UPDATE 12/21/2016: Offer extended through February 28, 2017.
M&T Bank has been offering new checking account bonuses on a regular basis for the past several years, with the latest promotion being a $150 cash bonus, available now through
December 31, 2016 February 28, 2017. Eligibility can be determined by entering your Zip Code on the promotion page.
$150 Bonus Qualifications:
- Open a new M&T Bank checking account by February 28, 2107.
- Have one qualifying direct deposit of at least $100 within 90 days of account opening.
M&T Bank has several checking accounts to choose from - EZChoice Checking, MyChoice Checking, MyChoice Premium Checking, Classic Checking, and Basic Banking - and all qualify for the $150 bonus. There are monthly fees on M&T Bank’s checking accounts, but they can be waived, with the exception of the Basic Banking’s $3 monthly fee.
|0.05*%||$100k||-||M&T Bank||MyChoice Premium Checking|
|0.01%||-||-||M&T Bank||M&T Classic Checking|
|0.01%||-||-||M&T Bank||MyChoice Plus Checking|
The fine print for this bonus adds a new potential fee:
A $6.95 monthly maintenance charge will apply unless at least one
deposit or withdrawal is made during a monthly service charge cycle.
- Available only for new checking account customers.
- Bonus will be credited to the account within 90 days of direct deposit activation, but the account must be in good standing.
- There is an early termination fee of $50 if the account is closed within 180 days of opening.
- There is a limit of one bonus offer per account per household, and cannot be combined with other bonuses.
Headquartered in Buffalo, M&T Bank is the 17th largest bank in the nation, with branches located mainly in the Northeast and Mid-Atlantic states. Established in 1856, M&T Bank currently holds assets in excess of $126 billion.
Applying for the M&T Bank $150 new checking account bonus can be done online, or in person at any of more than 800 full-service branches, located in Connecticut (9), Delaware (42), Florida (1), Maryland (171), New Jersey (98), New York (274), Pennsylvania (174), Virginia (27), West Virginia (2), and the District of Columbia (8).
If applying in person, the Cash Back Coupon (delivered via email) must be presented at time of account opening.
M&T Bank (FDIC Certificate # 588) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 9.32% (excellent) based on September 30, 2016 data. In the past year, M&T has increased its total deposits by $25.58 billion, an excellent annual growth rate of 24.56%. (M&T Bank acquired Hudson City Savings Bank of Paramus, New Jersey in the past year.) Please refer to our financial overview of M&T Bank for more details.
How the $150 Bonus Compares
I’ve chosen 120 days for this comparison because the bonus will be credited to the account within 90 days of direct deposit activation.
- $100 for 120 days in a new M&T Bank checking account = $150 bonus
- $100 for 120 days in a savings account earning 1% = less than $1 interest
The above rates are accurate as of 12/21/2016.
Other Bank Promotions and Bonuses
Not eligible for the M&T Bank checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Deals Forum.