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About M&T Bank
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M&T Bank is a financial services company with a variety of personal and business banking solutions, including checking and savings accounts, loans and credit cards. With more than 1,000 branches and 2,200 ATMs in the Mid-Atlantic states, M&T Bank is best suited for those looking for a local banking experience. While its savings accounts have low interest rates, its promotional certificates of deposit (CDs) are a great way to lock in a competitive rate.
Pros & Cons
- Variety of personal and business banking solutions
- Promotional CDs with competitive rates
- Multiple credit cards with no annual fee
- Limited service area
- Below-average interest rates
- Monthly fees on most accounts
M&T Bank offers a range of personal and business banking solutions but has low-interest rates and monthly fees on most accounts. One exception is its promotional CDs, which have competitive rates.
M&T Bank Reviews
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This company is unethical, unorganized, and has appalling customer service. They lost my electronic release of lien for my car loan and thus I haven't been able to retrieve me car's title for over 4 months now. Customer service hangs up on me repeatedly. This should be illegal.
Where have all the M&T tellers gone? Doesn't matter which location in the Buffalo Southtowns you go to, there is always at least a 30 minute line. Two tellers, one of which is alternating with the drive thru traffic. What corporate dingbat decided commercial tellers no longer warrant a separate line? Now everyone gets to wait even longer than 30 minutes when both tellers are handling commercial business simultaneously. The last 3 months lines have been out the door no matter which location I visit. Hey M&T, our time is valuable too - way too many small local banks we can switch to.
My mortgage was recently sold to M&T Bank, unfortunately. This was an investment property with me & 3 other people on the mortgage. *I had attempted to set up ACH payment via their mobile app but was unsuccessful (I ultimately had to do this via PC for those having the same trouble). I do take responsibility for missing a payment in the confusion (I should've checked the bank account to see that the money wasn't withdrawn but didn't). BUT, M&T claimed they tried to contact me about the late payment when they were actually calling a work number that isn't answered by any of the 4 of us directly, and the call was never received. They could've, and I'd argue "should've" called any 4 of the cell phone numbers associated with this account.
Ultimately, they have dinged 4 people's credit for a $2,400 late payment when all prior payments were early. To top it off, they suggested I contact the Credit Bureaus to dispute it, when they knew they would do nothing to help with the incident. If damaging our credit wasn't bad enough, they also had to waste our time with this runaround. I'd never use this bank if you're looking for a "customer oriented" bank.
I am a disabled veteran who was recently awarded 100% disability, property tax exempt. After submitting all supporting paperwork, I was told 5 business days for an escrow analysis to be ran and the overage funds in escrow would be refunded. It has been 2 months with no resolution to date. Due to this company's negligence, I have faulted on my mortgage. I am saddened by the lack of integrity of this mortgage lender. This is the exact problem that needs fixing with how veterans of the United States are treated once discharged from service and are no longer of use.
So I have a mortgage with M&T bank. Never been late once until somehow a payment bounced that I paid. Even though I got the notification that it went through from my bank. Went on with my life. Well I heard from them 32 days after my payment was due. Stating that my payment wasn’t paid. And I remember paying it. Look back in my emails. Had the verification of my payment went through. Then realized somehow it bounced so I paid it. Well they decided to put a 30 day late on my credit report. Even though they knew this wasn’t my fault. Causing my credit score to drop 100 points causing other issues in my insurance to cost more.
My Wells Fargo credit card dropped my credit limit by $10,000. Now showing that I use utilize more of my credit limit. Also making my credit score drop even more. All these banks are in cahoots with the credit bureaus. And they’re all crooks. They refused to move remove this even though they see in the last 15 years I’ve never had one late or anything derogatory on my credit report. The funny thing is they called me up because I’m a realtor asking if they can be my preferred referral lender. I want to refer them to a cockroach.
Please watch out M&T bank closed out my credit card without me knowing saying because of a fraud alert. M&T bank didn't notify me about canceling my card. Until I try to use been having more issues with the bank. And thanks to them I lost a day of work so that's a day of pay for me. So please watch your account.
This bank is shady, unethical, disorganized, and completely incompetent. Three months ago I accepted an offer on my house sale by a gentleman who is using this bank. Our original closing date was October 1st, they didn’t even order the appraisal to be completed until October 6th. It came back at 10k over my asking price and he was told that no repairs were needed because of that (it was an FHA Loan and the purchase agreement clearly states the property is being sold AS IS). They do not respond timely or at all to emails, and they do not offer updates. The buyer had to resubmit several forms several times to several different people because they apparently also do not communicate internally.
