I've been a customer of M&T Bank for 5 years. During that time I've had one incident where I overdrew my account. I went to the branch and corrected the problem by making a large deposit to cover the exponentially increasing insufficient funds fees.
This past weekend I found my account was overdrawn due to funds being withdrawn before a deposit was credited. Assuming this was my fault, I made a depost Saturday evening to cover the fees and any potential outstanding charges that could have been outstanding. Monday morning I checked my account online and it showed an available balnce. Tuesday (today) I checked the account again to find another $111 in insufficent fund fees, despite showing an available balance.
I called the bank this evening to learn the available balance showed on Monday wasn't the available balance. I was informed the insufficient fees debited on Monday were incurred on Sunday. They further explained that insufficient funds fees are debited the day AFTER they are incurred. So, in their explanation these fees were charges from Sunday, charged Monday night, showing debited on Tuesday. I was further informed my available balance shown on Monday was not correct as all of my deposit made Saturday night was night available until today (Tuesday), and there were at least 4 more insufficient funds fees due to hit tonight (charges from Monday which will show up on Wednesday).
I'm all for being responsible. But, how could I know there were pending insufficient funds fees from Sunday if I was not made aware, and they were not debited to my account, until Tuesday? And, if my account shows an available balance, how am I to know there are outstanding fees posting from two days ago, and therefore my available balance, isn't available?
This seems deceptive to me. I'm lucky, I have my main account at my credit union and can withdraw cash tomorrow to settle, and DEFINITELY CLOSE my account at M and T Bank. But, there may be many who aren't as lucky and an episode like this could really leave them in financial ruin. So, I decided to post here instead of shutting up and swallowing the crap like a good girl.