M&T Bank

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If you bank at M&T bank be prepared to wait on the phone at least 20 minutes minimum. I had to wait 1 hour. But 20 minutes is in their standard phone tree message.Very poor bank to do business with. Just a update go forward and use at your own risk  Not a Bank just going thru the motions!!!

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I only bank with them because of a $300 bonus.

Not sure where you're based or what time you called, but you posted this at 7:20pm EST, or 2 hours and 20 minutes after most of their Buffalo, NY based HQ went home.. I believe most if not all of their branches are east coast based as well

OK, so who does ANYONE bank with besides Alliant for anything OTHER than the $300 bonus???
stanolshefski said:   I only bank with them because of a $300 bonus.
  M&T is such a crappy bank that they opened two accounts for me when I only wanted one (I think a real, genuine mistake.  Not Wells Fargo).  I had to go ALL THE WAY to the branch to fix it.  I HAD TO TALK WITH THE CUTE teller,  UGH!  And their solution?  Leave both open for a month or so and we'll give you a bonus for each account!  

 

debentureboy said:   OK, so who does ANYONE bank with besides Alliant for anything OTHER than the $300 bonus???
 

We keep a savings account with a local B&M bank with lots of locations in the area. Mostly for renters to make deposits directly to it, but it's been sufficient for occasional services like medallion signature guarantee, notary, and cash deposits. 

I had a few accounts with Provident Bank when they merged with M&T a few years ago, but M&T interest rates were quite lower so I dropped them like a hot potato. Still have no idea how any bank can stay open offering just 0.10% or 0.20% interest.

atikovi said:   I had a few accounts with Provident Bank when they merged with M&T a few years ago, but M&T interest rates were quite lower so I dropped them like a hot potato. Still have no idea how any bank can stay open offering just 0.10% or 0.20% interest.
 All of the local B&M banks in my area offer rates hovering around 0% since 2008.  None of them seem to be closing operations nor branch offices.

Actually, I've noticed a half dozen Capital One branches in my area closed in the last 2 years. Then how do they attract enough deposits so they can make enough loans to generate a profit?

atikovi said:   Actually, I've noticed a half dozen Capital One branches in my area closed in the last 2 years. Then how do they attract enough deposits so they can make enough loans to generate a profit?
  I used to have accounts at Provident Bank and when they closed and merged with M&T Bank, I closed them right after the merger.  I did notice that Capital One also closed a branch office close to me, but that branch office was always deserted (parking lot was always empty).  It was built near a strip mall and situated all by itself.  Bad planning IMHO.  One time I stepped inside the place and teller tried to refer me to an investment adviser to get more business for the branch.

Perhaps some of the capital for their loan business does not come entirely from the depositors money?  Business checking account customers often are not that much concerned about the interest rates on their accounts.  They are more focused on the account receivable/account payable activity on the account and having a convenient location to do their transaction business.  I know some business customers who deposit a large sum of money with local banks that pay virtually zero interest.  I seriously doubt these type of customers will go with an online bank especially if they deal with a lot of currency.



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