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M And T Bank Is Robbing You
Posted by CP1013 on 01/28/2010
BUFFALO, NEW YORK -- For the life of me I couldn't understand what was going wrong with my checking account. In my pledge to get my finances under control this year I called the bank to find out exactly what was going wrong. To my surprise I was told by a bank representative that the bank puts a 3 day hold on your account every time you swipe your check card. In some instances, they will take the money out, put it back into your account and then take it out again. All depending on the merchant. Also, did you know that the bank will no longer decline your card if you don't have money in your account. "We do this as a courtesy to you" I was told by the bank representative A COURTESY???? Not to me.....it's a courtesy to the bank because they hit you with a $37.00 fee for insufficient funds. Was I asked that I wanted this? NO! I never agreed that it's OK for this COURTESY and I don't mind paying you $37.00 each time. Decline my friggin card. That's my choice. It's my money not yours.

M&T charged me $37.00 for being overdrawn by $2.00 then again for $.84..... Seriously?!??! How is that justified. And forget about trying to get that reversed....where is the room for human error? I was told to ditch the bank and go to a credit union where they will not charge you any fees.

Needless to say, I am reporting the bank to the Federal Reserve (not that reporting one thief to the next will do anything but you have to try).
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Posted by Anonymous on 2010-01-28:
I don't know if M and T offers this, but there's is an option that you can set a threshold for your account. And once your checking account goes below this threshold, you can opt out to have your transactions denied if you don't have the sufficient funds in your account to cover the transactions. Though, it may or may not catch everything and you can still wind up with an overdraft fee.

"Also, did you know that the bank will no longer decline your card if you don't have money in your account."

This not something new. It's been happening, for at least, 10 years or so.

This "hold" on your money... not all transactions come out at the same time. Everything is done in batches. If you use your card as debit card (you punch your pin code in), transactions should post the next business day. If you use your debit card like a credit card (you don't punch your pin code in), it takes up to 6 days to post and doesn't always show up as pending online.

"I was told to ditch the bank and go to a credit union where they will not charge you any fees."

You are misinformed. Credit Unions still charge overdraft fees if you spend more money than what's in your account.

A good way to keep your accounts on track, is to keep records of your spending. All it takes is that one check you forget about or that one purchase, to send you on a spiral of no return in overdraft fees. Whether it be a check register, keeping your receipts and doing Quicken or using your brain as your calculator... whatever.

Gone are the days of denied transactions and floating checks.

Posted by yoke on 2010-01-28:
Every time you swipe your card you should deduct the amount from your checking account. If you do that you will not get any fee's. I wish the banks would decline people's debit cards if the funds are not there, but then we would get them on here complaining that they were declined and they were only 1.00 short.
BTW, Credit Unions do charge you if you do not have the funds to cover what you spend. CU's also will close down your account faster if you continue to have NSF's.
Posted by Anonymous on 2010-01-28:
The banks call it a "courtesy" or a "service" or anything else other than what it is which is a loan in order to skirt the Truth in Lending disclosure requirements so says Bill Strunk the man who came up with the idea of letting customers overdraft their account for a fee. It's all legal chicanery.
Posted by Inat on 2010-01-28:
didnt some high schools begin teaching basic finance? Sounds like it needs to be a requirement for graduating HS. Tell kids how banks work. Tell kids that banks dont keep track of you money for you, they just hold it and distribute it for you. Tell the kids that it is their responsibility to know how much money is in their account, not the banks. I'm shocked at the number of people who do not seem to know how to work a bank account
Posted by Anonymous on 2010-01-28:
It's not just up to the school's to teach kids about finances, but there's parents as well. That's how my education on finances and bank accounts was instilled into me.
Posted by Inat on 2010-01-28:
well, parents are not always the best ones to teach their kids about finances (socia-economic status and habits are learned traits). My mom taught me what NOT to do - if i took her advice I'd be in trouble b/c she was pro at floating checks - cant do that anymroe :)
Posted by Anonymous on 2010-01-28:
I'm just saying, "there's also parents."
But, I know many parents out there that can't balance their checkbook worth a darn either.
Posted by Inat on 2010-01-28:
oh i know what you meant - anyway, if i didnt need bill pay, online banking, etc I wouldnt even use a bank. jsut pay cash for stuff - and pay your utilities at Kroger...
Posted by skelly39 on 2010-01-28:
"That's my choice. It's my money not yours."
If you made the choice to overdraft your account, then it's not really your choice if you get a fee, because it's not really your money they are using.
I wholeheartedly agree that the fees are insane and the banks will use every tactic to take as much money from you as they can. But if you make the right choices, you won't have to deal with fees. If you choose to borrow money from them, then be prepared to pay through the nose.
Posted by Anonymous on 2010-01-28:
"All depending on the merchant." Then why are you blaming the bank? Do you understand how the merchant works? I don't think you do. When you swipe your card, the banks puts a hold on the amount submitted electronically by the merchant at that time. The merchant then submits the actual charge to the bank for payment. Auths are only applied for a certain number of days. if the merchant does not submit the charge before the auth drops, the funds are placed back in your account until the charge comes through. THIS prevents an overcharge.

