I set up external transfers in order to pay a line of credit account at m&t. I closed checking and savings accounts years ago because of the terrible service and outrageous fees. Didn't realize that they held transferred funds in order to apply insufficient funds fees until i came upon this site. This is exactly what happened to me! When i set up the account for external transfers, the test deposit showed up the next day. When i scheduled the monthly transfer, i gave it three days (because the test deposit showed up in one day) and guess what, it showed up the day after the payment was due. This bank should be shut down or at the very least penalized for their illegal practices.
With a M&T Bank credit score of 799 and after being a loyal customer for 43 years, this bank informed me that they will be closing my accounts and that "they no longer want to do business with me". Refuse to give me a reason and never informed my local branch of this corporate decision. Somebody has to know! Doesn't even deserve one star but I had to in order to post this. Dave
I have been with M&T Bank in Rhinebeck for decades and the people who work there have been nothing but gracious, professional, knowledgeable and helpful. When my wife died last March, the principals at my local M&T were there for me as I navigated the difficulties in transferring accounts, etc.