Medallion Bank
Reviews and Complaints

Medallion bank/sst are rip off artists with their daily interest charges.over 300.00 of my payment went to interest while 78 went to principal.i have had this loan over 5 years.always made payments.was promised a lower interest.never received paperwork.i am ready to buy a new camper(using standard aprs.instead of daily interest,then telling medallion to come get this camper.i hate this rip off bank.they will try b*** you into believing this is great banking practices. If it was so good for the consumer,everyone,credit cards etc.would be charging interest daily.BUYER BEWARE OF DAILY INTEREST LOANS!

We have been current on our loan for years and are to date. Medallion has over charged and made a killing in interest off of us for years, but as soon as you call to try to make arrangements for a lower % rate or payment, forget it! I called Medallion to discuss issues with loan payments and the call was escaped to Hunter G who is supposed to deal with hardships/COVID related issues with loans. He apparently was not provided with customer service training or has no consideration for what is happening in the country. I would recommend finding a bank with real people that want to listen to your circumstances and work with you to find a solution.

I am emailing you as a previous customer who has recieved a loan and paid off the loan and wanted to give you my personal opinion about your company. Let me start by saying You guys *** I would never recommend you guys even in a million years. You have the highest rates out there along with the fact the worst service. You didn't help me thru Covid and honestly I thought about not paying for the car and let you f*** take it. But I'm better then the and I paid it off cause you were charging a arm and a leg. So from personal experience I've had the worst experience with you guys and I would honestly never recommend you and I will be publishing my review publicly Also so the world knows.

They don't have access to old statements on their website. They only show a "current statement" available. It has been two months behind for a few months now. The statement is mailed out more than a week after the "statement date". Nowhere on their website can you find any information about how much of your payment is going to interest. Even the "current statement" does not show the interest paid. The interest paid is available only on the paper statement, but if you lose that you no longer have access to that information. Frankly their website looks put together by high school students as a class project. These may seem like trivial items, but it makes managing the account a pain. I'm looking to refinance with a company that takes these things more seriously.

ComplaintsBoard.com you need Zeros on this review. Madallion Bank is charging bogus charges on my account stating that they did not know where the property was that they financed and said they needed to send out an investigator to find it and they had to charge the account $75.00 because THEY wanted to know where the property was. So when I make a payment they take the payments and put it toward their bogus charge and not toward my payment on the loan then calling me and asking why am I late on a payment I made a payment on the 7th and the 21st. Then they say that I was sending in bounce check and I have never made any payments to this sorry company in check form it has always been with a debit card. SAME AS CASH. this COMPANY SUXXS. ComplaintsBoard.com help me get away from this corrupt company.

I'd give no stars if that a possible, MEDALLION BANK IS A TOTAL RIP-OFF! When my husband passed away, I kept making the payments to find out my whole payment of $353 mo went towards interest, none towards principal. I've paid on it for 5 years, and only $2,000 went towards principal. It was suppose to be paid off in two more years according to the contract but that will never happen. I called for a lower interest rate but they refused saying they don't refinance. They suggested I try to sell it and submit an offer to them. I did that and they have refused three offers even tho the offers were well above the NADA blue book value. The last offer they refused was $1,800 under what I owe them. There must be some kind of consumer law protecting us from this type of loan company. DON'T EVER GET A LOAN THROUGH THEM THEY LIE AND ARE TOTALLY OUT THERE TRYING TO GET YOU

