This one has officially expired. View more M&T bonuses here.
Offer at a glance
- Maximum bonus amount: $150
- Availability: AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV
- Direct deposit required: Yes, $100
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Yes, one per account
- Credit card funding: None
- Monthly fees: Avoidable
- Early account termination fee: $50 180-days
- Household limit: None
- Expiration date: May 24th, 2017
Contents
The Offer
No direct link to offer (go to mtb.com/checking and enter promo code QE, supposed to be targeted but hasn’t been enforced in the past)
- Open any new M&T checking account by May 24th with the promotional code QE and receive a sign up bonus of $150 when you do the following:
- Set up a qualifying direct deposit of $100 or more within 90 days of account opening
The Fine Print
- Only one bonus will be awarded regardless of the number of accounts, titling on account and the number of direct deposits arrangements established.
- Qualifying direct deposits include but are not limited to electronic deposits such as payroll or social security and do not include electronic money transfers or credits such as account-to-account transfers or those made through internet payment services
- Bonus will post to the account within 90 days of meeting the direct deposit requirement
- Limited to one bonus per customer
- Offer may vary by region and product
- Offer is nontransferable
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
EZChoice Checking
This account has a monthly fee of $6.95
- Monthly fee is waived by making just ONE transaction such as a deposit, withdrawal, or debit purchase.
Early Account Termination Fee
Looks to be $50 now if closed within 180 days
Our Verdict
M&T Bank doesn’t seem to limit you to just one bonus, the state restriction isn’t enforced either. I really don’t know how long this can/will last. They also have the following offers:
- M&T Bank $150 Checking Bonus – Available Online (QC) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
- M&T Bank $150 Checking Bonus – Available Online (QD) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
- M&T Bank $200 Checking Bonus (QI) – Available Online [CT, DC, DE, MD, NJ, NY, PA, VA, WV]
- M&T Bank $250 Checking Bonus – Available Online (QH) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
Added to our best bank bonus page.
Big thanks to reader, Randy C who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
Has anyone had luck gaining the bonus outside of the targeted states? I want to get a piece of this action.
I’ve received the bonus’ with no problem in Vermont.
Hey Doc do you happen to know if ACH withdrawals done, say from the Wells Fargo app would qualify for the 1 monthly transaction fee waiver? I didn’t set up the debit card for all of my m&t accounts though they are nice 🙂 buffalo bills, ravens
What is the actual risk of opening “too many” accounts? If they are approving them and giving you a bonus, that’s on M&T. They clearly have poor controls as people are successful in using the same promo code more than once and getting the bonus. Would love to hear why people will open 5-10 accounts and then decide to lay low.
Probably because you run out of current coupon codes 😉 I’m at 8 accounts and I only have 1 more unused coupon code that expires June 30th. I’m hoping they release some more codes.
you can reuse codes
and give them a reason to prosecute you?
If they let you reuse them that’s their problem.
@Mike
The whole idea (for me at least) is to stay under the radar so that I can (hopefully) be able to close some accounts before opening new one’s with NEW codes. This way I can (in an ideal situation) take advantage of of future promotions for long term benefits.
By opening too many accounts and especially reusing codes there are more chances of getting caught at an audit, If they telly the number of people who opened accounts using a specific code and they find that the numbers don’t match ( for example, if 100 people used the code but the number of accounts opened with that code was 120) which will lead to review of each and every account. On the accounts review they will also find out that each of these people opened 8 accounts then the matter will be referred to fraud department followed legal department who will decide what action to take. If the number of people involved in this “fraud” are large enough and the financial loss is big enough they will take action to recuperate the loss of money from us.
So, as I always say, please don’t kill the Golden Goose with your greed which will certainly be killed by reusing the codes and EVERYONE will end up paying back ALL the bonuses at the least.
Just my 2 cents
While I definitely re: re-using codes, I’m still not clear on how you’ve determined when “enough is enough” re: # of accounts? I assume you have more than 1, so clearly you determined the risk of opening multiple accounts was worth it. You’ve alluded to wanting to stay under the radar, though. What, exactly, would that look like? 2 accounts is okay, but not 3. 3 is okay but not 4.
