Frequently Asked
Questions

Frequently Asked Questions
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Frequently Asked Questions

Provide loans for federal government employees.

Provide loans to employees of contracted entities.

Provide loans to employees of hospitals, school districts, colleges & universities, public sectors.

Provide loans to military retirees and retirees of the federal government.

If you cannot access your payroll site, speak with your payroll administrator or supervisor for assistance in accessing your online payroll system. Or, reach out to a trusted individual for assistance.

If you leave your employer for any reason, we will work with you to set up a payment plan outside the workplace. To make a payment call us at 866.299.0211 or make a payment online by logging into your BMG Money account.

Provide loans to employees of hospitals, school districts, colleges & universities, public sectors.

Please call our customer service line at 800.316.8507. For general questions, you can also send us an email: customer.service@bmgmoney.com or chat with us online through our social media channels.

Monday through Friday 8 AM - 7 PM

Click the link “Forgot your password” on the BMG Money login page or contact customer service at 800.316.8507.

In order to change your email address, please send an email from the new email address to customer.service@bmgmoney.com along with your full name, last four of your SSN, your new email address and the reason for change.

When you relocate to another state we require a utility bill with the new address to update the account.

Please contact customer service at 800.316.8507.

If you are employed by one of the employers we work with, live in a state we are licensed in, are over 18 years of age, meet the length of employment requirement, not active in the military and do not have an open bankruptcy, we encourage you to apply. Please note that requirements vary depending on the loan program and are subject to change.

We do not run credit checks when you apply.

The amount is varied by state, program and employer, if applicable.

Visit our website and click “Get Started” to create your profile and begin your application.

There are no hidden fees. However, depending on the state and the program, there may be a one-time fee ranging from $0- $59 after approval.

Most loan programs, but not all loan programs, require that you link your banking information.

If your bank is not eligible to connect with our system, please call customer service at 800.316.8507 for assistance.

We do not run credit checks when you apply.

Applications are reviewed by our underwriters and generally take 3 business days.

Paying off your loan is easy and free of charge. You can also find your pay-off amount online by logging in to your BMG Money account and selecting “Make a payment.” Or, simply call our payments department at 866.299.0211. Please note that it generally takes two business days to process your payment and debit your bank account.

It is very important to keep your personal information up-to-date so we can send you important account information and keep you informed on offers related to your eligibility. Contact customer service for additional assistance at 800.316.8507.

If you leave your current employer for any reason, we will work with you to set up a payment plan outside of the workplace. To make a payment call us at 866.299.0211 or make a payment online by logging into your BMG Money account.

You can access your account information such as balance, payment schedule, transaction history , eligibility, loan documentation, payoff information and more through your BMG Money account.

Click the link “Forgot your password” on the BMG Money login page. Or, contact customer service at 800.316.8507.

In order to change your email address, please send an email from your new email address to customer.service@bmgmoney.com along with your full name, last four digits of SSN, your new email address and the reason for change.

Additional payments may be made anytime online, free of charge. Log in to your BMG Money account and select "Make a payment" and create your payment as needed. Making future scheduled payment(s) is also available. Or, simply call our payments department 866.299.0211. Please note that it generally takes two business days to process your payment and debit your bank account.

Please contact customer service at 800.316.8507.

When you relocate to another state we require a utility bill with the new address to update the account.

A payroll allotment is a specific payment amount automatically deducted from your paycheck and electronically deposited to a Firstnet (Wesbanco) Savings Account opened for you once your loan is booked. This allotment is used to pay off your loan.

Usually this occurs when you refinance your loan. You must stop the existing allotment and create a new allotment with the new scheduled payment date.

Login to your payroll system to set up your allotment.

Log in to your payroll system to stop your allotment deductions.

A split direct deposit is a specific payment amount set up through your payroll system to deduct from your paycheck and electronically deposited to a Firstnet (Wesbanco) Savings Account opened for you once your loan is booked.

Paying-off your loan is easy and free of charge. You can also find your pay-off amount online by logging in to your BMG Money account and select "Make a Payment". Or, simply call our payments department at 866.299.0211. Please note that it generally takes two business days to process your payments and debit your bank account.

You can access your payroll system from anywhere. If you cannot access your payroll system, speak with your payroll administrator or supervisor for assistance accessing your online payroll system.

Additional payments can be made anytime online , free of charge. Log in to your BMG Money account and select "Make a Payment" and create your payment(s) as needed. Making future scheduled payment(s) is also available. Or, simply call our payments department 866.299.0211. Please note that it generally takes two business days to process your payment and debit your bank account.

Once the promissory note is signed you can not change the payment amount. However, you are able to make additional payments through your BMG account or by calling our payments department 866.299.0211.

We do not take payments via credit card.

Once you are eligible to refinance, the next loan amount level pays for your existing loan and the difference is released to you.

Eligibility to reapply is primarily based on consecutive scheduled payroll deductions or allotments and income. However, additional payments can be made to amortize your loan.

