This bonus has expired and is no longer valid. Click here to view the best current checking bonuses.
Offer at a glance
- Maximum bonus amount: $250
- Availability: AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV
- Direct deposit required: Yes, $100
- Additional requirements: Open MyChoice account
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: None
- Monthly fees: Avoidable
- Early account termination fee: $50 180-days
- Expiration date: May 31st, 2017
- Household limit: None listed
Contents
The Offer
No direct link to offer (go to mtb.com/checking and enter promo code QH, supposed to be targeted but hasn’t been enforced in the past)
- Open a new M&T MyChoice Premium checking account by May 31st, 2017 with the promotional code QH and receive a sign up bonus of $250 when you do the following:
- Set up a qualifying direct deposit of $100 or more within 90 days of account opening
The Fine Print
- Primary signer on the new checking account may not be or have been a primary or secondary signer on any M&T personal checking account within the previous six (6) months. Only one bonus awarded per household
- 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
Unlike other M&T bank promotions, this one only works on the MyChoice Premium checking account. First month fee is waived according to this comment.
MyChoice Premium Checking $24.95 Per Month
This account has a $24.95 per month fee, this is waived when you do either of the following:
- Keep an average daily balance of $7,500 or more in the account per monthly service charge cycle OR
- Keep total combined balances of $25,000 or more in eligible personal deposit accounts, loans and home equity outstanding balances, investments6 and business deposit accounts
Early Account Termination Fee
Looks to be $50 now if closed within 180 days
Our Verdict
These bonuses from M&T keep stacking up (because you can seemingly churn them with no restrictions, one bonus per promo code). The deal is technically targeted, but not enforced. In addition neither is the state restriction…
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]
I really hope this continues. Also adding this to our list of the best bank account bonuses.
Big thanks to reader, Richard B who let us know. Learn how to find bonuses and contribute to the site here.
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- 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
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