We finally got a second closing date of October 28th but nobody would give us a name or address or time for the closing. On October 27th at the end of the day, we received an email that they were not ready to close and they did not explain why, but it turns out they buyer needed to submit more paperwork that he had submitted already but they couldn’t find it!
On November 1st, 4 days after we were supposed to close and an entire month after they received the appraisal results they sent the buyer a huge list of repairs that needed to be completed before they could move forward. The list includes but is not limited to scraping and repainting the entire house and tearing down an old shed on the property. If these items were a determining factor in his eligibility they should have been sent a month ago when they received the appraisal and not 4 days AFTER we were supposed to close! I already moved hours away because they gave us a closing date. I am out of money, the buyer is out of money, I am double booked on my housing expenses and the buyer is effectively homeless. What a nightmare! I wouldn’t recommend this bank to my worst enemy.
On Sunday 10/09/2022 I contacted M&T bank formerly People's United Bank since they did not move any bank statements from People's United to their computer system and only have 60 days worth of transactions online to view. I asked for at least the last year's worth of statements. I received a message that the statements were ready but that was only for the month of October. So now I have Sept and Oct of 2022. So I called and spoke to a pleasant customer service rep who said she could not do a full year but could transfer me to a specialist who could probably help.
So after all the waiting I speak with the specialist and told her the situation and explained I need this info ASAP. She tells me it's in process since I made the request 2 days ago so I only have 8 more days to wait since it's 10 days for this request. I explained that is not going to work as this is my bank info and I needed for a court case so I legally needed it. She explains that it is my fault that M&T sent a message to the future customers that it was their responsibility to grab their statements from People's United and she could not help me. I explained that this was not reasonable and that just because a bank makes a policy - And as I was trying to explain this she hangs up. And it was a definite hang up. I will be closing my account with M&T ASAP. This should have already been done when switching over the systems as was done when People's United took over United bank a few years ago when we had to go through this process then.
I recently took out a significant mortgage with the bank. I had a great experience until I opened a checking account and tried to access my mortgage and checking account online. I have not had access online to pay bills or access transfers or any other service for almost a month. The local bank tells me I have to call the 800 number. I have spent hours on hold and still those answering the phones are not able to fix the issue. I then resorted to calling the head quarter in Buffalo. Nothing. I do not understand how a success business can be run this way? I would not open an account with M&T because no one is empowered or trained to help you.
Just "forced migrated" from People's. It takes M&T DAYS to post ACH payments. My credit card company posted my payment as received 9/30. Today, 10/4, M&T STILL hasn't deducted it. But they're "very sorry for the inconvenience."
I called to lock my Home Equity Line of Credit. I have been waiting 32 minutes with no sign of the phone being picked up. This bank is a nightmare. Avoid like the plague. No matter how many times I call them, it is impossible to speak with a live person, and I can't use any automated services to get done what I need to do.
Bill pay unable to change $ amount and frequency on existing established. System unavailable alert received every time, day or night. Ongoing issue since merger with Peoples United. Waited 40 mins for rep who was unable to assist. She suggested I cancel my current bill pays and start over. I have no desire to do that! Put on hold. I hung up after 23 mins of waiting. I’m soooo frustrated!!! I’m afraid to cancel current Bill Pay as I may encounter insurmountable issues to set up new Bill Pay. I understand there is always issues with mergers, but this too long and unsatisfactory. Ridiculous wait times!! M&T doesn’t even have a customer service email address.
When People's United Bank was purchased my M&T Bank over a month ago, I have not been able to get into my account online. I keep getting locked out and have to go the bank to check my checking account balance. People's United Bank was soooo easy to log into and this one just keeps locking me out. Can never get to a rep by phone because it keeps hanging up on me. If I didn't have overdraft protection on this account, I would change bank in a heartbeat. So far I HATE THIS BANK.
I have been on hold for over an hour the first call and an hour and a half during the second attempt. The first time with patience, I finally was transferred to a customer service representative. I need to get a title as we purchased a vehicle out of state and are trying to register it in our state. I was told that I need to request this in an email. They gave me an email address that bounced back. I was not able to get hold of someone the second attempt after being on hold for almost two hours.
We purchased an RV and secured an installment loan through M&T bank. We scheduled payments through their app. Every single time the payment was scheduled, the bank would take out 2 payments even though only 1 was scheduled. We have called customer service several times and were assured that the payment would be reversed. The other problem is every payment we schedule was being reversed and they claim it was due to insufficient funds even though there was plenty in the account to cover the payment.
