M And T Bank
Predatory Banking

This bank has a practice of giving a balance which is completely accurate as well as allowing credit charges to go through even though funds are not available in the account.

I deposited funds on Oct 7. I then used my check card to purchase items. Apparently, the bank offers a "convenience" of allowing charges to go through even though the funds were not available. This resulted in overdraft fees.

Apparently when a merchant processes a transaction with the bank, the bank allows the transaction to proceed even though there are insufficient funds. Why the charges are not denied I do not know

Also, when deposits are made it is not stated on the ATM receipt that the balance is not accurate. Only one balance is listed which includes the deposit amount. There is no mention of the hold or the length or time for the hold on the ATM receipt or the online ledger.

Speaking with the customer service manager and rep were useless. They considered allowing credit transactions even though a deposit is on hold a "courtesy". I consider it Predatory Banking

Company: M And T Bank
Country: USA
Site: www.mandtbank.com

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