Posted by William Charles on May 4, 2017
Bank Account Bonuses

Published on May 4th, 2017 | by William Charles

151

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

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

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

m&t bank

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:

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:



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

  1. James says:

    Just when I thought I was out…they pull me back in.

    I already did 7 bonuses in the past 2 months. Would it be too ballsy to open an 8th account?

  2. Justin says:

    I was worried there wouldn’t be a new one this week! Not that there even needs to be a new one to get another bonus..

  3. Borys100 says:

    when applying they ask if i have existing checking account with them and what is the number,Should i say that have and got the bonus on it or say i do not have exxisting account?

    • John says:

      I’ve opened 5 accts, answered YES (for accts 2 thru 5) and gave one of the acct numbers: does no harm, have received all 5 bonuses

      • Superchurn says:

        same here, although i generally give the account number of a different account type

      • borntobehermit says:

        Do you keep the same web login for all of them or do you create a different login for each account? I have only applied for one of them, and I wonder how to add the other accounts.
        Thank you!

        • Johnz says:

          borntobehermit – I use same M&T online banking login for all 5, it’s convenient to see all the accounts summarized on one screen and be able to set their deposit alerts and see statements, etc without re-logging on to each one.

        • MarcoPolo says:

          @borntobehermit
          Even if you create separate logins for each account they eventuality get grouped together. So it’s better to wait for the new account to show up under your previous login which might take a day or upto a week.

  4. usr22 says:

    Anyone know if this can be used in branch? Thanks in advance!

    • Why not do it online?

      • BHanna says:

        I had to do accounts 3-6 in branch because I get ”
        Notice

        Thank you for applying for an M&T Bank account. Due to the information you provided, we are unable to process your application through the online channel. For assistance, please contact us at 1-800-724-3222 or visit one of our local branches.”

        when I apply online… if there is a work around to this, I would love to know it… I tried incognito mode, but that didn’t help…

        • Gadget says:

          My S.O. is having the same problem… First few went fine, but now it errors out with this error. I usually spaced her apps about a week or so apart hopefully to avoid this kind of thing, but maybe I should have spread them out farther. Someone on one of the other DoC pages said the error will clear after about 2 weeks… but I am not so sure. That was the only person I have seen that offered a supposedly useful workaround, because incognito/IP changes didn’t do anything at all.

          In the meantime, I sent a SM to ask if they can give any insight as to why, because I really don’t feel like having her call, and in branch is not an option. Also, ordered her Chex, just to make sure something negative hasn’t been placed, besides the new inquiries.

          Multiple people are getting this error… if you search for “online channel” and M&T there are quite a few. 2 of the 3 times I got the error after the KBA’s, but once when I tried a few mins later, it went right to the error before the KBA’s.

          • Gadget says:

            Response to SM request for more information was to call for assistance. Per someone else in this thread, calling just gets you told you need to go in branch.

        • MoreSun says:

          I think the waiting 2 weeks was me. No idea why the error cleared at that point, or even if it had to do with the two week period, but I was able to go back to opening accounts (well, #4 opened & bonus posted, #5 was approved a few weeks ago but I have yet to see anything about it. We’ll see! Until that clears I won’t try opening this one.)

          • Aks says:

            I called 800 number. I was told by CS that there ability to help online rejected application is removed by M&T. CS also told me that there are only 2 attempt per 30 days to re-apply application.
            Please share any additional data point to go around this issue.

  5. Ben O. says:

    Oooooh yeah. That’s the good stuff!

  6. MarcoPolo says:

    I’ll wait for $200 offer since I don’t want to increase by account number count to be high enough to attract attention.
    “Fly under the radar” is my motto 🙂

    • taddy says:

      I’m doing the same. Plus I admit to being spoiled a bit now. Not willing to do make a bank account for less than a $200 bonus. 😛

  7. Mike t says:

    Their it system is garbage. This will be number 9. Keep it up mt bank. Hogs get fatter pigs stay tiny. That’s the phrase i live by.

  8. AL says:

    (QE)…where have I heard that before?

    I think M&T might be a super secret arm of the Federal Reserve…this is QE4.

    • Justin says:

      hahahaha good one

    • MoreSun says:

      Best QE yet!!

