Recently, a lot of attention was paid to Bank of America proposing a $5 per month fee for debit card users — so much so that the bank had to cancel the fee. But I saw nothing in the press of an even more onerous fee now charged by M&T Bank.
Beginning in June, M&T began allowing account holders to make up to four withdrawals from a savings account or transfers between accounts per month free, but after four, it charges $5 per withdrawal or transfer. Not $5 per month, but $5 per transaction.
That's right, it's now their money, but you can use it if you pay them a fee! I got hit with $100 in fees because I didn't check my statements carefully. I've been with the same bank more than 20 years — since it was First National — but needless to say I'm looking for a new bank now.
Randolph Hutter, Catonsville