Accountinfo.com has a rating of 1.0 star from 1 review, indicating that most customers are generally dissatisfied with their purchases.
Description of Complaint:
I had some work done in my house in October of 2021 and my contractor got me a loan from Medallion Bank at a rate of 7.49. I told him that I'd never paid such a high-interest rate on any loan or credit card. He told me that I can repay the bank anyhow I have to in order to avoid paying too much interest and that there is no pre-payment penalty. Last November I sent an extra payment of $******* and there was a fee of $ 200 which was deducted from the extra payment. For the past 2 months, last January and February I sent an extra $526 each time $160 was deducted from the extra payment. I have dealt with bank loans before I always understand that any extra payment towards the loan would be applied to the principal amount. I called the bank and I was told that there is a $5 daily fee towards both your monthly payment and the extra payment. This is an organized robbery. I spoke to a representative and I said to her that even if $5 dollars/day would apply, a month has 30-31 days how come I was charged $200 on the $*******? I posting this review so that people who are dealing with this bank may check their statements because you may be charged unnecessary fees
Is this your business?
Claim your listing for free to respond to reviews, update your profile and manage your listing.