M&I Bank

Poor Policy And Poor Service
- sbaumgartner - Friday, August 5, 2011 - 1:39 PM

I signed up for a checking account with M&I about 3 years ago.  It was a secondary account for me to put a little money.  When I opened the account I put in $100 because that was the minimum.  At the beginning of this year they raised it to $500 and started taking $12/month out of my account as a service charge because I didn't meet the minimum.  By the time I noticed, I only had $40 left in the account.  My only option was to add $500 to the account and they would give me the fees back or to close the account and take my $40.  I took the $40 and ran.  I'll never do business with them again.

Not A Good Bank
- ahmei28 - Saturday, March 5, 2011 - 12:19 AM

I am a current MI bank customer--but soon to be former.  First of, I live in a small town and we have 2 M&I branches both open M-F until 4:40. NO weekend hours.  This makes talking to a personal banker face-to-face very difficult for my husband and I because we work opposite shifts.  When we opened the account, we had to go on my day off work (should have seen it as a Red Flag). Well, alll has been fine and dandy until by account went to a ZERO balance--not overdrawn, not negative, just a Zero balance.  Apparently, their system automatically closes down your account and assumes you no longer want it when you have a zero balance.  Without any prior notifcation, that's excactly what it did on the day I was suppose to get paid (Friday).  I called their Customer Service center and was told I needed to speak to a specalist to open the account. I would have to more-or-less start all over, providing them with mine and my husbands personal information which I had except for his driver's license.  The rep assured me they're open 24/7.  When my husband got home at 11:30pm, I called and was told the department I needed to speak to left for the weekend. The rep said she could TRY to do something for me, but I really need to speak to a Specialist and the Specialist will need to contact my branch (not open on weekends) and also the M&I Direct Deposit depart to make sure the money didn't go back to my employer yet--all this will have to wait until monday until then I do not access to my money to pay bills, groceries for my family, or anything.

I changed banks from Associated Bank-who bought out my old bank of 10 years- because they had ridiculus rates and services, but I have to say M&I surpassed them with their horrible services & policies. The change I get from their Cash Back checking is not worth the hassle and inconvience. Associated Bank is a pretty bad bank, but I'll glady recommend Associated before M&I.

Poor Service With Their Credit Card
- joanne - Friday, August 26, 2011 - 11:12 AM

I am concerned about the merger of M&I and Bank of Montreal. I have sent 2 checks to pay the balance of my son's credit card (it is a joint account). I sent the 2nd check when the first one did not clear. I mailed a check to pay my own account on the same day that I mailed the check to pay his account. I put them in different envelopes so they would not get confused. The check on my account was posted 2 days ago and there is no sign of the checks sent to cover his account. I have sent 2 emails which have been ignored. I have spoken to someone 3 times with no luck. Today I sent another check to cover the balance on the latest bill (not due for several weeks) hoping to clear things up. My son is 22, just out of college and this account was set up to get him off to the right start with a credit rating. Unfortunately, with these clowns is charge his credit will probably be ruined. At first I thought that somehow I did something wrong with the 1st payment - now I am beginning to wonder.

The Employees Treat All Customes Like VIPs
- skd51890 - Saturday, April 9, 2011 - 11:10 AM

My experience with this bank has been a very good one. M & I Bank - formally known as First Indiana Bank, does everything I believe a bank should do. The employees are always pleasant, friendly, and personable. They even remember most customers by name. I often have trouble remembering my account number, but as soon as I walk into the bank and get to the counter, they already have my information pulled up. Even when going to a branch other than my local branch, I have still never had a negative experience. Though it is a small chain, the employees treat all customers like VIP's. I once had a problem involving the type of checking account I had no longer being available. Because of this, they changed my account to a different type of checking, and I was never notified. Since it was a different type, it was no longer free, and they took a monthly checking fee from my account. I was not very happy about this, especially since I was never notified. I called the bank and spoke to the manager and he apologized continuously, worked with me to change my account to one that would be free, and refunded the money. He even gave me his name and number and told me to call him personally if I ever have a problem in the future. I also love that the bank has a machine that's sort of like a Coin Star - you put your change in, the machine counts it, and prints our a ticket that you take to the clerk and they give you cash for your change. This service is free for bank customers!

Poor Customer Service & Services
- fstafs - Friday, November 25, 2011 - 3:16 PM

M&I’s services are not for customer’s convenience; rather it’s for their own convenience. I would not recommend M&I.  

Banked With M&I For Almost 10 Years..
- StarsUp - Thursday, November 3, 2011 - 4:53 PM

I am currently still a customer with M&I, but I'm looking into other banks. They're checking accounts are great! I have the free rewards debit card. There are no hidden fees or anything like that. I can view everything online and make payments too. The transactions are slow to post, however. 

I have an M&I credit card too, which I've had for years. Also have the so called overdraft protection setup in conjunction with the card. They're od protection is a joke. It's just a way to make even more money off you when you overdraft. I haven't used my card in years, but have overdrafted a little bit here and there. Every time that happens I receive several fees from the card because it's technically a cash advance, according to them. Plus all the other fees really add up. I'd probably be better off without it. The card itself is ok, no annual fees. I'm not sure why but my minimum balance due each month was raised just recently even though I pay ontime every month. 

The free savings account is also a joke. I opened it with $100, and within two weeks the account was closed without notification. Found out is was because they raised the minimum to $500. I did NOT receive any letter or notice about this change. I didn't find out until I walked into the bank and asked why I couldn't deposit money into the account. Screw that, just what I don't need is more fees to keep my money there. 

A few years ago I had a small auto loan with the bank as well. I was automatically enrolled with automatic payments, that I wasn't aware of. To end that I had to pay more on my monthy payment. However, making the payments on their website was very convienent. I also paid it off early with no fees of any kind. 

The online banking is awesome! I can see everything, make payments and pull up old statements. Just don't bother e-mailing them with a question. IF you get a responce it will be vague and not helpful. 

I haven't banked anywehre else, ever. I thought using a bank for all my needs and keeping everything in the same place with simplify things. I'm sure I pay more in the long run though but the convienece makes life easier. I am looking into a credit union to bank with, because no matter how long I've been a customer with M&I it doesn't mean anything.