[Mike 75]

Originally Posted by JayCT

We are considering changing too. DW told me that M&T has a limit on how much money per month you can deposit into our account. It was less than we normally deposit. I have NEVER heard of such a thing. She called and had the limit increased but still I find it strange. Has anyone else??? Jay

They also have limits on how much to you can pay through bill pay. If they think the amount is too much, they will not approve the transaction and you have to call them to resolve. But there is no indication of what is too much. And this is for established payees.

And don't get me started on their "fraud" prevention, which locked my account b/c I tried accessing it while traveling outside the country. They don't send you any kind of alert like all my credit cards do, they just block it and tell you to call a number to resolve when you try and log in. You would think they would want to alert me of any suspected fraud right away via text or phone call, but no. I had to call to find out what the issue was, and they then tell me I have to go to a branch to resolve. Incredible waste of time.

I never had any issues with Peoples, but I'm considering moving my accounts. Only issue is my mortgage and HELOC are with M&T, so I will still have a relationship with them. Not that I'm thrilled with the idea of JPM or BoA, but are there any local banks in FFC that people recommend? Is Webster any good?

[SteveM85]

Originally Posted by JayCT

I disagree. It’s pretty obvious M&T is a big bank that has no stake in our state other than adding to its bottom line. Despite what young people think community matters. They will realize that in time. Sad that it’s too late for Peoples United Bank. Jay

Young people will never realize that community banks matter. Not now or any time in the future.
I'm not that young, I'm Gen-X and community bank branches mean nothing to me. I get paid via direct deposit and pay bills on the app. When I get a rare paper check for whatever reason I can deposit it on the app too. A JPM app on the phone is all I ever need.
There are much more interesting commuinity things about the state of CT to be excited or enthralled with than bank branches.

[dazzleman]

Originally Posted by SteveM85

Young people will never realize that community banks matter. Not now or any time in the future.
I'm not that young, I'm Gen-X and community bank branches mean nothing to me. I get paid via direct deposit and pay bills on the app. When I get a rare paper check for whatever reason I can deposit it on the app too. A JPM app on the phone is all I ever need.
There are much more interesting commuinity things about the state of CT to be excited or enthralled with than bank branches.

I agree with JayCT on this. There is more to a bank than convenience of depositing a check. When you have a real problem, a bank where you are personally known can be a much bigger help to you than a bank located in another state who doesn't know who you are. This is even more true for businesses, and local banks have been a mainstay for businesses in the past.

The problem with the Millennials is that their opinions far outrun their knowledge and life experience, and they fail to realize that a society where nobody actually owns anything is an inherently unstable and feudal society. Their unduly high self-regard will prevent them from learning this lesson until it is too late, and that will come back and bite them. By then, I will be gone.

[dazzleman]

Originally Posted by Mike 75

They also have limits on how much to you can pay through bill pay. If they think the amount is too much, they will not approve the transaction and you have to call them to resolve. But there is no indication of what is too much. And this is for established payees.

And don't get me started on their "fraud" prevention, which locked my account b/c I tried accessing it while traveling outside the country. They don't send you any kind of alert like all my credit cards do, they just block it and tell you to call a number to resolve when you try and log in. You would think they would want to alert me of any suspected fraud right away via text or phone call, but no. I had to call to find out what the issue was, and they then tell me I have to go to a branch to resolve. Incredible waste of time.

I never had any issues with Peoples, but I'm considering moving my accounts. Only issue is my mortgage and HELOC are with M&T, so I will still have a relationship with them. Not that I'm thrilled with the idea of JPM or BoA, but are there any local banks in FFC that people recommend? Is Webster any good?

BofA is a nightmare IMO, but JPM has been quite good to me.

[WouldLoveTo]

Originally Posted by Mike 75

Is Webster any good?

Webster is good

Are there credit unions in your area? I'm currently with American Eagle but have also used Dutch Point and First CT Credit Union (Wallingford).

[Mike 75]

Originally Posted by WouldLoveTo

Webster is good

Are there credit unions in your area? I'm currently with American Eagle but have also used Dutch Point and First CT Credit Union (Wallingford).

Not really. Leaning towards Fairfield County Bank right now.

[riffwraith]

I just called M&T, and there is no limit on how much money per month you can deposit into our account.

[JayCT]

Originally Posted by WouldLoveTo

Webster is good

Are there credit unions in your area? I'm currently with American Eagle but have also used Dutch Point and First CT Credit Union (Wallingford).

Webster is now the state’s premier local bank. I think it will pick up a lot of Peoples United business.

We recently had dealings with Middletown’s Liberty Bank. It was a very good experience. I hope they expand across the state. Jay

[WouldLoveTo]

Originally Posted by JayCT

Webster is now the state’s premier local bank. I think it will pick up a lot of Peoples United business.

We recently had dealings with Middletown’s Liberty Bank. It was a very good experience. I hope they expand across the state. Jay

It's funny because I had Webster accounts about 15 years ago. At that time you couldn't get a business account with a credit union. Around 2010 they came out with fee structures that I couldn't afford, worse on the business side than personal. Someone referred me to American Eagle and they also offered business accounts. I've been happy there since.

But many of my clients have Webster and I've had pretty good experiences with them through the clients in the past 5 years. I don't hesitate to recommend them anymore.