Checking or savings account -- Managing an account -- Complaint #4524218
Complaint Overview
Complaint ID: 4524218
Company: M&T Bank Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Maryland
ZIP Code: XXXXX
Date Received: 2021-07-07T12:00:00-05:00
Date Sent to Company: 2021-07-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/2021, I called customer service at M & T Bank, where I have a checking account. I asked about the policy related to the negotiation of a USPS money order. I was told that maybe the XXXX, Maryland branch would cash it, but my funds could be held for up to five days. I attempted to cash the {$1000.00} USPS money order at M & T Bank, XXXX, Maryland. First, the cashier said that she could not cash it. The manager then stated that I could deposit the USPS money order in the ATM and withdraw {$250.00}. I deposited the money order and was not able to withdraw {$250.00}, so the manager overrode the system, giving me {$250.00}. However, this caused my account to be overdrawn. I then received a highly offensive letter from M & T Bank dated XX/XX/2021 stating that " We have information that indicates that the check may not be paid '' -- essentially accusing me of the unlawful act of attempting to pass a fraudulent money order ( they referred to it as a " check '' in this offensive letter ). This offensive letter further stated, quite falsely that, " These funds will be available on the 5th business day after the day of your deposit. Ten calendar days and seven business days have passed, and I still do not have access to my funds. M & T 's app and website both indicate that I have an available balance of $ XXXX, yet when I attempted to transfer funds to my other bank account, I received an extremely offensive email that fraud had mostly likely occurred on my account. I called M & T 's customer service again. The agent " promised '' me that my funds would be available by the morning of XX/XX/2021 -- erroneous and false information. Relying upon this false statement XXXX, once again, attempted to transfer funds to my other bank this morning, XX/XX/XXXX. I was unable to transfer my funds as they are still not available. Since depositing my USPS money order, each time I have attempted to access my account, whether via the app or the website, I am asked security questions. This is also quite offensive to assume your customer is a criminal for depositing a financial instrument. I called customer service, yet again, this morning. I spoke with the first helpful customer service agent, a supervisor named XXXX. She informed me that although I had received assurances that my funds would be available, a fraud investigation has been launched and she did not know when my funds would be available.
Frequently Asked Questions
What is Complaint #4524218 about?
Complaint #4524218 was filed against M&T Bank Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2021-07-07T12:00:00-05:00.
How did M&T Bank Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against M&T Bank Corporation?
Yes, visit the M&T Bank Corporation company profile at readthecomplaint.com/company/m-t-bank-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.