Posted by William Charles on April 10, 2017
Bank Account Bonuses

Published on April 10th, 2017 | by William Charles

305

[Expired] M&T Bank $150 Checking Bonus – Available Online (QC) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]

This bonus has expired, click here to view the best current checking bonuses.

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: Unknown
  • Credit card funding: None
  • Monthly fees: Avoidable
  • Early account termination fee: $50 180-days
  • Household limit: None
  • Expiration date: June 30, 2017 September 30th, 2017 October 30th, 2017 December 8th, 2017

The Offer

Direct link to offer, when you e-mail the code it will show as QC when you open from that page it shows QD (go to mtb.com/checking and enter promo code QC, supposed to be targeted but hasn’t been enforced in the past)

  • Open any new M&T checking account by June 30th, 2017 with the promotional code QC 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

mt qc $150 bonus

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 $9.95, soon changing to $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:

Add to our best bank bonus page.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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Justin
Justin

Oh my lord what is going on

Michael (M.)
Michael (M.)

Haha, they must love giving out money…

Mike t
Mike t

Jesus #7 for me. Unreal.

Justin
Justin

Numero 8 here. Gonna wait to make sure the one I opened yesterday goes as expected first though. They apparently added new language to that offer excluding multiple bonuses

Mike t
Mike t

Oh thanks for the heads up. I’ll wait a minute too then.

Justin
Justin

Sure. The comment was a reply on the first comment on the post. Copy paste of relevant info:
It seems like it’s new language added with this offer. The other two current offers, QI $200,:
http://3ie87c2dond928rt2e2zzo8o.wpengine.netdna-cdn.com/wp-content/uploads/2017/03/mt-q2.jpg
and $150,:
https://bank.mtb.com/bonuscoupon/?pid=75&bposn=6-a-h-sp-n-p
don’t say anything about having past accounts. Some of the past M&T posts on here don’t say anything about past accounts either.

Justin
Justin

Bonus posted btw. I’m gonna open this one today or this weekend

Jon
Jon

Which promo code did you use on the one that had limiting language?

Justin
Justin

QI – the most recent $250 Premium bonus

Jon
Jon

OK thanks! I just opened that one too, I’ll check it out

Gadget
Gadget

QI was $200, any checking acct. I know, it’s hard to keep track of all the free money.

Ken
Ken

QI is the $200 bonus. QH is $250 bonus.

John
John

Can you still do this bnak promo if you already opened the M&T Bank $250 Checking Bonus a few days ago?

Kyle
Kyle

We’ve been able to stack bonuses from each promo code. Looks like they added a new language “Only one bonus will be awarded regardless of the number of accounts, titling on account and the number of direct deposits arrangements established.” so we’ll see how that plays out.

MarcoPolo
MarcoPolo

@John
I don’t see why not but read the T&C carefully.

Kyle
Kyle

DoC, looks like this one isn’t limited to the MyChoice Premium account like the last one. In your The Offer section, it points to the Premium specifically, but looks like any checking account will do.

Frito Pendejo
Frito Pendejo

I already did QC last year. Did they loop back around?

Jake
Jake

Just a heads up to everyone, M&T bank blocked me from opening accounts online with them for 60 days. When I called and asked about it they said I had been opening/attempting to open too many accounts…

I might print this coupon out and take it in branch to see if I can get the bonus that way.

Ken
Ken

How many accounts have you opened with them in the past few months?

Jake
Jake

I have seven accounts opened with them currently. I attempted to open more than that but failed the security questions on some of them so those did not go through.

Jake
Jake

Did this over the course of six months

Andrew S
Andrew S

How do you know?

Jake
Jake

I called M&T and asked why they’re website wasn’t allowing me to open new accounts.

Andrew S
Andrew S

What error were you getting?

James
James

Quick question since you have multiple accounts, can you confirm if transfers between M&T accounts are good enough to keep them fee free?

Jake
Jake

Don’t know. I just transfer a penny every month from ally bank. It’s an automatic transfer

dizzy
dizzy

I did this and it worked! Which is good because I still have a few days to go before I can close accounts #1 and #2, but #3 was accepted, but never showed up bc of an ID verification thing (I’m out of the country for another 2 weeks and can’t take care of it yet). My plan is to go into branch to verify. Then in another branch (they are all over NJ) close 1 & 2. Then proceed with more.

Marco
Marco

Transferring money between M&T accounts waives the fee? I just want to confirm.

dizzy
dizzy

On my account it did…I have 3 accounts right now although only one is showing (needed verification mailed in and I am out of the US). I’ve had $5 in each of the accounts since end of 2016, I just transfer $1 or so between each on the website once a month and I don’t see any fees applied.

mike
mike

that’s not good to hear.. how many accounts did you open just for yourself so far?

