M&T Bank / Legitimate insufficient funds!
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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