Merchants & Traders Bank

I have had an extremely negative experience with dealing with this particular bank and an issue in which someone fraudulently made purchases against my account. I reside in M[redacted] and a total of 16 purchases were made to my account at several different locations in Pennsylvania. I was only warned by M&T that there was suspicious activity when the party (or parties) attempted to make a purchase for which sufficient funds were not available. The total of the fraudulent charges was in excess of $500 (and I am still trying to get M&T to put the accurate amount. After going over all the amounts individually, their employees still have not managed to add the amount up correctly). The pattern in which my card was used was not even close to how I have used my card in the past or present. I have been further disappointed by the experience that I have had with some individuals in the fraud department who lack empathy as well as professionalism.

The bank is of no help to Businesses. We opened the account in M&T Bank in 2006. We got SBA loan for $50K. We were using it till Jan 2007. In Jan 2007, the bank closed the account and asked us to pay the balance in 36 months with interest rate of 7.5%.
Everytime an income comes to the bank, they delay applying it. They would start paying the payments that were due and charge erroneously $38 for (funds not available) fees inspite of the fact that the income is already there. They manipulate the accounts. Their debit card works in some places and not other places. We had to call the bank some thousands of times why the card was not going thru inspite of the fact that the funds are available.
Any transaction takes several days to clear from bank. They wait until they find a chance to apply the transaction so they can get the $38 funds not available fee. They sometimes charge the business account service charges that are in to couple of hundreds of dollars. Don't know why or there will be no explanation why.
These guys squeeze the blood out of you. We still have them as our bank as we have setup automatic payments with this bank. We are just waiting to close the account and move over to another bank.

Review: M and T charged me an extended overdraft fee in spite of the fact that my account was not overdrawn.Desired Settlement: I would like the amount of the erroneous extended overdraft fee restored.

Business

Response:

October 24, 2013

To Whom It May Concern,

[redacted] overdrew his M&T checking account on September 23, 2013, with a purchase of $147.43. His account continued to stay overdrawn until October 3, 2013. M&T issues an extended overdraft fee of $38.50 when an account is negative for five (5) business days. During the time frame of September 23, 2013 to October 3, 2013, [redacted] did have a deposit, but paid a bill the same day overdrawing the account again. Because the account was not positive for 24 hours, it became eligible for an extended overdraft fee. Please see the attached account history that shows a deposit was made on September 26, 2013, but a payment to [redacted] on the same day overdrew the account again. As of today's business day, the account is still in the negative.

Thank you,