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.
This bank is worst bank I have ever seen, they charge me 345-375 dollars everymonth as a service charge,even though they do not like my account, the manager told me bank is not happy withme, They close my account and also charge me 146 to close my account. Please do not open account with this bank.
I have been a member of this bank for ten years. I have 3 accounts with this bank 2 of which are direct deposits, one from a pension and one from social security. I keep at least 5000 in one at all times. I have a credit score of 730 and an annual combined income of 125,000. I have one short sale that occurred in 2010 with sun trust bank for which the property was sold and accepted by sun trust for which i was freed and cleared of any further obligation to sun trust.
This bank turned me down for a 20,000 loan for medical dental treatment that i need to have done. After i spoke with the underwriter for this loan( eydie), she said to submit proof from sun trust that i was free and clear of any debt to them and they would re-consider. I did and this bank still turned me down. There are several things that anger me about this inconsiderate mega bank. I have a good income,i keep a good credit score like they tell you to do,i have even secured two mortgages since the short sale,but most of all what really,really hurts is how i risked my life to serve this country so that m&t bank could continue to thrive and do well in this great and wonderful country and also so that they could freely say to me sorry you are not worth the risk soldier