"Also, did you know that the bank will no longer decline your card if you don't have money in your account" This is a courtesy by the bank. If you keep a register you will always know how much money you have. Back in the day when people spent more than they had (writing checks) they went to jail for check fraud. How about the banks go back to that?
Posted by Slimjim on 2010-01-28:
Save yourself the bother of your report to the Federal Reserves. As much as Obama is slamming the big bad banks in a postured attempt to get some public support back, there is nothing illegal about charging you an overdraft fee if you, in fact, overdraft your account.
Also as said, credit unions charge overdraft fees too. I don't know where that misnomer keeps coming from.
Posted by Anonymous on 2010-01-28:
Not from the credit unions Jim, they are getting their share of the overdraft pie
Posted by Slimjim on 2010-01-28:
Got that right Ken.
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Posted by ComputerSage on 10/02/2009

I was happy with Provident Bank. I was never charged an ovedraft fee by provident bank. Provident was sold to the loan shark bank M and T. I have direct deposit, and every week I am getting slammed with "overdraft: fees for this month only I have $ 570 in ovedraft fees alone!.I deposit checks and then a partial amount is put on hold and a partial amount is made available in the "available" balance. UNlike other bank the held amount is not disclosed in online banking and neither are you told when it will be available. Different bank employees are not on the same page regarding procedures and policies. Most of the employess are rude and condesceding and treat people as if the shoulsd not be asking questions about their own bank accounts. We have a business and wanted to open a business account but we will take our business to Suntrust. There is something very sorry about the backend transactions they are performing to cause account to overdraw. I am also at a loss at how a transaction whose payment was swiped on the check card several weeks before, gets debited last that one I did last week whose amount was larger. The larger more recent transaction get processed first so that all the other smaller item wil overdrwa the acount an dthen get assesssed late fees. This is suppossed to be a free checking with direct deposit. They have it to a science since they know how much comes in every direct deposit. This bank is robbing customers and should be prosecuted .
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Posted by MSCANTBEWRONG on 2009-10-02:
Don't spend more than you have and you will avoid any type of OD fees..regardless of the order of your transactions if you spend more than you have you give the bank the opportunity to charge you tons of fees...
Posted by MaggieMcT on 2009-10-02:
The terms of your account have to tell you about holds and availability of deposits. If you don't have a copy, you need to get one asap.
Posted by Anonymous on 2009-10-02:
The Funds Availability policy is posted in every branch, and they will hand you a copy if you ask, or you could look at the copy you received when you opened the account. At a pretty quick glance you can determine the availability of any item you deposit.

A word of caution, having multiple overdrafts is a legal reason for them to extend the hold time on your deposits.
Posted by Anonymous on 2009-10-02:
You also have to be aware of how you use your card. If you use it as a debit card (you punch your pin code in), the transaction will post the next business day. If you use it as credit (you DON'T punch your pin code in), it could take up to 4 days until it posts.
Having multiple overdrafts is bad. Not only does this bank get your money, but when you deposit large checks, holds get put on them.
Posted by yoke on 2009-10-02:
I hate it when the bank takes OD fee's out for no reason.

When you make a deposit it will say on your receipt when the funds will be available. If not then ask the teller, she will tell you.
Posted by JR in Orlando on 2009-10-02:
Somehow you came up with $570.00 for overdraft fees this month. Seems like if you came up with that amount and left it in your account as a cushion, you would not have this problem with overdraft fees. Spending to the last dollar in your account, creates the risk that an overdraft will occur. Accept these are the rules, that the rules apply to you, and that you will pay if you deny reality.
Posted by TheMightyBoosh on 2009-10-02:
mscantbewrong did you even read the complaint? the poster is not spending more than she has if part of her deposits are put on hold without any indication as to when the full amount will be available. get real.
Posted by yoke on 2009-10-05:
mightyboosh, when the OP made the deposit on the deposit slip it should say when the remainder will be available. If it did not it was up to the OP to find out before spending the money.
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This is the Least Consumer Friendly I have ever encountered
Posted by SFC PBD on 07/20/2009
My Bank, Provident, was recently acquired by M&T Bank.
They are the least consumer friendly bank I have ever encountered. Today (before 1100 AM) my wife took a CASH deposit to them and was told they do not credit cash until the following day!
Additionally, I am in the military and even though I have direct Deposit they do not credit the deposit for almost 24 hours.

