HARTFORD, Conn. — Bankers with People's United Bank will notice some big changes this Labor Day Weekend.
As M&T Bank finalizes the process of merging People's with their company, People's United accounts will be making an official transition, happening Friday through Monday.
The deal to merge the two banks came through this past April after People's United exited a contract with Stop & Shop, where there are over two dozen branches across the state.
"This is really where we go from operating under two different systems to one where we make sure that the branding, that the customer experience that the employee experience is all under one roof," said Mike Keegan, M&T Head of Community Banking.
PREVIOUS COVERAGE: M&T Bank acquires Connecticut-based People's United
Here's a timeline of what will be happening this weekend:
BEFORE THE WEEKEND:
People's Bank customers should have received a Welcome Kit from M&T in the mail, which contains information on accounts, a guide to banking at M&T, and a consumer deposit terms and conditions form.
Customers should have received a new M&T Debit card in the mail two-four weeks ago. A pin number should come in separately.
FRIDAY:
People's ATMs will be down in the morning to convert the ATMs into one system. They should be up and running in the afternoon.
People's Bank branches will be closing early, by 3 p.m.
After 5 p.m., customers will not be able to access People's United Online and Mobile Banking accounts.
SATURDAY:
Activate and start using the new M&T Debit card. The minute the M&T card is activated, the previous card stops working.
Otherwise, existing People's cards can still be used for a few more weeks before they become deactivated on their own.
TUESDAY:
Branches will be open at their usual time.
It may seem a bit busier at the branches since bank colleagues will be partnered up to work together and better understand any system issues that could arise.
From this day on, access to bank accounts online will be available through M&T Mobile and Online Banking.
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Officials said they are hoping for a smooth transition without any disruptions, which is why they chose a long holiday weekend to work things out.
During the transition and beyond, safety and security are a top priority, especially when managing bank accounts online.
"There's a lot of cyber stuff going on, there's a lot of fraud that occurs, we want to make sure and we spend a lot of time making sure that we get it right," said Keegan.
M&T knows many people will have questions in the first few weeks, and M&T employees will work around the clock to help their new customers.
"So call volumes are going to be higher. We know that for the first week or two people will have questions. So understand that every one of our employees wants to serve and do the right thing. If it takes a little extra time, we apologize. I apologize in advance for that. But it's because we want to get it right. So lots more folks have been added to make sure that they're available to take your calls and your inquiries," said Keegan.
Customers can find frequently asked questions here.
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