Greenwood- Modern Finance for the Culture Reviews 331

First, I want to say I was genuinely excited about the opportunity to bank with an institution that positioned itself as understanding the historic barriers people of color face in banking, finance, and economic growth. I signed up prior to launch and was ready to support the platform when services went live.

Because it was an online-only bank and new to me, I chose to begin cautiously. I used it as a secondary account, making small deposits and directing a portion of my incoming income there. Initially, the experience was smooth. I appreciated the community-driven messaging, even though there were no Chicago-based businesses represented at the time.

When I discovered that investment options were available, I was even more encouraged. As a newer investor, I typically test strategies with small amounts before making larger purchases through my Charles Schwab account, which I trust due to its regulatory structure and operational stability. Seeing similar functionality within Greenwood, I decided to try using it the same way I use Cash App for small trades.

That decision turned out to be a serious mistake.

At first, I was able to buy and sell without issue. However, after selling a position, I discovered there was no way to transfer the proceeds from the investment account into either “spending” or “savings.” The funds were simply inaccessible.

I began calling customer service — no answer. I emailed and received a response two days later, only to go back and forth for another two days before being informed that the email address listed inside the app does not handle investment accounts. I was then given a different email address.

This process took approximately a week, with multiple attempts to call during normal weekday hours only to find the banking line closed. A financial institution that is unavailable during standard business days raises serious operational concerns.

After evaluating the situation, I decided to close the account and withdraw the remaining balance from the investment sale — $50. That may seem small to some, but it is my money.

That request was made over a week ago.

As of today:

No response to the investment account email.

No supervisor made available despite request.

Repeated instructions to “email the investment department” with no resolution.

Funds remain unreleased.

When a financial institution holds customer funds without access or response, that is not an inconvenience — it is unacceptable. From my perspective, withholding accessible funds without resolution constitutes wrongful retention of my property.

I am a senior living on a fixed income. Every dollar matters. This experience is not just disappointing — it is deeply troubling.

Greenwood markets itself as a bank built to empower Black economic growth. A 1.6 rating and unresolved customer fund access issues do not reflect empowerment or operational integrity. Leadership, including Mr. Andrew Young and Mr. Ryan Glover, should urgently review customer service operations, investment account administration, and regulatory compliance practices.

Consumers deserve transparency, access to their funds, and responsive service.

Until these operational issues are corrected, I cannot recommend placing funds with this institution.

You have been warned.

I am so disappointed and frustrated with this bank and its service!!!

To start, it was a challenge for me to change my address. With most other accounts that I have I can go into my account and change my address. Easily within the account myself! No not with Greenwood.

I had to reach out to customer service, via email. Wait for a response from them and have them do it.

I had to give them different types of proof of ID, typical stuff, DOB, SSN, account info but also my utility bill. Why do you need my utility bill?! What irritated me was that I moved in with a family member and didn't have a utility bill!! So now what? There was no other way, even though I provided more important means of ID? I couldn't change my address it all hinged on needing to supply my utility bill. So my DOB SSN and account info aren't enough?! When I did eventually get my own place and bills, I was able to supply a utility bill and finally get my address changed.

I have been trying on and off—this most recent time over 3 weeks—to link my other bank accounts to my greenwood account. I keep getting a variety of errors but utimaltely attemps failing.

I actually got service to help link the account two different times. The reps did it on their end. And I was told that I would be able to see my linked accounts on my end. No I couldn't.

By the way all of this was mostly by email. Every time I have called I have had to leave a voicemail to get a call back and this last time I got an automated error message stating that no one was able to answer my call.

So, I reached out a third time and was told that manually linked accounts could only be transferred to/from by agents!!!! I'm not gonna try and get a hold of customer service everytime I want to add money to my account!!

Not only that, every time I reach out to customer service they never seem to understand what the #$$% I'm trying to tell them. Even though I carefully and as clearly as possible list it out with bullet points! They miss the point. No I don't want to change my address! I need to enter a different address for this account that I am linking!

I'm about done. Taking my money out. They need to get it together.

Greenwood has been a nightmare. For starters, the app is horrible, I dont receive any notifications (even if its turned on) I have to enter a code to log in (instead of just using my password). I received an email stating that my debit card had been deactivated and a new card will be sent, its been over 2 weeks, unable to withdraw money and make certain transactions due to a change in my pin number. After i receive my card, I will have to close my account, just too stressful.

Hello,
I have been trying to contact someone concerning my account but to no avail no one is assisting. I contacted them emails, few responses someone going to help or wait until Fraud department reach out. I have bills and sick child sick who needs meds! I need access to my account. This has been a horrible experience!!!!! Can someone please help!!! I need my money!!!!!

