Published on July 5th, 2016 | by Chuck403
M&T Bank $150 Checking Bonus – Available Online (QD) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
Reposting because the deal has been extended and it’s available in new states as well.
Offer at a glance
- Maximum bonus amount: $150
- Availability: Limited to the following states: AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV
- Direct deposit required: Yes, $100
- Additional requirements: None
- Hard/soft pull: Soft
- Credit card funding: None
- Monthly fees: Waive-able
- Early account termination fee: $50 180-days
- Expiration date:
March 31st, 2016 June 30th, 2016 September 30th, 2016 December 31st, 2016 February 28th, 2017 June 30, 2017 September 30th, 2017October 30th, 2017
Direct link to offer, when you e-mail the code it will show as QC when you open from that page it shows QD
- Open any personal checking account with M&T, and receive a $150 cash bonus when you set up a qualifying direct deposit of $100 or more.
The Fine Print
- Valid until
March 31st, 2016 June 30th, 2016February 28th, 2017
- Open account online or in branch
- Direct deposit must be received within 90 days of account opening
- 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
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
The bonus is available on any personal checking account, including: EZChoice Checking, MyChoice Checking, MyChoice Plus Checking, MyChoice Premium Checking, Classic Checking, Basic Banking. Let’s look at the easiest options for keeping fee free.
[Note that M&T Bank is one of the few banks that doesn’t give you a grace period, the requirements mentioned below must be completed your first month to keep it fee-free.]
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.
This account has a non-waivable $3 monthly fee.
Early Account Termination Fee
Quite a good deal if you in a participating area. In the past, M&T Bank has offered similar $150 sign up bonuses and sometimes lower bonuses of $75-$100. They’ve also required us to go in-branch, yet this time, they explicitly state it can be done online.
Here is how to go about doing this promotion:
- Open an EZChoice checking account and automate a $1 ACH transfer into the M&T account from my regular checking account, OR
- Open a MyChoice checking account and park $500 there for 6-months
- Do $100 direct deposit using payroll or try ACH transfer and hope that works as it has in the past
- Wait for the bonus to post, 90-days after direct deposit
- Wait 180 days from account opening date to avoid early account termination fee
- Close account (can be done over the phone or by mail)
We’ll add this bonus to our dedicated page and the state-specific part of our best checking sign up page. It’s also possible to churn this bonus according to this comment. Here are the other current bonuses:
- M&T Bank $150 Checking Bonus – Available Online (QC) [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]