M and T Bank - Page 2

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Never Open Safe Deposit Box at M&T
Posted by on
TOPTON, PENNSYLVANIA -- Do not open a safe deposit box at any M&T Bank.

If you do or already have one, make sure that you never close out a safe deposit box before your paid up year / annual fee is up. While most other banks will prorate a refund for the portion of the year that remains. M & T Bank does NO refund. I had a safe deposit box with them for many years. The $125 annual box fee was paid in full in January. This fee is also quite large for the non-metro location. The box was closed out in mid-March --- approximately $90 they keep. The "theft" of this is that they can still rent the box during the time that remains of my $90 and make an additional $90. The "customer service" staff just kept repeating the "company line." What a convenient way to make a substantial profit. This is true double dipping.

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saj80 on 2011-03-10:
I bank at a local community bank, and they do not prorate safety deposit box rents. If you pay for a year and cancel early, no refund, so this is not an isolated incident involving large, commercial banks.
Anonymous on 2011-03-10:
I pay $30 a year for my safe deposit box at my local credit union. There is no refund once you pay the yearly fee.
BEJ on 2011-03-10:
My bank does not offer a refund or pro-rated refund for cancellation of term early. I think that this is pretty standard everywhere.
trmn8r on 2011-03-10:
I have never heard of a bank prorating safe deposit box fees on a closed box (though it makes sense that they should).

Safe deposit box fees skyrocketed around 5 years ago. Now I deposit my valuables in the Mattress Bank LLC.
wwabc on 2013-10-04:
M and T offers a free safe deposit box with their checking (as of this comment 2013) - may be a moot point.
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Terrible Service, Horrible Consumer Relations
Posted by on
SINKING SPRING, PENNSYLVANIA -- M&T Bank (4830 Penn Ave, Sinking Spring, PA 19608-8601, Contact Mark Katkovcin 610-776-6424) has joined the masses of banks forcing exorbitant overdraw fees on consumers, even when the overdraw is their own fault. In one case, mine, the phone representative--who is apparently held to no responsibility--said my account was fine, and I intended on closing the account entirely. When I attempted to close the account, I was instead informed I owed them hundreds of dollars. Their manager promised to fix it, then disappeared for six months. Every subsequent attempt to contact was rebuffed until I received a collections letter for almost $1100! That's over a thousand dollars in overdraw fees when the bank was at fault.

Upon contact with M&T phone representative around 05/1/2010, was told that all current balances were okay and explicitly told that no charges would come out of my account. One week later, received $250 in charges. Upon speaking with the supervisor for previous phone representative around 05/10/2010, was told that clearly that I was either lying or wrong. Contacted local bank and district managers to clear up the situation. Their phone representative caused the issue with an inaccurate misrepresentation. Was told by Mark Katkovcin, Administrative Vice President, around 05/14/2010 that he understood and this issue would be cleared up. He passed it on to Sonia Torres at the local bank. A month later around 06/07/2010, I sent an email to Mark Katkovcin asking for an update. I did not receive any response. Around 09/23/2010 I received a collections bureau notice that I now owed approximately $1100. This consists mostly of overdraft fees, extended overdraft fees, and late fees. The actual overcharge is unknown. I had offered to pay the amount overdrawn, and was rebuffed and told to pay the overdraft. I asked for a courtesy refund, and was told that they could refund less than half of the fees. I refused. Around 9/24/2010 I was contacted by the bank vice president stating that since I refused to accept a partial refund they consider the case closed.
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Alain on 2010-09-28:
What caused the initial over draft?
RBorek on 2010-09-29:
The original overdraft was caused when I called saying that a purchase was Xoming through but a deposit hadn't cleared yet. I was assured the deposit would clear before the purchase. However, when I checked afterwards they charged me because the purchase--credit--was made prior to the deposit.
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NSF Ripoff
Posted by on
MARYLAND -- So I had NSF fees in the past and I had not until recently been paying attention as to why. I always paid them thinking it was my fault. So this last week I paid attention and watched my account like a hawk. There was a charge in my account that was larger than I expected, but I made several small payments before that large one showed up on my account the next day the large payment was placed on my account late at night. So I figured I was going to have one non sufficient funds fee. I had 8. What M&T bank does (unlike other banks that actually treat the customer right) is they placed the largest payment 1st, so all the other ones show up as if they were made in the negative when they were done the other way around. When I called about this, the manager told me that it did not matter what time the orders were placed, that it was the policy of the bank to place the large transactions first. Of course that benefits them because since they are paying all the other transactions that went through first anyway they charge you 37 bucks for each one of them. The manager on the phone refused to credit any of those fees.
So I have put a complaint with the BBB. See where that goes.
The fact is that they target fees so they can make most of the money from the low income folk, and that's why the new law that regulates fees was passed. Once that kicks in this August, the large item would have been denied so that I would have to arrange with that company what happened with the payment. So the timing does matter, of course the manager did not care.
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Anonymous on 2010-05-26:
Other banks do this too, like BoA, Key Bank, Wachovia, and others that I've read complaints here about. They do it under the guise of "helping" the customer by making sure their larger payments go through first cuz those are likely for mortgages, car payments, etc...when the reality is, if they're allowing ALL the charges to go through anyway, what's the point..other than to ding the customer as many times as possible!

