Consumer complaint received 2017-03-09
Company: M&T BANK CORPORATION
State: NY
Product: Bank account or service
Sub-product: Checking account
Issue: Account opening, closing, or management

Complaint:
Good afternoon, a few months ago my mother received a letter from her bank, M and T, notifying her of the need to confirm contact information for her two checking accounts. Her name is XXXX XXXX. As her Power of Attorney, my name, XXXX XXXX, is also listed on the account. Immediately, my mother contacted the number provided on that letter to confirm all contact information. She asked if i needed to call to verify anything else. She was told that everything should be completed with the contact information verification. But, no confirmation number was ever given to her to show that she had even contacted the bank. Yesterday, XXXX XXXX, my mother receives a notice dated XXXX XXXX that her two checking accounts had been closed on XXXX XXXX. Included in the envelope were two checks for the proceeds in each of the accounts. No communication prior to XXXX XXXX was received specifying that her accounts would be closed on XXXX XXXX. She immediately called the local XXXX, NY branch. She was told that she would receive a call back once they looked into her accounts. After about an hour, she went in to the same branch and spoke to XXXX XXXX, Assistant Branch Manager. XXXX explained that the accounts had been closed because contact information had not been updated, as mandated by the government. My mother explained that she had followed the directions on the letter and verified all of the information provided. XXXX shared that this apparently was not successfully accepted on the side of M and T Bank. Although XXXX was nice, her hands were tied. She explained that all of the checks that were floating to vendors would bounce if we did not contact the vendors in time. She also explained that the Social Security deposit which my mother uses to pay her bills would be rejected as well. The most upsetting check that was written was to our local church, XXXX XXXX XXXX, for the annual memorial mass my mother holds for my deceased father. All of this is very embarrassing for anyone at any age, especially for a senior citizen. My mother contacted me, in tears, at my place of business. I met her at the branch to help her sort everything out. We were required to open two new checking accounts and deposit the two checks that had been sent in the mail. We were told that although the funds were drawn on the same bank, the funds would not be available until the following day, XXXX XXXX. Ultimately, my complaint is based on the following : 1. A confirmation process should have been in place to show that the action requested by the bank had been successfully received. A confirmation number should have been provided. 
2. Prior to closing the accounts a notification letter should have been sent prior to the closing of the account, not after the account is already closed. 
3. Once the accountholder realized the accounts had been closed in error and notified the bank in person, there should have been some sort of protocol for the local branch employees to follow in order to remedy the situation. 
4. Funds should immediately be available if a proceed check is drawn on the same bank for immediate access to funds. 
In my opinion, I believe that this is a systemic problem within M and T Bank. The implementation of this government mandated compliance was not well planned. After taking to social media to share this experience, it became apparent that this has happened to many other accountholders at M and T Bank. My goal is to help other accountholders avoid this experience and create a remedy for those experiencing the same problem. Thank you for your attention to this matter. 

XXXX XXXX

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