Do yourself a favor avoid them at all costs. They use your money for 24 hrs then charge you outlandish fees.

I will be switching banks!
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Posted by saj80 on 2009-07-20:
Per Reg CC, cash deposits are required to be credited to the account no later the one business day after the deposit is made, so the bank is legally within their right to do this. However, it doesn't make sense from a customer service viewpoint; find a small, locally owned bank and stay away from the large national banks.
Posted by Anonymous on 2009-07-20:
Don't be too quick to jump. What they are saying is that the cash will post with full availability during the same buusiness day's update. Just about every commercial bank works the same way.
Posted by fire4511 on 2011-03-24:
If you are military, you have several credit union options in the "Provident" service area.

Anything is better than "empty" (M&T)
Posted by MDSasquatch on 2011-03-24:
If you have one in your area, contact Wells Fargo and ask them about their Military Accounts; I joined them when I was on active duty and have been with them for about 6 years now. Great Bank
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M&T Mortgage Consumer Beware
Posted by Panas on 02/26/2010
M&T mortgage consumer beware.

If you are thinking of a mortgage, you must definitely avoid M&T bank. They will put clauses in their documents making your life miserable and threaten you later on to do all kinds of things. In addition, even if you are late one day in ten years to send your payment (within of course the grace period) they will start calling you with automated systems! I was very surprised to get this treatment after so many years. Be absolutely careful of their mortgage clauses!

Do not just depend on my opinion. Search the web for related complains. They are a fourth grade bank of unprofessionals to deal with. I am in the process of refinancing and go with a better bank.
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Posted by Sandra on 2013-09-17:
I too have had terrible experience with M and T bank. It takes 10 minutes on the phone just to get to a menu that might connect you with a representative. My mortgage was sold to them by Bank of America and I couldn't be more unhappy. When I tried to set up automated payments, they will not allow me to pay my mortgage ahead of time. It is either right on the date or exactly on the last grace date but NOT ahead of time in order to avoid any chance of penalties! The customer service is horrible and I will start actively looking for a bank with whom to refinance just to get out of M and T bank!
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Heartless Company
Posted by M&Thater on 12/08/2009
BINGHAMTON, NEW YORK -- M&T Bank is an organization that is capitalizing on those who make mistakes and they even help their customers make mistakes. Over Draft Fees create a huge revenue stream for this heartless banking institution. They are so sleezy!!! We need to write our politians to get htem investigated and audited. I have paid out over $1000.00 in only 2 months. In one case it was a matter of ours before the direct deposit went in. The other was a held check I deposited to cover myself. They are ruthless... My Christmas is ruined!!!
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Posted by Anonymous on 2009-12-08:
Overdraft fees are your own fault. It doesn't matter if its hours or minutes before your direct deposit. You made a transaction hoping the direct deposit would cover it. The banks are not on your side and will post the debits before your deposit goes in. $1000 in two months? You need some education in banking.
Posted by clutzycook on 2009-12-08:
Wow, a grand in OD fees in just two months. Assuming $35 each, that's more than 28 overdrafts in two months. HOW?!
Posted by PepperElf on 2009-12-09:
sometimes it's better to hold off on spending until you know for sure the money is there.

now my bank is pretty up to date with the online statement
not sure about others tho

but never ever rely on an atm statement of course
Posted by tnchuck100 on 2009-12-09:
SISTER, you will find there is a dedicated crew here that even when the poster is admitting his mistake and is complaining about how the bank has capitalized on that mistake to the financial detriment of the poster. They will overlook the actual complaint and throw the poster under the bus and praise the bank.
Posted by MaggieMcT on 2009-12-09:
OP, you really can avoid these fees. But you have to keep a register, and you have to write checks/make debits only AFTER the money to cover them is in your account.
That's not "praising the banks," that's just the truth.
Posted by PepperElf on 2009-12-09:
some of us feel it's a sorry state when we expect others to clean up after our mistakes

and then refuse to change anything in how we live to prevent those "mistakes" from happening again.
Posted by clutzycook on 2009-12-09:
MYTWIST, I am in hard times, but I'll be darned if I'm going to spend money I don't have and then come on here and complain that the bank punished me for it.
Posted by Anonymous on 2009-12-09:
"What unkind comments, I hope you never fall on hard times and hope to be treated fairly."

