Newtek Customer Reviews
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Recent User Reviews
Go elsewhere. If nothing goes wrong, they may be fine, but we have no idea what that feels like. Since the first month we used their card processing services, we have been charged fees 7 times that we should never have incurred. Each time you have to call them, wait on hold, give them information about your situation they should already have, convince them they made the mistake, often be transferred to someone else and wait on hold again, and after an hour of your wasted time they give you a “solution” that will ultimately result in another fee because they never in-fact resolved the first problem. Their system is a mess, they aren’t organized and you pay the price with little to no apology or compensation. I have wasted hours and hours of time I did not have because this company isn’t run well. When you call to finally cancel, you have to wait on hold for 15minutes just to speak with someone. I wish so very much I had gone with another company when starting my business!
I have a small nonprofit. They told me that thier POS machine was free. They decided to do an annual fee a year later, and I wanted to cancel services. Well the fee was already charged. My nonprofit is struggling and the money would have done a lot of good. It took over 5 hours on the phone over 3 weeks just to cancel services. Then they told me I could not get a refund. It took another 3 weeks of fighting to get a supervisor to say yes. It’s been a month and still no refund.
Barry Sloane the CEO of Newtek is a liar, backstabber, thief, and psychopath.
DECEPTION by CRIMINALS
Newtek Company Overview
Newtek offers financial and business services targeted at small and mid-sized businesses. Its services include payment processing, payroll management, business lending, insurance, and web solutions. In the payment space, Newtek provides credit card processing, point-of-sale systems, e-commerce gateways, and mobile payment tools. It also offers merchant cash advances and financing for equipment purchases. For payroll, Newtek supports direct deposit, tax filing, and HR solutions. The company operates as a non-bank lender and has been active in SBA lending. Newtek positions itself as a one-stop provider, allowing businesses to access multiple services under one brand. In 2023, Newtek transitioned to a financial holding company with a national bank subsidiary. Service quality and contract terms can vary by product, and customer feedback often depends on which of Newtek’s services are used.