    • Ken says:

      Benefit this time is that ordinary folks are getting the cash instead of the big bankers and Wall Street. But if it really were QE4 the bonuses would be $10,000 each and we’d get a nearly unlimited amount of new accounts and bonuses.

      Just got my #6 bonus this morning. Choo choo.

      Ok QE4 is fitting 🙂

  9. Anonymous Reader says:

    I must have some black mark on my chex, I’m in California and only opened about 7 accounts elsewhere and I still can’t get approved. “We are sorry cannot approve application online blabhalh”. Anyone else have this problem?

    • Nick says:

      It’s ok I live in CA, seems like we are the only state this is restricted on bonus.

      • borntobehermit says:

        I am in CA as well, and this is my 8th account since February. I don’t know if Checking&Savings at the same bank count as 1 or 2 though. Anyway so far so good. I was approved. I am also resident alien and I gave them my A# number and everything seemed ok. I just applied, so they can easily change their mind. We’ll see.

  10. Yati says:

    for real?? we’re gonna put them outta business.

  11. EO says:

    Anyone have any sense how much M&T has paid out to people like us. I’m at 17 accounts (after this one) between my wife and I. My sense is there are plenty of others out there like me. How can they continue allowing this? Just curious if anyone has any thoughts on this subject.

    • Superchurn says:

      my concern is that they might start clawing back…they might be overlooking people like us for now, but the hammer might drop once the promotional phase is over?

      maybe its worth closing out the earlier accounts and eating the early termination fees rather than trying to ride out the whole 6 months?

      • BHanna says:

        How can they claw back if I only have 20 cents in each of my 6 accounts?? take my 20 cents… but that’s about all your getting from me

        • James says:

          They could always just say it was a banking error and bill you or overdraft your account for the bonus.

        • Jack says:

          They can still claw back even if you have no money in your account, as James said, they will just put your account in the negative and if you don’t bring the account positive again they will just charge the account off, slap it on your ChexSystems and credit reports, and it will be impossible for you to open any new bank account other than some worthless second chance checking for a few years.

          • BHanna says:

            How likely are they really to do this?

            Has it been done before by any bank to speak of?

            What about the 1099?

            I opened 4 out of the 6 accounts I have in a branch… I can just say I was confused by all the financial wording the banker said to me and claim ignorance?

        • NBG says:

          You opened 4 promo accounts of M&T in branch?. If that is the case, you at-least have a fighting chance (if it comes to that) because the branch opened knowing the fact you had other accounts.

          • BHanna says:

            Yea… nice lady there helped me with all my accounts… I brought her a pastry from panera every time …. (Pastry was free, just made a new rewards account with them every time on the app)

          • IThoughtIWasFrugal says:

            >I brought her a pastry from panera every time …. (Pastry was free, just made a new rewards account with them every time on the app)

            Bahahaha @BHanna, this is a whole new level of /r/churning

      • EO says:

        But I don’t understand how they could be overlooking this. They are either ridiculously incompetent (if they wanted to restrict this to one per person, they could easily disqualify me after I say I already have an account—which I always do) or they have some other ninja strategy. I’m sure their stockholders like to see they have opened a ton of new accounts, but not at the cost they are doing it.

        • Superchurn says:

          what if it’s a clever scheme to issue multiple $38.50 i’ve draft fees and generate revenue that way?

      • Jack says:

        If they claw back l will be concerned about M&T still sending a 1099 for the bonuses and having a difficult time getting them to issue a corrected one.

    • MoreSun says:

      Oh, I’ve thought about it for sure! Honestly I don’t think we amount to a drop in the bucket for them. They are a regional bank traded on the NYSE (yeah yeah, plenty of “traded on the NYSE” companies have gone broke, but this one is FDIC insured)… For whatever reason this set-up works for them so I’ll play along, for now anyway.

    • Avi says:

      Based on my account numbers, M&T’s been opening about 8,000 new accounts per week. I assume that’s not just checking accounts. No clue how to properly estimate this, but for example if 25% of them are checking accounts opened with a bonus averaging $200, that would be $400k/week, or $1.7 million per month. Pretty sure that’s a drop in the bucket for a company that’s worth $25 billion, with $5+ billion in revenue last year, and whose stock price is up 39% over the last year, but perhaps someone with more knowledge of the banking industry could chime in.

      • Bob says:

        That is not how account numbers work. There is no feasible way to estimate how many new accounts they’re opening until they release their reports to shareholders.

