Newtek BankReviews of newtekbank.com

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.

Tried many times to open a cd account . Their process is ridiculous chat does not work!

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.

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.

Very responsive when needed via email and/or phone. Thank you.

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.

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.

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.