I live paycheck to paycheck, but I know how to balance my checkbook so I don't give the bank my money. I live on a strict budget until things can turn around... if they ever do.
There's ways to avoid overdraft fees. It's not hard. If consumers are getting multiple overdraft fees, blaming the bank isn't going to make them go away. They can either learn how to use a check register or use Quicken or whatever to keep track of their account better. Or switch banks and hope and pray that it indeed *was* the bank that was causing them all that grief. And, if it keeps happening again... chalk it up to it's not the bank, it's "me" that has to make the change and learn how to balance a checkbook and not rely solely on what it tells me online.
Anytime I've ever "stood up for the bank"; as people like to say... it's to tell the consumer how deposits work. How their debit card works and how to use a check book. That's not defending a bank, that's informing a consumer how to avoid overdraft fees. If the person is unwilling to heed some advice from someone who used to be just like that 'til I took the steps necessary to avoid overdraft fees and giving a bank money, so be it.
Posted by clutzycook on 2009-12-09:
don't worry, bearkat. Things will turn around. It's just going to take a bit of time.
Posted by PepperElf on 2009-12-09:
bkk it's "unkind" because people hate it when they hear the truth....
Posted by tnchuck100 on 2009-12-09:
Of all the comments posted for this review SISTER is the ONLY one who seemed to grasp the basis for the complaint. It amazes me how blind so many of you are as to how unfair the banks are being toward their customers.

It's not the overdraft fee that is the problem. It's the COMPOUNDING OF THE PROBLEM the banks are doing just because they can.

Don't argue this point. You can't see it so you cannot comment with any justification for this despicable behavior on the part of the banks.
Posted by PepperElf on 2009-12-09:
so.... letting people overdraft as much as they want without consequences is "fair"? then?

that it's "unfair" to tell someone to manage their finances?

i've said it before and i'll say it again
people won't be happy until the banks just give money away for free
Posted by goduke on 2009-12-09:
Banks just need to quit covering overdrafts and return the checks/decline the charge. Period. Problem solved.
Posted by Anonymous on 2009-12-09:
Yes, they do, goduke.
Of course, they'll be the 50 million complaints of people griping because their check bounced or their transaction was declined... but there won't be the complaints of overdraft fees anymore. :-)
Posted by PepperElf on 2009-12-09:
so either way banks will be blamed
Posted by Anonymous on 2009-12-09:
They are going to begin declining the debits next year, but you always were and will continue to be charged for a returned check. In that instance, OD protection is your friend.

Just wait, this time next year the screaming complaint will be "the bank declined my debit card and I had my whole week's groceries on the belt, and it is only 2 days before my direct deposit! They are cold and heartless to treat a good customer this way and we should start a class action suit"

And Chuck will chime in that banks are evil, the poster is totally right, and don't listen to the collabrative of bank defenders who post here.
Posted by PepperElf on 2009-12-09:
ken - or that they will say that and blame the bank for being embarrassed at the checkout
Posted by memoryx57 on 2009-12-09:
The problem is NOT and NEVER has been an overdraft. The issue is TURNING 1 overdaft into 4...I personally have NEVER seen 1 complaint on this site where someone is griping about getting an overdraft that was legitimate. It's the way banks turn 1 "oops" into 12...JUST BECAUSE THEY CAN !! That my friends is the issue and NOT getting an overdraft..
Posted by PepperElf on 2009-12-09:
actually what normally happens is that...

say you have 5 transactions going through. everything is within spending limits until #5 which is a check and made out for an amount that will make you OD.

but #5 is the biggest one so ... it goes through first.
keep in mind there is no law preventing this unless your state has one.

the quick and dirty solution to this is to not use checks, use money orders.

that way you know the money order will not bounce

yes they cost to use but... it's a small insurance policy if check writing is screiwng you over in this
Posted by Anonymous on 2009-12-09:
Mem, this very post complains about getting an overdraft that hit before the direct deposit. How can that be the bank's fault?

The simple truth is that not everyone should have a checking account. It just doesn't work for everybody. If this poster was using cash and money orders, they'd have an extra two grand to spend this Christmas. Less convenient? You bet! But in this example, convenience costs two thousand dollars.
Posted by Anonymous on 2009-12-09:
I think Pepper read my mind.
Posted by Anonymous on 2009-12-09:
Many of the complaints on overdraft fees I've seen stem from just relying what it tells you online.
They log in. Look at their available balance and spend. And then get upset when all these things post and they have 5 overdrafts.
They don't take in account that the checks they've written aren't going to show up as pending. Nor the things they've purchased with their debit card by using it as a credit card (they don't punch their pin code in); also don't always show up online as pending. So, they may have checks posting that night plus these debit card/credit card purchases... so everything else they do that day is going to bounce when that money gets collected from merchants.

