Consumer complaint received 2019-10-25
Company: M&T BANK CORPORATION
State: PA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
My account with M & T Bank was opened on XX/XX/XXXX. I was told that after XX/XX/XXXX, checks I deposited would no longer be held for 5 business days. On XX/XX/XXXX I deposited my payroll check, which was available the next business day. Since that went through fine I figured I was okay to transfer, via check, money from a separate account I own, but had lost my atm card for. These transfers were time sensitive because my daughter is supposed to be having XXXX and I needed access to those funds to pay for it. On XX/XX/XXXX I deposited a {$1000.00} check. I was told {$250.00} would be available immediately and {$750.00} would be available the next day. So on XX/XX/XXXX when the funds weren't available I called and was told that there was a 1 business day hold and the funds would be available on XX/XX/XXXX. Believing that, I wrote another {$1000.00} to transfer more money from my other account. Based on what I'm STILL seeing online {$250.00} would be available on XX/XX/XXXX and the balance 1 business day later. 

This morning I woke up expecting to see a balance of about {$1000.00} in my account. So when I looked and there was only {$1.00} I was deeply worried. I immediately called M & T Bank where I was told that a 4 business day hold was placed on these checks. Now, per their OWN funds availability documents, they are to notify when a hold is placed. I received no notification. Not a call, not an e-mail, even my online account STILL shows that these checks should have cleared by now. But instead I had to put off my daughters XXXX yet again, while M & T secretly changes hold dates with no notification to me. 

Additionally, something I find troubling. Late at night when I was checking my account, it was showing as - {$990.00} overdrawn. I have NEVER been overdrawn by that kind of money. The most I was ever overdrawn was {$5.00} when I forgot about atm fees. And immediately resolved the problem by depositing cash into the account. 

I also received a notice on XX/XX/XXXX via M & T website that was a Notice of Insufficient Funds. Again, they were showing my account hundreds and hundreds of dollars overdrafted when it's NEVER been overdrafted like that. 

I would like answers to why M & T is falsely sending these notices to make it look like my account is always in the negative and WHY they are holding my money with no notice to me, but making it look like it should be available on their website. 

When I called and spoke to a supervisor he basically said he'd reach out to the department responsible but that I wouldn't hear back from him until Monday because he was leaving the office today at XXXX. Not even an offer to have another supervisor reach out to me. Just ... wait til Monday. No concern for my kid who will now have XXXX pushed off yet again. Which is costing me money every time I rescheduled.

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