This company does not deserve a 1 star review! There was an payment error some where in August. I have a 4 year loan with Medallion Bank and a perfect payment history with them for 3 years so far even though I was unemployed for 4 months last year due to Covid, I still made my payments. They reported to the 3 credit agencies that I was 30 days late in August , I sent dozens of unanswered emails trying to resolve this issue. I finally filed a dispute with the credit agencies and not only did Medallion Bank refuse to correct the and remove the late payment, they decided to be vindictive and report false information to the credit agencies and further trash my credit score! In November I had a balance of $1,000 and Medallion Bank changed the balance and increased it to a false amount of $12,000! Are you kidding me? That increase made my credit score take a nose dive! In a January they did change the 30 day late on my credit report, yep, they changed it to 60 days late! And you guessed it, my score went even lower! I don't know how a Bank can get away with reporting false information, ruining my credit and getting away with it! Although they corrected the balance my score has not improved, the damage is already done! This account is current, I have no idea what happened in August but I have an excellent payment history except for this 1 error. The bank needs to remove the late payment from August so my credit can heal itself!

0 STARS. NONE. I've made repeated attempts for a manager to contact me, and discuss the situation with me. NO ONE HAS RETURNED MY CALL! Week 1, I initiated a HALF payment to my account. The following Monday, we noticed that a FULL and a HALF payment were withdrawn, a total of 300% of the amount that was authorized. This resulted in several overdraft fees from my bank. That same Monday, I submitted a dispute and request for refund and recovery of the excess amount that was NOT authorized as well as the initial overdraft fees. That following Friday, I called to initiate the remaining HALF payment, bringing everything to be complete for the month. Also on that Friday, the unauthorized funds and requested overdraft fees were FINALLY returned. The representative on the phone indicated I would incur a RETURNED CHECK FEE?!?!?! ARE YOU KIDDING ME? Medallion Bank was not authorized to pull the funds in the first place, and I wanted my money back. Simple as that. Medallion Bank was instructed to return the money that they took WITHOUT my authorization. That does not constitute a returned check fee. Now I have received an email as a confirmation that a fee will in fact be charged against me. I have also reviewed my account, and the summary indicates the remaining HALF balance that was instructed for debit on the Friday indicated above is still owed by me to Medallion Bank. My bank statement confirms the remaining amount has been debited from my account. Why does the summary still indicate it is left unpaid? BORROWER BEWARE. This bank does not care about you.

I have a hard inquiry on my credit report from medallion bank when I haven't applied for any credit loan with a hard inquiry and my credit report is saying this is a high risk inquiry

this company has been 'paid in full' and yet they refuse to report it to all credit bureaus. it has been 2 months now since we paid them off. they are showing a balance of $10,000 on credit reports. it is hurting our credit scores and we are trying to buy a house. they won't even contact me.

Medallion bank claims to have made a loan to me ( now totaling about $8300 for purchase of some kind of heavy equipment) BUT I clearly established with its representative when he called me that , despite his having my Soc Sec number and same name as their borrower in Atlanta that I never lived there and had no relationship with Medallion Bank whatsoever. I recently received data from the bank showing a note a;llegedlyt signed by me with my name in entirely different handwriting than mine.

I volunteered surrender my trailer due to my husband's passing. I was told I would be notified before reposition of the trailer. I came home and the trailer was gone. I them was told it would be sold at private sale. They put the negative balance on my credit report but the account is not closed so I can not offer away off or set up payment plan. The repossession took place in June . This is februaury 2021 and nobody can settle this matter. I called twice and still they have no idea when it I going to be settled in the mean time the negative credit is hurting my credit.

I have trailer financing with them.When I go online to make payments tells me I am current. Just has a person bring letter to my home to call them So I did made payments.. They are reporting this to my wife credit as a charge off every month even though we have property and making monthly payments..it doesn't show in my credit as I am main account holder..we have asked for over a year to have supervisor call us they haven't as of 7/21... Every month they hit my wife credit of a charge off .. Talked to customer service they day don't know why as we are current but Mediallion refuses to change her credit status with them...pat 4 months it's lowered her credit 70 points...

