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Wtdirect Acquired By M&T Bank

Wednesday, June 15, 2011 - 10:58 PMWTDirect - Details
Just got a letter from M&T Bank that, on May 16, 2011, they acquired Wilmington Trust Company where many of us have online accounts at WTDirect.  For more information, go to the M&T web site M&T Bank     When I signed into my account at WTDirect, I found no information there.
2
king3344king33447 posts since
Jun 6, 2010
Rep Points: 36
1. Thursday, June 16, 2011 - 9:32 AM
Actually, if you look at the "small print" at the bottom of WTDirect's home page, you will find that Wilmington Trust is described as a "division of M & T Bank." I wonder how long it will take before M & T Bank ruins WTDirect like it did OnBank.
4
WilWil242 posts since
Feb 26, 2010
Rep Points: 1,285
2. Monday, August 1, 2011 - 8:41 PM
I wonder how long it will take before M & T Bank ruins WTDirect like it did OnBank.
Well, since I wrote the above, it has taken exactly six weeks for M&T Bank to ruin WTDirect! Faster than even I expected!
1
WilWil242 posts since
Feb 26, 2010
Rep Points: 1,285
3. Monday, August 29, 2011 - 2:56 PM
M&T is NOT FDIC insdured. WT Direcxt was FDIC insured.
1
XoroxXorox2 posts since
Aug 29, 2011
Rep Points: 2
4. Monday, August 29, 2011 - 3:06 PM
Please check your information.  M&T Bank is a member of the FDIC according to its home page.  
3
pearlbrownpearlbrown1,491 posts since
Nov 2, 2010
Rep Points: 6,490
5. Thursday, September 1, 2011 - 5:30 PM
I had attempt to close my WT Direct several times, twice via secured email as instructed.  WT Direct failed to do so, as I phoned again to confirm today.  Now, of course, M&T has the account, and the darn thing is still open with a new number.  The supervisor tells me the only way to close now is by writting regular mail to a special box: PO BOX 1258
Buffalo 14240.  IF I do nothing, SERVICE FEES WILL ACCRUE and the account will be turned over for COLLECTION.  I have been trying to close for a month, very disappointing given how WT had given excellent service, except this.  Be aware, you must get any old WT account officially closed, or face fees that M&T will pursue. 
3
messagemessage1 posts since
Sep 1, 2011
Rep Points: 3
6. Friday, September 2, 2011 - 11:21 AM
FYI- for those of you who may have done as I and closed your WTD account just before this undesired switch to M&T (and subsequent interest drop).  M&T has continued to send me correspondence and a new M&T account number a month after I closed my WTD Savings Account.  The previous post got me concerned that M&T might be keeping my account on their books.  I, therefore, called them at 800-414-9435.  I was told that my account was, indeed, closed and that M&T was still using old info to send out their latest correspondence.  If you're still getting mail from M&T, it's probably nothing to be concerned about.  Call that number if you want to be sure.
3
king3344king33447 posts since
Jun 6, 2010
Rep Points: 36
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