M&T Bank

Overview / Commentary
345 Main Street
Buffalo, NY 14203

M&T Bank is a publicly traded (NYSE: MTB), New York-based bank that offers an array of personal, business, and commercial banking products and services. With over 15,000 employees, and tens of billions of dollars in assets, M&T is one of the largest commercial banks in the United States.

On its personal banking side, M&T Bank offers checking, savings, Money Market, and Certificate of Deposit (CD) accounts, as well as investment guidance, retirement planning, and web trading services. Checking account options are numerous and range from free and basic to premium and interest bearing. The bank’s free and college checking account options are very similar and come with no monthly fees and a check card. The premium checking account offers minimal interest and has a monthly service charge that can be avoided by either keeping a minimum account balance or taking out a mortgage loan with the bank. All of M&T Bank’s checking accounts allow account holders to avoid an insufficient funds charge when the violating purchase is less than $5. A savings account is available with a low yield and a monthly service charge unless certain requirements are met. Two Money Market account options are available: one MMA has no monthly service fee but offers a low interest rate, and the other MMA offers more competitive rates with a monthly service charge. Certificates of Deposit (CDs) are available in term lengths ranging from 6 to 60 months.

M&T Bank online banking provides a secure system for account holders to view past transaction history, transfer funds, pay bills, and set account alerts. The M&T website is optimized for mobile banking, and the bank has released a smartphone app to make it easy and convenient to perform the above tasks while on the go.

M&T Bank was originally established in 1856 and is headquartered in Buffalo, New York. The bank is a subsidiary of M&T Bank Corporation, a bank holding company that has grown substantially through numerous acquisitions of financial institutions in the past 25 years. M&T Bank maintains a multitude of branches located throughout the Midwest, Northeast, and parts of south Florida.

Best everyday bank and beyond

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Great customer service throughout its many branches. Amazing online banking and mobile. Has an easy to use ability, great look and feel. Offer many good products with great rates and free checking and savings accounts including promotions such as free $150.00 with direct deposit in a checking account.

Unreasonable Fees

M&T Bank was one of the first banks I had a checking/savings account with, and while they are very professional and have a very responsive and efficiente customer support, their products and fees are not up to today's standards. The overdraft fee is quite high compared to other local banks and unions, and their savings account do not yield as much interest as I had hoped. Also, their cellphone app was very outdated and difficult to use, definitely something that I was unhappy with because I definitely missed having the option of seeing my balance, among other things, online. As a first bank for a teenager or young adult who's starting out in the financial world, this isn't that bad of an option, but you should definitely switch to a bank or union with better fees and product options eventually.

M and T Bank

I had had a checking and savings account with them for over 5 years with no issues. All of a sudden I'm getting overdrafts, 1 or 2 a week. I know I'm being careful and watching what I spend and what gets deposited when. $40 overdraft fee, times 2 is ridiculous. So I go to my local branch and speak with them about this issue, they agree to remove the overdraft charges and I contentedly left. It happens again the following week only this time they won't remove the fee and expect me to pay it. Furious I started looking over my bank statement comparing it to the days I did actual transactions and I realized that the dates of my purchases weren't in the right order. If they would have been my direct deposit would have been in and everything would have been covered. Instead of taking out my purchases in order, they arranged them so I would get an overdraft. Going back 3 weeks I see they have been doing this for awhile. I bring this to the bank managers attention and am given a bunch of excuses. I closed my account and haven't been back


I am writing this complaint that is in regards to the institution M&T Bank. I opened up my M&T bank account online while living in Maryland. Once I moved back to Georgia I began having issues with their banking system. Within March 2020 I noticed my M&T banking card was no longer working. I called M&T and they informed me that my accounts were no frozen due to “suspicious zelle activity”. Just a week ago I zelle myself 1000 dollars from my other account with a different bank since I did not live in a state where there was a physical brand to fund my accounts with M&T. I was then told that an investigator was going to call me and inform me about that matter. I waited 2 weeks and still no one had the decency to call me. I called M&T back and the manager and the supervisor could not help me at all, and just let me know that an investigator was going to call me. It has now been 2 months and not a single soul from M&T has informed me about this matter via cellular device or a letter via online banking or via the mail. I was then told when I called again that my accounts were going to be closed in May, and that I was going to receive a letter in the mail that Friday about the matter. It has been another 2 weeks and I have not received any letters pertaining to this matter. I only received old bank statements. Today I looked into my online banking with M&T and noticed that 400 dollars was deducted from my account titles “Zelle Return”. I am completely fed up with this institution. Not only did they not follow proper protocol to let the customer know what exactly is going on with their finances, but they also are taking it upon themselves to extract funds out of my account without any explanations. I am asking if you all will please step in at this point legally because they must be stopped.



Health Grade Components

FDIC Certificate #588
Year Established1856
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD6.49%
Annual Interest Income$2.15B
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$139.2B$121.1B
LoansQ2 2020vs Q2 2019$96.01B$88.70B
DepositsQ2 2020vs Q2 2019$116.4B$93.18B
Equity CapitalQ2 2020vs Q2 2019$15.59B$15.20B
Loan Loss AllowanceQ2 2020vs Q2 2019$1.64B$1.03B
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$1.18B$1.02B
Real Estate OwnedQ2 2020vs Q2 2019$66.5MM$71.9MM
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Always verify rates and promotions with the bank or credit union. We are not M&T Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

M&T Bank Savings Account Rates

0.02%$1$100kRelationship Savings
0.02%$1$100kM&T Starter Savings

M&T Bank Money Market Rates

0.25%*$10k*$1mMyChoice Money Market (Regular) - 1st 3 months intro rate (New Money)
OTHER TIERS: 0.05% $1 - $10k | 0.20% $1m+
0.25%*$10k*$1mMyChoice Money Market (Premium) - 1st 3 months intro rate (New Money)
OTHER TIERS: 0.05% $1 - $10k | 0.20% $1m+
0.10%*$50k*$1mMyChoice Money Market (Regular)
OTHER TIERS: 0.03% $1 - $10k | 0.08% $10k - $50k | 0.09% $1m+
0.10%*$25k*$1mMyChoice Money Market (Premium)
OTHER TIERS: 0.03% $1 - $10k | 0.08% $10k - $25k | 0.09% $1m+

M&T Bank Checking Account Rates

0.05%*$100k*$1mMyChoice Premium Checking
OTHER TIERS: 0.01% $1 - $50k | 0.03% $50k - $100k
0.01%$1$1mMyChoice Plus Checking

M&T Bank CD Rates

0.10%$1k$1m24 Month Select Promo CD
0.10%$1k-24 Month Promo CD


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