high APRs charged by Minto Money. Often called “predatory” by past customers, these rates reportedly reach up to 750% or higher. Short-term installment loans, especially those aimed at borrowers with bad credit — typically come with high APRs. But as a tribal lender, Minto Money doesn’t have to abide by state laws, allowing it to charge even higher rates. For better terms, look into installment loans from non-tribal lenders.

Minto Money also falls short on the loan amounts it provides. You can only borrow up to $3,000. If you need a larger amount (with better rates and a longer repayment period), try a personal loan or home equity loan.

You can’t borrow from Minto Money if you’re active-duty military or their dependent. Thanks to the Military Lending Act (MLA), APRs for military members are capped at 36%, which Minto Money exceeds.

What makes Minto Money shine?

Minto Money offers fast loans that can be deposited into your account as soon as the same day. The application process is fairly simple, and its customer service agents earn high praise on Trustpilot.

You can also repay your loan early with no prepayment penalty, which could save you money on interest.

Minto Money loan details

Minto Money contact information

Calculate your monthly loan payments

To find out exactly how much a loan might cost you, enter the amount you plan to borrow plus the interest rate and repayment terms below.

How to qualify for Minto Money

Minto Money lists just a few qualifications on its website. They are:

• Be 18 years of age or older
• Be willing to provide your income, checking account and contact information
• Not be in a current bankruptcy case

How to apply

If you’ve decided Minto Money is the best option for you, here’s how to apply:

1. Go to the Minto Money website and select Apply Now.
2. Fill out a preliminary application by providing how much you want to borrow, your personal details, income information, etc.
3. Receive an email updating you on the status of your application. You may need to speak to a customer service agent to verify your details.
4. Receive your loan agreement if approved. Review the terms carefully before signing the document electronically.
5. Expect to receive your funds either the same day (if before 2 p.m. CT) or the next business day.

Minto Money reviews and complaints

Minto Money has a terrible reputation on the Better Business Bureau (BBB) website. Seventy-four reviewers out of 76 give the company a single star. The primary complaint is the high APRs, reportedly around 700% and up.

Customers also say that Minto Money hides its APRs from customers and doesn’t disclose them on paperwork. Multiple people call Minto Money a predatory lender and say it’s a “scam,” “highway robbery” and a “rip off.”

Reviews on Trustpilot tell a completely different story. The majority of customers, 79%, give the company 5 stars, with 10% giving it a 1-star rating. Happy customers mention how fast and seamless the process is. They also praise the polite and helpful customer service agents.

Those who aren’t so pleased raise the same issue as customers on the BBB site: extremely high APRs. Other complaints include approval taking longer than expected and paying off the loan, then being told they owe more.

Frequently asked questions

Is Minto Money a real company?

Yes, Minto Money is a real company. It’s a tribal lender owned by the Benhti Economic Development Corporation (BEDCO), which was created to benefit the Native Village of Minto (a federally recognized sovereign tribe).

What kind of a loan is Minto Money?

Minto Money offers short-term installment loans. Repayment terms range from 10 to 18 months and APRs are reportedly in the triple digits, up to 750% and higher.

How long does it take to get a loan from Minto Money?

You could get it as soon as the same day if your application is reviewed and approved by 2 p.m. CT. If loan approval is after that time or on a weekend or bank holiday, you should receive funds the next business day.

Where is Minto Money located?

Minto Money is based in Minto, Alaska. Its mailing address is PO Box 58112, Minto, AK 99758.