Newtek Bank: most-reported complaints
Automated analysis of 184 public Trustpilot reviews published 2026-03-03 to 2026-09-22. TrustScore 4.5 from 453 total reviews — see the Trustpilot page. Quick answer: is Newtek Bank legit? Issues below reflect what reviewers reported, not findings of wrongdoing.
Reviewers most often report that customer support is unhelpful, accounting for 39% of the 18 identified complaints. Issues with the account or app and unreachable support each represent 28% of the complaints. Billing errors make up the remaining 11% of the reported issues. No specific trend can be established for these complaints due to the limited number of reviews.
Trustpilot lists this business as no longer collecting reviews. New reviews are not currently being gathered for its profile. See the Trustpilot page for the current status.
The company claimed its Trustpilot profile on 2025-02-04, uses Trustpilot’s paid features, and last replied to a negative review on 2026-09-21. We last checked this profile on 2026-09-24 and found 1 new review. These are facts Trustpilot publishes about the profile, as of our last harvest.
TrustScore over time
4.6 → 4.5 across 9 census measurements since 2026-08-17. Our own record, independent of Trustpilot’s display.
Reply behaviour over time
Solid: % of negative reviews replied to. Dashed: typical days to reply. Both as reported on this company’s Trustpilot profile, recorded whenever our census re-checked it and a figure had changed — the gaps between points are not equal: 2026-08-28 (86%, 8.7d) · 2026-08-31 (86%, 8.7d) · 2026-09-03 (96%, 9.0d) · 2026-09-06 (93%, 9.0d) · 2026-09-09 (96%, 8.7d) · 2026-09-12 (96%, 8.4d) · 2026-09-20 (93%, 8.4d) · 2026-09-24 (93%, 8.3d).
What their policy promises
complaint process: toll-free number or email
“Should you perceive that Newtek is failing to follow the above guidelines, please contact us at the toll-free number or email address provided above.”
Quoted verbatim from the company’s own published policy (source page); complaint counts are census classifications. As of 2026-09-17.
Policy-page monitoring
We monitor this company’s published policy page for changes. 1 change detected since we started watching on 2026-09-01:
- 2026-09-08: +5/-0 lines; added: Submit | Submit (snapshot)
Automated change detection on the company’s own published policy page — a record of when the page changed, not a judgement on what changed.
Review provenance: 25 company-invited reviews in the recent window average 4.76★, while 159 organic (uninvited) reviews average 4.55★.
60% of its 159 recent 5★ reviews came from accounts that had written only that one review when we captured it (the median across companies is about 39%). A high share is a reason to look closer, not evidence of fake reviews.
Sector benchmark: support unhelpful makes up 39% of this company’s complaints vs a 28% median across 169 ranked companies in its sector.
Review velocity: 339 of this company’s 453 Trustpilot reviews (75%) were written in the last 12 months.
Not enough reviews to establish a trend.
What are the most common complaints about Newtek Bank?
Support unhelpful
7 reports · 39% of complaints“I was not aware as never notified. The notice was on their message site.”
The company replied on 2026-09-08: “We appreciate you sharing your experience. We have reached out directly to assist further and appreciate the opportunity to address your concerns.”
Our classifier read this reply as a template response.
1 reader marked this review helpful on Trustpilot.
“Newtek's customer service, which is only slightly better than AI bots.”
The company replied on 2026-09-21: “Thank you for taking the time to share your thoughts with us. We appreciate hearing directly from our customers and regret that you did not have a more positive experience.”
Our classifier read this reply as a template response.
“their phone support are unfriendly and not helpful”
The company replied on 2026-09-02: “We appreciate you sharing your experience. We’re sorry the process and support did not meet your expectations, and we understand your frustration. We’d welcome the opportunity to address your…”
Our classifier read this reply as a template response.
Account/app problems
5 reports · 28% of complaints“After 52 minutes on the phone I finally gave up.”
The company replied on 2026-09-08: “We appreciate you sharing your experience and recognizing the support you received from our team. We have reached out directly to assist further and address your concerns.”
Our classifier read this reply as a template response.
1 reader marked this review helpful on Trustpilot.
“unilaterally terminated my personal relationship”
The company replied on 2026-07-10: “We take concerns like this seriously and understand the importance of clear, respectful communication. Decisions regarding customer relationships are made in accordance with applicable policies and…”
Our classifier read this reply as a deflection.
“still no transfer done so I still have no access to my matured money”
The company replied on 2026-04-02: “Thank you for your feedback. We’d welcome the opportunity to review your experience in more detail. Please contact our team directly to discuss your concerns.”
Our classifier read this reply as a template response.
Support unreachable
5 reports · 28% of complaints“After 52 minutes on the phone I finally gave up.”
The company replied on 2026-09-08: “We appreciate you sharing your experience and recognizing the support you received from our team. We have reached out directly to assist further and address your concerns.”
Our classifier read this reply as a template response.
1 reader marked this review helpful on Trustpilot.
“this is the second day I can't reach anyone from customer service”
The company replied on 2026-09-24: “We appreciate you bringing this to our attention and understand the importance of receiving timely support. Our Client Success professionals are available 24/7 by phone or live chat on our website,…”
Our classifier read this reply as a template response.
“I finally got frustrated with means of communication, therefore had to call, only to get the same runaround from them again.”
The company replied on 2026-07-22: “We understand and are sorry that this account structure may not work for your needs. Thank you for considering Newtek.”
Our classifier read this reply as a template response.
Billing errors
2 reports · 11% of complaints“I was not aware as never notified. The notice was on their message site.”
The company replied on 2026-09-08: “We appreciate you sharing your experience. We have reached out directly to assist further and appreciate the opportunity to address your concerns.”
Our classifier read this reply as a template response.
1 reader marked this review helpful on Trustpilot.
“Two business days later the banking site still shows I have an active CD with Newtek.”
The company replied on 2026-03-19: “Thank you for reaching out. A member of our team will be contacting you to assist further.”
Our classifier read this reply as a template response.
Other
2 reports · 11% of complaints“At the moment they still have my 500.00 I have left message and tried to call and no one answers”
The company replied on 2026-08-08: “We’re sorry this experience did not meet your expectations. Our team will be reaching out directly to review the matter and assist further.”
Our classifier read this reply as a template response.
“Before the account is ever opened they require the log-in credentials for my funding bank, which I refused.”
The company replied on 2026-09-11: “Thank you for reaching out. Certain requirements apply when opening and funding an account, and we understand that customers may have questions about those steps. We appreciate the opportunity to…”
Our classifier read this reply as a template response.
Method: reviews are classified into a fixed complaint taxonomy by an automated reader; every category shown is backed by at least two verbatim quotes from distinct reviews. Trends are computed from dated review counts only. Negative reviews are deliberately over-sampled for evidence depth; headline percentages use an unbiased recent sample only. Report updated 2026-09-24.