- Report: #1404442
Complaint Review: M &T Bank - White Plains New York
Reported By:
NYS employee and resident -
Valhalla, New York, USA
Submitted:
Updated:
-
Author Confirmed
Why?
M &T Bank
320 Mamaroneck Road White Plains, 10605 New York, USA
Phone:
9143280565
Web:
https://www.mtb.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
M &T Bank M& T bank charges not one but Two overdraft fees of $37.50 within 4 days of each other. They do not help with disputes to your account, make you jump through many hoops although every bank is equipped to and insured for disputes. White Plains New York
M & T Bank charges not one but two overraft fees of $37.50 where most banks will charge one. And they dont tell you this when you open the account.
They make you jump through many hoops if you wish to file a dispute.
Even if your account is inactive for 2 months and you no longer use the account, and a random charge comes thru of any amount from 5.00 dollars, they will charge you with a $37.50 fee as many times as a charge hits the account whether or not the debit is authorized.
Other banks automatically close your account if inactive for 30 days to protect the consumer.
When you make a bill payment, the actual day you make it is not reflected on the statement. It will show as 1-2 days after which is hindering to keeping accurate financial records.
I finally had to close my account. With all of these issues and their inconvenient banking hours, it was frustrating.
M & T bank however makes great profits off customers with their fees but they dont give much back.
2 Updates & Rebuttals
Striderq
Columbia,South Carolina,
USA
Question for you---
#2General Comment
Thu, October 05, 2017
You state that "Other banks automatically close your account if inactive for 30 days..." Where exactly do you get this information??? I've never known a bank to close an account for inactivity until at least 6 moths of absolutely no customer initiated activity. If banks closed accounts as fast as you claim, this site would be full of people complaining about it.
As the other poster stated, each time an item tries to process against the account and there's not enough money to cover it, the bank (every bank) will charge you a NSF fee. Doesn't matter the amount of the debit or the number of times it's presented, one fee each time. Something you agreed to when you opened your account. Standard policy with every bank I know of.
If you file a dispute the burden of proof is on you. So you have to fill out the proper forms and provide the evidence, or as you state "jump through hoops". Again standard at all banks.
Doesn't matter when the payment posts to your account. Subtract payments/debits when you authorize them, add credits when they post to the account and you will have accurate record that helps keep you from overdrafts.
coast
Florida,USA
You mismanaged your account
#3Consumer Comment
Thu, October 05, 2017
“M & T Bank charges not one but two overraft fees of $37.50 where most banks will charge one.”
There is no limit on the number of overdraft penalties levied by a bank. It is typical to expect one penalty for each overdraft or each attempted overdraft.
“a random charge comes thru of any amount from 5.00 dollars, they will charge you with a $37.50 fee as many times as a charge hits the account whether or not the debit is authorized”
You claim the charge is random and then you claim it is unauthorized. So which is it? Was it an unlawful transaction or an automatic deduction you failed to cancel?
“When you make a bill payment, the actual day you make it is not reflected on the statement. It will show as 1-2 days after which is hindering to keeping accurate financial records.”
It may take 1-2 days for a transaction to process from a merchant to the bank. Simply enter the transaction into your check register, and then it makes no difference how long it takes to post.
It is evident that you failed to properly manage your account. That’s not the fault of the bank.
