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Thursday, March 10, 2011 - 9:16 AM
(1 stars)
Safe Deposit Box Policy
M&T Bank (1 stars)Do not open a safe deposit box at any M&T Bank.
If you do or already have one, make sure that you never close out a safe deposit box before your paid up year / annual fee is up. While most other banks will prorate a refund for the portion of the year that remains. M & T Bank does NO refund. I had a safe deposit box with them for many years. The $125 annual box fee was paid in full in January. The box was closed out in mid-March --- approximately $90 they keep. The "theft" of this is that they can still rent the box during the time that remains of my $90 and make an additional $90. The "customer service" staff just kept repeating the "company line." This is true double dipping.
-- consumer rip-off at its best.
There should be a NO star rating available. That is what M&T would receive.
If you do or already have one, make sure that you never close out a safe deposit box before your paid up year / annual fee is up. While most other banks will prorate a refund for the portion of the year that remains. M & T Bank does NO refund. I had a safe deposit box with them for many years. The $125 annual box fee was paid in full in January. The box was closed out in mid-March --- approximately $90 they keep. The "theft" of this is that they can still rent the box during the time that remains of my $90 and make an additional $90. The "customer service" staff just kept repeating the "company line." This is true double dipping.
-- consumer rip-off at its best.
There should be a NO star rating available. That is what M&T would receive.
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