Reddit user forgivenfreeonfire was given the following explanation when they asked about their opening deposit on a closed account:
- Our records indicate that you have opened multiple accounts and received promotional bonuses on previously opened accounts. Your account ending in 0592 has been flagged due to this previous activity and we have determined that the additional account will not remain open. If you have a legitimate reason to need another account, please step into an M&T branch office and they can assist you.
I’ve had several reports from readers in the last week that M&T has closed down their newly opened accounts. This seems to be only affecting people that opened with the code QD & not QC. There is also some additional discussion of this issue happening on /r/churning. This isn’t terribly surprising given that M&T has been cracking down lately (first with enforcing location requirements & now requiring bringing the mailer in branch). It’s still something people should be aware of, feel free to share your own experiences in the comments below. Also worth pointing out that I think this is only affecting people that have opened multiple accounts using the same code, but not 100% sure on that.
