M&T Bank

★★★☆☆
  • 1 M And T Plz # 1 # 1

    Buffalo, NY 14203

    Map & Directions
  • 716-842-5445

About M&T Bank

Details
Hours
Mon. - Fri. 9am - 5pm;Sat. - Sun. CLOSED

Finance

Finance
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3.0 1
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I have a love-hate relationship with M&T Bank. Their online banking is pretty good and in the area, they are ubiquitous so its handy. But there are a few policies they have that really irk me.

First of all, they list a transaction online when it is first made, but then, while it is processing it disappears for a while, then pops up again when it is complete. This phenomenon helped me incur 3 or 4 overdrafts until I figured out what was going on. Im a person who likes things to make sense and add up I guess. Another thing, theyll give you money out of the ATM machine even if you dont have it sometimes and then charge you an insufficient funds fee for it. It happens because they process all transactions that occur in a day in the following order regardless of when they come in: Debits beginning with the largest first (so they can get you with multiple overdraft fees on those little items), then Deposits.

So if you have a payment come out on a particular day, it wont be deducted until the end of the day, so all day long, youll think it went through and you still have money in there and theyll give it to you, but really theyre just tricking you into providing them with revenue. It doesn't matter that you had $1000 in your linked account and would have taken it out of there had you known that the "available balance" wasn't really available.... Pretty clever, but not my idea of a great bank.

Also along the those lines they raised the transaction fee on using my overdraft protection account from 50 cents per transaction when I opened the account to $10 per transaction 4 years later. Of course they notified me with a little flyer amidst all the junk mail they send. But tell me what kind of overdraft protection that is. You have to pay $10 instead of $25. They should call it an overdraft fee discount account. Plus they charge you about 20% interest with no grace period on that account. Theyre basically not competitive, bottom line. Maybe all banks are this way, but th

PROS: They're all over the place and their online banking isn't too bad.
CONS: They make it very easy for you to incur fees without realizing it.

3
★★★☆☆

I have a love-hate relationship with M&T Bank. Their online banking is pretty good and in the area, they are ubiquitous so its handy. But there are a few policies they have that really irk me.

First of all, they list a transaction online when it is first made, but then, while it is processing it disappears for a while, then pops up again when it is complete. This phenomenon helped me incur 3 or 4 overdrafts until I figured out what was going on. Im a person who likes things to make sense and add up I guess. Another thing, theyll give you money out of the ATM machine even if you dont have it sometimes and then charge you an insufficient funds fee for it. It happens because they process all transactions that occur in a day in the following order regardless of when they come in: Debits beginning with the largest first (so they can get you with multiple overdraft fees on those little items), then Deposits.

So if you have a payment come out on a particular day, it wont be deducted until the end of the day, so all day long, youll think it went through and you still have money in there and theyll give it to you, but really theyre just tricking you into providing them with revenue. It doesn't matter that you had $1000 in your linked account and would have taken it out of there had you known that the "available balance" wasn't really available.... Pretty clever, but not my idea of a great bank.

Also along the those lines they raised the transaction fee on using my overdraft protection account from 50 cents per transaction when I opened the account to $10 per transaction 4 years later. Of course they notified me with a little flyer amidst all the junk mail they send. But tell me what kind of overdraft protection that is. You have to pay $10 instead of $25. They should call it an overdraft fee discount account. Plus they charge you about 20% interest with no grace period on that account. Theyre basically not competitive, bottom line. Maybe all banks are this way, but th

PROS: They're all over the place and their online banking isn't too bad.
CONS: They make it very easy for you to incur fees without realizing it.

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