I apologize for hounding you on this a bit, but I just feel like if you’re going to raise the specter of clawbacks/killing golden geese, you ought to be offer more clarity about how far is too far (based on your calculations).
For me “enough is enough” at using each eligible code once, which has yielded me $900 in bonus’.
I also live in Vermont, which is not a state that is listed as eligible, so there is that too.
Pretty much the same here — use available codes once and call it a day. I haven’t gone for the $250 codes, because I didn’t want to hassle with trying to convert the higher mothly fee account to the basic account, partly out of risk aversion and partly out of pure laziness:)
Anyway, it seems like applying for each code once is probably the norm/average around here. Probably some folks trying to use codes more than once, which feels incredibly sketchy to me (and a clear violation of the terms, as I read them), while probably some others not even doing all the codes or spacing them months apart. Definitely interesting to hear each person’s experience/data point – thanks for sharing yours.
Just so you know in case the $250 codes come back, it was no hassle at all to downgrade the account via SM.
Thanks for the info, Eric. I’ll definitely keep it mind if/when some new $250s roll out:)
It seems like new M&T accounts appear on your online account every Wed and Sun. I think if you don’t get an account number at sign up you’ll have to wait at least a business day before it shows up. If you get an account number at sign up it’ll show up same day if it’s a Wed or Sun.
This code (QE) has expired but you can still use the code (QC) till June 30th
https://www.doctorofcredit.com/mt-bank-150-checking-bonus-available-online-qc-az-ct-dc-de-md-nj-ny-pa-va-wv/
Trying to apply for wifes 3rd account. I cant get the apply online window to open, Anyone else confirm? EZ Choice links all dump back to account main page. Apply online and open online links all defer to same place. Tried on Chrome, IE and in incognito mode. Is the fun over?
Looks like its back up. Maybe they were down for system maintenance? haha We know that isnt true.
There was a service announcement for system and website maintenance for this weekend.
Ive lost track of what M&T codes i’ve used over the past few months. Anyone know what happens when you use a code you’ve already used in the past?
All I know is i’ve collected $250, $200, and $150 so far since Feb.
This is why keeping meticulous records is crucial when playing this game. The terms forbid it, and it’s not something I’d be willing to do. Your only option is to match up the dates you applied for the specific bonuses and look for ones that have already expired and weren’t available when you originally applied for the accounts.
I know I’ll get a lot of gruff (see Ken) but I’ve successfully reused the same code 2x for both me and wife. All times I have received the bonus again. Note that when asked if I already have account during application, I always answer honestly. Not only have I not had a problem, but M&t always calls me after opening new account thanking me and asking if there is anything else they can do for me.
Thanks! Definitely the answer i was hoping for.
Please don’t kill the Golden Goose by using a code twice.
You might be successful for opening the account and even getting the bonus but it might come to bite you (and everyone else) in the behind later once they start reviewing the applications due to audit due to mismatch.
Your browser might’ve saved them. Go to the application and type Q in the promo code box. Mine shows a list of the ones I used
Damn, just tried for the first time to apply and got the dreaded, “unable to open online” message. If I am reading right, lay low for two weeks and try again?
Not sure why this happened. Not too many accounts this year and none with M&T.
2 weeks later I got one more account opened (#4) but I haven’t been able to get anymore even after waiting 2 weeks again, just got that message. Someone suggested waiting a month, so that’s my next step.
@Jeff G
Since this was your first time “lay low for two weeks and try again” strategy won’t work.
You will have to go to the branch to open a account.
No way around it.
Score! Just did QE, and it was the first time the new account showed in the old log-in instantly. Transfer already initiated, bonus (hopefully!) soon coming.
Gotta say, these bonuses have been a lifesaver for us in the midst of a series of unexpected, not to mention hefty, life expenses. Thx, MnT!
When you guys enter the codes do they show on the next step? When I do it they are not in the summary so I have no idea if they applied. I already got burned once I believe from this.
They don’t show. As long as you entered them where required you’re good to go.
It is never referenced again, until the bonus posts. Thats why I double check the code to be absolutely certain.
Thanks, Yea I don’t know what happened to the first it was on mobile, but the following two I double checked. Thanks for the responses