Consumer complaint received 2021-02-16
Company: M&T BANK CORPORATION
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
On XXXX, XX/XX/2021, I checked my balance on my M & T checking account and saw there was a withdrawal on XXXX, XX/XX/2021 in the amount of {$900.00} with the description of counter withdrawal. As neither my husband, nor myself had completed this transaction, I called the XXXX branch of M & T when they opened at XXXX. I spoke with XXXX XXXX, Banking Office/Senior Relationship manager who said she would investigate and get back to me. XXXX called me back a short time late, she advised that a gentleman meeting my husbands description visited their branch on Friday afternoon and completed the withdrawal. Additionally, she stated this gentleman had a valid ID and a benefits card which he used to complete the transaction. At that point, we made an appointment to go into the branch at XXXX to complete a fraud affidavit. 

Upon arriving at the branch with my husband on XXXX afternoon, XXXX explained that a gentleman by the name of XXXX XXXX XXXX had initiated a withdrawal from his account on XXXX  afternoon. XXXX showed us the signature on the withdrawal slip which clearly showed the signature of XXXX XXXX XXXX, however, the teller had filled in the account information with my account number. My husbands name is XXXX XXXX XXXX and the signature was no where near a match. XXXX then advised that we can complete the fraud affidavit just to be safe but was 95 % sure this was simply teller error. Additionally, they contact XXXX XXXX XXXX and left a message. XXXX then informed me that they were unable to correct the error and put the {$900.00} back into my account unless/until they spoke with XXXX XXXX XXXX. She did assure me that at the latest, the funds will be back into my account today, XX/XX/2021 as XXXX was a bank holiday. 

This morning, I received a call from XXXX the branch manager. XXXX confirmed this was a bank error and although it would be correct at some point today, the funds might still show as pending and I would possibly not be able to access the funds M & T took from my account in error until tomorrow. When I asked why this couldnt be corrected on XXXX when I was at the branch and it was determined the be a teller error, XXXX stated that it was because the federal reserve was closed. This makes absolutely no sense. If they wanted to wait to speak with XXXX XXXX XXXX, the {$900.00} shouldve been taken from the branchs general ledger account and given back to me immediately. This is unacceptable. Funds were taken from my account in error on XXXX XX/XX/XXXX and I wont be able to access them until tomorrow, XX/XX/XXXX????? 

I want my funds back into my account immediately. I also want financial compensation for this error as I was out {$900.00} for 4 days longer than I shouldve been. This error shouldve been corrected immediately upon discovering the teller error. Additionally, I want a written apology from the branch manager for this error and for not fixing it when it shouldve been fixed. Instead, I was given excuses.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation