Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #7171009
Complaint Overview
Complaint ID: 7171009
Company: M&T Bank Corporation
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Fraud or scam
State: Virginia
ZIP Code: 22701
Date Received: 2023-06-26T12:00:00-05:00
Date Sent to Company: 2023-06-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
In XX/XX/2023, I received a wire transfer of {$21000.00} from M & T Bank into my NFCU account. After XXXX to XXXX days, M & T reversed the wire and removed my personal funds from my account and caused my account to be closed for receiving " unauthorized '' funds. This has caused me great harm. The clearly signed bank wire slip was prepared and authorized by the M & T employee at the XXXX XXXX, name XXXX XXXX, who I called and spoke with, and the sender, XXXX XXXX XXXX. ( XXXX attached. ) M & T prepared the wire and validated it by sending it out through their clearing system. The transfer must have been valid at that point and completed. The reversal of the wire made the funds proceeds of crime in the manner that it was recalled which caused me great harm. M & T enabled their client, the sender, to cash out of her commitment, leaving me on the line for {$21000.00} and causing my newly opened account to be shut down and my personal funds taken. Other funds were thereafter blocked causing me further hardship and inability to pay my bills. I will be requesting from the XXXX XXXX XXXXXXXX an answer as to how an " unauthorized '' wire can be sent over their clearing network. I am unable to access my bank statements as my online access to my account has been blocked to penalize me. I am the XXXX XXXX XXXX victim of M & T and their client, XXXX XXXX XXXX. When I spoke with my bank, they advised me to contact M & T and the sender. I wrote to XXXX XXXX XXXX, Chairman and CEO and XXXX XXXX XXXX, XXXX and XXXX XXXX M & T. Their less than satisfactory reply was that " due to privacy concerns '' they were " unable to provide [ me ] with a response ''. They then suggested " contacting XXXX XXXX directly to further address this matter ''. ( Copy attached. ) I have tried to contact XXXX XXXX and have verified receipts that my emails to her were received and opened. ( Copies attached. ) However, she has failed to respond. She and M & T are refusing to provide information that I am entitled to as they used my account.
Frequently Asked Questions
What is Complaint #7171009 about?
Complaint #7171009 was filed against M&T Bank Corporation regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2023-06-26T12:00:00-05:00.
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 (Money transfer, virtual currency, or money service) 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.