My Greenwood account was hacked on a Saturday morning, along with 2 of my other bank accounts. I immediately called Greenwood but because it was a Saturday the office was closed. I emailed instead. I called back on Monday and submitted a fraud claim and was asked to submit a document confirming my fraud claim. Before I even submitted the document, I received an email that my claim was denied because I did not lose access to my account and I checked it regularly. I submitted an appeal that they denied within 24 hours and then stopped responding to me. It's extremely disappointing and I lost almost $1500 from this experience and the kicker is that my other backs credited my funds back almost immediately. That was the biggest issue but my entire experience has been poor. I was constantly locked out of my account, having issues with my pin number and no response from email communication.

This is literally the worst experience I have ever had with any banking institution. I have called 3 weeks straight. Clearly, they have no customer service agents. They lie about a fake chat that should be available that does not exist. I have emailed every single day after every call for 3 weeks straight, and no one has yet to call me back. My money is frozen and there's nothing I can do about it. I'm assuming their plan is just to steal it and keep it and hope it's just forgotten about. But if ever I do get it resolved, I will be removing everything from there, it's swimming from the highest mountain about how horrible this institution is and why they give black businesses a bad name

Constantly getting flagged as fraud for transactions that I do often. Customer service has been down for a week and I have no access to my funds. I emailed on Monday and still no response. I sent a DM on instagram and they just gave me the email address again. No explanation or anything. They just say they’re changing customer service channels which is extremely vague. I don’t understand how a bank can hold your money hostage.

I cannot access a live Geenwood customer service agent after three attempts over the course of five days. There are "live chat" and email options for communication, but sometimes an issue is complicated and it is easier to speak with a person. If a business is not operating a traditional brick and mortar operation they should at least be sure that their customers have access to live support when needed, and not be forced to describe more nuanced problems via a chat box or otherwise.

Many many problems with this account transactions not showing up money missing from my account no one to talk to and have to talk to someone to close the account I’m trying to find out how to report the problems with whoever I need to to get answers maybe I should start it’s the news or something. Killer Mike ain’t ish

Today is June 9th 2025 in the last time I checked it's not a banking holiday Tell me why my account has been frozen since this weekend and here it is Monday morning I'm calling customer service and they're telling me that there is no one there to take my call because they are observing the holiday what the hell is going on I just want to get my damn money away from these people and close the account this is the fourth time this has happened for no reason at all I would not recommend this bank to my worst enemy and how are you saying that you're for the culture but your agents don't speak English well not even that they don't care about us get your s*** together or stop calling yourself a bank

The worst online "so call bank". Customer service reps don't know nothing. The mobile deposit icon wont work and haven't been working for the past year. Greenwood just need to close it service down. 0⭐

Can't use my bank card for transactions. Everything is declining and I'm supposed to be driving to a wedding in a few hours. No customer service, no FAQ page that works, can't even upload money to cashapp. Tried so many different ways to pay my daughter's and sons rent and now that gonna be late.

This company is horrible, I’ve had some many problems getting money out of the account and receiving money. And customer service is no help!

I have been waiting for a replacement debit card since April 11. I have spoke with three different supervisors that has reassured me that my card has been expedited. Still no card and it’s now a month this week that I’ve been waiting on a replacement card for my inconvenience. I was told that my monthly fee will be waived just to have them take it out of my account anyway this is very discouraging for any perspective customers. I would hate for that to happen to anyone the way that I’m being treated Very unfortunate that this company is treating me this way considering I have money deposited into my account on a frequent basis. The fact that I have no assets to my money, that’s being deposited is mine blowing, but you’re taking money out of my account for me not to be able to have access to my own funds. Not sure what kind of bank this is, but that’s not something that should be happening.

I deposit a check in yesterday and I called in this morning to find out why my check is not showing up in my account. They told me they don’t even see the deposit I made and they don’t know when it will show up. I ask to speak to the supervisor and I get the same answer. I ask them where are the calls originated from and they said Atlanta and I said no it’s not. I ask them what country are they in and they kept avoiding the question. I join this bank because it was black owned and I expect a black persona when I called customer service and not from a country that don’t like black folk. There customer service is horrible

This is absolutely the worst bank I've ever experienced. I am expecting a payment from a mortgage company today and yesterday I get an email from Greenwood, telling me that they needed additional documentation from me, regarding this transaction. The mortgage company called me yesterday to verify my account and told me that the funds should be in my account in 24 hours. I sent the documents over yesterday evening, called them this morning to see if they received the documents and the rep stated that she has no records of an email being sent to me, nor does she see an email from me. I'm so frustrated and on top of that, there's no one in a higher position that you can speak with. Now I'm just playing the waiting game, hoping that my funds arrive on time. I do not recommend this institution!

