[X]
Write ReviewJump to 
1
Helpful
Votes
Votes
M&T Bank Complaint - Bought my bank, and it was so bad that I closed all accounts
Complaint
I had both business and personal accounts with a local bank, and was very happy with both the service and the lack of fees (free checking) that I had. My bank was purchased by M&T (or as I pronounce it "empty") and everything went downhill fast. The second time that I went to the "new" bank (they actually closed the branch that I had been dealing with because they had an existing one nearby) to make deposits into both my personal and business accounts, they messed it up. They put money into my personal account that should have been put into the business account. The lead to overdrafts on my business account which they paid, but charged a fee to do.
When I went back to the bank to find out where my deposit was they told me that it was my error, and I had deposited the funds into the wrong account, even though I gave them copies of the deposit slip. They agreed to give me a "courtesy credit" on my account for the fees. I had to write a personal check to the business account to cover the money that was supposed to have been originally deposited into the business account.
When I asked for the copies of the deposit slips back, the woman mysteriously could not find them. They wanted to destroy the evidence of their error.
I am not stupid enough to bring my only copy of anything to a dispute, and I told her that it was not a big deal, I had additional copies that I would be sending to the corporate headquarters. Her face dropped, which told me that I could not trust the employees there.
I went the same day and opened a new business account at a different local bank. As soon as that was done, I wrote a business check on the M&T account, leaving a balance of under $5.00. I also went to my credit union, and opened a checking account there for personal use. (They do not offer business accounts)
Before the end of the statement cycle, I went into the "empty" bank and closed my accounts. Three weeks later I got a notice that I owe fees on my business account, that they had not posted when I had closed the account. For six months I got letters and phone calls demanding payment. A letter from my lawyer seems to have gotten it straight, but in any case they will never see another dime of my money.
When I went back to the bank to find out where my deposit was they told me that it was my error, and I had deposited the funds into the wrong account, even though I gave them copies of the deposit slip. They agreed to give me a "courtesy credit" on my account for the fees. I had to write a personal check to the business account to cover the money that was supposed to have been originally deposited into the business account.
When I asked for the copies of the deposit slips back, the woman mysteriously could not find them. They wanted to destroy the evidence of their error.
I am not stupid enough to bring my only copy of anything to a dispute, and I told her that it was not a big deal, I had additional copies that I would be sending to the corporate headquarters. Her face dropped, which told me that I could not trust the employees there.
I went the same day and opened a new business account at a different local bank. As soon as that was done, I wrote a business check on the M&T account, leaving a balance of under $5.00. I also went to my credit union, and opened a checking account there for personal use. (They do not offer business accounts)
Before the end of the statement cycle, I went into the "empty" bank and closed my accounts. Three weeks later I got a notice that I owe fees on my business account, that they had not posted when I had closed the account. For six months I got letters and phone calls demanding payment. A letter from my lawyer seems to have gotten it straight, but in any case they will never see another dime of my money.
Comments:
Posted by trmn8r on 2011-03-24:
If I read this correctly, this was over a deposit that was credited to the wrong account, in your name. A fairly understandable mistake, perhaps one wrong keystroke by the CSR, if she had both your accounts on one screen.
If you had copies of your deposit slip, I am surprised you didn't present these to the bank so that they could refund any fee they may have charged you to correct the alleged error.
Bank mergers are tough. I had MBNA, which I loved, and then they were bought by BoA.
If you had copies of your deposit slip, I am surprised you didn't present these to the bank so that they could refund any fee they may have charged you to correct the alleged error.
Bank mergers are tough. I had MBNA, which I loved, and then they were bought by BoA.
Posted by tnchuck100 on 2011-03-24:
trmn8r, you did not read it correctly. Try again. You missed some MAJOR points.
The deposit slips WERE presented. And mysteriously lost.
The deposit slips WERE presented. And mysteriously lost.
Note: All comments are reviewed by a moderator before being published. Please be sure to read our guidelines before commenting.
Company Reps: Post your company response!
Recently Discussed:
More Reviews on M&T Bank:
- Policy Change? - Overdraft coverage
- Never Open Safe Deposit Box at M&T - Safe Deposit Box
- Let me save you some money.. dont deal with M&T's irresponsible and unorthodox methods - Overall
- Terrible Service, Horrible Consumer Relations - Checking
- Was is the limit for overdrafting your account - checking account