Regulation E Protections

Understand your rights and responsibilities when it comes to electronic fund transfer systems for consumer and non-consumer deposit accounts.

1. Consumer Deposit Accounts

The Consumer Financial Protection Bureau's Regulation E ("Regulation E") provides a basic framework that establishes the rights, liabilities and responsibilities of participants in "electronic fund transfer" systems. This framework provides consumers with certain protections for personal deposit accounts. A "consumer" means a natural person and, therefore, Regulation E protections apply to consumer accounts established primarily for personal, family or household purposes.

The term "electronic fund transfer" (EFT) generally refers to a transaction initiated through an electronic terminal, telephone, computer or magnetic tape that instructs a financial institution either to credit or debit a consumer's deposit account. Examples of electronic fund transfers include automated teller machine (ATM) transactions, point-of-sale (POS) or purchase transactions done using a debit card and preauthorized transfers from or to an account (such as direct deposits). In addition, transactions performed using M&T Online Banking services are also covered under Regulation E.

Regulation E has a variety of consumer protections. By example, Regulation E helps protect consumers against losses relating to unauthorized electronic fund transfer(s) involving their M&T personal deposit accounts.

Your Liability for Unauthorized Transfers or Payments: Tell us AT ONCE if you believe your access device, access codes, user identification or passcode has been taken or used without your permission. If you notify us within two (2) business days after you learn of the loss or theft of your account access device, user identification or passcode, the most you can lose is $50 if someone accesses your account through that device. Failure to notify the bank within two business days may result in losses up to $500. Also, if your statement shows EFT(s) that you did not make, tell M&T Bank at once. If you do not tell M&T Bank within 60 days after the statement was mailed or otherwise made available to you, you may not get back any money you lost after the 60 days if M&T Bank can prove that the bank could have stopped someone from accessing your funds if you had told the bank in time.

For more information on the above and regarding other Regulation E protections involving your personal deposit accounts at M&T Bank, please refer to the relevant M&T account related agreements, documents and/or disclosures (e.g., the M&T Digital Services Agreement, M&T Bank General Deposit Account Agreement, and the M&T Bank Electronic Banking Card and Telephone Transaction Disclosure and Agreement).

If you believe that your user identification, passcode or access codes have been lost or stolen or that someone has made payments, transferred, or may transfer money from your consumer deposit account without your permission, notify us AT ONCE by:

  • Calling us at: 1-800-790-9130
  • ​Writing us at: M&T Bank, P.O. Box 4627, Buffalo, New York 14240-4627

NOTE: Lending accounts, such as credit cards, may have other protections concerning unauthorized transactions. Please inquire for details. Also, non-consumer deposit accounts offered by M&T Bank (e.g., commercial or business banking customer accounts) are not protected by Regulation E.

2. Non-Consumer Deposit Accounts

Any non-consumer deposit accounts offered by M&T Bank (e.g., commercial or business banking customer accounts) are not protected by the Consumer Financial Protection Bureau's Regulation E ("Regulation E"). Please refer to the relevant agreements with M&T Bank (e.g., Commercial Deposit Account Agreement, M&T Digital Services Agreement, and the Electronic Banking Agreement for Businesses) for information on rights, liabilities and responsibilities for participants in electronic fund transfers in the non-consumer setting.

Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with applicable laws and agreements. Please contact an M&T representative for full details.