M&T Bank

Submitted by quinnbeast t3_yd4nlg in vermont

How has everyone else’s experience with M&T bank been since their merger with People’s United Bank?

I use several local and national banks for both my personal and business finances and they may be one of the worst I have ever used.

The app/website constantly malfunctions, and there does not seem to be any logical scheduling to when purchases are deducted or withdrawals are added for business and personal checking.

My branch is in Williston and it yet feels like they’re in Prague.

Update: Really appreciate everyone’s feedback and confirmation of my suspicions. I’ll be closing all my accounts when I return to VT Thursday morning and sticking solely with NCFCU, Amex & the other lesser crooks lol

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Calligraphee t1_itq5b0d wrote

>My branch is in Williston and it yet feels like they’re in Prague.

At least if they were in Prague they'd be able to deal with Czechs!

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HomeOnTheMountain_ t1_itq76wf wrote

🤦‍♂️🤦‍♀️🤦🤦‍♂️🤦‍♀️🤦🤦‍♂️🤦‍♀️🤦🤦‍♂️🤦‍♀️🤦

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pro_conser333 t1_itpzj2a wrote

I don’t use them but I’ve heard only negative things about them.

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Embarrassed-Hat-9554 t1_itqglyj wrote

The months-long barrage of communications about "Transition Weekend" was really annoying, and now the online banking situation is frustrating in various ways. They seem to add an extra day to hold on to my money whether it's crediting a deposit or making a payment. I really liked Peoples Bank so it's disappointing. I'm in the process of changing banks.

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nakedspacesanta t1_itqpclq wrote

same. im moving to vermont federal credit union.

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Electrical-Bed8577 t1_itrop1a wrote

VFCU is better than most. Front end a little snarky puppies, putting on airs while still learning.

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tossawayintheend t1_itpyksb wrote

We're a corporate customer and their Treasury Center website is HORRIBLE.

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HackerKayaker t1_itrzkx9 wrote

eTreasury w/ PUB was sooo much better. We were told that the percentage of the budget M&T spent on technology was higher than People's. Now I understand feeding all the hamsters they needed to keep the cogs turning gets expensive.

edit:spelling.

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tossawayintheend t1_itufwza wrote

I can't dispute that, but it was my understanding eTreasury was a third party system that People's licensed.

So yeah, M&T may have spent a higher percentage of their budget building their steaming pile of garbage, but if the total budget was less than what People's paid for eTreasury then the percentage spent is irrelevant.

Note: this isn't directed at you, just venting and sharing my experience.

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Intelligent-Sky-2985 t1_itrcdk4 wrote

My mom has worked for Peoples United for a little under 30 years now, and during her experience there she never had to deal with the amount of stress she’s dealing with now.

Ever since the merge happened things have been absolute chaos, from simple problems like clients not being able to access they’re account to people not being able to receive they’re checks in the mail for up to a month

All these things happened because the banks managers and even owners did a poor job adapting to the new bank. Hell, most of them were pretty old and didn’t understand the new technology that makes banking much easier

Clearly the assholes that run the banks were not ready for a merge they didn’t want 😤

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HackerKayaker t1_itryhww wrote

Sorry, but "the banks owners" line is nonsensical. It's a publicly traded company, the owners are all the stockholders and they're not running things.

And I don't understand the "didn't understand the new technology that makes banking easier". piece. There was different technology from a different bank, true. But "that makes banking easier"? What does that mean? Customers, at least Business customers who I exclusively dealt with before I left, took a step backwards with the M&T systems. There is nothing about their technology that makes banking/online banking "easier" that the old guard was mystified by.

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KrazyKaizr t1_itsfimp wrote

I've clearly been very lucky because I'm happier with M&T than I was with People's, their app is more reliable and has more robust features.

But it sounds like a lot of that hasn't been other people's experiences. Not to mention I almost exclusively do banking through the app so my interactions of M&T is very limited.

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grn75vt t1_itt2z8i wrote

I have had the same experience, since I am only online. I have been in the bank once since the merger and it appeared to be busy but not completely chaotic.

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cpujockey t1_itr5w5i wrote

can confirm - M&T is trash.

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willowbeest t1_itq4ist wrote

Every time I've had to talk to them, either on the phone or in person, I have to supply them with my 'new' address, which is my address from 4 years ago, that People's Bank had changed at that time. Just got a thing in the mail from them confirming my new street address with my old town and zip code.

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Ok_Reference_9222 t1_itq5m0m wrote

I just opened an account. But only to take advantage of the offer I got in the mail, open an account with minimum balance of $500 for December and January and then in February they will give me $250.

