M&T Bank $400 Checking & Savings Bonus – Available Online [CT, DC, DE, MA, MD, ME, NH, NJ, NY, PA, VA, VT, WV]

Update 4/1/24: Deal is back, this time for $400. Promo code TE and valid until 5/31/24

Update 3/4/24: Deal is back, this time $350. Valid until 3/29/24.

Update 1/5/24: There is now a $400 checking offer, requires a $1,000 direct deposit and promo code TK

Update 11/5/23: Deal is back until 11/24/23 .

Update 10/19/23: Deal is back until 10/27/2023.

Update 9/19/23: Deal is back valid 9/29/23. Bonus is $350 this time. Promo code is CA.

Offer at a glance

• Maximum bonus amount: $100/$150/$200/$250/$350
• Availability:  CT, DC, DE, MD, NJ, NY, PA, VA, WV
• Direct deposit required: Yes, $500
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: Avoidable
• Early account termination fee: $50, 180-days
• Expiration date: July August 15, 2018 September 5, 2018 October 31st, 2018 November 26th, 2018 January 16th, 2019 February 25th, 2019 April 1st, 2019 May 13th, 2019  March 2, 2020 September 15, 2020 January 11, 2021 April 5, 2021 October 5, 2021 April 30, 2022 May 27, 2022 June 28, 2022 February 24, 2023 August 25, 2023
• Household limit: None listed

The Offer

New link

Input your zip code and see what offers show for you:

• ($350) Open an M&T MyChoice  Premium checking account and receive a sign up bonus of $350 & maintain a $10,000 average daily balance in November 2022 and December 2022. Promo code TK. Can also get a $100 bonus when you open a MyChoice Money Market account.

The Fine Print

• We will credit one cash bonus to the account if the account receives a total of at least $500 in qualifying direct deposits within 90 days of account opening.
• Qualifying direct deposits include, but are not limited to, recurring electronic deposits such as payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers such as those made through internet payment services do not qualify.
• Bonus will be credited to the account within 90 days of direct deposit activation as long as the account is in good standing and all of the eligibility requirements are satisfied at the time we seek to credit the bonus.
• Only one Premium Checking Bonus and one Direct Deposit Bonus will be awarded per customer regardless of the number of accounts opened.
• The bonus(es) are not available to existing personal M&T checking account customers, or those whose accounts have been closed within 180 days, employees of M&T Bank or any of its affiliates, or customers who have received a bonus in connection with a personal M&T checking account within the preceding twelve-month period.
• A $50 early close-out fee applies if the account is closed within 180 days of opening.
• Bonus offers may vary by product and region, are not transferable and are reportable for tax purposes.
• 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 no monthly fees.

Basic Banking

This account has a non-waivable $3 monthly fee.

Classic Checking

This account has a monthly fee of $4.95 that can be waived with any one of the following methods:

• Have at least 1 direct deposit to your M&T Classic Checking with Interest account
• Keep an average daily balance of $500 or more in the account per monthly service charge cycle
• Make 10 or more debit card purchases or payments
• Keep combined balances of $1,500 or more in eligible personal deposit accounts

MyChoice Plus Checking

This account has a monthly fee of $14.95 that can be waived with any one of the following methods:

• Keep an average daily balance of $2,500 or more in the account per monthly service charge cycle
• Have direct deposits to your MyChoice Plus Checking account totaling at least $1,500 per monthly service charge cycle

MyChoice Premium Checking

This account has a monthly fee of $24.95 that can be waived with any one one of the following methods:

• Keep an average daily balance of $7,500 or more in the account per monthly service charge cycle
• 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

The direct link above is just a generic M&T website link, so the bonus should work for any zip code deemed eligible (not sure what the “not transferable” means in the fine print). I’m assuming this bonus is available in the the states listed above, as was the case last time around (note it won’t work in all areas in those states). Let us know if you see eligible areas elsewhere. Remember, you can’t do this if you’ve gotten a bonus within 12 months.