        • Avi says:

          Ah, ok, didn’t know that. So there’s different beginning numbers for different regions or something?

          • Bob says:

            Every bank is different and there is no standard, as opposed to routing numbers. But guaranteed it’s not numerical order. Like credit card numbers, the acct number itself holds many pieces of information, perhaps about the consumer, region, product type, online/branch, who knows what else they try to bake into it.

          • Avi says:

            I don’t think it’s like credit card numbers because each of my 5 account numbers has been a higher number than the previous one, but I didn’t consider different regions, account types, etc. Anyone here have an account that doesn’t start with 9872?

    • Harry says:

      here is my take:
      1) I think it helps their share price (this applies to every publicly traded bank) if they have more accounts opened when they report their results. Even a few dollars increase in share price would be sufficient to cover all of the bonus they give out. Such is the state of the stock market that when the tide is flowing in one direction even a small drop of news is enough to swell the tide many-fold.

      2) The IT is garbage as others have pointed out. If you try to bill pay you can see it as well. Worst website. Given website is so poor it is also likely they have few resources to actually go in and fix an issue like this and it will at the lowest priority to solve since it is good for their annual reports to show that xxxx accounts were opened this quarter…they might just be pushing off resolving this…just like it is good for us and we are not stopping, it is actually good for them (from the perspective of their shares that is) too and they cannot stop as well!

      3) A bank with such poor IT infrastructure and also with lot of competition from other big banks is likely not in a position to get REAL new customers. That leaves only the churners…the share holders are not going to know if the customers are really new or just churners or duplicates. Further for the bank this is a write-off or customer acquisition expense which will help to cover for their gains elsewhere so long as they are making gain.

      4) Having said all that it is still possible that they claw-back, but that would only be when their share price starts to fall a lot or when some big shareholder starts noticing that new accounts are not really new though that appears more tougher for them to figure out if their poor IT infrastructure cannot distinguish internally.

      • Eric says:

        I don’t think you understand how stocks work. If the stock’s share price goes up by a few dollars it would not “be sufficient to cover all of the bonus they give out.” One thing has nothing to do with the other.

        I don’t think the terms are clear enough to justify a clawback if you’ve done each promo only once. That is assuming that you didn’t lie on any of your applications. I’ve seen several people say they selected “no” when they were asked if they were an existing customer. I think that would constitute fraud which would certainly entitle them to a clawback.

        • Ken says:

          No mention of the bonus being connected to that question. All they could do is close your account or not open it in the first place.

          • Eric says:

            Are you saying that lying on a bank application is not fraud (a crime)? My point is if you commit a crime I’m sure they would have a way of clawing anything they gave you back.

            Of course I’m not a lawyer so I’m just guessing here.

          • Ken says:

            Using someone else’s SS# or identity is a crime. Saying you don’t have an existing account when you do on a proprietary bank form? You won’t be getting any knocks on your door from the FBI.

            And besides, that wouldn’t be grounds to claw back a bank bonus when you fulfilled the terms to receive the bonus. Show me in the terms of the bonus where it says you won’t receive the bonus if you say you don’t have an account when you really do.

          • Eric says:

            I never said it was likely that this would happen. I said it’s possible. I did a quick search on Bing and came across this.

            “”The federal statute does make it a crime to submit any false financial information to most banks and it does get used, from time to time, for these kinds of prosecutions,” said John Rao, an attorney for the National Consumer Law Center, a Boston-based group that focuses on consumer credit and bankruptcy issues.”

            http://www.creditcards.com/credit-card-news/legal-consequences-of-lying-on-credit-card-application-fraud-1282.php

          • Ken says:

            That doesn’t apply in this case. I’d consider “financial information” something like your gross annual salary or something of that nature. And that article refers to lying on a credit card application. Two completely different things.

        • Harry says:

          when the price of a stock goes up, the valuation of the company as a whole goes up. That is what all public companies aim to do – to increase their valuation. With a higher stock valuation a company has more purchasing power – in other words they can spend more. They can afford a larger MARKETING BUDGET which is where our bonuses come from.

          Clawback is just a possibility; not that they are even going to do it. – my point is that irrespective of what we do or do not do their clawback trigger is going to be when they start making losses or when they are pressurized in some way by their stock holders which is when they will start looking at what is making them lose money. The bonuses are going to continue so long as thier stock price is going up and everything is good there.