Hopefully, when all these new laws go into effect about OD's being limited and for how much they go in the negatives... maybe, just maybe things might change. I'm not going to hold my breath, though.

This complaint is about the same thing. Seems things went through before the direct deposit. If they're just solely relying on what it tells them online, then they aren't taking other things into factor. If purchases hit the account before the direct deposit, direct deposits usually post that morning, not the night before... when things post. That direct deposit isn't going to cover things that post that night.
It's like people trying to play the "float" game with their money. You can't do that anymore.
Posted by old fart on 2009-12-09:
If you can go on line to check your balance it's equally simple to balance your checkbook daily, nay, hourly if you wish...stop spending money you don't have in hand!
Posted by Anonymous on 2009-12-09:
Best answer and insight award goes to memoryx57,tnchuck100 and MYTWISTEDSISTER.

As far as what will happen when the new regulations kick in is just pure speculation and predicting how Chuck will respond is just rude.
Posted by JR in Orlando on 2009-12-09:
I amazes me that people who can pay $1,000 in overdraft fees, somehow can't set aside that money before then as a cushion in their account.

The banks have to adopt a uniform plan to handle deposit order. The choices seem to be: date of occurrence, largest to smallest, smallest to largest. If they do not have a uniform plan, cries of discrimination and unfairness would arise. Under whatever plan is used, some people will be hurt more than others. The largest to smallest plan makes sense in that the largest debit/check is usually most important. It has a rationale basis.

Imagine the squeal that will go up if an alternate plan results in someone's credit card payment being denied (causing their interest rates to go up) because their starbucks coffee debits came out first.
Posted by tnchuck100 on 2009-12-09:
"The largest to smallest plan makes sense in that the largest debit/check is usually most important."

This argument holds no water whatsoever. They are paying them all anyway.
Posted by Nohandle on 2009-12-09:
Let's toss something else into the equation here. I personally keep a check register, do not do online banking so as a result don't rely on a balance I might see there. Just because someone keeps a check register does not necessarily reflect the true available balance in his account. I PERSONALLY have not had a problem but then the banking institution I primarily deal with doesn't hold a deposit for however long suits his fancy.

We've had too many complaints from members with overdraft fees. I've yet to come up with ONE particular bank quilty. Pick and choose. We've had complaints about all I can think of. Preying on the poor as some reviews have suggested? I think most will prey on every depositer if given the opportunity.

And, I also don't use a debit card. I believe many just don't understand how they work.
Posted by Anonymous on 2009-12-09:
NH, *most* don't have a clue how they work. If I had to pick on the banks for something, it would be that they don't educate the customer before they hand them the card. Starting next year, all checks will be considered 'local' checks, so normal checks almost completely go away. Still, if you don't have a very good track of your available balance, you ought to just pay cash.
Posted by PepperElf on 2009-12-09:
well obviously your check register will fail if you don't actually put in every transaction.

my mother does. if it goes into or comes out of her account, it's put in the register. (this includes using the debit card, or taking money directly out at the bank or an atm)

now personally my bank is pretty accurate on the web page with one exception - checks. they can't put a "pending" mark for a check that's been mailed off cos they don't have access to my mail or my brain to know a check has been sent off.

then again i've said here and at pfb that these days i don't use my account unless i verify ahead of time that there's money there. and i'v been keeping a close eye on what i spend to know if there's anything pending
Posted by Anonymous on 2009-12-09:
"I believe many just don't understand how they work."

No, they don't nohandle.
And that's where issues lie.

"I think most will prey on every depositer if given the opportunity."

Yes, it's not just the poor. Banks don't discriminate. If you have a bank account with any bank, they'll take your money whether you're rich or poor.

