Complaints

This profile includes complaints for Medallion Bank's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

close

Find a Location

Medallion Bank has 2 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

BBB accredited

Near

Country

USUnited States

Please enter a valid location.

Filter

• 

  Medallion Bank

  1100 E 6600 S Ste 510 Salt Lake City, UT 84121-7422

  
• 

  Medallion Bank

  1100 E 6600 S Ste 510 Holladay Cottonwood, UT 84121-7422

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:02/20/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The website used for payments (***************) ***** so bad. It seems like I have a similar issue as many other complaints. All those complaints get is an automated response so I'll add one more. I have not entered any answers wrong for my security questions. As a matter of fact, they weren't even the questions I selected originally. It's has only been 20 days since I last accessed my account and it's already asking for a password reset when it's supposed to do it only every 90 days. Please get a new tech team for your payments site. They clearly can't do the job.

  Business Response

  Date: 03/03/2025

  We appreciate you taking our calls and we apologize for the inconvenience our website has presented. We are working with our IT team to identify the issues you've mentioned and provide a resolution. Please reach out to ***** ********, the agent who contacted you last week regarding this issue, if you have further issues.  

• Initial Complaint

  Date:01/15/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  **************** Every quarter, the account locks out and has to be reset, this time it's been 2 months in a row. No other institution requires a password reset every 90 days. Why has this not been fixed in over a year? Everytime I call employees are aware and send it upwards to management but nothing ever happens to get it fixed. Not only that, but I get a security warning every time I visit the site that it is unsafe. You guys are a 2 billion dollar organization but have online access equivalent to a small community bank or credit union. Whoever the IT leadership is should be fired, this is unacceptable. I bet you get 100's of calls each day about this issue. Please upgrade your online banking, get new IT leadership and stop requiring password resets, which lock the account, every 90 days. If I every finance another Brunswick product it will not be through Medallion bank if this is not fixed.

  Business Response

  Date: 01/24/2025

  We appreciate the feedback. To ensure the security of your account, we have implemented enhanced security measures. This includes, but is not limited to, a mandatory password change every 90 days. Should you need to reset your password before the 90-day period, it may be due to an incorrect password entry, necessitating an earlier change. If you encounter any difficulties while attempting to reset your password, please do not hesitate to contact our customer service line at 855-653-9231, where we will be pleased to assist you with the password reset process or with resetting your security questions. We apologize for any inconvenience this may cause, but our customer and account security is of utmost importance. 

• Initial Complaint

  Date:01/15/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Every month I log into this organization's web-site to make a payment. And each and every month I have to reset my account password. Each and every month for 2 years their system either does not allow me to reset the password, or won't allow me to login which results in the payments being late and fees being added - despite the fact that it is 100% solely the fault of their web-site.

  Business Response

  Date: 01/24/2025

  We appreciate the feedback. To ensure the security of your account, we have implemented enhanced security measures. This includes, but is not limited to, a mandatory password change every 90 days. Should you need to reset your password before the 90-day period, it may be due to an incorrect password entry, necessitating an earlier change. If you encounter any difficulties while attempting to reset your password, please do not hesitate to contact our customer service line at ###-###-####, where we will be pleased to assist you with the password reset process or with resetting your security questions. We apologize for any inconvenience this may cause, but our customer and account security is of utmost importance. 

• Initial Complaint

  Date:01/06/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Approximately last November 2023 I had a 30 day late payment which was then reported to credit bureaus erroneously at 60 and then 90 days late. I was unaware of it until this October. This was appearing on all three of my credit bureaus it took the bank, dragging their feet, almost 3 months to correct it, even though they were aware, and they were noncompliance and in violation of the FRCA this morning while speaking to a mortgage broker, he brought me my Trans Union credit report, which showed that I now have 430 day late payments in a row on my RV loan through Medallion Bank. This is incorrect. This is now going on 12 months with them reporting to credit bureaus the wrong information and they tell me it must be the credit bureau doing it, which is not true. I am attaching documentation of what it’s supposed to be and what it is now showing this month on TransUnion. They refused to fix it or even really speak to me about it. It’s unacceptable and it’s a violation of federal law.

  Business Response

  Date: 01/13/2025

  We appreciate the opportunity to review your account. We have attached a copy of your transaction history that shows the account has been delinquent on multiple occasions. We have confirmed that we have only reported accurate information to the credit bureaus. However, out of courtesy, we agreed to waive the late marks that were reported while you were working on getting a two-month extension processed from January to March 2024. As of November 22, 2024, the late marks were removed as promised. We have submitted a second AUD correction through EOscar to have them remove the late marks again. We are unable to determine why the credit bureaus revert your account delinquency status at the beginning of each month. Please contact our Credit Resolutions Department if you see the late marks from January, February, or March 2024 have reverted. They can be reached at 1-800-392-8308, Option 6. Please note that the late marks reporting from November 2023 and September 2024 are accurate and will not be removed along with any new late marks that may occur due to future account delinquency. To avoid future late marks please make your monthly payments on or prior to the next due date. 