You are eligible to refinance after a certain amount of scheduled payments have been made.

Same day funding may be available for applications approved and signed before 12:00 p.m. ET, on a normal business day Monday-Friday (except federal holidays).
Funds are generally deposited via ACH for delivery next business day if approved and signed by 4:59 p.m. ET, on a normal business day from Monday- Friday (except federal holidays). If the next business day falls on a federal holiday, funding will occur on the following business day.

You could have funds deposited electronically to your checking or savings account. Loan funding by check is only available for specific loan programs.

Once you become a customer you receive a referral code that you can share with friends and coworkers that are eligible to apply. For every new approved and funded applicant that uses your code, you will receive $101. You can also receive a referral bonus based on the number of referrals you send to us. There is no limit to the amount you can earn.

The referral code is located on your dashboard when you log into your BMG Money account.

You can apply using the link that is provided to you from the referrer or when creating your login you can enter the code in the referral code field.

Your referral bonus is sent via ACH to the banking information you provided or by check.

Payments for all approved referrals are sent out on a weekly basis, in the following week.

We do not pull your FICO credit score when you apply with us. However, we do report the payments you make or miss with us to the credit bureaus which may improve your credit.

Upload the report originating from either credit bureaus (TransUnion, Equifax or Experian) to your BMG Money account or at customer.service@bmgmoney.com.

We report to all three credit reporting bureaus in the middle of the following month.

All paid in full loans will be reflected in your credit report in the middle of the following month, when we process the credit report.
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Customer Reviews

1 Instant Funding available if you provide a valid debit card, funds are generally deposited in the bank account linked to this debit card within minutes. If you do not choose the instant funding option, expedited funding is available and usually takes 2-3 hours to receive funds if your bank is within the RTP® network. For ACH funding outside the RTP network, same day funding is available for applications approved and signed before 12:00 p.m. ET Monday - Saturday not including federal holidays, for applications approved and signed by 4:30 p.m., funds are generally deposited the next business day Monday - Saturday not including federal holidays, in which case funding will occur on the following business day.

2 Your FICO Credit Score will not be pulled for the processing of this loan application; however, failure to make payments may affect your FICO credit score.

3 Subject to BMG Money, Inc. or BMG LoansAtWork, LLC loan program requirements and approval.

4 BMG Money loans are provided at a significantly lower cost than most payday loans. For example, in Florida a $2,000 loan with a one-time fee of $25 will be repaid through 25 bi-weekly allotment installment payments in one year, will have an APR of 32.25% and a bi-weekly allotment installment payment of approximately $95 with a total payback amount of approximately $2,358.82 (assumes a 06/14/2021 loan execution date). In contrast, “...the average interest rate on the average payday loan is 391%...” Source – https://www.stlouisfed.org/open-vault/2019/july/how-payday-loans-work - July 19, 2019.

5 Our interest rate match policy applies only to loans made by BMG Money, Inc. or BMG LoansAtWork, LLC, intended to be repaid by payroll allotment, to employees of the U.S. federal government (excluding military service members) residing in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Minnesota, Montana, Nebraska, Nevada, New Hamsphire, New Jersey, New Mexico, New York, North Carlina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Washington DC or Wyoming. * TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER YOU MAY WRITE OR CALL Customer Service Manager at 444 Brickell Avenue Suite 250 Miami, FL 33131; (800) 316-8507; or at customer.service@bmgmoney.com. TO RESIDENTS OF NEW MEXICO: This lender is licensed and regulated, when making loans of $10,000 or less, by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website "New Mexico Regulation & Licensing Department". All loans are made by BMG Money affiliate BMG Money LoansAtWork, NMLS #1649032.

6 Military Lending Act Disclosure:  Due to rules and restrictions within the Military Lending Act, this program is not available to active duty service members or their spouses.

7 California Residents: Loan made or arranged pursuant to a California Finance Lenders Law license please note, that "California Finance Lenders Law" has since changed its name to "California Financing Law”. California Privacy Rights: If you are a California resident who is a natural person, the California Consumer Privacy Act (“CCPA”) provides certain rights concerning your personal information, unless an exception applies. These exceptions include information subject to the federal Gramm-Leach-Bliley Act (“GLBA”) and Fair Credit Reporting Act (“FCRA”). In addition to the exceptions under the CCPA, the CCPA does not consider information to be personal information if it cannot be reasonably linked to any consumer or household. The information that we collect, use, and share is exempt from the CCPA because it is subject to the GLBA, subject to the FCRA, or it is not considered personal information.

8 Residents of Washington: BMG LoansAtWork, LLC holds Consumer Loan Company License # CL1649032; NMLS Consumer Access webpage: www.nmlsconsumeraccess.org

Payment terms from 6 to 36 months
Annual Percentage Rate (APR) ranging from 16.99%-35.99%
Loans do not require repayment in full in 60 days or less from the loan issue date
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