And yes, even the most anal retentive person that keeps their account in line with a register can have an overdraft. But, the point in record keeping is to keep that a minimum.
Things happen, a mis calculation in math or something. But, the fact that the responsibility isn't lying solely on a bank to keep someone in check of their finances... that's not their job... that's the person who opened an account's job.
The only thing I can say would be a bank's job is to educate someone on how a bank account works before sending them on their way. How debit card purchases work and the like.
Posted by Anonymous on 2009-12-09:
I still don't see what any of this accounting 101 has to do with banks being able to charge over 10,000% interest on short term loans they call overdraft protection. Overdraft protection is nothing more than a very expensive line of credit. Heck many states outlawed payday loans because they were charging 300% + interest yet banks are allowed to charge 10,000% + interest just because they convinced the gov & fed that it was convenience fee. I just don't get how people can approve of banks charging people 10,000% + interest.
Posted by Nohandle on 2009-12-09:
Stew, you'll never hear me approve of the interest charged on overdraft protection nor any term someone wishes to call it. We all scream about the interest charged but does anyone take into account the interest paid on investments with a bank? Nil to none. 4% 15 months ago is now down to 2% if reinvested for the same period of time. I'm past being fed up with it all.
Posted by Anonymous on 2009-12-09:
I've never approved of overdraft fees. I just simply say there's ways to avoid them. I've been using the check register movement long before online banking and overdraft fees became an issue. It's worked for me then, it works for me now. And a many people who use the check register, it seems to work for them too. Or, like my bf, he uses Quicken. Some businesses use Quicken... whatever they can do to keep track of their finances. It seems to work for them... especially when it comes to banking with big name or local banks.
Posted by Anonymous on 2009-12-09:
AMEN Nohandle. I've resorted to bonus checking accounts that pay 3.5% for the first 25K. Now of course you have to have one direct deposit and like 12 ATM transactions per month which is another reason I buy all my vending machine diet cokes with a debit card. As it stands now I have to make 36 non-pin debit card transactions a month. It's a jungle out there.
Posted by Anonymous on 2009-12-09:
BKK, Hey I agree people should keep track of their finances. I've used quicken for decades. I can account for every penny I've spent/earned since 1989. Keeping good accounting records not only helps you if you're living close to the edge but it's also a great tool to get you out of that payday to payday life style. I've had but one financial goal for the last 20 years and that was to increase my networth every quarter. Sans a couple of rogue quarters I've been able to accomplish that goal. I would not have been able to do that had it not been for precise record keeping and also financial learning beat into my head by my family. Those people just worship money.
Posted by Anonymous on 2009-12-12:
Twisteds, it doesn't matter WHY you spent more than you have. You are in effect stealing and the banks used to prosecute for it. I am so sick of the people who overspend and get the punishment yet blame the bank and everyone else for their habits. I am not going to be charitable to people like that.

I also live paycheck to paycheck and right now is a tough time for us financially. We didn't know if we were going to be able to keep our house. Out heating unit is out and we are using small heaters to keep warm. It is still about 55-60 in my house. We wear 2 layers and do the best we can.

What I do not do is swipe my debit card or write checks for money I do not have. No matter how bad it is, I am not a thief nor a crybaby. I also do not blame others for my mistakes. GROW UP and take responsibility.
Posted by tnchuck100 on 2009-12-12:
TWISTED has made an excellent real-life scenario that must happen to thousands of people every day. The banks are unfairly profiteering from these conditions. As usual LadyScot and others do not comprehend the inequity being visited on the account holders. Using labels such as "thief" and "crybaby" goes even further to point out your failure to understand.
Posted by Anonymous on 2009-12-12:
Chuck, as usual you label me and the others who do NOT steal from our banks then cry when we have to pay the money back with interest as being unable to understand anything. Blame the big bad bank if that is what it takes to get you through the day.

The rest of us grownups who are responsible and don't need a handout can continue paying our own way.
Posted by tnchuck100 on 2009-12-12:
I "label" you this way because it is accurate. I did not say you could not understand ANYTHING. It's just that by the statements you make it is clear that you don't understand the what the complaint is really about.
Posted by MaggieMcT on 2009-12-12:
Speaking only for myself -- I DO understand that many of the complaints are about the way the banks reorder the debits, resulting in more overdraft fees. BUT -- I will continue to point out that these fees can be avoided by not overdrawing in the first place. A lot of posters give the impression that they think they have a right to overdraw their accounts. They don't.
Posted by Kennyseven on 2010-03-24:
Lets be real here.Banks know exactly what they are doing. They make money on the unfortunate or lets say unlucky people. They have studied spending habits of populations. Its true that 85 percent of people never overdraft and about 15 percent do on a regularly basis. Say like 7 overs a year. well that 15 percent of people pay approximately 68 percent of all service fees which equals billions of dollars. They say that letting you overdraft is a convenience for you....HORSECRAP ....they say that reposting your bills or debts from highest to lowest is in your best interest....HORSECRAP...they know how to make money and do it in a way that is just plain old tom foolery. Remember not everybody is perfect...and they take advantage of this fact! What happened to honest Banking!
Posted by Tyger Eye on 2012-07-10:
My grandson did some work for me, and I paid him with a check. I didn't have the cash on hand. I don't know what other banks are doing, but my M and T charged the boy $10 out of that check. It's outrageous.
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Misinformation By Incompetent Reps
Posted by Omiomi on 10/07/2009
My husband and I joined M&T shortly after moving to NY and it has been nothing but a disaster. From the first week of being a new member we were hit with various fees and were treated harshly by the reps at the call center as well as the reps at the branch. Examples are how we were never made aware of how putting cash in the account after so called business hours will not be available until the next day. Needless to say we were charged a couple overdraft fees even though the money was there. The final straw with this corporate of thieves happened today when we were told we had seven overdraft fees even though the online account as well as three reps and the automatic tellers told us that our account was fine, everything was showing up as paid and we were told that nothing was pending. Now today we are told that there was an authorization hold that overdrafted several items even though we were shown and told that everything was fine and nothing pending. We spoke with a manager and were rudely told that the reps were wrong to tell us that all was well and it was our fault for following what was on our online account .

