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Sunday, September 4, 2011 - 9:49 AM
(1 stars)
Warning For Former WT Direct Customers Who Are Now M&T Bank Customers - Terrible News
M&T Bank (1 stars)M&T completed their acquisition of WT Direct recently. They moved over the WT Direct customers to M&T last weekend -- and the results are APPALLING! This could be the WORST direct banking experience ever....
1) M&T charges $3.00 for an outgoing ACH!!!!
2) M&T has a $10,000 per day OUTGOING limit!!!
3) M&T won't let you access more than $10,000 per day UNLESS you go into a branch. And if you want to close the account and request a check, they require that a letter be sent via US Mail (they won't accept any faxes).
I found that the M&T customer service reps (with their overly solicitious "we apologize for any inconvenience") talk like with brain-dead zombies....who have no clue about "customer service". Adding insult to injury, their interest rates are considerably lower than Ally Bank, Amex Direct, etc.
Anyone who was happy with WTDirect will be horrified by M&T Bank -- and if you have a large balance that you need to withdraw (and you aren't near a branch), allow weeks to get at your money (and $3 per withdrawal too!)
1) M&T charges $3.00 for an outgoing ACH!!!!
2) M&T has a $10,000 per day OUTGOING limit!!!
3) M&T won't let you access more than $10,000 per day UNLESS you go into a branch. And if you want to close the account and request a check, they require that a letter be sent via US Mail (they won't accept any faxes).
I found that the M&T customer service reps (with their overly solicitious "we apologize for any inconvenience") talk like with brain-dead zombies....who have no clue about "customer service". Adding insult to injury, their interest rates are considerably lower than Ally Bank, Amex Direct, etc.
Anyone who was happy with WTDirect will be horrified by M&T Bank -- and if you have a large balance that you need to withdraw (and you aren't near a branch), allow weeks to get at your money (and $3 per withdrawal too!)
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2. Friday, October 28, 2011 - 10:02 AM
They waive the bank to bank xfr fee on legacy wtdirect savings accounts, even though you get a "fee warning popup" when interacting with their web presense.
Since they've slashed the interest rate from the WTD days, I'm doing the 10k/day withdraw and shutdown process. After they post interest next month I'll draw it down to zero.
Since they've slashed the interest rate from the WTD days, I'm doing the 10k/day withdraw and shutdown process. After they post interest next month I'll draw it down to zero.
4
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