Jake
Jake

7

Ken
Ken

I was at 4 and looks like the 5th one was not opened for me. It’s only been 4-5 days so it may still pop up.

Barry
Barry

Did you open a few of them in the course of a short period of time? Maybe we can figure out where the computer cuts you off. I just started with this bank and decided to test it out. I opened 3 over the last 2 weeks on different days but when I tried for the 4th I got an error message saying come into the branch to open. (Never even made it to the id verification page on that one.)

Barry
Barry

Maybe the limit is 3 every 60 days?

Strema
Strema

I think you’re on to something. I opened 3 accounts since 2/27 and got rejected for the 4th.

Eric
Eric

What do you mean by “rejected”? What’s the message they gave you?

Strema
Strema

Eric – for some reason I can’t reply directly to you, so I hope you see this. I got a “cannot be opened online” error message and a phone number to call. I haven’t called, don’t want to raise any flags.

Ken
Ken

Not true for me. I have 5 accounts opened from 3/2 and ending 4/7 and that last account was manually opened.

Ben O.
Ben O.

What routing number do you use if you’re out of state? It seems like it “thought” my locations was NY when opening. Didn’t bother recording the routing number since I thought it’d be easy to fine. Didn’t know they had 3….

Ken
Ken

022000046 and I’m out of state too.

Yet Another Redditor
Yet Another Redditor

M&T Routings # are here: https://www.mtb.com/help-center/top-banking-tasks/find-routing-number

022000046 – New York, New Jersey and Connecticut
031302955 – Pennsylvania and Delaware
052000113 – Maryland, Virginia, West Virginia and Washington, DC

Not sure how it would work if you opened online and don’t live the the supposedly targeted states.

Ken
Ken

Like I said above you it’s 022000046 if you’re out of state.

Peter
Peter

I’m a PA resident and applied online. Was provided 022000046 as my routing number. The listed Pennsylvania and Delaware number may be for accounts opened in-branch or a legacy routing number.

bullfrog23414
bullfrog23414

Ditto

NBG
NBG

If you got that without the account#, i will change to the actual state specific one once they create the account#. The snail mail that comes with the account# shows that. Also, for online transfer from other bank, it doesn’t matter, as long as the account# is correct. When it happened to me once, i did guess the account# and did a transfer using the PA routing and it worked and bonus posted.

Deb
Deb

I’m a PA resident too. Opened all of ours online and got both the 022 and 0313 routing. Who knows how it decides. It even split on accounts we opened on the same offer code. One for hubby was one routing number, another for me was different routing number, same day opening, same address, same offer code, same laptop applied on.

Deb
Deb

Is it weird that I’m wondering what M&T is up to? Not complaining, but after going wow another one, going hmmm……

Wes
Wes

Think I will wait to see if this one actually gets paid out to people who have multiple accounts since it has the following language:

Only one bonus will be awarded regardless of the number of accounts, titling on account and the number of direct deposits arrangements established.

Limited to one bonus per customer

Not sure if they are just referring to this promo code or all promo codes.

Chris
Chris

I just applied for this and ran into two snags at the confirmation page that did not happen with my first two M&T bank accounts.

1st: They did not list anything next to “Account Number(s):”
With my first two accounts, this is where my account number was listed, so once I was able to see the account in online banking, I was able to set up the ACH from Ally. I don’t remember getting any other correspondence with my account numbers with the first two. Hopefully I don’t have to call in to get them this time. I will wait until I get everything in the mail before calling.

2nd: Under the line about their Switch Kit, in red, it says, “We were unable to use the PIN you provided. You will receive a separate mailing containing your new PIN.”
I used the exact same PIN as on my first account. I set a different PIN on my second account.

May I suggest to everyone else, try using a different PIN for each of your M&T accounts and hopefully you won’t run into the issues I did.

I’ll try to come back and update with any new useful information.

Ken
Ken

No problem, they’ll mail you a letter with your account number or it will show up in other M&T logins. For me I didn’t even get to the last page with account number on it, so I’m still waiting to see what happens.

Frito Pendejo
Frito Pendejo

Yup, I had same issue once. Worked out fine in the end.

Ken
Ken

So you didn’t even get to the page with routing/account numbers? The confirmation page?

Justin
Justin

Hey Ken, how did this play out for you?

Ken
Ken

@Justin – I just waited till the new account either showed up in an existing login or they mailed me my account number. My newest account did not show up in any existing logins so I had to create a new login.

Justin
Justin

You created a new login using the debit card they sent you after you opened the account? Did they ever actually send an acct number or did you see that once you created the new login?

