[quote=“JayS,post:39,topic:38866"”]
+1
[/quote]
kudos Jay.
I’ve tried to explain this on this forum a few times in the past few years… it never seems to sink in.
Not to mention terms & conditions, and consumer ultimately responsible, and the actual error rate on deposit accounts being less then 3/10ths of a percent (at M&T specifically)…
Your forgetting the point, it doesnt matter if he is actually in the wrong or not…
Squeaky wheel gets the grease!
[quote=“FightinMike,post:42,topic:38866"”]
Your forgetting the point, it doesnt matter if he is actually in the wrong or not…
Squeaky wheel gets the grease!
[/quote]
no, no it doesn’t. people have cried about $59 annual fees on 200k heloc with a mean 150k bal and not gotten fees waived. ask me how i know. 
Ill bite…
How do you know?
(btw BOA, all you need to do is make one phone call, several times ive gotten refunds for things they really could never verify)
yea, BofA is a much “friendlier” bank for sure.
7 yrs in M&T, most recent 3 yrs as an account officer (selling & servicing consumer loans, high end deposit accounts, insurance, etc). Left ~a month ago.
Based on the account guidelines, I’d be willing to bet that this problem lies on JEG.
I’m willing to guess that JEG is not a large contributor to the bank, let alone an average one.
If there is no relationship of substance for JEG with the bank, then the odds are slim that he’ll “get his money back” unless it truly is a bank error.
You will not likely get a bank error resolved via the call center (626-1900), but if you submit an executive complaint, it will be handled with kid gloves, so to speak.
Thats about as far as I’ll go here.
haha, you guys are DICKS (M&T, I dont know you, its possible you’re a dick as well, ill reserve judgement)
another :tup: for Bank of America from me.
[quote=“JEG,post:29,topic:38866"”]
So do you have any idea what could be going on?
[/quote]
sorry i really don’t know and can’t help you as i deal with lockbox payments services. when you get that orange parking ticket from COB and mail it in…we process it, not the city.
Even my brother has had problems with over drafts (he also works part time at MnT) but he is a moron and has trouble keeping track of when he has used his card. MnT has one of the SLOWEST turn arounds for debit/credit transactions that i have ever seen. And i think this is a reason for plenty of “user” error. Usually takes 3-4 days for ANY of my gas purchases to actually post. Even my Fedex paycheck takes a whole day to actually post. But they are damn quick to take my mortgage payment every other week. I used to have to keep a tab on all transactions i had made during a week, but not very worried about that now unless some one steals me identity and me monies.
If your one of those people that keeps a small balance in their account and make lots of transactions and don’t pay much attention to your cashflow then I do not recommend MnT checking to you.
I switched to BoA last year because they have a better online banking interface,gave me $250,keep the change and better credit building opportunities.
I never had any problems with M&T.
thanks for all the advice guys :tup: I really do appreciate it. Like I had said before…They posted the money as taken out of my account on november 8th and after all transactions were complete and taken from my account, I had around $200 left. But then on the 9th, all the transactions had been hit with fees which added up to over $200. This is where I am confused. If I had the money in the bank, and they took the money out, but I had way more money in the account than was used, then why am I being charged over $200 in overdraft fees? and how is that not a banking error?
[quote=“FightinMike,post:46,topic:38866"”]
haha, you guys are DICKS (M&T, I dont know you, its possible you’re a dick as well, ill reserve judgement)
[/quote]
I don;t think that I’ve ever said M&T wasn’t. :gotme:
On the other hand, their stock has been one of the best overall performers in the sector over the last 10-20 years, and they are now one of the top 10 regionals, nationally. :shrug:
I left them for a better gig, but my banking is still there. Never had a problem with any of my accounts.
Oh, and for JEG, I definately recommend BofA… much friendlier based on what I’ve seen out of you. :tup:
[quote=“Nikuk,post:51,topic:38866"”]
I don;t think that I’ve ever said M&T wasn’t. :gotme:
On the other hand, their stock has been one of the best overall performers in the sector over the last 10-20 years, and they are now one of the top 10 regionals, nationally. :shrug:
[/quote]
they were in the top 5 on a couple of FORBES lists last year. and they keep aquiring other local branches (buffalo, rochester). so they must be doing something right.
hey $400 is $400, i have $2.28 in my M & T account lol. the only reason i semi trust them is corfu is a small enough town to know everyone that works in there.
Balance isn’t the same as available balance. As JayS said, your available balance is determined by any holds you have on your account. So, while you were doing whatever with your tires, they likely had a hold on your account for $200, while your actual balance was $2xx. Depending on how they do their statements, it would look like your balance remained at $2xx, while for those few days your available balance was actually closer to zero. Depending on the banks debit card and fee structure policies, any transactions made will still go through (rather than being declined), and go into an overdraft balance, each time having a fee assessed (usually $30-40 per instance).
For a low balance checking account, these fees are they only way banks make money off of the accounts. Depending on the kind of statements you get (paper mail, email, etc), nearly all accounts with an average balance less than $1k actually cost the bank more money than they’re worth, as the transfer pricing for such a small balance (usually against a target such as the FHLB overnight rate) doesn’t cover the cost of preparing and mailing the statements.
So in the end, chances are it was your fault, but a friendly bank would probably refund most or all of the charges. Keep in mind though that whatever they just charged you in overdraft fees is essentially all the money they’ve ever made off of you. If you were a large customer with sizable balances, I guarantee they would have waived all the fees instantly.
My bet is in the end they will take some of the charges off but you will find it has to do with when and how they post things. It will end up being your fault but they will let you out of some of it.
Banks suck, it’s a fact of life. The same exact thing happened to me last year. 7 bounced checks due to timing. I got them to remove 5 after a bazillion calls. Added overdraft and A-OK now.
[quote=“KuntryQuestTSi,post:53,topic:38866"”]
hey $400 is $400, i have $2.28 in my M & T account lol. the only reason i semi trust them is corfu is a small enough town to know everyone that works in there.
[/quote]
Thats where my account is lol.
yeah Like I said though. the statement that the woman gave me is a wright up of when they money was posted (as in taken out of my account, not just held). So thats why I am so pissed off.
[quote=“greenbull,post:48,topic:38866"”]
Usually takes 3-4 days for ANY of my gas purchases to actually post.
[/quote]
thats because thats when they hand in the recites to be paid its not done right here right now. mastercard or visa ( i dont know what MnT uses) but they approve them first not the bank.
also you can have a transaction out there for a year and they will still be honored like lets say you buy something from a “ma and pa” corner store that dont deal with debit cards too much and hand in the recites like once a month or once every 2 months and if you dont have money in the account its automaticly honored and comes out of your account weither you have it there or not its going to leave you with a neg balance and now the NSF fee.
this just happened to me not a month ago, over 500 in overdraft/various fees…complete bullshit