I bought a trailer through medallion and only got a loan for like $3100.00. I started making larger payments so it would reduce my loan amount. Come to find out when I try and pay off my loan it only went down a couple hundred dollars. I called in to see what is going on and they said you pay your interest first. This is a load of crap. Never had a loan where you couldn't pay down the principle. I also called in to ask them to change my bank account info because the online portal was not working. They said they changed it. Come to find out they did not and got a NSF fee because that bank is closed. This happened 2 more times. They said they would change it and it never got changed.

I lost 40 % of my income due to COVID-19. I tried to make my payment and had to use my stimulus to get current. Payment was due 2/28. Notice to repossess was dated 4/9 with a respond by 4/27. REALLY did you read I lost 40% of my income. I made the payment on 4/15 the day of the stimulus check arrival. I could have used it for something else but I did not. I gave it to them. They have also reported over 30 days late on my credit report and that took 10 points off the score. This is the first company I have spoken with that has no idea about what is going on in the USA now. I am fortunate enough to still have a job now. If you want to repossess it come get it. I don't want to have anything to do with companies that operate like this.

Our loan originated in 2017 and all payments were on time until COVID and then my husband was off work for 5 months. We kept in touch the them about our situation. On 4/2 we spoke with someone about trying to sell the trailer and they stated they would normally settle account for 80% of the payoff. We found a buyer and on 4/19 offered them 82%(25,000) to settle the account. Retail value of the trailer is 23,350. They said they would only settle for 26,250 which is 87%. We explained no one will pay that much over retail value. Asked why they stated 80% previously and got no answer. They would rather reposes and wholesale and send us to collections. We have already paid them over 20,000 since having the loan and settling for 25,000 would give them 45,000 total. Since we are having to file a complaint to try and resolve this, we will now lose the buyer.

I purchased an RV and financed it through Medallion Bank. The due date is the 16th of every month which falls a few days before I get paid. I have to pay it a few days late (no more than 4 late every month). I tried correcting this with Medallion Bank but they did not want to change the payment date. Now every time I am 1 or more days late my phone starts ringing off the wall from them. I have not missed one payment and have had the RV for over 2 years. I have REPEATEDLY told them I do not wish to be contacted by phone and they continually ignore me. I am being harassed over a payment that is not 10 days past due. Yes, the contract says I have 10 days before a late penalty is assessed. Every time I make an online payment I click, NO, I do not want to be contacted by phone, AND YET, they call me anyway. I have a job and a son in the military. My phone is answered during work hours only if it may be a call from my Son or an emergency.

On June 6 we went to pick up our travel trailer from storage and realized it was stolen. Sitting in the parking lot of the storage I called Medallion Bank and filed an insurance claim. We also filed a police report following those two calls. Our trailer was never recovered. Insurance paid their portion in July and GAP insurance paid the "remainder" or what they thought was the remainder. Medallion Bank added interest/fees even after giving a pay off quote. Since then I have tried to reach out to Medallion Bank and get this resolved, I am not responsible for what they did not send to GAP. The reason for GAP is in case insurance does not pay the remaining loan. I receive 3-4 calls a day and have yet to have anything completed. I have been waiting on a manager to call me for months. No one at Medallion Bank can tell me why there is a remaining balance or where it came from, I'm assuming fees after the stolen date. It has now negatively affected my credit.

I have a loan through Medallion Bank. They have our banking information and chose the 29th of the month for payment date. Payment is automatically debited. February only had 28 days this year. Medallion Bank sent a text that no payment was received. I called and spoke to a representative who said my account was in good standing and since there was no 29th of February, my account would be debited on the first of March. Fine. I thought things were taken care of, but have received texts monthly regarding 'no payment made' as well as 3 additional phone calls. I am sorry February only had 28 days, but that is out of my control. I spoke to a representative last month, and was assured this problem would be fixed. I told the representative they needed to get their IT department to fix this and I would consider any further communication from them as harrassment. I was assured this wouldn't happen again. I sent an email to Medallion Bank expressing my frustrations with them and said if it happened again, I would contact the ComplaintsBoard.com. It happened again today. Once again, the representative told me things would be taken care of. I have very little confidence in a respectful and satisfying outcome with this company.