I tried I did to suppor a black owned bank ( now they saying financial tech company) but im going on day 4 without being able to access my funds. The custom service is HORRIBLE half of the help have heavy accents so you can't understand what they are saying killlermike Ryan glover and Andrew Young. You've lost my trust and my funds

We also had an unsolicited marketing email from Greenwood offering business finance. We however decided to give it a go and got on a call with someone called Steve. Upon submitting a bunch of documents my business partner was promised 24 hour decision from Greenwood's finance partners. And it was the very last time we heard back from them. Multiple chasers- total ignorance. I guess they realised it won't be an easy catch and dropped our case- without even telling us. Can't imagine we will trust with our finances to such a business. Stay away, scam.

Greenwood stole my money. My tax return was set to be direct deposited into my checking account on the 26th of February. When I tried to log into the app to check my account I could not log in so I called customer service. They told me that all I had to do was rest my password and I would be allowed access again. I also inquired about my refund deposit and she told me that my refund would be deposited by 9pm. Immediately after the call i tried to rest my password and instead of receiving a verification code in my email I received this messages “ We have completed a review of your account and have decided that due to failure to meet the internal criteria for continued use, we won't be able to service your Greenwood account. As a result, your account will be formally terminated right away. We regret the necessity of this action. We wish you all the best!” So the closed my account the day my refund deposit into my account and they lied to me over the phone. They stole my tax refund of over 5,000$ and they stole my money that was in my checking account. This is extremely unfair. This is fraudulent behavior not to be expected from a bank that is so called for the people. I have filed a complaint with the cfpb and I hope to get my money back. I have also reported them to the irs. Please don’t bank with Greenwood… they appear to be a good bank for the culture but in reality they steal from the black and brown communities. They are absolutely disgusting.

Greenwood bank is the worse bank I have ever worked with.. Going bankrupt is the only thing that could make them any worse.

1. Its not even a real bank so all the stuff on the website is BS. In tiny tiny print they put that they are "finance technology" company. They trash at that too. The app is horrible. You can't deposit checks via pictures. You cant wire out and It says it takes 4Hours for wires to come in on their incoming wires page... THAT IS A LIE. I have proof. It once took an entire week. No mistakes on my end or the sending bank. All Greenwood. Makes me think they have network connectivity issues and they dont warn the customers about it.

2. Security. The worse security setup I ever seen. So if they block your debit card because of suspected fraud (withdrawing from an ATM like a normal person) You cant use the card, you cant send money from the account, you cant do only purchases. BUT they will you to use the card in store. That is dumb. If you think its suspected fraud why the hell would you let the card to be continued in ANYWAY. I couldnt withdraw from an ATM but I could go to Walmart and do $100 cash backs and NOT A TEXT not a blink of an eye from Greenwood.

Customer service: First off I like many of the others writing reviews joined this bank to support the culture. Support black owned businesses. When you call them up I'm 100% sure its a long distance call to India. No offense to India hey, not knocking the hustle but this is not what the culture looks like. But I cant be too mad about that its just that they all read the same script and NO ANSWERS. Speak to somone higher up its THE SAME thing.. you just gave the phone to the person to your left. They dont know anything. I told them my EXACT problem.. They take you through this verification process that leads to nothing because this the kicker.. You need the PIN for them get access to your account. NOT YOUR DEBIT CARD PIN, not your account password, not your 2FA, or a text number that could be easily sent to your phone.. So imaginary pin that you never set up. I never did and its not on the website. Imagine calling 9-1-1 and saying I been shot I need help. Oh ok tell us where you are your name blah blah blah.... you give that all to them and then they hit you with "Do you have that pin number we have from the last time you called 9-1-1?" WTF?!?!? no.. "Then we cant help you and it will take 2-3 business days to reset that pin for us to help you." <<<< WTF IS THIS GREENWOOD. Killa Mike please explain the purpose of this. If you dont trust your employees DONT HIRE THEM! If someone is calling you in an emergency "Hey I cant access my funds right now" They dont wanna hear "YOU GOTTA WAIT A COUPLE OF DAYS" Thats dumb as hell.

^ so all of this happened to me twice in the last 2 weeks . I truly believe they are having network issues because it doesnt make sense. So first time this happened customer support zero help.. One night I just try my card and its working like normal. NO EMAIL NO FOLLOW NO NOTHING NO REASON NO CHANGES NO ANYTHING. But I thought it was fraud? But I thought I needed to get this super secret pin changed that I never used?

AVOID THIS BANK AT ALL COST. My black brothers and sisters this aint the one.. I did it for the culture but this aint it. There has to be a better way. The founders and leadership of this FINANCE TECHNOLOGY company are complete failures. DO NOT BANK HERE!!! AND GREENWOOD dont waste your energy copying and pasting that dry ass reply to this.