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Wtdirect Online Fund Transfer Changes Effective 8/23 And 8/26

Sunday, July 24, 2011 - 9:09 AMWTDirect - Details
Announcement at login this morning:

IMPORTANT INFORMATION ABOUT ONLINE FUND TRANSFERS:
  • August 23, 2011is the last day to transfer money to accounts at other financial institutions using the Bank to Bank Transfer Feature.
  • August 26, 2011 is the last day to transfer money between your Wilmington Trust and WTDirect accounts.
On August 29, you can enroll in M&T Web Banking at www.mtb.com and begin using the new services and features.
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They offer no further details.  If anyone uses M&T Web banking and can share information such as, for example:

1.  is there a limit on the number of external accounts
2.  are there fees for using the transfer services
3.  transfer times (in and out)

it would be most appreciated. 
3
pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
Rep Points: 6,263
1. Sunday, July 24, 2011 - 9:47 AM
Found a post from Ken dated 5/18/10 which answers at least one of my questions.  
http://www.depositaccounts.com/forum/thread/mt-banks-new-fee-300-for-banktobank-transfers.html

At M&T inbound bank-to-bank transfers are free.  A $3.00 transfer fee will be charged for each transfer you make from your M&T account to your accounts at other financial institutions.

Many other institutions offer free bank-to-bank transfers, so I'll close my account at WTD in late August.
2
pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
Rep Points: 6,263
2. Monday, August 29, 2011 - 2:58 PM
M&T is NOT FDIC insured. WT Direct was FDIC insured.
1
XoroxXorox2 posts since
Aug 29, 2011
Rep Points: 2
3. Monday, August 29, 2011 - 3:05 PM
Please check your information.  M&T Bank is a member of the FDIC according to its home page.  
3
pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
Rep Points: 6,263
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