          • James says:

            All this armchair stock broker stuff is kinda silly

            I think the most plausible theory is that they just have incompetent IT, and they have multiple offer codes because they’re each meant to be targeted towards certain people. I doubt they’re playing seven dimensional chess to make it seem like they have tons of new opened accounts to their stock holders.

          • Johnz says:

            James,
            Their IT folks are probably competent and coded every test and condition check their management told them to code for those bonus promotions.

          • Dave says:

            A higher stock price does not necessarily mean a larger Marketing Budget or more money for the bank. Think about it.Where is the money coming from to make the budget budget bigger if the stock price goes up or down? Unless the bank is issuing more shares, which I doubt b/c that would lead to dilution. A higher stock price means that the bank is run very well so executives get large bonuses and the shareholders make a profit when they sell their shares, assuming they bought low. The bank makes money from issuing loans, fees, credit cards, investments etc.

            Also I have 7 accounts with them. This will be my 8th. I have gotten bonuses from 6 of them for a total of $1,150. I missed one b/c I used wrong code. I also have always said yes when asked if I have other accounts with them since I opened my first. It doesn’t affect the bonus.

  12. Michal says:

    Is everyone SMing them and downgrading to EZ choice checking? After like 5 its starting hard to keep track of the accounts.

    • Superchurn says:

      i am yes. although i only had to downgrade 1 premium accoubt. all the others i’ve opened were EZ

    • Ken says:

      There have only been two $250 promo codes for the Premium accounts. You only need to do the lowest EZChoice account for the non-$250 codes.

    • Bob says:

      If you’re not tracking everything with an extensive spreadsheet, you’re making a big mistake

  13. Paul says:

    Have any of you had a situation where you opened a few of these accounts and one of them did not post the bonus, even after you jumped through all the same hoops as the other accounts? This has happened to me. Have no idea why it has not posted.
    I hesitate to contact them.

    • andrew says:

      do not contact them. just open another account if you want the bonus

    • MarcoPolo says:

      @Paul
      It happened with me with a $250 bonus account. It was painful that not only the higher bonus amount was lost but I had go through the added hassle of downgrading the account to EZ Checking.
      I didn’t contact them about it (in my best interest) and moved on to next promotion which posted successfully.

  14. AZ says:

    SO couldn’t apply online, got the error message, tried to call and apply over the phone, CSR said it’s not possible to open an account over the phone, you will need to go to a branch.

  15. Ken says:

    Got another call from M&T this morning. I don’t pickup any calls normally and they didn’t leave a voicemail.

    • Gadget says:

      They called me as well today – just said 800 service on my (Cox cable) caller ID. Just a courtesy call asking about my new checking account: if I had everything setup ok for my checking account, debit card, online access, if I will be doing a recurring direct deposit, if I had any questions, etc.

    • Ken says:

      So they called again this morning. No VM as usual. Could be just catching up with new accounts.

  16. DDG says:

    I think fee is already $6.95

  17. Robert says:

    Do we know yet if we can use expired M&T codes (QM, QF, QK for example) and the bonus still pay out? I’ve only used valid codes one time up until this point, and only one bonus per code, but I’m looking to possibly expand. Looking for multiple DPs here…

    • Robert says:

      Also tried to open this account today. It would be my 6th M&T account, outside one that I opened and closed last year. This is the message I received:

      “Thank you for applying for an M&T Bank account. Due to the information you provided, we are unable to process your application through the online channel. For assistance, please contact us at 1-800-724-3222 or visit one of our local branches.”

      🙁

      Will try again in two weeks.

      • Dave says:

        @Robert

        I think you just answered a security question wrong. I successfully opened my 8th account today. If all goes well I should make $1,300 from MT in total this year so far.

        • James says:

          Did you skip tge premium bonuses or something. This will be my 8th bonus as well and I’ll be at $1500

          • Dave says:

            I used the wrong code for one of the accounts. And yes, I didn’t do one premium account bonus.

    • MarcoPolo says:

      @Robert
      I would advise against doing so.
      Even with multiple accounts we are pushing our luck and it might spook their fraud department if someone does try to use expired codes.
      A lose lose situation for all of us.
      Please don’t kill the Golden Goose.

