Consumer complaint received 2022-06-09
Company: M&T BANK CORPORATION
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
XX/XX/XXXX I went online to M & T 's website in order to open a checking account to leave XXXX as M & T held my mortgage after speaking to the mortgage department about offers for mortgage customers and they directed me there as they did not have any info. On their site it stated that I could open a premier checking account without a monthly fee as the foot note states " Maintain combined balances of {$25000.00} or more in eligible personal deposit accounts, loans and home equity outstanding balances, investments, and business deposit accounts. For detailed information, please refer to the Specific Features and Terms for each account, which are available upon request at any M & T banking office or through M & Ts Contact Center. '' Being that my mortgage loan is above that limit, it should have been free. I received a call from a banker ( male ) at the XXXX XXXX XXXX thereafter in which I had questioned why I was charged {$25.00} since they service my mortgage & his response was that it shows a charge but it also shows a credit and that it is not impacting my account. I open a money market as it was an offer on my online banking that could also be waived due to my mortgage balance. I opened that and then I saw a charge and a waiver, unlike the checking. On XX/XX/XXXX I called into M & T bank customer service line to inquire as to why I was still being charged to which I was told I needed to chat with the mortgage department. The mortgage department was the original department to tell me they did not have that info so I declined a transfer and requested a supervisor. After being told to wait on hold I STILL did not receive a super and instead was given more of a runaround. I still requested a super and finally got one. She was a self proclaimed XXXX  year veteran of M & T/banking and yet somehow tried to tell me a mortgage is not a loan. I am an XXXX... XXXX XXXX XXXX XXXX. She then went on to say that she sees where on the site it says to reach out to a contact center for more info, however footnote 6 is clearly unfair and deceptive since she stated " it is only for retail loans ''. If that is the case, it should be listed as such and not as " Maintain combined balances of {$25000.00} or more in eligible personal deposit accounts, loans and home equity outstanding balances, investments, and business deposit accounts. '' I then got disconnected but she refunded a couple of fees. I spoke to the branch location because the fees impacted my record keeping and therefore subjected me to overdrafts, returned items impacting me with other creditors, and distress. The banker ( female - XXXX I believe ) was the woman to help me the most by raising this to her manager and was able to refund about 1/2 of my fees due to this. When I asked when I would hear about the rest she said she would try but that was the most they could do. When I raised a UDAAP concern, she then stated she would call me back. The manager then called me XX/XX/XXXX ( XXXX ) and we discussed it and he agreed it was deceptive ( recorded call ) however he was " only one guy in the branch and can only raise this to his boss ''. I find this unacceptable. To not only know there is an issue, but to claim there may be others like you impacted, but this could take months to fix. All due respect, a multi million dollar bank charter should be able to update their web copy and their brochures with ease as soon as the compliance violation is acknowledged.

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 monetary relief