M and T Bank Complaint - Overdraft Charges - Bank
BALTIMORE, MARYLAND -- I once had two accounts with M&T Bank. I used one for purchases and bill paying; the other I used primarily to transfer funds to an out of state account. Well, my problems began when I overdrew the first account. After accessing all the overdraft fees it could (fees on the two items paid and $10/day for 40 days)the bank closed the account and turned it over to collections. Little did I know that they were planning to seize the money that was in the other account. So, the balance of that account was taken to pay the first, leaving insufficient funds to pay pending withdrawals. The ugly cycle began again. . . overdraft fees on the two items paid and $10/day charge for remaining in the negative. I tried to close the account, but was told that I couldn't until the account was no longer overdrawn. Afterall, why would the bank deny itself an opportunity to make at extra $80. Sinful!