It seems the only banks that don't do this are credit unions and smaller regional banks...and I think the new law goes into effect 7/1.
skelly39 on 2010-05-26:
Sorry OP, but every bank does this, and they do it precisely so they can take your money legally.
just cause is correct; a credit union won't do this to you. They post things in the order they come in-which is why I will never leave my credit union to go back to a big bank.
MaggieMcT on 2010-05-26:
BUT -- you can still avoid nsf fees entirely by keeping an accurate register and not overdrawing. Even a credit union will charge you an nsf fee if you overdraw your account.
skelly39 on 2010-05-26:
They will Maggie, but they won't reorder your transactions to maximize the fees. In an ideal world, no one would ever overdraw their account, but it happens, and the banks dive on it like vultures on a carcass.
tnchuck100 on 2010-05-26:
just_cause, skelly: Dead on the money. You two see this for EXACTLY what is. A legal fleecing of the customer.

Most complaints are about the MULTIPLE overdraft fees, not the inadvertent single hit. Some here cannot wrap their minds around the concept that the bank is taking money (make that legalized theft) in a manner that credit unions do not do.
Slimjim on 2010-05-26:
You're right loutejada. The new laws passing will not allow banks to process checks and over draft fees in this manner anymore, but as noted, it isn't currently a practice by M&T and maybe a few others. Pick any major bank and look up complaints here. I guaranty you'll see the same pattern over and over. There are a few regulations that have passed or will pass that were a long time coming.
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M&T Mortgage Consumer Beware
Posted by on
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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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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M And T Bank Is Robbing You
Posted by on
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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Anonymous on 2010-01-28:
I don't know if M and T offers this, but theirs 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.

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.
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.
Inat on 2010-01-28:
didn't 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 don't 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
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.
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 - cannot do that anymroe :)
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.
Inat on 2010-01-28:
oh I know what you meant - anyway, if I didn't need bill pay, online banking, etc I wouldn't even use a bank. just pay cash for stuff - and pay your utilities at Kroger...
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.
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?
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.
Anonymous on 2010-01-28:
Not from the credit unions Jim, they are getting their share of the overdraft pie
Slimjim on 2010-01-28:
Got that right Ken.
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Misinformation By Incompetent Reps
Posted by on
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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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.
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.
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.
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?
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.
Anonymous on 2009-10-08:
er... there!
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Posted by on

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 will overdrwa the account an dthen get assesssed late fees. This is supposed 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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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...
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.
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.
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.
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.
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.
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.
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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Let's Write our Elected Officials and Stop This Legal Scam
Posted by on
I think we should all write our federal elected officials and request an investigation into the fees that are charged by M and T Bank. Here's why, this is a $79 Billion dollar resource for banks, which means only one thing, they are making money, ridiculous money off of the consumers and something should be done to stop this. If you are a person who keeps your books organized, manage your accounts well and better yet, have extra money or savings, then I applaud you. Keep up the good work. But for those folks, who may not be able to manage to the penny, because M and T will charge $37 for an overdraft of $1.00, then they (we) need to write our senators, congressman, etc and ask them to investigate this practice.

You know, when I'm wrong, I try to deal with it. Well, I got tired of the fees and went to the bank manager and requested that they lift this grace of $250 off my account, so that if I am off by a few figures, then my card will reject. You know, like in the olden days of credit cards - no money, no charge. This would be perfect. Do you know, they said this could not be done? In other words, it is designed to make money off of the consumer. Only the consumer can stop it. When I asked the manager, why the fees? Why bombard a person with fees that you know that can't pay? His response, "like you said, it’s a 79 Billion dollars…”.

