Greenwood- Modern Finance for the Culture Reviews 

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.

Worst bank I've ever dealt with. Anytime I use cash app to send my son money they'll wait until Friday to lock my account then I gotta wait until Monday to get my money out that I worked my ass off for. This is the last damn time!!! As soon as it's unlocked I'm pulling all my money out and they won't get another dollar from me

They take personal information and the site does not let you update anything. The site have bare minimal information and then no way to delete or change information provided that was wrong. It just took it!

Ive had this account since they opened. I never had any issue except for the over active fraud lock down system. In which case you just respond to the text that the charge was legit and it immediately unlocks. The account also offers like 4% apy on the account which is unheard of. People love to complain for nothing. Its a new bank give it some time. Don't ruin something else for you because you're too inefficient at life you're operating your whole life from 1 account. An account that you knew was a start up to change the norm. Grow up and aquire some life skills.

Just horrible and misleading.

This company isn't backed by no black businesses they get all their funding from the top u.s banks which are thier partners. They use rappers and famous people to promote things like this ( BANKING FOR PEOPLE OF COLOR ) IS JUST NONSENSE the famous people promoting this just wants to make money that's it. This banking app doesn't do anything any other secure banking app does. They offer no perks for black people at all in short everyone this is just a opportunity for them to make money off people of color

If I could give a negative star, I would. This is the absolute WORST banking institution, especially being online. Calling into customer service is the most unproductive thing you can do in order to get a resolution. There is NEVER anything they can do to help your situation. I mean, like never. You have to go through entire too many different hurdles for you to get YOUR money or get it returned. I bet they didn't need to be track stars to take any money from my account. Let me save every single person reading this. If you have had absolutely ANY thought of joining this institution, DON'T DO IT!!! RUN.

I tried give them chance but get the kinks and bugs worked before you a pilot banking system. I'm at the store and my card declined very embarrassing it is 2025 you should your network up and running that shows me the lack system integrations that should put in place. I'm not happy this bank most likely will close my account

Of all online banks, this is by far the worst! How they exist is beyond me and how they are allowed to legally operate is also unbelievable! Honestly, if you guys want an online bank maybe you should try some place else and stop feeling sympathetic for the owners because of race. They profit off of you and if their service and product is substandard then you need to call them out on it!

I dropped my wallet in a busy place and it would up getting trampled a bit. I recovered my wallet but soon saw that my Greenwood debit card was damaged at the chip and it has a small crack in the card itself. So it was no longer working at all. No NFC and it was not swiping either.

I order a new card and pay the extra $20 to have it expedited to arrive in a shorter amount of time. The card was late, it was left on the step of my front porch on a windy day and it blew away. I have a security camera that recorded all of this. I called Greenwood to let them know what happened and I needed a new card. To their credit, they credited back the $20 and waived the $5 fee for a 2nd replacement. However that card never showed up. So after about 2 weeks of waiting for the 2nd replacement I finally called them again and I was told that I would get my card when their processor got around to it because they were still backlogged from 2 or 3 years ago when they could not get peoples cards out to them fast enough due to a lot of sign ups. Of course this was not an acceptable answer. I got the usual, you have a virtual card, you can add it to your mobile wallet, etc. But what I can't do with a virtual card is use an ATM or pay for things in places where a virtual card is not accepted or they don't have NFC or accept any type of wallet.

Also, their connections to Plaid so I could connect other financial institutions to my Greenwood account did not work either.

Finally I just closed my account with them and went back to another bank that I had but was not using. I wanted to give support for a black bank but it is just not up to par. Notice I did not say black owned, because this is not a standalone bank, black owned bank. It is black run and is an institution that is under the umbrella of another bank which is not black owned. The issue with this is the parent bank can sell Greenwood at anytime for just about any reason and then the customers fall into more issues as the parent banks do their handoff. I have been through that with 2 other banks I don't want to go through it again.

Do not use this "bank."

This bank is the worst bank please do not bank with them if you are banking with them leave now while you can they close my account for no reason they won’t release my money this bank is gonna get sued they only work with email they don’t email you back it’s just too much they get -5 stars

Horrible bank do not trust this bank with your money they have been holding my money since 9/26/2024 and I can’t feed my family nor get my kids meds or pay my bills ish is wack!! And all they keep doing is giveing me the run around.

I just wanted to support black banking and still do. It seems like this bank is for people needing their first bank account. Suggestion: I wish they would offer high yield savings accounts. I have not had any problems with them holding or keeping my funds. I don't know, maybe that has to do with direct deposits or something? I have deposited funds and retrieved funds. I have also transferred funds to other accounts. I have had no issues. My second complaint is they don't provide your account numbers within your account. When you sign on you cannot see your account number in full. Any other bank I have ever dealt with will should you your full account numbers. Suggestion: They need to implement this for both checking and savings. Even if you require a security code or password to be sure its us before you show us the full number that would be extremely beneficial for your customers. Instead of not providing it at all.

I highly suggest bringing an attorney with you before you sign anything with them. This company is the the worst.

This company is Trash!!!!! I Do Not Recommend this trash ass Bank for Anyone. They have been holding my deposit since 07/31/2024 from my employer the thing about it I have been bank with them for 2 years now same employer nothing has changed… so if you have something important to pay I advice you Not to Mess with this Bank… Customer Service is Trash!!!! English is Trash can not understand rep at all..

Would give zero stars if I could. They consistently lock your account and deny card transactions and you have to call to unlock it. They make you wait 24 hrs to access your own money. Customer service reps aren’t even 24 hrs. So you are just an out of luck. Seriously don’t waste your time. Countless problems . Tried to give black owned a chance. They should have done more prep before they decided to do this.

I had an account with them for about one week a couple of years ago. They continually bombard me with emails. I don't think there are any live people there. I must be dealing with a very dumb computer. The phone number they give does not work. Stay away from these clowns.

I just closed my account. The representatives are rude. The only plus to using this Bank was I received my direct deposit early. Capital one also has this option.

Wow! I am currently awaiting my new debit card that was supposed to be fedex to me. I can't access my money this weekend at all. I just had two scams happen to my account and I tried my best to give them a chance. I don't recommend this bank at all. One pro is that you get your direct deposit early.