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Report: #541785

Complaint Review: M & T Bank - Owings Mills Maryland

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  • Updated:
  • Reported By: Moe — Owings Mills Maryland United States of America
  • Author Not Confirmed What's this?
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  • M & T Bank 9840 Reisterstown Road Owings Mills, Maryland United States of America
  • Phone: 410-363-1617
  • Web:
  • Category: Banks

M & T Bank NSF charges wheven when deposit was made same day to cover debits, charges debits over credit first thereby charging NSF fees Owings Mills, Maryland

*Consumer Comment: No Kidding...

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I knew that certain debits would submitted so I made some deposits on the same day around noon. After deposit was made the receipt showed a positive amount, the next day 3 NSF fees were on my account. I have been leveled by this big corporate pig & really wanted to see what will happen if the deposit was made in the same day, well i got my answer. I have talked with numerous people & they all are getting out of M & T . I went to the bank today because really there was nothing they could tell me that I figured out anyway. I was told that debits are over credits first. I was told the system is set up this way & of course no human intervention was responsible & I should make sure the funds are available(NO KIDDING). I gave him a departing blasting. What does this have to do with accounting? M & T als ohas delays in their account & you better believe if they hold a credit the debit & the NSF appear.They are ripping folks off & they better get out while they can, I am sure many people like myself have been robbed all year by M &T with their high NSF fees. They have reps working who can resolve such matters, I understand if a debit hits one day & the money hits the next day but give me a break, if we don't bank with them then what. I urge everybody get out while you have breath. As the numerous M & T commercials say here in Baltimore, the Ravens player Todd Heap has it, well he can keep it because he's going down hill also. I will be contacting creditors & arranging new due dates to coincide with my paydays, my spouse was laid off since March 09, she is now in training Thank God. Once I have set new pay arrangments I am out of that M & T dog house very soon. I encourage folks to try the credit unions.

, I understand that but the same day things even out & NSF should not be charged. Of course they said the system is set up this way ( NO KIDDING)

This report was posted on Ripoff Report on 12/18/2009 12:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/m-t-bank/owings-mills-maryland-21117/m-t-bank-nsf-charges-wheven-when-deposit-was-made-same-day-to-cover-debits-charges-deb-541785. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

No Kidding...

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

POSTED: Friday, December 18, 2009

I should make sure the funds are available(NO KIDDING).

- The bank was right.  No matter what finanical institution you go to, you MUST make sure the funds are available before you attempt to use them. 

Now, I really can't tell if this is a totally serious report.  Because I find it very hard to believe that someone would be dumb enough to do what you have said.  In that it appears you knew what the polices were, you knew you had debits coming in.  But you wanted to deposit money on the same day just to "see what happens".  If there was any RipOff it was who ever suggested to you that that is a bright idea.

Although with some of the reports people post, this sadly is not that far fetched.

Now, if they post Debits before credits, and you are aware of that what is the complaint?  Move to a bank that does not.  However, be careful to think that is an automatic fix.  As banks also all follow the Federal Funds Availability Act so even if you get a check in on a certain date it may not be available until the next day(or longer).  If you think cash is always made available right away, this is also not always the case.  As every bank has cut-off times for deposits, some as early as 2pm, others may have a 6pm cut-off time.  If you get cash in after that cut-off time it will not be available until the next banking day.

I will be contacting creditors & arranging new due dates to coincide with my paydays,

- Brilliant idea..Seriously.  Your checking account is NOT a line of credit.  So if you are writing checks to creditors because of the due date.  You either need to take the "hit" from the bank for writing checks(or submiting ACH transactions) when you don't have the money.  Or you take the "hit" from the creditor for being late with your payment.  If you can get your creditors to adjust their due dates that works out best for you. 

I would bet that you don't want to pay your bills late because you know of the damage that can do as well, and depending on the type of account could actually cause you more money in the long run than the OD fees are costing you now.  So in effect until you get the creditors to change YOU have made the choice to take the "hit" from the bank.  As an example just think about Credit Cards.  A late payment could automatically put you into a higher rate.  Just think of the increased interest you are paying when the rate goes from your 10%-19%(or what ever) to the default rate of 30%.

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