Excellent Lending Experience with the Newtek Team
We had a great experience working with the Newtek Bank lending team, particularly John Georges and Marva Tillett.John was our primary point of contact throughout the process and was exceptional to work with. He was responsive, professional, and knowledgeable, guiding us through what can often be a complex SBA loan process. John kept everything running in a tight and organized manner, clearly communicating what was needed at each step and making the process of liaising with underwriting straightforward and efficient. He also took the time to understand our business and its needs.Marva led the closing process and was equally great to work with. She was organized, responsive, and very thorough in managing the final stages of the loan. Marva kept everything coordinated and on track, ensuring the documentation and closing steps moved efficiently and smoothly. She was also just a pleasure to deal with throughout the process.A quick mention as well to Alyssa Kennedy. While we did not work together as directly, it was clear the process was well run and supported by strong leadership.Overall, the process was handled professionally from start to finish and the loan closed smoothly. We’re very appreciative of the partnership, would gladly recommend the Newtek team to other business owners, and look forward to continuing to grow with them.
Rudy
Tried many times to open a cd account
Tried many times to open a cd account . Their process is ridiculous chat does not work!
Mike DePue
I opened a CD online 9 months ago
I opened a CD online 9 months ago. Super easy process and now that it's time to close my CD, Ja'kira helped me with transferring funds to my external account. I will definitely use Newtek in the future and thank you Ja'kira for the quick responses.
Michelle Dupre
Helpful Customer reps
I encountered some difficulty opening an account but when I called customer support, the rep I spoke to, Ja'kira, was very helpful in resolving the issue. Outgoing ACH transfers take a little longer compared to other banks but the higher interest rate the bank offers still makes Newtek Bank a good place to invest your savings.
Elliott Krakauer
Very responsive when needed via email…
Very responsive when needed via email and/or phone. Thank you.
Mr ROMERO
I received outstanding customer service…
I received outstanding customer service from Biridiaini who helped me navigate through a complex transaction. Overall this is a great bank. Be aware they have limited link up opportunities with other external banks and limit you to only one external bank. Otherwise I was extremely pleased with all other services offered. i am currently and plan to be in the future a customer of Newtek.
Cary R
Working with Newtek has been a delightful experience!
Working with Newtek has been a delightful experience. Managing and transferring funds is super simple. Their agents listen well and answer questions in a timely manner. For example, Katie-a Tier 2 Support Agent, recently offered a quick resolution to an uncommon question. Very impressed after several months of being a client.
BL
Low overhead -> High rates
This is a streamlined, right-sized operation offering very competitive HYS/CD rates with no strings attached: i.e. no minimum balance (DO be aware of maintaining a $0.01 daily minimum balance), no contingency on direct deposits, signing up for other products, etc...They compete so well by keeping their overhead low, which comes with a few understandable and navigable trade-offs: no real-time transfers with the too-big-to-fail types (with any of whom one should not be 'all-in' these days), limited connectivity with external accounts beyond the original funding source, etc...Customer service has been professional, accommodating and above-board.Overall, a solid place to keep your 'dry powder' if you can discipline yourself to a ~72 business-hour latency. Everybody knows CPI is cooked & fake. For now and into the foreseeable future, you're getting variously disappointing (~1-3%) or downright insulting (0.01%) negative real returns on any & all of the TBTFs' vanilla offerings. You're much closer to at least treading water at Newtek.
Eric
Ja’Kira was wonderful in helping me…
Ja’Kira was wonderful in helping me understand what was going on with my bank transfer. Very pleased!
susan donovan
I am absolutely thrilled with this…
I am absolutely thrilled with this bank, and the ease of opening an account and would like especially to thank Ja-Kira for her wonderful help. Customer service is where it's at.
Vicki Taft
Great Service!
We had a problem with wiring some funds. After many tries, a supervisor named Jessica Gross became involved and took care of everything!Jessica was extremely pleasant, smart and readily recognised the problem and resolved it!We were grateful for her assistance.
Bruce Salimi
Failed to deposit my earned interest.
I had a substantial sum of money invested (close to $100,000) and closed the account before the end of the month. They failed to add the accrued interest for the month and when I called them I was told that this was because the account had zero in it at that last day of the month. BUT, because I had alerted them, they would be manually placing that interest in the account. I have not yet seen any such payment into the account (it's the third of the new month). Second issue, when withdrawing my savings, I had to do this in installments, over multiple days because of a limit to withdrawals. Newtek is happy accepting large deposits, but makes it much harder to take your money back. For example, you have to select a withdrawal date three business days ahead before they even begin the withdrawal process, so don't expect your transfer to happen anytime soon. (I have screenshots to confirm all this.)
Pablo West
This is not my first experience dealing…
This is not my first experience dealing with an online financial institution. I was pleased with the ease accessing their website and maneuvering my way around as well as the message board. I just recently dealt with Ja’kira who expeditiously answered my questions and resolved my concerns as well as my financial task. She was very prompt, professional and pleasant.
Tim Colter
Newtek bank doesn’t offer CDs.
Newtek bank is advertised in several searches as having an attractive IRA CD rate. So, we called to see about rolling one of our IRA CDs over into a Newtek account. The rep seemed confused by our inquiry. Later, she comes online saying they don’t offer IRA CDs; that they have to be individual CDs. (Whaaat?) When we explained we are individuals, she goes offline again to research. She comes back on stating that “they” don’t offer CDs (presumably, at all). By this time it was obvious we were wasting our time and closed the session.
Anthony Deakins
Katie in Tier 2 took my non-routine…
Katie in Tier 2 took my non-routine matter and handled it easily to make everything go smoothly!
withheld
SBA loan
Matthew and Robyn are very helpful with my loan process. They went through step by step in helping me getting all my documents ready for the process.
Ngie Siew Lau
Eileen was amazing
Eileen was amazing. I have never worked with someone so well and so quickly to get my issue taken care of. She went above and beyond and if I could give her more stars I would. Give that girl a raise.
Kate Wills
Easy to work with
Easy to work with. I use email, online account messaging for questions or requests. I haven't spoken to an individual however it hasn't been necessary. They are prompt at replying. My last communication was with Ja'Kira. Very prompt. High Yield Savings interest rates comparable to CD's with the ease of not locking our money up for months at a time. Moving money from one account to another (Newtek bank or other) takes 3-5 business days to complete.
Karen
Everyone though this whole process was…
Everyone though this whole process was very helpful and easy to talk with.
Tiffany Fields
Mathew and the whole crew ,everyone I…
Mathew and the whole crew ,everyone I have dealt with was very professional,always to the point ,no wasting time.
Hassan Mohamed