Write your elected officials, today! I’d go so far as to write Obama (I have). This needs to stop. They are taking Advantage of the consumer. It’s like a legal scam and needs to be addressed and modified immediately.
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PepperElf on 2009-06-24:
" But for those folks, who may not be able to manage to the penny,"

What's so hard about doing it?
Pick up a bank balance book, write down what you have in the bank, and then each time you spend put down how much you spend.

It's not a question of not being able to do it.
It's a question of whether or not you care to take the effort it requires.

and I'll be blunt.
it is NOT the bank's fault if a customer is lazy and doesn't keep track of his or her own spending.

But the bank will be blamed when a customer's bad habits send the account into overdraft.

What's so hard about being responsible with your own money?
Anonymous on 2009-06-24:
Here's where you are wrong: if the bank removes your overdraft limit, yourr card will still work, and you will still get charged, because that's how the system was created. What will change is that your checks will be bounced instead of being paid, and you will get an additional fee from the merchant.

I second Pepper's comments.
kisa64 on 2009-06-24:
It really is a matter of personal responsibility. If you choose not to manage your account correctly by keeping your own records, you run the risk of sending your account into the negative. I don't agree with the banks' predatory policies by any means, but I believe NSF fees can be avoided if you record all your transactions and keep a running balance. I am sure somone will come along and tell me how I should not post a comment because I don't comprehend the real issue of how banks are ripping off people, but I do! I agree that it is a ripoff, but overdraft fees can be avoided with careful bookkeeping and acount management!
saj80 on 2009-06-24:
What many people don't realize is that when a bank offers a debt card with either a Visa or Mastercard logo, then these companies require that a minimum limit be allowed on the debt card. Not fair or responsible, but the use of the logo allows them to dictate some terms.
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M And T Is A Rip Off!
Posted by on
DO NOT USE M AND T BANK. THEY ARE A RIP OF! THEY ARE NOT CONSUMER FRIENDLY, BUT ONLY OUY TO GET YOUR MONEY THROUGH FEES AND OTHER BOGUS CHARGES. In New York, M and T charges 50 cents if you use your debit card and enter your PIN #. You have to select credit. Also, if you use a non M and T ATM, they will charge you a $2 -$4 fee depending on how much $ you withdraw,. That is in addition to the fee you are charged at the non M and T ATM. Most banks do not exercise these practices anymore. Also, the next business day at this bank begins at 2:00 or 2:30 pm. So, if you have $0 in the bank and you know a check is going to be submitted that day for payment, you had better haul your butt in the branch before 2:00 pm or else the deposit will be posted with the following date and the check that came in the previous day will be paid, but they are going to charge you a $37 overdraft fee b/c the money to cover the check was deposited after 2:00 pm. This is what happened to me. I knew a $75 check was coming in on 6/3/09 to be paid. There was no money in the bank. On 6/3/09 at 4:00 pm, I made the cash deposit. Remember, the check has not been posted. There is nothing online showing that anything came in. The teller gave me a receipt that said $75 available.

The next day 6/4/09, the check posted with the date of 6/3/09. My deposit also posted online with a deposit date of 6/4/09 and I was charged an overdraft fee. Doesn't sound fair to me! WAMU and CHASE do not operate that way.
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Suusan B. on 2009-06-11:
As far as posting and debiting are concerned, Wamu (aka Chase) works exactly the same way. Their cut-off for deposits is 2:00 p.m. You had an outstanding check and no money in the bank to cover it which is entirely your fault. Most posting of debits and credits are done overnight and to rely on your on-line balance is going to bite you every time.
PepperElf on 2010-07-07:
wow. people disagreed with you so now they must be employees? and of course because you assume they're employees (which is incorrect) it's OK to call them names?

(and fyi I am not a bank employee either. if you read my own reviews you'll see I'm a technician) :-D

most banks charge you to use your debit card at other bank's ATMs, unless you specifically have a contract that states they won't do it.

this is nothing new

also if you try to deposit money after going in the hole... it won't work. deposits and withdrawals are processed differently. withdrawals are usually immediate and deposits are done at the end of the day.

so if you go in the hole, you're still going to end up paying a fee, even if you put money in to cover it.

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StarEmpty StarEmpty StarEmpty StarEmpty Star
This Bank Should Be Put Out of Business
Posted by on
Rating: 1/51
NIAGARA FALLS, NEW YORK -- If you plan to use your ATM card abroad, be aware that it will NOT work. If you call their card center and tell them your travel plans, You will be assured that the card will work, but it will not! this has happened to me twice now, while there were no problems with my wife's Key bank card.

Also, if you plan to have any kind of direct deposits from abroad, they will charge you a service fee, while many other banks will not.
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