Monorail: Invest & Save Reviews

by Jo_1250

As a single mom I wanted to use Monorail to save for emergencies and my daughters college fund. I have a little over $600 in Monorail and have been waiting 2 months to get it back. When I first requested an estimated transfer time, Justin replied and apologized for the “hold up”... weeks have gone by and now he’s not even replying and my money has STILL not been transferred back! I’m beyond upset and frustrated. Do yourself a favor and DO NOT use Monorail.

by DADof65kids

But there are some big problems. I like UI and UX of Monorail , it’s clean and easy to understand unlike some investing apps. But, it can be very buggy at times. Just getting into Monorail can be a problem. The BIG problem is how long it takes to withdraw your money. One situation, I withdraw a significant amount of money I had saved with the “save” features to buy Christmas gifts. I withdrew the money the day before thanksgiving. I didn’t get my saved money into my account until the beginning of January. This is completely unacceptable. I got ahold of custom support two weeks into waiting (they say up to two weeks is how long it takes to withdraw) and they told me to turn off reoccurring investments, after literally blaming ME for how long it took. REALLY BAD costumer service! The guy talked down to me and blamed me! But, I turned off the investments, still took nearly three weeks after that. Again, two weeks ago, I turned off reoccurring investments, withdrew a significant amount of money and I haven’t gotten it yet! It’s just not reliable, really inconvenient and makes me wonder if they actually have liquid cash that they are able to give back to their users?!

by Alanalynnr

I wanted to like this service. I just can’t. It is very user unfriendly, and Monorail is not intuitive in nature. The user has to go through multiple windows to find statements and set up transfers and withdrawals. I had issues with the round up feature, connectivity to my bank account and withdrawing funds had taken up to 8 days (which is stated in their policy) however as a user of both Acorns and Robinhood, every time I’ve withdrawn funds I’ve gotten them almost instantly or 1-2 days. If you are someone who needs quick access to funds do not invest with Monorail. I will continue using Acorns and Robinhood as they are much easier to use as well as liquid.

by SheASquirt

I’ve sent messages several times to figure out why my withdrawal has been on hold for months. It took a few tries to get a break down on why I have to wait 90 days while everyone else finds were released in 1-2 weeks. Was given a bonus for my troubles which has been pending for a month since I closed my goal.
I still haven’t gotten the reason my withdrawal from me investing went from PENDING to ON HOLD. But it was my fault for withholding my review until now.

by SwimAnna

I've had Monorail a few months and originally put in $500. The tell you when you sign up you'll get a $5 credit. That's a lie, you'll never get it. It will show it in "pending" status the entire time and never been transferred into your account. Also, when you go to withdrawal money it will disconnect you from your bank and say it's your banks issue. Then if you try to hook up another account, it will also have bank issues. Finally was able to withdrawal the $500 then I went back into Monorail a few days later and it was cancelled. This is just beyond ridiculous.

by Not Happy About This Game

Please don’t use Monorail!!!! Money was taking from me that I wasn’t aware of until I looked in my account. Reached out to someone and they told me I shouldn’t have created Monorail with a little money in my account. Like I’m not about to put my bank (I’m most active with) on here where I pay bills from. The person also said give them 5 days to handle everything and I will be able to get my money back. Well, it’s been over 5 days and no ones bothered to reach out to me. Not only that my account was deleted, like how am I able to reach out to you. Horrible app and customer service is 💩💩💩

by Naeemthedream

So the $25 referral apparently takes 8 weeks to deposit to your account but of course they don’t mention that when they are promoting the referral codes and “free $25”. Also you have to put in your personal bank information and regular deposits take 1-3 to get into Monorail and 3-5 thereafter. I withdrew an instant transfer from cash app and it literally took 3 days to get to Monorail. Yes I said 3 days. Stay away if you value time and not waiting to get grey hair waiting on a bank transfer.

by Zillow Is So Much Better

I created an account and set up to save a certain amount if dollars a day. When I went into Monorail the next day to make sure things were working appropriately, I was unable to login. There were a few glitches that prevented me from moving forward with certain areas of Monorail so i just gave up on those. I went on to the website to email them to cancel my withdraw amount but couldn’t ever find an email address. I’m hoping this review will get their attention and warrant a response.

