Greenwood- Modern Finance for the Culture Reviews 

Someone hacked my account, and Greenwood would not refund the amount. I contacted Greenwood while the hack was still pending, and I was told they could not do anything until it was out of pending. They allowed my money to be stolen. I have called over ten times trying to speak with a supervisor to no avail.

Greenwood appears to be run by criminals.

Greenwood has been a great experience for me. I received not just a plastic card but a metal card. Set up my account and app loaded my first deposit and it has been seamless. I have contacted customer service a few times and they were very pleasant and helped me right away.

I tried to bank black and joined the service. Soon as I got the card, everytime I went to use it. It always says declined wrong pin, I would go in the app before I shopped and set the pin and it still said the same thing. It's embarrassing, you know you have money but you can't use it.

If i could give this bank 0 stars i would. My wallet was stolen and funds were stolen from my Wells Fargo and greenwood accounts. Wells Fargo credited me for the fraud in 3 days time no problem. Thu sorry excuse for a bank refused my claim. For what reason you ask i don't know they couldn't give me a legit reason or a reason at all. They claim to have done an investigation but they couldn't have. How does one reputable bank understand the process of crediting their customers account when a valid fraud case has happened and you guys don't. No request for a police report, cameras footage at the place of business that i gave you info to and oh the 10 suspicious transactions from the same 711 on the same day when i rarely if ever make a transaction from this account. Terrible would be to light to describe the customer service at this bank. I cant even get a reply to an email let alone get someone on the phone. I joined this bank due to it being supposedly black owned and i have to say you guys are a huge disappointment and i regret ever signing up to support the way you handle customers and do business here from my experience is poor and you should be ashamed of yourselves for having so many customer issues. All i want is the money that was stolen from me credited back to my account and your refusal to do so with no explanation why and no investigation done is gross negligence on you guys' part. I will never recommend this bank to anyone

found out if you have problems with your Greenwood account, you can complain to the Consumer Financial Protection Bureau. They may get your problem fixed asap. google CFPB complaint

Well as of today This bank has many Dba one being sable I attached this account too my credit union for over 30 years it took over 10 days for it too get approve that was six months ago my name and account number matched then and still does been doing external transactions since June 2022 please tell me why today my name doesn’t match? Then on my other account I paid a bill it’s says Dba Hope National Bank who is that ? Then I put my card on another bill it’s saying saying Dba coastal community bank so who are ya Greenwood Bank or those other banks but the nerve telling me I need too tell you who the flipping I’m when I have turned in the correct documents don’t worry my bank manager will be calling again since the manager seem too never be in the building house tent or whatever ya are located and whatever name your using today oops I left out that I also changed my email and phone number and who calls from a bank private my bank number always comes up who calling me red flag but don’t worry calling the FDIC on whatever name your using I will give all three !

I joined in early 2022. I wanted to support black business. The issue is that the black business ISN'T supporting its customers as well as it should be. I've read the reviews and realize it's NOT just me.

I made me initial funds transfer when I first opened the account. As of Feb. 8, 2023 I have STILL NOT received an atm card or ANY correspondence from the establishment. Oddly enough, when I login to the app I see the card and all the relevant info. There's no way to reasonably contact anyone to get CREDIBLE information.

It's unfortunate. I REALLY was rooting for this venture because it's definitely necessary. BUT, when all the bases aren't covered, someone is going to lose. Right now, it looks like that's Greenwood's customers. Needless to say I transferred my funds back to my primary bank months ago and unlinked the account from the Greenwood platform.

I am disappointed with Greenwood that my account has been locked for two months I called. They told me I was a security issue and I had to wait for email or someone higher up to call me back and yet I have still to hear from anyone I’ve sent two emails in January that neither were responded to. I called today to close my account The representative I talk to today told me no one has even checked my emails or tagged a supervisor to reach out to me about my account. I close my account. I was really happy to use Greenwood because it was supposed to be a black owned bank, but I have never been this disappointed with a service I received from the bank. I tried to transfer the money that I have in Greenwood out of there to another bank account and it won’t let me transfer my funds but I can add money to it with no problem to account that is locked. I don’t understand that.

