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.

My review of M and T Bank and Credit Union

Posted by: |

I recently had a visit to my local M and T branch regarding a car loan and the manager on hand was very helpful, offering to switch my savings account to a more preferably account status that would allow for a lower interest rate, if I wanted to take out a loan. The manager was kind and detailed. I trust M and T Bank and had a great experience.

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

Horrible Service & Lied To

Posted by: |

Was scammed online in July; cancelled transaction with the crook, called M&T immediately and was told the money would not go through until the 12th. On the 12th they put the money through after telling them I was scammed/robbed. Was promised that someone would get in touch, would receive paperwork to fill out & complete, told to keep all correspondence. 3 days later & no paperwork but the money was put through! Called the bank and got a finger waving that I shouldn’t have done it; I was a victim of a crime &, well aware. I asked about the paperwork; was told it should be there soon. On 6th day nothing; sent follow up email and to this day no phone call or email back. I received a letter stat”after a through investigation…” the claim was denied. I’m not sure how thorough because no one has yet to call or paperwork filled out. Called customer service, who was only department who followed up about the way I was treated and was told it would have been different if it was a million dollar transaction not my puddly 2,000. After being a customer for 50 years this is how treated. My money is nothing to them and if there is a fraud department it’s a joke because no one has contacted me. Would never use this bank or recommend & if I could give a negative rating I would. Unless you have millions or don’t mind being lectured rather than having the department contact me,don’t bother. Again customer service did what they could, but not able to do anything.



Health Grade Components

FDIC Certificate #588
Year Established1856
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.23%
Return on Equity - YTD11.21%
Annual Interest Income$1.98B
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$150.2B$139.2B
LoansQ2 2021vs Q2 2020$95.45B$96.01B
DepositsQ2 2021vs Q2 2020$129.7B$116.4B
Equity CapitalQ2 2021vs Q2 2020$16.32B$15.59B
Loan Loss AllowanceQ2 2021vs Q2 2020$1.57B$1.64B
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$2.23B$1.18B
Real Estate OwnedQ2 2021vs Q2 2020$27.3MM$66.5MM
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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%*$100k*-Relationship Savings
OTHER TIERS: 0.01% $1 - $100k
0.02%*$100k*-M&T Starter Savings
OTHER TIERS: 0.01% $1 - $100k

M&T Bank Money Market Rates

0.02%$1-MyChoice Money Market (Regular)
0.02%$1-MyChoice Money Market (Premium)
0.02%$1-MyChoice Money Market (Regular) - 1st 3 months intro rate (New Money)
0.02%$1-MyChoice Money Market (Premium) - 1st 3 months intro rate (New Money)

M&T Bank Checking Account Rates

0.01%$1-MyChoice Premium Checking
0.01%$1-MyChoice Plus Checking

M&T Bank CD Rates

0.05%$1k-12 Month Select Promo CD
0.05%$1k-12 Month Promo CD


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