Newtek Bank Reviews 371

I am extremely satisfied with my experience banking with Newtek Bank. Ja'Kira and their other service professionals I've interacted with have always been courteous, prompt and very helpful.

I've been with the bank both high yield and 6 month CD about a year now. Higher yields than any brick and mortar banks and straight forward with both accounts. At this time I can state that all is good, no worthwhile issues, and much better yields make the online experience worth it.

I find the customer service not serving the customer

I have opened both high-yield savings and short-term CD accounts with Newtek Bank, and found their interest rates to be consistently high. Also, Newtek’s customer support has been exceptional – Katie and the entire Newtek contact center team have done a fantastic job answering both telephone calls and secure messages through their website. Thank you, Newtek Bank !

"Warning: Newtek Bank takes a massive amount of personal data and charges high fees, yet they use every possible excuse to deny your loan. It seems they are more interested in collecting fees than actually lending. Avoid them at all costs."

Quick response from Ja'Kira for my questions. Professional customer services.
Competitive interest rate.

I had a question and Katie was extremely helpful in guiding me to meet my objective.

It is a good institution to do business with.

I received excellent support from Ja’Kira Price in Digital Banking. She was patient, knowledgeable, and resolved my issue quickly. I appreciate her professionalism and the clarity she provided.

I am a new customer with Newtek Bank. I am very particular who I do business with and I have several accounts with different companies. I have to say that my experience with Newtek Bank has been excellent!! If you are looking for a business to bank with look at Newtek Bank first. They have stellar customer service and interest rate!! Platinum service for sure!!!!

Ja’Kira was absolutely outstanding. She provided clear, professional, and timely assistance in helping me move my trust forward, update my beneficiary information, and request my verification letter. She explained each step thoroughly, ensured everything was handled correctly, and followed through without me having to chase updates. Her knowledge, attention to detail, and customer-focused approach made what could have been a complicated process feel smooth and stress-free. Truly excellent service.

Recently opened a personal account and followed up with bank to bank transfer a few days later without problems. What new to me that the bank did not have any forms available on their web site, I called and was told by rep if I wanted to name a beneficiary to acct, send secure msg. I was expecting a blank form but was told to reply to msg with name, SSN & amt of beneficiary. Waiting for and update from them to verify if completed correctly. There is NO dropdown addressing any forms and also there is "NO" search on web site to look for anything.

Ja’Kira assisted me today in re my CD.
She was professional, efficient, competent, very pleasant to speak with and resolved my issue. She is a credit to Newtek.

Best regards

Jim

Mark S . resolved my online deposit problem . Courteous and professional . Excellent customer service .

One Star Review:
I was willing to at least give two stars based off potentials of the company but I haven't even started & already dealing with complications. To what seemingly looks like a great place to bank, I just wanted a bit more information. I had already waitlisted myself but since this is something I'd like to open sooner rather than later, I figured I'd ask follow up questions & it wouldn't hurt. I was connected with Destiny. Answers received were cold & sharp, not exactly customer service. I was asking follow up questions in regards to the process and/or time frame expectations, but was rushed by a very copy & paste "anything else I can assist you with?" right before I was kicked out of the conversation mid type (which I know you see chat bubbles). Extremely disappointing.

Updated: 1/28/26
I thought it best to show my original reaction compared to the one I have to say today. They almost immediately reached out after my post which was fantastic and I feel is a rarity nowadays. Joanna had contacted me after my initial review & what a breath of fresh air that she was! She apologized time & time again for my first interaction, continued with a great attitude as she very clearly answered my questions & informed me as to what I can expect in the future. The only thing that is keeping me from giving 5 stars is the fact that I'm not banking with them already!
I'm super happy with the turn around & I hope to be banking with them soon (:

If I could give it a zero I would. I made one single transfer to this new savings account I opened with Newtek bank and have been unable to login to my account and access my money ever since. It’s been a couple months of me going back and forth with customer service trying to get my money. Don’t bank here!

The bank appears not to honor its obligations anymore.
I am unable to return the balance from my CD account that matured on January 15. The bank doesn't process my money withdrawal request. Their customer support rarely responds to my messages, and I am unable to reach out to them over the phone.
I highly recommend avoiding them at all costs.

Complaints have been filed with CFPB and OCC.

Representative was nice and answered all my questions. Gave me step by step instructions and provided useful tips.

I've had to call in twice for assistance with my online savings account, and Mark S. helped me both times and exemplified the kind, patient, knowledgeable, professionalism one would expect but rarely receive these days. He was great, and I really appreciated his help. I wish most banks and businesses had the same level of customer service.
My only complaint about this bank is the pathetically slow ACH speed for funds transfers, and the limits per transfer should be higher; otherwise, I am extremely satisfied with Newtek Bank and their industry leading savings rate!

I've had several online banking accounts. Newtek surpass them all by flying colors. First their customer service they know what they're talking about. I have been extremely satisfied. Like most things there's a ways of fee for a wire transfer not with newtek it's just another perk becoming a member. They offer the highest high yield interest rates and some of the best CD rates. Number one you won't beat their customer service they have always called me when I left a message. Highly recommended.

⭐☆☆☆☆

Extremely disappointing customer service experience.

I have been trying to do a wire and encountered repeated delays, unclear instructions, and contradictory information through the bank’s secure messaging system. Despite multiple requests, I was never provided with the correct form or clear steps to initiate the wire.

Out of concern, I called customer service and was told that everything looked fine and that my wire request was already being processed. More than 48 hours later, I was informed otherwise, which was both confusing and frustrating, and causing further delay.

I bank with multiple institutions and have never experienced this level of inefficiency or difficulty accessing my own money. I am very familiar with DocuSign, but one cannot sign documents that are never sent.

This process was unnecessarily stressful and unprofessional. I would not recommend this bank to anyone who values timely, clear, and reliable customer service.

I'd give a zero star if I could.