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M&T Bank / Legitimate insufficient funds!

1 United States Review updated:

I received insufficient funds fees on 4 transactions clearing the same day. I had enough money in the account to cover three of the transactions, however the bank decided to start with the highest transaction therefore depleting the account of funds and then charging for all 4 transactions. I understand that I am responsible to keep sufficient funds in my account, I take blame for that. But when the bank saw that they could've paid 3 of the items without depleting the account, then thats what they should have done. This is a perfect example of a self serving business. When I contacted them all they said was that is how we post things from the largest transaction to the smallest. My question again is why? They then suggested I enroll in a different checking account that has a 1500.00 minimum balance, but it has overdraft protection availability. The problem with this solution is, if someone can afford a 1500.00 min. Then they probably don't need overdraft protection. Protection should be an option for all the checking accounts. These policies are outrageous. If you ever have problems with your account steer clear of this bank. Consider a small town bank or a credit union.

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  • La
      18th of Jun, 2008
    0 Votes

    I have had the same problems with this M&T bank. There insufficient fund policy is crazy!! I recently recieved over $300 in insufficient fees for transactions that total about $50!! Their creative accounting made it so the funds would not be available and then they proceeded to charge me for things like a $5 charge at McDonalds! And my thing is that there should be some kinda grace period for those that have direct deposit because they know they are going to get their money! The first chance I get I will be getting rid of this bank once and for all! Please pass the word on to stay clear of M&T Bank! They are definetly not the bank for the people!

  • Ri
      7th of Feb, 2009
    0 Votes

    My paycheck is direct deposited on the same day every week to M&T Bank. I looked online and it stated my pay was deposited. I walked into the bank that day and cashed a check for $20. Today they charged me $37 NSF when the money is there! This bank has charged me hundreds of dollars in the past year for that cascading crap they do when putting NSF on a check. They pull out their payment for the overdraft account, bounce that to charge the $37 and start the cascading NSF's again. I just downloaded a form from the Federal Reserve to submit a complaint. I feel like an idiot for not getting my money out sooner. I will close this account immediately. This bank should be made to refund its customers for all the money they ripped off. Someone should do an investigation. I live in Baltimore, they own the friggin' Ravens stadium and run a zillion TV ads, but have no problem outright stealing from their customers here. If anyone knows another state or federal agency to report them to please let me know.

  • Ba
      12th of Aug, 2009
    0 Votes

    I have had the same ### happen with me and they won't help me out! This is what I am trying to email them right now, but for some reason it won't let me send it.

    I just wanted to explain my frustrations at a recent M&T bank in Chester, MD 21619. I frequently check my online account to be sure that my available balance is high enough to make a purchase or pay a bill. I never use the account when I can see that my available balance isn't high enough. Yet, somehow I am screwed into 3 (probably up to 7 by now) $37.00 insufficient funds fees. My statement clearly showed that there were funds available, but somehow even though pending charges are included, they take several days to affect my available balance, which a representative told me was immediate with pending charges. But, your company lied to me, so I assume that my available balance is correct, and I pay a couple bills and get a couple things at the store. Then 3 days later, BAM, all these expensive fees put on a college student because the banks system is messed up and will never actually tell my correct available balance. I made a deposit to cover the amount, and asked if there was anyway they could refund me the insufficient funds fees since it's your online banking system that is messed up, and the guy refused and said he couldn't. I have had this problem several times, and your bank has made well over $500 from me in the past year, due to an incorrect available balance indicator. I figure since you made that much money from me, you could be nice enough to help out a college student that's trying to get by, and instead getting screwed over by the worst banking company that exists! If you can help, please do, but otherwise I'm going to Bank of America. I am also going to write a complaint with the branch itself. It was in no way helpful, and he was lying to me to my face about the available balance.

  • Gr
      3rd of Sep, 2009
    0 Votes

    their fraud detection is aweful. had some one use my card and only had 1st name and no info other than that and bank let 1st transaction go thought with out any problems. but when i've stopped at the bank that same day (friday) i was given a bumb's rush and told to come back monday. and guess what on sunday i've had 3 more transactions. and its been pain proving my case, i had to do my own investigation and tell them what i've found. they've told me i have to dement insuficient funds back from those companies that posted transaction and that it is not banks fault, even though they knew about them, and refused to do anything. been checking around and here is what I've found. direct deposit should be instant and not take 24 hours. debit transactions are $.50 each. fraud detection only for international areas. quicken access is $8.99 other banks have free. check deposits don't give you instant money avail like for instance pnc gives you intimidate access up to $200. random charges for bank use and then refund that same instant, wonder if i have less will that cause overdraft.

