Consumer complaint received 2025-11-17 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Problem with paying off the loan
Company: M&T BANK CORPORATION
State: FL

Complaint narrative:
To whom it XXXX concern : We have been trying to pay off our RV loan account at M & T Bank since XX/XX/year>, via a wire transfer for {$22000.00}. An M & T Bank customer service representative provided us with the wrong account number. As of XX/XX/year>, M & T Bank has not processed the transaction and credited our account. We have called them daily to resolve the situation and have been told numerous stories about how long it would take. The details of each days conversations are detailed below for your examination. 

On late afternoon XXXX XX/XX/year>, I sent a wire transfer request from my bank, XXXX XXXX XXXX XXXX XXXX FL XXXX M & T Bank located at XXXX XXXX XXXX in XXXX, New York. ( See attached wire receipt ) The wire transfer was sent at XXXX on XXXX XXXXXX/XX/year>. As of XX/XX/year>, at XXXX, the wire transfer has still not been credited to my loan account at M & T Bank XXXX 

On XX/XX/year>, I spoke with an XXXX at M & T Bank customer service and asked her for wire instructions which she provided over the phone. Later that afternoon I went into my bank branch office and was in the office with the Branch XXXX and we decided to call M & T Bank back and confirm the wire instructions were correct before we sent a wire for {$22000.00} to pay off our RV loan in full as we had a buyer lined up and needed the title ASAP. I spoke with a female named XXXX  ( Ref # XXXX ) who advised me upon me reading the M & T beneficiary bank account number to her that that number should be my loan account number, and she did not know why they had provided that other account number to me earlier as that was an account for short sales. So, we sent the wire with my loan account number XXXX as the beneficiary account number. 

I received a call from my bank on XXXX XXXX XX/XX/year>, stating there was a problem with the wire. I immediately contacted M & T Bank who informed me that my loan account number was not the correct account number and they proceeded to inform me that the correct number was the one that XXXX had provided to me earlier on the day of XX/XX/XXXX. They stated they could see that the funds had arrived, but that they could not process the transaction. They informed me that their procedure would be to have my bank request the funds back and then I would have to re-wire the funds with the correct account number. I inquired as to whether they could just credit the funds to my loan account since they already had them on hand. It seemed silly and a waste of time as well as costing another {$25.00} in wire fees for a situation they caused through their mistake. The rep inquired about this with the wire room and stated that they could process the transaction, but it would take up to 3 days to complete. So, we agreed that it would work for us. 

On XX/XX/XXXX, we looked online a found that M & T bank had debited our account for {$3500.00} based on a request to return those funds 10 days earlier as were had erroneously made a double payment of that amount Thus we then knew that our loan payoff was going to be short by {$3500.00} so we immediately sent a wire to the correct account number on XX/XX/XXXX for {$3500.00} to cover any extra loan interest charged. ( See attached Wire Receipt ) We called M & T Bank that day to discuss both the {$3500.00} wire and they informed us they could not recover the {$3500.00}. Thus, we sent a new wire out, incurring another {$20.00} outgoing wire fee and a {$5.00} wire fee for the incoming funds. 
On XX/XX/year>, we contacted M & T Bank customer service to get updates on both the {$22000.00} wire and the {$3500.00} wire. 
On XX/XX/year>, our account was credited for the {$3500.00} wire. ( See attached account screen print ) We called to inquire why the {$22000.00} wire had still not been processed when the other wire was sent subsequently and was already credited to our account, we were informed that it would be credited to our account anytime now. 
We called back on the afternoon of XX/XX/year>, and eventually were transferred to supervisor named XXXX ( REF # XXXX ). We informed XXXX that we were recording the conversation. XXXX XXXX stated that it could take 3 to 5 days to process the transaction. I informed him that it was already the end of the fifth day since M & T received the wire transfer. After calling the wire team, XXXX admitted that M & T provided us with the wrong wire information. Additionally, XXXX stated he received an email from the back office ( XXXX Department ) that stated they could not see the $ XXXX because of the incorrect information. However, he later admitted that they could see the $ XXXX wire, but that they are not recognizing it or applying it. He stated the wire team doesnt know where it needs to be applied so they didnt send it and wont send it to the back office ( XXXX Department ). We informed him that the wire instructions contained my account information multiple times. He also stated that problem resolution ticket requests from the XXXX XXXX depart to the back office ( XXXX XXXX ) regarding the XXXX wire got closed because they said they only saw the {$3500.00} wire and that it had been successfully processed. This XXXX imply the wire department, who can still see the XXXX had not yet sent the transaction to be processed by the loan department who apparently can not see the XXXX until they receive it from wire team. He further stated they would not process the transaction and that he recommended it would be best if we just had my bank request the $ XXXX wire be returned. I informed him that this was exactly the opposite of what everyone at M & T Bank had informed me of since XXXX, XX/XX/year>, and his first statement to us today. He further stated that when M & T receives the funds again, they can request to have it backdated to the original date sent, XX/XX/XXXX, but he could not guarantee the request would be honored. We asked for phone numbers for anyone outside of the customer service department and he stated he could not provide any phone numbers or email addresses. 

XX/XX/year>, went to my bank to have them send a wire request to M & T Bank to return the $ XXXX in funds. This was completed by my bank. 

XX/XX/XXXX, XXXX was a XXXX XXXX and thus the bank was not open. 