I asked if they would waive the fees and were told no. I feel that this was an illegal act to try to get more money from us. Needless to say we are going to close this account and get away from these lying thieves. We would strongly recommend that if you are not a member at this bank then keep it that way, stay far away from M&T and do not trust them.
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Posted by Anonymous on 2009-10-07:
Should you go to a new bank, read the materials they hand you when you open a new account. It outlines everything from the various fees, deposit holds, business days, cutover times and the like.
Posted by tnchuck100 on 2009-10-07:
Stay away from the "big banks". Find a credit union. Life will be much better. Keep a check register. That will be a tremendous help.
Posted by JR in Orlando on 2009-10-07:
Irresponsible consumer with no brains. When I read reviews like this where they call banks "liars and thieves," it makes me want to apply the same standard to them. They act as if what the bank said resulted in them being overdrawn, when its their own fault for not keeping a check register and for not reading the rules, e.g. cash deposits.

It is or isn't overdrawn, regardless of what the bank says their records at the moment show. These consumers instantly call them liars instead of simply acknowledging that the bank did not have all the information at that time, unlike them who wrote each check or made it debit.
Posted by MaggieMcT on 2009-10-07:
If you weren't given a copy of the account terms, you should have asked for one. And are you keeping a check register?
Posted by Anonymous on 2009-10-07:
Chuck... credit unions don't want them! They are an unending source of problems and you aren't being a friend to credit unions by directing them theer.
Posted by Anonymous on 2009-10-08:
er... there!
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StarEmpty StarEmpty StarEmpty StarEmpty Star
This Company Really Has Terrible Customer Service
Posted by Charityb1999 on 01/31/2013
BALTIMORE, MARYLAND -- I entered the bank on January 30 2013 to cash a check; I have 2 business accounts and a personal account with M and T Bank. I signed the check and put a thumb print while waiting for the Teller.

When she came she was looking up the account and had to receive approval because of the amount of the check". This was a new account but I am not a new Customer. The other Teller comes and starts asking who the owner of the company is, where else did I try to cash the check, and treating me as if I was a thug that just came off the streets:. My check had cleared and been validated, the Teller proceeds to help other people without letting me know anything when I asked what is going on she tells me that they are working on it and she doesn't know what they are doing".

So I asked to speak to a Manager and she says the Manager is in the back working on something. After I insisted on a Manager and raised my voice then someone came from the back and guided me to the Manager, as I arrived in the Managers office she is calling the bank I opened the account with inquiring on my intentions.

I was never asked any questions; they were treating me as if I had bad intentions, without explaining or asking any clarifying questions! They didn't even research to see if I had any other accounts/.The customer service at this location is very unprofessional and the Tellers are very unhelpful, if you can go to another location or better yet go to another bank.
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Posted by leet60 on 2013-01-31:
With respect, the tellers may be limited in what they are allowed to tell you in a situation such as this. They could, perhaps, been more polite to any customer.

The bank verifying a check on what they considered a new account is not uncommon, with the amount of check fraud that is prevalent.

While I agree, they could have been more polite and professional with any customer, verifying the check was certainly not out of their normal procedures.
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Why Can't You Do What I Ask?
Posted by Tmkreiger on 01/25/2013
I called the bank to tell them to stop payment on a product I cancelled two months ago. They keep billing me. I said to stop payments to them and got the runaround that they cannot stop electronic payments. What is so hard about this? Just stop paying the hydroxatone people. Don't let them take any more money out of my account. What is so hard about this? Just block them. Jeeze
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Posted by Obsfucation on 2013-01-25:
Here's what's so hard. When a block is placed, they have to specify exactly what to block, things like originator number, dollar amount, description, source, among others. All the Hydroxotone company has to do is change a variable each time, and it will slide right through. They know this and take full advantage of it.