  • Sa
      29th of Sep, 2009
    0 Votes

    I have an ebay account and made 3 payments for tiems that were all under $5. I had money in my checking account that is linked to Paypal. I did not know however that I was going to go over by a few dollars. They decided to chage me
    $ 37 for insufficient fund fees, and I got a message saying that they were happy to let me know that they could pay the items for me even though I did not hav eenough to cover the cost. Why would anyone in their dam mind make somone pay $121 for three items that cost under $15 ?? They just wanted to get money out. I know it was my fault that I was over by a few dollars but their fund fees are just way too much, and I do not get paid till tomorrow and they charged me an extra $10 for having a negative balance for 5 days. ugghhh. Anyone have any advice as to how I can hopfully have them waiver this? I am a college student...Atleast I know to always keep a check on my balance now. Paypal supposebly was supposed to show a status as to whether or not I would hav e anegative balance and it doesn't/didn't, I wonder why..

  • Li
      2nd of Oct, 2009
    0 Votes

    I agree with all of you. the same thing has now happened to me. my husband deposit his pay check in the bank, and we were told that because it was before 2 pm that the money was in the account, and also online banking showed it was in their and what my balance was.. so i went and paid some bills on line, got my food order and thought that everything was ok, 4 days later i get a notice in the mail saying i was charged 147. dollars nsf, when i called about this i got the run around, told how they hold a payroll check for 24hrs, to make sure that it clears because they have to send it to the bank that it is drawn on, now here is the funny thing, not knowing that my account had this done, i wrote a check and that same day they took it out, now were my check was cashed at was a different bank!!! funny how a different bank can get that money on the same day!!!

    so i have cleared out that account and went to the bank that my hubby's payroll check comes from.. i have also filed a complaint with the federal reserve and also the better buisness..

  • Ka
      3rd of Oct, 2009
    0 Votes

    I have been having the exact same problems with M and T bank. I am closing all of my accounts as soon as possible. Over the last year I have been charged insufficient funds fees and when I called the bank, and I also went to the bank in person, they tried to explain how their "system" works. To me they work against their customers and try to charge them as much fees as possible. I had banked with Provident for about 10 years and NEVER had these kinds of problems.

  • Da
      9th of Jul, 2010
    0 Votes

    They charge me 100 dollars in insufficient funds fees even though I have 75 dollars left in my account now. I never overdrafted anything but they still charge me for "future" possible overdraft for something that already came out of my account. They double charge for the same item if you use it as a "visa" even after it has already come out of the account. Since I used my debit card as a visa a lot this past long weekend...they got enough enough double charging to make it seem like I was in the negative even though I wasn't. They charge me three 18 dollars charges and then another 37 dollar charge today even though I am still in the positive. I have only 75 dollars left of my money because they took 100 dollars for "potential" overdrafts. I didn't deposit anymore money into the account since the fees so the fact that I still am positive is a sign of something shady. If you don't understand what I mean, then think of how I feel. It doesn't make any sense at all. I am not going to used my "visa" debit any longer this weekend and when I go into the bank next week, I can take out all my money that I have left and move it over to my other bank account that I opened up at HSBC. The only reason I had an M&T account was because they bought out all the "Citibank" accounts in Western NY. It was never a bank I wanted in the first place. I can't believe it has taken me this long to cancel it. Unless you have a lot of money in your account all the time, I would recommend never banking at M&T. You'll end up with overdrafts fees even though you didn't overdraft and have money in your account. I cannot use the bank card in Canada as "debit" so I was using it as a "visa" so that's how they get you with their double holds for one purchase.

  • Le
      19th of Nov, 2011
    0 Votes

    This bank needs to be investigated. I recently made a transfer from M &T to my paypal account by mistake ( I meant to transfer from a different bank). Luckily (or unluckily rather), it went into overdraft protection because of insufficient funds. I found out I had made this error when I received the bank statement and immediately processed full payment to the M&T account. Unfortunately, my payment was overdue and M&T took full advantage. They charged me $10 for the initial overdraft, $37 for nonpayment of $18 minimum monthly payment, another $10 for overdraft so they could take the $37 and $25 late payment. That's $82 in fees. I was okay with the initial $10 fee but the rest of it is just gouging of the customer. Is any credit card company allowed to charge $72 for nonpayment of $18? I spoke to a rep who told me that there was nothing she could do. I mentioned that, at the least, she could waive the $25 fee like other credit card companies do. At that point, she admitted that she could waive that bringing the fees down to $57. I also closed my account. I've heard horror stories from other people about being charged multiple times for the same thing as well with this bank. I've never heard of a bank treating people this ruthlessly. At a time when laws are changing with credit card companies to protect the cardholder from excessive fees, for some reason, M&T is unaffected. It is the type of company that sits and waits for you to make a mistake, and then they pounce on you instead of offering you the courtesy of a one time waiver like other banks in the past have done. An absolutely awful bank that needs to be investigated be the BBB for business practices that should be illegal.

  • Pa
      4th of Mar, 2012
    0 Votes

    I left M&T 3 years ago with the same complaint. They would put the bigger amounts through first. Their explanations were always crap. I just received a letter from them saying that they reviewed my past account and am due for a refund of bank fees. It didn't ask for anything but to verify my address so it looks legit. I am at a credit union now and have not had one problem. Love my credit union.

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