  Customer Answer

  Date: 01/13/2025

   
  Complaint: ********
  
  I am rejecting this response because: 

  i’m rejecting the response because a I wasn’t delinquent because I have been given an extension therefore it is not delinquent, secondly, it was reported numerous times erroneously that way you’re not doing me a service you are correcting a record because if I am giving a deferment again I am not late. For almost a year it has been reported incorrectly from month to month and your answer is to blame the credit bureau, but it’s all three bureaus. I’ve also asked to speak to your compliance officer, and that has been refused at the end of the day. The FRCA covers these types of violation. They have civil penalties and when I can’t even get a call, returned and I can show how seriously I have been damaged by having to pay more interest on auto loans that I should’ve had to have paid because my credit was lower because of this incorrect reporting. If you wanted to make this right, you would just remove any and all late payments as a show of good faith. But your response is to somehow make it my fault I find that unacceptable and at the lowest base of customer service I have ever seen.
  
  Sincerely,
  
  ***** **********

• Initial Complaint

  Date:12/18/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This company will hound you for payment less then a week old calling you daily even after speaking with them. I have had 2 loans through them and can't wait to refinance 1 as the other has been paid off. They are the worst company to get a loan from and wouldn't recommend them for anything. All employees are non English speaking and ask you the same questions that you've already answered multiple times.

  Business Response

  Date: 12/23/2024

  We appreciate the opportunity to review the account. Our agents begin calling on an account when it becomes past due. This is done to notify borrowers of the account status and to help prevent late fees and credit marks from being assessed. We are happy to accommodate requests for fewer or no past due calls to be made. We have set your account to Do Not Call per your request in your desired resolution. You will no longer receive calls when the account is past due. 

• Initial Complaint

  Date:10/23/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My boat was damaged. I filed insurance claim with my insurance company. They sent out the check in July. I endorsed it and called for address to send for bank insurance department. I received an address, sent it, returned to me. This happened 2 more times. Finally got another address, and sent it with detailed instructions ($9,000+ check). They applied it as a payment. This took over a month. Then had to send money to repair shop, only sent money for parts ($5K). That took 16 days. Work was completed and shop needed the rest of the money, and it took over a week to mail the rest of the money. The process was altogether 4+ months. I made my payment every month, but had no boat because Medallion drug their feet, but they don't care because they made their money every month. Extremely dissatisfied customer. Also, as I type this the shop is still waiting for their check, and I'm still waiting to pick up my boat.

  Business Response

  Date: 11/04/2024

  We appreciate the opportunity to review your account. We were able to confirm that we received the insurance check and posted it to your account on September 4th. On September 12th we received the amount owed for parts. The check for the parts was sent on the 24th.Unfortunately, between September 24th and October 14th our attempts to contact the repair shop to get the final total for the remaining amount due were unsuccessful. On October 15th we were able to speak with the repair shop and obtained the information for the additional amount needed. The final check was overnighted to the repair shop on October 22nd and is showing that it was received October 23rd.
  We apologize for any inconvenience the delay in processing your insurance check as caused. After reviewing the account, we have determined that the main delay in processing the final payment was due to us being unable to get the information regarding the final amount owed from the shop. 

  Customer Answer

  Date: 11/04/2024

   
  Complaint: 22464186
  
  I am rejecting this response because: that was not the main delay. The main delay was the fact that I had to call you all about 15 times about this. June the claim was filed, early July I sent the check to you all. Then I received the wrong address from YOUR employees. It was returned twice. Then the check was deposited as a payment. I spoke with the repair shop, they sent the full quote numerous times. I want my payments forgiven until February, or I plan to have my loan refinanced by another company and being done with Medallion. There has been no personal responsibility taken, and I am very much not pleased. 
  
  Sincerely,
  
  ***** *****

  Business Response

  Date: 11/08/2024

  As stated in our prior response, we apologize for our part in the delay in processing your insurance check. However, according to the Simple Interest Consumer Note and Security Agreement, payments are required regardless of the condition of the collateral.
  We have reviewed call recordings associated with your account from May to now and did not find any evidence of an incorrect address being given to you. According to our records the first time you reached out regarding the insurance check was on July 25th, in which you asked us to provide a letter approving the release of the insurance check to you. Your request was denied, and you were instructed to send the check to us along with a copy of the invoice. This call was abruptly ended by you.  You called us a second time on the 25th requesting the same thing, on this call the process was fully outlined for you again. On August 15th ********* ***** called in and requested the address to send the check to and we received the check on September 4th.  We were unable to reissue the check due to not receiving the invoice from the shop until September 12th. The check for parts was sent out on the 24th. Due to the delay in the check being issued we will waive 15 days worth of interest on the account.  