Have you signed a stop payment form for this company? That's the first thing you must do. A vedrbal request is not sufficient. If you have stopped payments, you are within your rights to have them returned, but you still may have to monitor and request a return when it happens.
It is a great deal more difficult to get the kind of payments turned off on a debit card than it is on a credit card, and is th eprimary reason for not using a debit card on this type of deal.
Posted by trmn8r on 2013-01-25:
Automatic electronic withdrawals are very dangerouus. I grant this to only my power company and my telephone company (a landline - very predictable bills).

From 5 minutes of research (very brief), it appears that a bank should block a recurring charge if they are given oral or written notice 3 days or more prior to the scheduled transaction. If they let it through, you should be able to get it back.

However, it appears that if the company changes the name on the transaction, it could go through anyway. I imagine they would have to change the account it is transferring to as well, but I don't know.

Your last option appears to be a hard block on debits, which could be hard and take weeks to implement if you have others set up. Good luck - that is a nasty problem.

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Cant Get a Payoff Amount
Posted by on 08/06/2012
My son called in for the payoff on his truck. They can discuss the account status but can't give him the amount. So he calls me 2700 miles away. I call and I get we can't give you that amount without the VIN number to verify the loan is the right one. I only have one with them and never a freaking again. DONT GET A LOAN WITH THEM. They tell you can get info on line. NOT ON AN AUTO LOAN why is it the only one you can't get. HMMMM they are the people they can scam more......................... My mom was to be the co-signer, but she is the only one on the loan. I have complained for 5 years and they say it will show on my credit that I paid this loan. NOT
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Posted by DebtorBasher on 2012-08-06:
I'm a little confused here...the truck belongs to your son, the loan is under YOUR name (his parent) but your Mother (Your Son's Grandmother) is the co-signer? Do I have that right?
Posted by Susan on 2012-08-06:
If the auto loan is in your mother's name only then that is most likely the only person they will give account information to, such as the payoff amount. And since the loan is in her name under her social security number there is no way that the payments can be reflected on your credit report. Finally, requesting the VIN number seems pretty reasonable to me.
Posted by trmn8r on 2012-08-06:
I'm with DebtorBasher, who is a pleasant companion if you must have one. It sounds like three generations are involved.

I'd like to believe that if the person who signed for this loan were to call, and provide the information needed to identify themself and the car, they could obtain the information sought.
Posted by jonthethird on 2012-08-06:
the payoff on my vehicle note is on every statement
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Excessive ATM Fees
Posted by Rayprugh on 08/03/2012
BALTIMORE, MARYLAND -- Apparently the bank, in their usual manner, issued a notice in small letters at the bottom of a statement that they were to charge a fee for each and every ATM withdrawel over 4 per statement period (1 month). I still haven't found that notice! This fee was to be $5.00 per transaction. This is in addition to the $2.50 fee if you use another banks ATM.

In July my wife used the ATM 20 times to acces HER money so M&T charged her $80.00 in fees. During the same oeriod they paid he $.01 in interest. It looks to me like they want to penalize you to keep YOUR money where THEY can have access to it to use as they see fit. When I called them I was told TOO BAD no refunds for you. That is why by September 1st the account will be closed and in another bank that appreciates my business.
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Posted by Bill on 2012-08-03:
M and T has to make up the money they paid to acquire Wilmington Trust last year. If you want free atm use you have to sign up for the premiere account or whatever it's called and it only applies to M and T atms.
Luckily I was a customer with Wilmington Trust before and we were grandfathered in according to a teller so I don't think M and T and can start hitting us with fees.
If they do it will be time to look for a new bank or credit union.
Posted by trmn8r on 2012-08-03:
Reading those disclosures is extremely important, as you found out. My guess is indeed there was such a notice - banks are required to send them.

Banks have scrambled in the last year to find new ways of making money because of certain changes in fees they can no longer charge. I think everyone realizes at the end of the day they have to be profitable. However, fees like this can be shocking because if you aren't aware of them you can get whacked like you did.

It does cost money to provide and maintain ATMs. Limiting customers to 4 withdrawals a month is reasonable IMO. Of course I would NEVER pay $4 to use an ATM, so I would make sure not to go over 4. I also would NEVER use an out of network ATM. Avoiding bank fees can be very profitable for us as consumers. Good luck with your new bank.
Posted by bob932304 on 2012-08-03:
Want free ATM withdrawals - join a credit union. Some minimums are $100 for checking, some are only $5.
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