Man, I'm disappointed that this bank isn't working out for me. You can't access your account online at all, you can only use their app. But their app doesn't work. Google Play tells me there's a "known bug" and that's why it won't open. So I can't see my account, move any money, pay anything, stop any recurring transfers etc. AND, the only ATM map they publish is within the app! I can't even find an ATM to get my money out. There is no place online to close an account either. If this is your backup or savings account, maybe you'd be okay using them. But if you need access to your money like a regular checking account, consider this your red flag. It would be one star except that it is Black and Latino-owned, so they get another star for equity

This bank is a scam! They have 65.00 of my money and they have blocked my card. You can add money all day but they won't let you withdraw money. I have called and they had some unprofessional person take my complaints and I haven't heard anything. I have started filing complaints with everyone about this bank stealing money! Don't open an account with these crooks don't do it! What they are doing is illegal and I won't let this go! It's not about the amount of money it's about them stealing from people!

TL;DR - !DON'T DO IT - because if there's one thing none of us want somebody to do, it's play with our money. If my money is funny, I'm not laughing. This institution practices false advertising, is in a beta phase with bugs that go unaddressed with updates, is more concerned about appearance than service, and is NOT A BANK. Run as fast as you can in the opposite direction. Do not pass GO, Do not collect $200 - GET OUT.
***

This year's Black History Month theme is Black Resistance. I can't *stand* the fact that I have the following to share with you all...

Terrible. This is the absolute*worst* experience I've ever had with any financial institution. I would say bank, but this is not a bank.

Just look at this quote from their twitter account:

"Greenwood is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC."

I won't deep dive into exactly what this means - but it does mean A LOT of false advertising & loopholes for accountability to the consumer.

My experience may echo many other hopeful, Black Americans simply looking to support a seemingly Black-owned business of merit. I got excited by who was backing the business, wanted to be apart of the 'buppy' wave, and took a plunge with Greenwood.

Greenwood is a mobile phone-based application. You can connect bank accounts & debit cards to move your money within your account (e.g. checking/savings) or to move it to an external account (e.g Chase Bank). This is currently *the only way* that you can SEND money using a free greenwood account (this is pivotal to my rated experience).

My experience with Greenwood began without much to say. I got my card, started *adding* money to my checking account (there are a variety of ways to do this) - even set up direct deposit for one of my monthly sources of income.
This was my mistake.

You see, not only is Greenwood NOT a bank, they're also a poorly-tested technology operation, filled with developer bugs that never quite get worked out - like app crashing, broken buttons, and faulty sign-in recognition. Not once, not twice. Nearly every week.

To add to this - their customer service is deplorable. I understand that these agents are more than likely not being paid a living wage, and thus, have one if not several other jobs to support themselves. I also understand that people are people, not machines, and sometimes - wires get crossed, information gets notated incorrectly, things take several business days to resolve.

But it's beyond, y'all.

I'm talking, repeat calls to following-up about previously noted problems and getting completely different information about the exact same issue.

People flatly telling me: "They told you the wrong information, that's not correct" - on numerous occasions.

I asked one agent if she could walk me through the process of SENDING money via my Greenwood checking to a Wells Fargo debit card - she was adamant that this was an option - (my issue was having no access to my greenwood card numbers in-app/in physical)...do you know what she opened up her mouth to say?

"No, I can't do that. I've never used the app. I don't know how it works."

I wish I had counted the times I called, calmly, with respect and patience - just trying to get someone to help me get a new card issued - and the conversation ended with "I don't know what to tell you" - "I can't transfer you to a supervisor or anyone else for further assistance, no one is available"- or even (and this is wild) "I don't know".

I've worked in customer service for about 7 years, the number one rule? Of course, the customer is always right. But truly - never admit that you don't have the capacity to assist. That's a direct set-up for customer distrust and, ultimately, attrition.

I'm currently in the extremely frustrating space of having to piecemeal my earned monies OUT of greenwood to one of my FDICs (a four-figure amount in total that I'm only able to move $150 per transaction - because that's their cap right now - HA!)

All in All - I have been traumatized by this short-lived yet painful experience with Greenwood. Its been just 4 months and I'm counting the days until I can get my funds out and RUN.

!DON'T DO IT - because if there's one thing none of us want somebody to do, it's play with our money. If my money is funny, I'm not laughing.