No plans to use the account. I’m treating it like a short term CD. So far, less than impressed. Example my deposit was made in cash last Saturday. Yesterday it was still showing as pending. Finally today it is showing as available.

My primary “banks” are NEFCU, VSECU and Navy federal credit union. Oh and Chase, but that was a similar promotion, open an account and we will give $200. Probably will close soon.

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Walnut2001 t1_itqfwld wrote

I just miss peoples, it felt so much nicer to walk into the locations when they were peoples

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Distinguished_Parrot t1_itqhkrb wrote

> Hey, I tell you what is. Big city, hmm? Live, work, huh? But not city only. Only peoples. Peoples is peoples. No is buildings. Is tomatoes, huh? Is peoples, is dancing, is music, is potatoes. So, peoples is peoples. Okay?

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BuddhaGoalie11 t1_itqh9mh wrote

Local Banks - by and large - Suck Balls & mistakes will cost you dearly.

Peoples' continued a long standing tradition of sucking HARD, established in the 90's by Chittenden...

PLEASE - if you MUST use a local bank get with a Credit Union.

Otherwise, enjoy truly competitive rates and features that exist with online banking - I'm ecstatic with SoFi for years now!

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LongAd5177 t1_itqq0sl wrote

I'm switching banks. I have nothing good to say about them. Auto payments never were taken out. I was late on bills because of it. They won't take responsibility

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switchstyle t1_itr12bn wrote

They probably changed the routing number, but it appears on the website that it says previous DDs will continue without interruption, so if this is a recurring payment, they should absolutely take responsibility

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LongAd5177 t1_itr7i67 wrote

It's my mortgage, truck payment and my wife's car payment. All 3 were late

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Significant_Name_191 t1_itt6iao wrote

I hope they gave you money to make up for loses and late fees.

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LongAd5177 t1_itu9jwb wrote

Nope. All they said was everything looks good on their end and apologized. I tried to get them to pay the late fees and nothing

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Significant_Name_191 t1_itulw6j wrote

That’s not a good answer for them to give. It also doesn’t help that they don’t take accountability for their call center’s technology. If a call seems to be like they were hung up, it most likely is the system they use cutting off the audio which leaves both parties unable to hear eachother.

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tossawayintheend t1_ituh5z7 wrote

We've had checks come back as "Account Closed" even though they told us multiple times the People's Routing number was still valid.

Not a good look for a business trying to pay vendors and partners.

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DukeOfUpstate t1_itr1m44 wrote

Little known fact (and definitely not one I made up) that M & T stands for Murderers & Thieves.

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cjrecordvt t1_itsg9sp wrote

I've been calling them that for at least a month.

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cjrecordvt t1_itsg8gk wrote

Probably switching to a CU, either Heritage or whichever survives from the VSECU/NEFCU merger.

When I saw that during the changeover that Murderers & Thieves wasn't going to be able to transition over People's transaction records, I knew we were in for a show. (And then transitioning my card was an actual experience that proved my guess.) Their website is clunky as hell, I haven't even tried authenticating into the app, and I'm mortally offended that their account login only offers SMS and email as 2FA, rather than an actual number generator.

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CancelCultAntifaLol t1_itr6m12 wrote

I had M&T bank when I lived in New York. It’s an okay bank, but, as a customer, you feel like just a number to them, and they don’t hesitate to charge and penalize you aggressively for a mistake. Huge bank, I’d suggest something local with people who actually care.

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bumpsetstevelee t1_itrd3qc wrote

it costs $9.95 per month to sync to quickbooks online?

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OkWatermelonlesson19 t1_itrfnhx wrote

It was awful. I switched to a National bank and am much happier.

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blackdogpepper t1_its9a60 wrote

I used peoples for my business on Long Island after they bought out my local bank. I would use peoples when visiting Vermont. The tradition to M&T was a nightmare so we took our business and personal accounts to Chase.

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MizLucinda t1_itsdxcj wrote

It’s a tire fire inside a dumpster fire.

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Lately_Independence t1_itrj13q wrote

They forced account number changes on multiple business checking accounts.. and gave me a free hand-written check stack as compensation (I print checks because of the quantity I do). I’ve been taking steps to close the accounts because of just how much of a hassle it was.

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siltanator t1_itsb8rn wrote

Fucking awful. Card stopped working a week before they sent the new one, could not transfer money online or withdraw in person for that whole time. Completely lost access to all money in accounts and they did not give a fuck. Still no checks even though it’s been months sense they order. For sure closing the account.

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naidim t1_itulr6g wrote

Switch to a credit union. VSECU or VFCU are good options.

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