      • Robert says:

        You make a good point. Looks like I am temporary out of business anyways, considering my most recent attempt. I have to find something to do to occupy my time, now that the goose is resting 😉

    • Boaz says:

      Anyone know if using recently expired codes will work and trigger the bonus?

  18. Sal says:

    I find all of this curious…notice that this most recent promotion notice (the latest $150 offer) is only open for about 3 weeks.
    Why do they put out these continuous offers? why not offer $300, one code and just leave it open for 3-4 months? The way they are doing it is **encourages the multiple accounts** Are there any other banks you can think of that come out with continuous, parallel offers like this?

  19. MarcoPolo says:

    @Sal
    I believe that different codes are for different market segments but their system is not geared up to stop people from applying from every market segment all over US.

  20. michelle says:

    do you guys make new sign ins per account? or how long does it take for a new EZ checking account take to show up on an existing?

    • Johnz says:

      michelle – I use same M&T online banking login for all 5, it’s convenient to see all the accounts on one screen. My newest EZ showed up within 24 hours (May 5) on the existing acct list; sometimes it took 2 days.

    • eclipsor says:

      in my experience they’ve been showing up every sunday. so up to a week.

      • hardtacokit says:

        I’ve been calling every time I open up a new one so that I can “Link” the new account to my profile. The IT people can do it while on the phone and they don’t seem to care that I now have 4 accounts.

    • MoreSun says:

      Took about a week for each of mine to show in my existing login.

  21. ray says:

    Couldn’t open the first account online. Had to go into a branch to get it opened. I’m ready to apply with the other promo codes online, which will hopefully go through as I’m an existing customer now. Question is, should I apply with the different codes all at once, or should I space out the applications by a day or more?

    • JuicyJosh says:

      I would def space it out. I guess the interval is up to you but looks like you’re off to a bad start already having to visit the branch. Just applied for my second account today. Will now have a Ravens and Bills debit card that I will never use. Wonder if I should petition them for a Jaguars card. I may actually use that one… on Amazon for $0.50.

  22. Adrian says:

    I guess I’m one of the unlucky ones because I’m blocked at 2 accounts. I’ve tried QE and QC after opening QD/QI back to back about 3 weeks ago. Keep getting message that the account can’t be opened online and to call. I don’t want to call as to not bring any attention to the bonus sign ups, but maybe they’re not allowing new accounts due to suspicious activity? What do you guys think?

    Including the 2 M&T accounts, I’ve opened 7-8 checking accounts in the last 3-4 months. Never had an issue with ChexSystems but just ordered my report to see what’s on there.

    • Fred says:

      Don’t know why you had trouble, but like you, I have two accounts with M&T opened last month and at least the same number of other accounts opened in the last 3 months as you and I just opened my third M&T account without any problems.

      In fact, this one was the simplest of all of them, immediately got approval, got the account number and the account already shows in my online account waiting for my initial deposit and direct deposit. Hopefully the bonus will be easy also.

  23. Jack says:

    Got a copy of my ChexSystems report in the mail today, and as some others have rpeorted, M&T does two Chex inquiries, one for the account opening, and one for the initial deposit (this inquiry has the routing number and last four digits of the funding account). I am wondering if mailing your opening deposit instead of giving them your account and routing number of your other bank would prevent this second inquiry.

    • james says:

      You don’t really need to do the initial deposit. I only did it for my first account, and my other 7 I said I would do a check but never sent them. Haven’t had any problems.

  24. James says:

    Just got my 8th bonus today. I think I’m going to lay low for a while, especially with more and more people getting blocked from making new accounts.

    Final haul is $1500

    • Aks says:

      Will appreciate if you can share your application interval time between each of 8 applications.

      • James says:

        I would make a new account right after the previous bonus posted. Usually about a week. First 3 had instant account numbers, last 5 auto popped up in my login a day or two after the application.

        I think the reason some people are having problems is because apparently M&T does a second chex inquiry if you fund account(on the application) with an external bank. I only did that on my first and my other 7 I selected the check option but never sent a check. Haven’t any problems.

  25. MoreSun says:

    Also got the “…Unable to process your application through the online channel” message. C’est la vie. (I have 4 accounts, my 5th was approved 3 weeks ago but never got opened. Live in CA.) I did just downgrade one of my accounts so I think I’ll try again in a couple weeks after that has cleared their system & see if it makes any difference.

