My mortgage was sold to M&T Bank by Bank of America and since this occurred have had nothing but problems.
Refinanced to lower interest rate; actual closing had to occur 4 times due to bank not getting papers correct.
After closing on refinance discovered the still messed up escrow account and did not pay property taxes that year. In 2014 escrow went into shortage; after they issued me back a check of over 6K for having too much ~ and trying to get it all settled correctly has involved numerous calls and still not resolved.
Have issued formal complaint at consumerfinance.gov as I feel some sort of fraud and/or kickbacks are occurring internally within the bank.
Have theory that bank has major financial issues also. While mortgage has a 10 day grace period in which to make the payment ~ if payment is not received on the very 1st day of the 10 day period bank starts aggressive series of calls until payment is made ~ for some reason they are in critical need of getting whatever funds they can on any given day.
Staff was friendly and responsive at all times, many knowing me by name. Business transactions were prompt and professional.
I heard about a promotion online that M&T bank was providing, $100 cash incentive to open a checking account with $300 worth of direct deposits. Just to make sure the promotion was still correct I called and asked the man in sales if it was valid. He asked me numerous questions to make sure I was eligible, and he finally came back with the answer of yes. I opened an account soon after and called when my direct deposit came through the next month (it took a while to get the direct deposit set up in M&T) to make sure I was still getting it... The woman on the other end "checked on a few things" and said my direct deposit would be arriving in the next couple of days. The next day I checked again just to be sure. This woman checked again and told me I was not eligible for the cash incentive as it was not offered in my area! I went up the chain to a male supervisor who said there was nothing he could do. I asked for my account to be closed and he said there would be a penalty for closing the account prior to 6 months. I then asked for his supervisor because I have been lied to and tricked into opening and keeping a bad account. The female supervisor said she could start a complaint for me or close the account without the charge but it would have to be at a zero balance. I asked for a complaint to be launched, which she did. I called back to check on the complaint and got a woman who asked me to hold for a total of close to 7 minutes as she checked the notes and (I would say immediately but it took another 2 minutes) got a supervisor to tell me the complaint was denied due to the fact I had opened the account after the allotted time for the incentive! This company is unbelievable! The will lie to get your business, steal, and cheat to keep your money! DO NOT "BANK" WITH M&T BANK!
had three different problems
( 1 ) applied to be pre-improved for a small loan to buy a piece of real estate from a bank forclosure - big hassle to get an approval ( eventhough I had was willing to put up a CD for the loan amount as collateral ) - only to be told that they didn't preaprove me - just pre-qualified me - lost out on purchasing this property $40,000 under market value
( 2 ) I was supposed to have a bundle acoount but was later told one business account didn't qualify and I had to pay a monthly charge - I closed that account and moved it to another bank with no fees
( 3 ) daughter's money market was part of bundle - only to find out a year later that when it set up -- they put her in a minium balance account so fees would still apply - this account was closed
now going to close out my main business accounts checking & money market , my personal money market and my wife checking account
Manager has a laid back attitude and thinks by saying nothing can be done without addressing the problem should make me feel good - possible he should be the manager and I could go on