There’s also a $50 referral offer from M&T which should stack with the regular bank bonus. More  details and referral sharing can be found on this dedicated page. Do not share referrals in the comments here.

Thanks to reader Michael for letting us know about this bonus. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• 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
• Bank Bonus Posting Times

Bonus history

• Update 7/6/23: Another bonus option can be found at this link – get $200 and $150 with potentially easier requirements. (ht Yukun) Again, this should also stack with the $50 referral offer.
• Update 7/3/23: Extended through 8/25/23 with promo code CC. Referral $50 offer still around too as a stack. (ht Shawn)
• Update 6/15/23: There’s also a $50 referral offer from M&T which should stack with the regular bank bonus. More  details and referral sharing can be found on this dedicated page. Do not share referrals in the comments here.
• Update 5/14/23: New $450 link. Does say use code found in the mailer, but the landing page says the code is CB so unsure if that is enforced.
• Update 3/1/23: new $350 link
• Update 2/27/23: the $350 and $450 links are expired. Here’s a lower $200 link.
• Update 1/22/23: here’s a $450 link  (ht jd) and another link (ht DailyGrindit)
• Update 12/2/22: Bonus is down to $350 with promo code CJ, new link here, valid through 1/27/23 (ht Jim). There’s another link here for $250/$350 which is valid through 2/24/23.
• Update 10/14/22: $450 bonus is back.
• Update 10/13/22: $350 bonus is back, not as good as the $450 bonus. Valid until October 28, 2022
• Update 9/5/22: The $450 is expired. Seems only $200 is now available (link).
• Update 7/10/22: New $450 offer link here. Promo code UB. (ht Elena)
• Update 6/9/22: New $350 offer link, use promo code CC. (ht TallyTime)
• Update 4/28/22: $350 checking bonus + $100 direct deposit bonus now available online. Promo code TY
• Update 4/12/22: Instead of a savings bonus you can get a $100 direct deposit bonus
• Update 4/11/22: There is also a $100 savings bonus now as well. Hat tip to reader MC
• Update 4/2/22: Extended through June 30th
• Update 2/21/22: Extended through April 30, 2022. Hat tip to reader alopez14
• Update 1/13/22: Looks like there is a $450 bonus as well.
• Update 1/11/22: Extended through 1/28/22.
• Update 4/7/21: Extended through July 12, 2021
• Update 1/14/21: Extended through April 5, 2021 now
• Update 7/1/20: Extended through September 15, 2020. It seems like promo codes are now state restricted. E.g TH doesn’t work in NJ/NY.
• Update 3/11/20: New $250 checking/$100 savings bonus with promo code TK. Hat tip to Peckerwood17. Valid until 6/1/20 Looks like the TK promo code has not been extended.
• Update 1/15/20: There is a $400 bonus now.
• Update 1/7/20: Deal has been extended until March 2, 2020.
• Update 11/8/19: Deal has been extended until January 6th, 2020.
• Update 8/20/19: Deal has been extended until November 4th, 2019.
• Update 7/10/19: Deal has been increased to $300 for MyChoice Plus or Premium & $200 for EZchecking & basic. Hat tip to readers Sean A & Allen W
• Update 7/2/19: Now available until August 19th, 2019
• Update 5/14/19: Deal is now available until July 1st, 2019.
• Update 4/7/19: $350 bonus now available in branch. Hat tip to reader Gerald
• Update 2/26/19: Bonus has been extended until April 1st, 2019.
• Update 1/17/19: Offer has been extended until February 25th, 2019.
• Update 11/28/18: Offer has been extended until January 16th, 2019.
• Update 11/01/2018: Offers extended until November 26th, 2018
• Repost 09/17/18: There is now a $300 in branch offer. Details below. Hat tip to Lazy Traveler’s.
• Repost 8/19/18: Offer extended through September 5, 2018. 
• Repost 7/19/18: Offer extended through August 15th.