• Initial Complaint

  Date:09/22/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Medallion bank gave me loan for camper on 02/2023 in may of 2024 I fell a month behind I called them to make arrangements and attempted to make payment. He tried 3 times but my bank refused claiming fraud protection Ive since been trying to contact them and I get recording attempt to collect debt and asks for account # and last 4 of social and when I do that it hangs up so now Im 5 months behind and still cant get ahold of a real person and even my insurance company called me and said the address they send my current insurance to is no longer valid. I dont wanna lose my camper but with the bank not letting me communicate with them Im waiting for a repo guy to come hook up

  Business Response

  Date: 09/23/2024

  We appreciate the opportunity to review your account. We have been actively trying to reach you since the account went delinquent and weve verified the number youve provided matches the number we have on file for you.The last time we spoke with you was July 10th. On this call you stated youd call us back to make a payment arrangement and we have not heard back from you. Please contact us to verify that the contact information we have for you is still correct and to make payment arrangements. We can be reached at ************. 

• Initial Complaint

  Date:08/09/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  DO NOT DO BUSINESS WITH THIS COMPANY!! Our account was refinanced, and a check was sent to Medallion and received (signed for) on 7/25/2024. They did not post the payment until 7/30/2024. I called on 8/06/2024 and was told that it was approved to be back dated on 8/03/2024 and to give them a few more days to get that processed. On 8/09/2024 it was still not completed leaving my balance $105.44. I called (still on hold at this time) and was just told that it was just approved on 8/06/2024?? No that is when I called last. Asked to speak to someone that could get this fixed right now. Currently still on hold 8/09/2024 @ 1:39EST 20 MINUTES. It seems to me, reading the other reviews, that they just do not like having accounts paid off!

  Business Response

  Date: 08/20/2024

  We apologize for the delay in backdating the payoff that was received July 25th. The payoff amount received was good through 7/22/2024, that is why a balance of $39.42 was still owing, we received your web payment of $39.80 on 8/13/2024, however we are refunding this to you and have completed a small balance write off for the $39.42 out of courtesy. Please let us know if you have not received this refund check within ************************************ full was mailed on August 15, 2024.

• Initial Complaint

  Date:07/09/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I sold my RV on June 26, 2024. USAA sent the payoff overnight by *****. The check was received and signed for by ************ June 27, 2024 at 10:50am. Today is July 9,2024 and it is still not posted on my account. I have called 12 times and spoke with different people and emailed 6 times with no resolution. I emailed the tracking information. Meanwhile they are adding $22 a day in interest on the balance. I am not paying a dime of interest past June 27. Nobody I have spoken to has a clue where the payoff check is. Do not use this company. I should have looked at their 1 star reviews all over the internet before financing with them. I want to be completely done with them!

  Business Response

  Date: 07/15/2024

  We appreciate your feedback and have been in contact with you to resolve this issue. After reviewing the account, we were able to determine that one of our agents gave you an incorrect mailing address. We have requested the check be cancelled and a new one be sent to the correct address below. Due to this mistake and delay, the Bank will reimburse any stop payment fee charged for a new check and we will be honoring the original payoff date of June 27th.  If there are additional issues or concerns that arise, please contact us at **********************. 
  
  Medallion Bank
  Lockbox #*****
  *********************************************************-5526

• Initial Complaint

  Date:05/03/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Erie Construction Mid-West sold us a roof for $34,289.00 with $2500 down payment. Balance remaining $31,789.00 on 12/29/21. After two years of payment to Medallion Bank we owe $30,203.97. How can that be legal? All of our money is going to Medallion Bank and we will never get this loan paid off.Erie Construction picked this bank and we did not know it. I have requested original loan paperwork from Medallion and Erie. They will not send it to me. Why? This is a scam from Erie and Medallion Bank.

  Business Response

  Date: 05/13/2024

  Hello ***** *****,
  We appreciate you bringing this matter to our attention so we can review and confirm your account.
  On or about December 29, 2021, you and ****** ***** applied to Medallion Bank (Bank) for a loan to finance the installation of a roof at your residence by Erie Construction Mid-West, of Atlanta, Georgia. The contractor was selected by you and is not affiliated or controlled by the Bank. The Bank approved the Credit Application for a loan in the amount of $31,789.00, term of 180 Months with a payment of $298.12 paid per month, first due approximately 3 months after the date of completion. By signing the Simple Interest Consumer Note and Security Agreement (Contract), the loan terms we accepted by ****** ***** and ***** *****, not Erie Construction Mid-West.
  The completion of the job was 1/31/2022 per the signed completion certificate, we disbursed funds to Erie Construction on 2/4/2022, the first payment was due 05/04/2022. Interest accrues on simple interest loans daily. When a payment is made it applies to first interest accrual then principal. By not receiving any kind of payment in the months listed below, interest accrual was greater than the monthly payment when it was made. Included with our response is an Amortization schedule, this provides more information on the negative impact of not making payments in a timely manner.  
  We have reviewed the transaction history and have noted that in the months listed below we did not receive any kind of payment.  Please review your bank history, if you locate something different, please notify us and provide proof of payment.
  February 2023
  March 2023
  August 2023
  February 2024
  March 2024
  April 2024