7 things to know about People’s United Bank accounts moving to M&T over the Labor Day holiday

The long Labor Day weekend is usually a time for backyard barbecues and beach outings, but for hundreds of thousands of People’s United Bank customers in Connecticut it also will mean planning for three days without online or mobile banking.

Those popular services will be shut down from 5 p.m. on Friday, Sept. 2 until Tuesday, Sept. 6, as People’s United accounts are moved to the computer systems of Buffalo-based M&T Bank. M&T acquired Bridgeport-based People’s United in April for $8.3 billion.

People’s United branches also will be closed throughout the Labor Day weekend, but People’s United customers will have access to cash at ATMs throughout the weekend. M&T debit cards will be mailed to People’s United customers two to four weeks before “conversion weekend,” and can be used beginning Saturday, Sept. 3. Credit cards can also be used without interruption.

In a statement Wednesday, M&T said it was committed to making the conversion as seamless as possible for customers and working to get mobile and online banking up-and-running as soon as possible.

“As is standard with these types of conversations, online and mobile banking services will be temporarily offline to ensure customer information is moved safely and accurately between systems,” the statement said.

M&T said its call centers would be open for questions from customers during the conversion.

A lot will be riding on a smooth transition for M&T. With the exception of a handful of branches in Fairfield County previously, M&T is a new name to most of Connecticut, and M&T has acquired one of the largest Connecticut-based banks.

A big attraction for the acquiring bank in mergers are scooping up huge pools of existing customers. But the challenge is holding on to them and making a favorable first impression in combining systems is considered crucial.

Here are seven things to know about the transition of online and mobile banking accounts, plus other changes:

1. Know your security information.

People’s United customers should know their current user ID and password, plus confirm that contact information is up-to-date. M&T also advises saving or printing People’s United online statements and documents because they will no longer be accessible after the conversion.

2. Watch your email.

An email will outline the steps for logging into M&T online and mobile banking for the first time on Sept. 6. Customers will use their People’s United user ID and password. One note: M&T uses the term “passcode” but it means the same as “password.” M&T encourages former People’s United customers to log in and verify information.

3. Check your online or mobile bill paying.

The list of creditors and scheduled bill payments will be automatically transferred from People’s United to M&T if they are linked to a checking account, or if customers have logged into People’s United online or mobile banking in the last 18 months. There are some exceptions, including bill payments from savings accounts or other “unsupported” accounts; bill payments funded from a business account; and bill payments to an international creditor, among other exceptions.

Customers should also verify all creditors and scheduled payments transferred successfully.

More information on mobile and online banking can be found at https://www3.mtb.com/homepage/about-us/welcome-to-mandt/peoples-united/mobile-and-online-resource-center-personal

4. Be aware of lower mobile check deposit limits.

Daily mobile check deposit limits will be lower at M&T than previously established by People’s United. The new limits can be seen by logging into the mobile banking app or online banking.

5. Take note of new account numbers.

M&T is migrating People’s United checking and savings accounts to similar M&T accounts. The account numbers will be mailed to account holders. One note: customers should take note of any changes in monthly maintenance fees if a certain minimum balance is not kept in the account. Some of the monthly fees may be waived immediately following the conversion.

6. Get familiar with changes in debit cards.

The ability to limit card spending by transaction type, merchant type, location or dollar limit will not be available for M&T accounts.

7. Watch the mail and look online for more information.

“Welcome Packets” have begun arriving in the mail and more information is available on M&T’s website. In advance of the conversion, customers with questions can call their local branch during business hours or 1-800-724-2440.

Kenneth R. Gosselin can be reached at kgosselin@courant.com.