If I can give this bank 0 Stars I would. I left Chase to support this black business only to be bamboozled. I had this account/debit for less than 2 months. I had 444 bucks taken from my account. I found out because I looked through my transactions and that's how I found out. I was never personally alerted. On top of fraud on my account they thought it was fair to charge me for a replacement card. I called customer service on 5 occasions. They told me they can do nothing unless the transactions post. The following morning I check my balance and notice AGAIN that it was lower. My card has been used in Hong Kong 4x!! Once again I was never alerted and I been again charged for an expedited card but this time 20 bucks for expedited card that I did not authorize. Why am I being charged fees when clearly my account has been compromised is insulting! I spoke to one rep and she is the only rep with sense that I have spoken to who reversed the 20 dollar fee. Her name is Alicia. I am beyond angry with this bank at how poorly they handle and "protect" peoples accounts. My friend reccomend me this bank and I wish I never joined. And even when they claim they will fix your account they don't really help. I'm still waiting on them to give me my damn money back smh.WHY The hell it take 90 days to investigate I don't understand. I banked with other banks and it never took that long!!!!!! Don't ever join this bank. It's a scam

I'm giving Greenwood some grace. Yes, their customer service is slow when it comes to answering the phone and responding to emails. I've had similar issues with my funds being available within (what I thought) a timely manner. I have not cut them off completely but I don't have all my funds going there just yet either. I still want to believe that Greenwood will be the bank it says it will be.

This bank is a complete scam like everyone says last weekend I had an issue with deposit OK this weekend on the January 5 I received a notification that a new card has been ordered. I called twice I can’t get a solid answer onto why I called again today, Saturday January 7 to understand why again the rep told me tell me no card has been ordered I am not sure why it say that. I don’t know why it’s showing that your cad has been canceled due to a irregular activities and I have talk to three people and this the first I have heard this . He read the translation out to me and their normal spending stuff Grocery Gas etc
My card was canceled or cut off with no warning no nothing so no it’s weekend cant access money can’t pay bills can’t get Gas they say I must wait two to three days for another department to contact me . I would give this company the most negative if negative rating .

Very bad customer service lost money no one to talk to plus can't plaid with my banks

The excitement of Greenwood Bank has worn off. As of 12/31/22, I've not received my SSDI deposit. I contacted Customer Service 12/30/22 3 times. First wait time: 16 minutes. Second wait time: 22 minutes. Third time was the charm. I FINALLY reached someone only to prove they were not helpful at all. Social Security has released payments for SSI and SSDI recipients. How do I know? I've spoken with several of my friends who receive either SSI or SSDI. There's no way of knowing how long it'll be before payroll or government checks will be deposited. Let's not talk about the app. It's not encrypted and that's a huge NO for me. I honestly expected better. Obviously, I was wrong. By the way, I'm definitely not a bot!

not worth the hype. i was excited to join and open an account. i love the concept, the aesthetic of the card is cool, direct deposit setup was a breeze, but that’s where the positive feedback ends.

it took three attempts for me to receive my initial bank card. i called and emailed over 6-8 weeks and was surprised that they only offered one shipment option (usps) even after i had waited over a month.

i noticed that i was charged two card replacement fees even though i never received my cards at all. i have been trying to get assistance with this for a week now, and they are unresponsive and of course there is no number to call for that type of support.

this bank seems good in theory, but they lack the customer service to really compete with real banks. too many kinks in the experience. not sure i will continue to fund this account.

OMG, where do I start. First off I waited on a wait list to get this card, thinking that by doing so I was gonna get all the bells and whistles. Once I finally got my card I got my check direct deposited with no issues. My first deposit went great I even had a negative balance written off(cool). My second deposit as of today 12/27/2022 I still have not gotten my deposit. No one will answer the phone, no one will answer my emails. This is so sad I have bills to pay and y’all out here playing with my money. DONT USE THEM AT ALL!!!! Whoever said they were good, got paid to say it.

The worst bank I ever dealt with use card for hotel pre authorization hold hasn’t seen my my since I checked out on the 4th of December it’s now the 22 please bank at your own risk

Absolutely pathetic experience all the way around. I was so excited to have a black bank to support, however, it's clear this is just a marketing tactic. Their customer service is awful as many of the people who answer or work in the call center are not well-informed. It took them over 3 months to ship a card and get it delivered to me, each time I called support to ask about the status of the card they were not able to provide a tracking number or any info regarding why the card had not arrived. On top of that, a supervisor was never on duty, and it took a month for me to hear from one. After failing to ship me the card over 5 times, the card finally arrived (a nice card I will admit that) however they then charged me 100 dollars for 4 card replacement fees. Fees to replace a card that never arrived. This is the worst experience with a financial institution i have ever had