by Alishamiller01162010

If you refer heavily don’t waste your time they have a monthly limit of 100$. Doesn’t keep track of your refferal to the next month and if it over 100$ anythjng after that is a loss and a gain for them if I would have know I lost 300$ in refferal I wouldn’t not shared with so many people it was a real let down to know all my refferal was a lost and I wouldn’t be paid cause I exceeded the monthly limit well in the disclosed doesn’t say my ref would be lost or I would lose
Money in the matter !!!

by Beautyfoundlove8

Once you put the money in there you won’t get it out. I’ve been communicating with Justin and he’s done nothing so far and it’s been 3 months. Also they take a long time to charge your bank. Be careful because if you don’t have enough to cover the transaction you will get a $30 charge from the bank for returned check fee. Oh, and they will tell you we’re sorry about this we’ll help you... Nope, never! Please let me save your time and money with this review. Have a nice day.

by Kimberlyc16

I used Monorail to put money aside slowly, $5 a day.. well if you have America first it apparently doesn’t work. But they have no problem taking your money, you just can’t get it back. I have over $700 put away in Monorail!!! I’ve been trying to withdraw it for 2 months. People kept telling me they are working on it and now I’m not even getting a response. Don’t use Monorail!

by SiestaKeyNole

Smart way to manage finances and easy to use. With everything getting more expensive this really helps manage my money.

by Ann1982*

This is a wonderful all in one app! I’m able to decide how and where I want to save, invest, or give my money. I’m also able to set it up so I can save money for a vacation, shopping, a new car, etc. Easy and simple to use.

by Kksage

Easy to navigate and to set up 👍👍

by Ath@124

I think I like it more than Robinhood. Which is a big deal. They’re sorta hard to compare but it feels easier to use. I like the look if it a lot more. overall I’m really happy with this take on the fintech type app.

by Jon2683

This Vimvest app is truly awesome. Monorail really gives you great visibility and flexibility with your finances. The ability to save for your goals, invest for the future and give to nonprofits in under one platform really is what makes Monorail standout. It is very easy to use and has a lot great built in features!

by Colly8287

I needed Monorail and what it offers-to help motivate me to save! How great it is that I can work towards saving for a trip that I would normally never take the Initiative to put $$ away for. And it is a great help in being mindful of saving and giving towards non-profit groups. I love having the ideas pop up on reasons to save! And new projects to explore!

by Sarahrit3

I truly love Monorail! It has quickly grown to be one of my favorite apps! Monorail has helped me save money so quickly, and meet goals much faster than ever! I have experienced a few bugs when using Monorail , but the developer has been very helpful and quickly communicated with me that the issues where being handled. Overall- even with the minor issues, Monorail is a must have and so convenient for saving!

by Beau Bebeau

My overall experience with Monorail has been great. I think there are a few bugs I have run into as far as Monorail is concerned (which are a part of every app) but I have reached out to the support team and they are responsive every time. It’s a great way to set savings goals and make sure you pay yourself.

The long terms goals are not something that you should expect to pull out overnight. I have been using it a little differently than I am sure it was intended and since the money that goes in is invested into my portfolio I can understand it takes time before transferring it back to my account.

Short term savings funds are usually deposited within 24 hours.

Looking forward to the new features coming out.

by Btothemcole

Monorail is so easy to navigate. The clean, simple design and flow make big financial concepts easy to understand. I’m new to the world of investing, so having help setting up the breakdown of how much I want to invest and where to do so has been a valuable guide. I also love the prompts that provide great info/ideas on travel destinations for my bucket list. I appreciate that Monorail gives access to trusted charities that I can easily designate funds to. That has made me feel great about where my donations go. I love Monorail and recommend it highly!

by Beeeemer

I’ve been using Monorail for awhile now, and I’ve been able to reach four goals... vacation, new car exhaust, etc. I like how the deposit thing works, with one deposit splitting up. Easy to keep track of. Cool to make money investing for goals too. Super straightforward and helpful app!

by G@be21.

I have tried almost every investment/savings app made and this one triumphs! Very aesthetically pleasing, the investment portfolios are awesome and the savings goals and charitable options are so simple and helpful. I deleted all my other finance apps because vimvest basically replaces them all. Also very excited for all the options they are adding soon!