We contacted our bank and were told that M&T Bank did not have the information entered on their end. The numbers were blank. This was told to them several times and again no one could help. This bank has lowered our credit score and will do nothing to correct the situation. Now we have to go to a branch in person to pay the loan in cash since they are unable to figure out how to take the money from our account. I would not recommend ever using this bank.
M&T Bank just bought People's Bank. My old bank. Since the takeover all old people's customers could not log into their accounts. Then customer service was so overloaded. They do not answer the 800 number even after 1 hr wait. I have read the scary reviews, I will be looking for a new bank toot sweet. Be afraid.
I called the mortgage division about paying off my loan. They said that they could not email me the final statement but would mail it to me. The mail never arrived. I called them back 2 weeks later and the rep said they did not mail the statement, but did fax and email it to my M&T rep. (who later told me that's not true, he'd not received any info). At that point they said they actually could email it to me, but it would take 2-3 days. They also said I could just go to my local branch and close out there.
Three days later I went to my local branch assuming. They called the mortgage division who told them that they couldn't provide the actual amount. They said it would actually need five days to process, to come up with the exact interest amount to come up with a payout statement. At this point the local branch manager is now on hold trying to get a straight answer, telling me that it shouldn't be this difficult and the mortgage division should in fact give me a final amount today. We'll see but regardless, bad service by the mortgage dept, great local service at my home branch.
Remediation Contractor here that provided services to a homeowner. The insurance company made the payable to the homeowner and M&T (mortgage co). M&T took the check 4 months ago and has still not dispersed any payments!!! All documentation has been provided multiple times. Every time the homeowner calls, they are told something different and need more paperwork. In over 10 years of business, I have never had a problem like this. I feel terrible for the homeowner!!
Tried to get a 10 day payoff on my RV loan to give to the new owner's bank, new bank requires a paper copy, called M&T, after over an hour on hold, I finally spoke with someone who said they can't email me a copy of the statement, they would be glad to mail it to me in 3-5 days! It's 2022 folks, if you can't email a PDF statement to me, your bank doesn't deserve my business, not to mention the lengthy wait time to speak with anyone! Automated system is a joke, it asks for your account number, but won't accept anything you input. What a horrible customer service experience, glad I'm closing my account!!!!
Just spoke to a supervisor who called me a liar. He told me I had only made 3 payments since opening my account in December. Shell oil is a monthly bill! M&T has had problems paying it for 7 months that's why their records show only 3 months, my January and February bills were not paid by m&t plus my Shell card was cancelled for the first time since the 1980s. I've had to pay shell $87 of late fees because m&t can't get a check, not even electronic payment on time and I mean a week before it's due. They blame everyone but themselves!
I've been waiting for a rep after being out on hold an additional 10 minutes after waiting in hold listening to music I don't care to listen to. Whatever happened to silence! Reason I'm calling for the second time in 8 months is that M&T can't seem to do electronic checks to Shell gas company. I've been charged late payment twice and card wouldn't work for two weeks!! I had to pay shell with a credit card to have shell card work. My July bill wasn't paid until August 1 even though I specifically asked for bill to be paid by July 22. They mailed the check. But can mail it myself and it'll get there on time.
Still on hold for Dawn who put me on hold and never bothered to come back. Hung up!!! Terrible online service too. On hold again 5 minutes and counting. Was told in January that M&T would pay for my $29 late fee which I've been charged again and it's my present balance and I'm still waiting. I rather my bank pay my bills on time as there's that credit report/record thingy to worry about.
I banked with M&T for 20+ years and I have extremely poor experiences with M&T. Everything to failure to provide a new card upon request after an old one expired, to consistent failure of the "online banking" website, to bank-to-bank transfers simply not working, to taking weeks of time and hours across multiple phone calls and branch visits simply to close a checking account. However, at this branch, senior relationship banker Yvonne ** went above and beyond for me in a fruitless effort to assist me with an issue that M&T's central system wouldn't permit her to remedy. She stayed past bank closing time, she bent over backwards to try to help me however she could. Other branch members were extremely friendly as well. It's not their fault that their bank's system/infrastructure is terrible.
(One incredible note: M&T apparently forces its own employees to contact M&T's customer service lines--just as the customer would--to attempt to resolve certain account issues. So poor Ms. ** sat in a customer service queue with the customer present waiting for an answer that ended up being unsatisfactory (the issue could not even be resolved). Just seems like a really poor way of doing business.)