XX/XX/year>, I went to my bank and made a call to M & T customer service on speakerphone with my wife and the branch XXXX and spoke with a customer service rep named XXXX inquiring why the $ XXXX in funds had not been sent back within the XXXX period as required by law. She could not help in resolving the situation with the $ XXXX wire so we asked to speak with a supervisor and were transferred to XXXX, who later admitted she was not a supervisor. At that time, I was transferred to XXXX, an actual supervisor ( REF # XXXX ). XXXX contacted the wire room and or the back office and was informed that they were ready to process the $ XXXX wire and credit it to my account but couldnt do so because there was a wire request to return the funds from my bank in place. XXXX advised that if we were to have my bank rescind the request to return the funds then they could process the transaction in the next couple of days. XXXX agreed that since it was M & T Banks fault the wire was sent to the wrong account that she would send a request that the receipt of the XXXX wire be back dated to the date it was originally received so that the loan payoff would not be short due to all the interest charges incurred since that date. Additionally, she agreed to also request interest credits for the {$3500.00} that we received on XX/XX/XXXX that M & T back dated 10 days as if they sent it to us 10 days earlier thus causing us to incur and additional 10 days of interest charges in which the moneys were in M & T Banks possession, not ours. XXXX stated she would contact us no later than XXXX XX/XX/XXXX to give us an update on where we stood with getting interest credits applied to the account so that there were sufficient funds to pay off the loan. I provided my cell phone number to XXXX. 

XX/XX/year>, we called M & T Bank and spoke with a supervisor who did not know anything about the matter, and she offered to transfer us to XXXX who we spoke with yesterday. We were informed that XXXX was not available, but that she would leave her an email stating it was urgent that she get back with us to give an update on the matter. She took my phone number to provide to XXXX. We did not receive a return phone call from XXXX. We did not receive credit to our account for the $ XXXX and thus, M & T Bank is in violation of the XXXX processing laws AGAIN. 

First thing XXXX XXXX  XX/XX/year>, we checked online to see if our account had been credited for the $ XXXX wire and it had not. However, we discovered that for some unknown reason M & T had reversed our wire transfer of {$3500.00} we sent to them on XX/XX/XXXX, XXXX and had also reversed our XXXX payment made online on XX/XX/XXXX. ( See attached loan account screen print ) M & T backdated both transactions to look like they had been made immediately upon receiving the funds. Thus, the balance owed to paying off the loan increased by {$3600.00}. We had no idea why they would have reversed either of these transactions as we had not made a request to resend the wire transfer or the ACH payment made on their website. We checked with our banks wire room to determine if either {$3500.00} or the {$100.00} had been returned to our account and they said they did not receive them and that there were no wires pending from the Federal Reserve in those amounts. Thus, we had our bank branch XXXX, XXXX XXXX, XXXX M & T Bank who spoke with a customer service representative who could not help with anything, so he asked to speak with a supervisor, preferably XXXX, whom we spoke with on XX/XX/year>. M & T put him on hold for XXXX minutes then hung up on him after returning to the phone line twice during that period. Immediately after, at XXXX, I called M & T Bank and asked for a supervisor. I was transferred to XXXX, a supervisor. After informing her we were recording the phone call and explaining the situation, she called the wire room and she provided the following explanation. She stated she was informed by the wire room that both the reversals for {$3500.00} and {$100.00} had both been made on XX/XX/year>, even though they were reflected on the online statement as occurring on XX/XX/XXXX and XX/XX/XXXX, respectively. the dates both payments had been made to them. Screenshots we took of the account on XX/XX/XXXX do not reflect either of theses reversals, so they must have occurred after the screenshot was taken. After speaking with a wire room supervisor, XXXX reported that the $ XXXX wire they received from us on XX/XX/XXXX was sent back to our bank on XXXX XXXXXX/XX/XXXX. Our bank rechecked with their wire office and did not receive any returned wire for $ XXXX or the {$3500.00} or the {$100.00} XXXX being re-deposited to our account. XXXX stated it could take up to 10 days for the wired funds to be returned. XXXX speculated the {$3500.00} wire was sent back because something was apparently wrong with the wire. The wire room could not see the {$3500.00} wire or trace it as it was done by the XXXX Department, also frequently referred to as the back office. She explained that neither her office or the wire transfer office was able to see anything of the back office transactions as of today and thus they had no idea why the {$3500.00} or the {$100.00} ACH payment was reversed. She explained that since these reversals just occurred yesterday that by XXXX XXXX XXXX of next week, they should be able to see the transactions in their systems. We asked whether it seems correct that M & T Bank would reverse a transaction 7 days after crediting our account for the wire transaction or why they would reverse a {$100.00} XXXX payment executed from their web site. She admitted she had no reasonable explanation for why M & T Bank took these actions. XXXX provided the following address to send any complaints to M & T Bank XXXX M & T Bank ; Attn : XXXX XXXX ; XXXX XXXXXXXX XXXX ; XXXX, NY XXXX She also provided us with the correct wire instructions for any money we need to re-wire : M & T Bank ; Attn : Retail Servicing ; Routing # : XXXX ; Beneficiary Account : XXXX ; XXXX XXXX XXXX ; Phone Number ( XXXX ) XXXX ; RE : My Name/Loan Account Number/Description of funds sent ( i.e. payment or Payoff ) XX/XX/year> the M & T Bank online loan account at XXXX was completely missing and no longer available to see on the website. ( See attached loan account screen print )

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