• Report: #216164

Complaint Review: M And T Bank

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  • Submitted: Tue, October 17, 2006
  • Updated: Tue, October 17, 2006

  • Reported By:College Park Maryland
M And T Bank
www.mandtbank.com Internet U.S.A.
  • Phone:
  • Web:
  • Category: Banks

M And T Bank Predatory Banking Internet

*Consumer Suggestion: For complete information...

*Consumer Suggestion: For complete information...

*Consumer Suggestion: For complete information...

*Consumer Suggestion: For complete information...

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This bank has a practice of giving a balance which is completely accurate as well as allowing credit charges to go through even though funds are not available in the account.

I deposited funds on Oct 7. I then used my check card to purchase items. Apparently, the bank offers a "convenience" of allowing charges to go through even though the funds were not available. This resulted in overdraft fees.

Apparently when a merchant processes a transaction with the bank, the bank allows the transaction to proceed even though there are insufficient funds.Why the charges are not denied I do not know

Also, when deposits are made it is not stated on the ATM receipt that the balance is not accurate. Only one balance is listed which includes the deposit amount. There is no mention of the hold or the length or time for the hold on the ATM receipt or the online ledger.

Speaking with the customer service manager and rep were useless. They considered allowing credit transactions even though a deposit is on hold a "courtesy". I consider it Predatory Banking

V.E
College Park, Maryland
U.S.A.

This report was posted on Ripoff Report on 10/17/2006 12:24 AM and is a permanent record located here: http://www.ripoffreport.com/r/M-And-T-Bank/internet/M-And-T-Bank-Predatory-Banking-Internet-216164. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

For complete information...

AUTHOR: Robert - (U.S.A.)

read through your account terms and conditions you received when you opened your account. It should provide you with detailed information on your banks policies for hold times on deposits, check card holds and ATM or POS overdraws.

Everything you will need to know will be in there. The more you know about your banks policies the better you will able to manage your finances.
Respond to this report!
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#2 Consumer Suggestion

For complete information...

AUTHOR: Robert - (U.S.A.)

read through your account terms and conditions you received when you opened your account. It should provide you with detailed information on your banks policies for hold times on deposits, check card holds and ATM or POS overdraws.

Everything you will need to know will be in there. The more you know about your banks policies the better you will able to manage your finances.
Respond to this report!
What's this?

#3 Consumer Suggestion

For complete information...

AUTHOR: Robert - (U.S.A.)

read through your account terms and conditions you received when you opened your account. It should provide you with detailed information on your banks policies for hold times on deposits, check card holds and ATM or POS overdraws.

Everything you will need to know will be in there. The more you know about your banks policies the better you will able to manage your finances.
Respond to this report!
What's this?

#4 Consumer Suggestion

For complete information...

AUTHOR: Robert - (U.S.A.)

read through your account terms and conditions you received when you opened your account. It should provide you with detailed information on your banks policies for hold times on deposits, check card holds and ATM or POS overdraws.

Everything you will need to know will be in there. The more you know about your banks policies the better you will able to manage your finances.
Respond to this report!
What's this?
Report & Rebuttal
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