  26. Jags says:

    In case anyone was following my story in the older M&T post I wanted to give another update.

    Wife went today to deal with her account issues. She was not as lucky as me. They refuse to give online access but they didn’t “end the relationship”. So basically we have 6 open accounts and we are unable to close them unless we pay $50 each.

    • NBG says:

      Thanks for the update. Hope u can avoid monthly fees and close her accounts after 6 months.

    • MarcoPolo says:

      @Jags
      That sucks.
      How are you planning to deal with it since you don’t have online access now?

      • Jags says:

        We have 4 EZ Choice accounts and 1 Mychoice Premium accounts.

        I will push $0.01 into each of the EZ Choice accounts every month.

        Will have wife call M&T to try and downgrade the Mychoice account otherwise we will close and pay the $50 fee for that one. I’m not putting $7500 in the bank and then have them decide to claw back.

        • j says:

          No need to call M&T to downgrade the premium account. Just send a secure msg. I’ve done it a couple times already.

          • MoreSun says:

            Jags & Wife had online access revoked. It was their first sign that something was very wrong with their accounts.

  27. JuicyJosh says:

    Confirming DP I saw on one for the previous M&T threads. I opened my second account on a Sunday and wife opened her second on Wednesday. Both accounts appeared on original account login on the following Sunday. Upon opening #2 I was given account number during opening process. Wifes account number slot was blank and still dont have. Sent a secure message saying “Thank you M&T” and retrieved account number from sent mail. Who ever found that is a genius. Both accounts now linked via external transfer account and expect both bonuses by Friday this week.

    • Matt K. says:

      Noticed recently as well that the app has the ability to click “acct info” and then to see full number. As long as the acct shows in the login, just go into the app and check the acct number. Better than M&T getting a bunch of random messages and getting more eyes on an account.

      • Ken says:

        You don’t need to send a message. You can do a $1 transfer from one account to another and the full account number will show up in the source account transaction history.

  28. Melissa says:

    What are people finding is the least hassle method for keeping the accounts fee free?
    Are you all setting up a monthly auto transfer to transfer some dollars from another account into your M&T account? for multiple M&T accounts, are you using different sending banks? thanks

    • Ken says:

      Just setup monthly transfers from one M&T account to another M&T account and you’re good to go.

    • M. Smith says:

      Personally, I push $5 per month from Alliant CU into each of my M&T accounts. Then at the end of the 6-7 months, pull it all out. I know some people do transfers from one M&T account to another or even a penny a month, but that seems so far beyond the spirit of the account terms. Yes, we are all taking advantage of a loophole (or poor programming), but its not going to hurt you to at least pretend to put some activity on the account that looks a bit real.

      • travelmom says:

        “beyond the spirit of the account terms”?

        I’ll be transferring from one m&t account to another.

      • Ken says:

        If M&T didn’t want internal transfers to count they would have said so in the terms. If they are Ok with it than so am I.

  29. Nick says:

    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.

    • Ken says:

      They don’t show. As long as you entered them where required you’re good to go.

    • Kyle says:

      It is never referenced again, until the bonus posts. Thats why I double check the code to be absolutely certain.

      • Nick says:

        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

  30. MM says:

    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!

  31. Jeff G says:

    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.

    • MoreSun says:

      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.

    • MarcoPolo says:

      @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.

  32. Matt says:

    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.

    • Ken says:

      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.

    • EO says:

      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.

      • Matt says:

        Thanks! Definitely the answer i was hoping for.

      • MarcoPolo says:

        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.

    • James says:

      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

  33. JuicyJosh says:

    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?

  34. MarcoPolo says:

    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/

  35. TG says:

    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.

  36. Darv says:

    Has QE been extended?

  37. Mike says:

    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.

    • Ken says:

      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.

    • MarcoPolo says:

      @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

      • MM says:

        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).

        • HardTacoKit says:

          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.

          • MM says:

            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.

          • Eric says:

            Just so you know in case the $250 codes come back, it was no hassle at all to downgrade the account via SM.

          • MM says:

            Thanks for the info, Eric. I’ll definitely keep it mind if/when some new $250s roll out:)

  38. kevin says:

    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

  39. Stephen says:

    Has anyone had luck gaining the bonus outside of the targeted states? I want to get a piece of this action.

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