I purchased a travel trailer from Medallion/SST and made my payments in a timely manner until a shoulder surgery set me back a few months. I contacted them and was told that my loan had been sent for collections. I informed the agent at that time that I was calling to pay all the late fees and get caught back up on my payments. She said that the amount to get caught up was $1,479.72 to which I immediately paid on 4/20. I assumed that this would take care of the situation since my payments became current and I also had automatic payments added so that I would no longer have to worry about the payment dates. The payments have been taken out of my account every month since June 9. Fast forward until I went to purchase a vehicle and the dealer stated that my credit report showed a Charge Off from Medallion on the said loan. It shows up on my report that this loan was closed and charged off as bad debt even though I caught up with all late payments and they continue to accept my payments every month. The payment status shows in collections/charge off on my credit report but the payment statements that I recieve from them shows current. I contacted Medallion and spoked with the credit department about this situation and was told "Good Luck" trying to have this removed. The agent said that the only way this would be able to be removed was to have approval from the "higher ups" and that she did not have a number to contact them. I asked if this was something that I needed to contact an attorney for and she said there was nothing she could do about it and that an attorney would not help. I tried calling them and speak with an agent to no avail. I would just like my credit report to reflect the accurate information and updated to reflect the actual payment status.

I started calling Medallion Bank in May to resolve issues that I discovered with the way my payments are being applied to my loan. I make payments that exceed what is due and request on every check that the additional amount is applied to the principal of the loan. Additionally, the payments made through the bill pay option through my bank are physical checks. I have requested the cancelled checks from my bank only to find that Medallion hold the checks for days before posting to obtain more interest accrual on the account. I called Medallion bank on May 4 @ 10:56am - spoke with Heather and started asking questions about the posting of my payments. She was very rude, so I elevated my complaint to the next level and requested to speak with a manager. I was assured I would receive a call back - to no avail. I called again 5/11 @ 1:56pm, spoke with Kylie. Had to request again to speak with a manager. I finally received a call from Leslie on 5/13 @ 12pm. I requested proof of when my payments were received and when they were posted. She explained to me that she would need to speak with a different department and get back with me. At this time I reached out to my bank to receive cancelled checks of the payments made. She called me back 5/14 @ 3:30pm, she was only able to tell me that the department that received the payments would post them as soon as they were received, there was no proof given to me at that time. I was supposed to go off her word. I requested to speak with her manager as I do not trust that this was actually happening and wanted proof in black and white as this I've learned this is a very untrustworthy company at best. The name of her supervisor is Jeff Y, and as of today, after several requests to speak with him. I have NEVER received a call from him. I called again on 6/2 @ 8:20am and requested again to speak with Jeff Y, I spoke with Debra M this time. I requested an itemized statement of account and an amortization schedule from her. I was hung up on, and I never received a copy of the statement of account, an amortization schedule, nor a return call from Jeff Y as I requested. I finally called Medallion Bank again on 9/17 @ 1:10pm and requested a statement of account again. I explained that I am looking for a detailed break out of how my payment is being applied to the account, as I suspect they are not applying my additional payment towards principal only as I have requested on my last 11 payments. 9/21 I received an email from Martha M. The email did not contain any description or who this person was, nor a professional signature as I would expect from a reputable company. It contained a simple attachment of a list of transactions for my account. There is no detail of how my payments are broken down and does not prove that the are posting my additional payments to the principal as I request every month. I replied to Ms. M on 9/21 and have yet to receive the detailed information I have requested multiple times. The final straw in this debacle with Medallion Bank is that my most recent payment was received by them, and it still has not posted to my loan. I am tired of the huge lack of customer service from this company, and I am tired of not receiving the information that I have requested several times to no avail. I am tired of not receiving return calls from management, and quite frankly I am suspecting that my payment is not being posted the way it should be.