The bank blocked my online access for no clear reason. When I called the customer service the woman was very sassy with a condescending attitude. After the account was unblocked I told her I did not need her help anymore. She told me I had to change my login. I replied I would do it on my own. She insisted that I do that while she was on the line otherwise she would block my account again. She said my account was blocked because I traveled out of the country. The thing is that I traveled more than one month prior and returned and used my account daily with no problem. 30 days after I returned to my home city they blocked my account. Faulty software and sassy customer service. I do not recommend.
Stupid staff and terrible experience. I plan to change the bank now. Would not recommend this bank. They need lots of improvement to continue their business. I will not return to this bank in future. Hate it.
I have had a mortgage through M&T Bank since 2009. I refinanced in 2015. My property is a duplex with two separate tax parcel numbers. Annually for each tax parcel, county, local municipality and school district real estate taxes are due. This means that there are six separate payments each year. M&T withholds the total amount for all six payments. Every year since I have refinanced, M&T neglects to pay the local municipality taxes for one of the tax parcels. The other five payments are made in full. Each year, the local municipality sends me a letter that they aren't paid and that a lien will be placed on my property. Each year I spend hours on the phone with the taxing authority and M&T explaining the situation and trying in vain to have them correct it. Each year, someone from M&T assures me that the problem is corrected and that it will never happen again. Each year it happens again. This is the 7th year in a row that this has happened.
This year was slightly different however, in that M&T still hasn't paid the amount owed, so now there is a lien on my property over a $400 payment that should have been made months ago. I have spoken with half a dozen people at M&T, each one assuring me that the payment will be made immediately, that IT WILL NEVER HAPPEN AGAIN, and that they will call me back to let me know as soon as the payment is made. I have not heard back from anyone and the payment has still not been made. I'm at my wit's end. The problem can't be fixed and apparently they just gave up on even making an effort this year.
Subsequently, I submitted a complaint to the BBB and M&T responded by blaming the local taxing authority, which is a complete lie. The local municipality sends out the bills on time and answers and returns calls and inquiries. M&T is non-responsive and in seven years of dealing with this issue, I have never received a return call when promised.
Awful, I have a car loan from M&T. I make my payments 2wks early like clockwork. Then out of the blue they reported 2 payments I made last year as late. This dropped my credit score 100 points. I have been unable to reach their customer service even though I have waited on hold for hours. M&T it's time for a management change, you can't blame your crappy service on Covid anymore. I will be looking for a new bank and an attorney.
I opened account in M and T Bank last Monday. I logged into my Web account on Friday of the same week. I was not able to login pass the security questions. Called customer service said I can place a ticket or go into the bank and Close account and then reopen. They could not tell me when I would have a resolution. End of story! I asked if we can expedite, answer was NO. Big inconvenience not a good bank, poor customer service. Secu is a much better Bank.
M&T bank's new automated system is horrendous. Doesn't understand the word "transactions". When it finally dies, Doesn't give the most recent ones, gives them from a month ago. Finally talked to a person said there's many complaints! Then do something about it!!
Lost card, contacted support and had a replacement sent out. Received card and activated, problem is I cannot use the card because it seems my pin was reset also. Now I can't change the pin because the website, app, automated phone service won't allow me to sign in without my pin. A human has not been reached yet after days of trying to contact one. Not sure what really to do other than pull funds and close account.
I just open up M&T Bank on March the 5th which is on a Saturday and I just receive a check from Bank of America for 99,999 dollars and when I deposited at an ATM like this Monday when I tried taking out money the lady said I had no money in my account so I called the m&t bank customer service and I explain to them what happened so I told them that my account has been investigate because the check that I got from Bank of America which I don't used anymore. So I ask them how will my account will stay investigate and they said they don't know. So honestly I had to close down m&t bank because honestly they accuse me of depositing fake check which is not true so they ask me where did I got the check from and I told them I got it from bank of america bill pay online and the lady ask me who give you this check and I told her i got it for my self. So I'm planning on closing M&T bank account.
When we were purchasing our camper we were pre-approved through our bank. We decided last minute to go with M&T because it was similar interest and easier - the dealer was familiar with M&T and the M&T person told us we could pay this off early with no penalties...this is a lie. I have mailed 2 checks in towards principal only. They will only extend your next due date. They will not put extra towards the principal only. I called and an agent told me he would help get that fixed... Several months later it is still not fixed (my due date is now August of 2023 for my next payment). I called again and got an honest agent. He told me the truth... They are an interest first bank. You can pay extra but it won't help...you will still pay full interest. Don't use this bank. Go through your own bank or a company that is honest. We were overly eager to go the easy route...big mistake. They are extremely and purposely misleading!!!
M&T Bank Company Information
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- M&T Bank
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