Ken
Ken

Scratch that, #5 is now showing up in my other logins too. Should’ve just waited.

Ken
Ken

They have always mailed a letter with the account number. They are likely swamped with new accounts lately though.

MoreSun
MoreSun

hey @Ken, so at #5 did you make it through the id verification questions and initial funding part, it was just the last page that failed out on you?

Ken
Ken

I did make it through the ID verification since they were all easy, known questions. But I did not make it to the last confirmation page with account number. The app was likely manually processed, hence the long wait time. They have got to be swamped.

MarcoPolo
MarcoPolo

@Chris
Nothing to worry.
This has happened to me as well on my DW’s application(s).
Within a week you’ll receive the account number & PIN in the mail and your new account will appear under your previous login.

dizzy
dizzy

I never got this info…eventually was requested to mail in some verification but I am out of the country for another 2 weeks so haven’t yet (this happened in Feb so I am dubious as to whether they already shut that new account down…my other 2 are fine tho)

Chris
Chris

Thanks @Ken and @MarcoPolo for the reassurance. I am a stickler for the general rule of not calling the bank, so I will definitely just wait for everything to show up in the mail.

Justin
Justin

Hey Chris, did you get the acct number in the mail or did it show up in your online banking?

Elliot
Elliot

Will – no credit card funding on this, I assume a typo.

LeRoy
LeRoy

I have set up 3 of these accounts in the past 3 weeks. No account numbers yet on the 2nd and 3rd, so have not yet set up the DD. I have gotten debit cards and welcome letters on all 3 accounts in snail mail – but no account numbers listed anywhere.

It does seem a bit odd that the bank is rolling out multiple offers so quickly. Makes them appear less than stable.

Mike
Mike

When you open your 2nd (or 3rd or 4th) M&T checking account, do you answer “yes” to the question “Do you currently have an M&T personal checking, savings or CD account” during the application? Or do you lie?

My instinct is to be honest (it seems like it could possibly be considered fraud otherwise), but it seems like answering honestly would clearly label yourself as ineligible for the additional bonuses…

Mike
Mike

Sorry I found a duplicate of this question in a comment on this post: https://www.doctorofcredit.com/mt-bank-200-checking-bonus-qi-available-online-ct-dc-de-md-nj-ny-pa-va-wv/

It’d still be good to get additional data points though 🙂

MarcoPolo
MarcoPolo

@Mike
I always answer “Yes” and input the previous account number.
Why give them a reason to deny you the bonus however unlikely that may be ?

EO
EO

I currently have 5 accounts and my wife has 7. On each new opening, I answer “yes” and provide an existing account number. As the number says suggest, it hasn’t not affected me from opening additional accounts.

M and T is nuts
M and T is nuts

Wow. I too also answer honestly. I use my oldest open account, but not brave enough to have 7 accounts going. I have 4 now, so hardly new to this though.

I really expect for this flood to get stopped any day, and I suspect there will be some backlash. Not sure if that will be attempted clawbacks, stern/threatening letters, or what – but there is no way all of these payouts will stay. They can’t possibly be making any money on the vast majority of the new accounts, and I just don’t know how they can be this stupid to allow it to go on. I have a feeling we will be seeing this one on the news real soon.

If they aren’t protecting their own money, makes you wonder how well they are protecting ours…. but most of us are only keeping a bare minimum of funds in the accounts, just to keep them free. And LOL to the guy ballsy enough to ACH transfer a penny every month to keep the account free – if I ran the sending or receiving bank I would find a reason to kick you out just for being a nuisance. They do reserve the right to shutdown your accounts for basically any reason.

EO
EO

I agree with everything you say here. I see no way how this can be sustainable. The amount of money this bank has given away to readers of this site alone must be staggering. That is most of the reason why I have been so aggressive in opening new accounts. I figure this is bound to be halted at some point, so why not get in while the going is still good. (I readily admit that it’s this kind of logic that gets deals like this eventually stopped, so sorry. But clearly I am not alone.)

This is also the main reason why I always tell the truth about having other accounts with them. What’s interesting is that when my wife opens accounts, they always go through the manual review process but are always ulti,ately approved. Which makes me think the bank has to be fully aware that she has 6 other accounts open. Maybe they like to report how many new accounts that have been opened to their shareholders? But there’s no way this can be profitable.

I will say that on one of my 12 accounts, I forgot to make a transaction and was hit with the monthly fee. Normally, I would call the bank and say whatever I needed to say to get the charge waived, but in this case, I’m happy to give them the $6.95 in exchange for the $2000+ they have given me. I might even do this wth one other account so they/I can maintain the illusion that I will be a profitable customer.

I do love the idea of this story making the news. But presumably M+T would have no interest in publicizing how much money they have given away.

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