Posted by William Charles on March 2, 2015
Bank Account Bonuses

Published on March 2nd, 2015 | by William Charles

31

[Expired] M&T Bank $150 Checking Bonus [CT, DC, DE, FL, MA, MD, NJ, NY, OR, PA, VA, WV]

Offer now expired, you can view more bank bonuses here.

Update: There is now a direct link for this offer, thanks to reader Heidi!

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: While it will let you open an account online anywhere, it won’t actually work unless you live in one of the following states: CT, DC, DE, FL, MA, MD, NJ, NY, OR, PA, VA, WV
  • Direct deposit required: Yes, must direct deposit $100+
  • Additional requirements: None
  • Hard/soft pull: Soft
  • Credit card funding: None
  • Monthly fees: $6.95, waive-able
  • Early account termination fee: $10, 180 days
  • Expiration date: March 31st, 2015 Extended to June 30th, 2015 September 30th, 2015

The Offer

Direct link to offer

  • Open a MyChoice checking account and receive a $150 cash bonus when you set up a qualifying direct deposit of $100 or more.

m & t bank bonus 150

The Fine Print

  • Valid until March 31st, 2015
  • 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.
  • Bonus will post to the account within 90 days of meeting the bonus requirements
  • Limited to one bonus per customer
  • Offer may vary by region
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Early Account Termination Fee

There is an early close out fee of $10 according to these terms & conditions if you cancel within 180 days of signing up.

MyChoice Checking

The easiest account to keep fee free is the basic MyChoice checking account. This account has a monthly fee of $6.95 that can be waived with any of the following methods:

  • Receive direct deposits totaling $200 or more per monthly service charge period
  • Make 10 or more monthly debit card purchases per monthly service charge period
  • Keep an average daily balance of $500 or more per monthly service charge period

M&T Bank is one of the few banks that doesn’t give you a grace period, these must be completed your first month otherwise you’ll be charged the fee.

Our Verdict

In the past M&T bank have offered similar $150 sign up bonuses and lower bonuses of $75-$100.

This is a quite a good deal, just make sure you confirm that your area is participating in this promo before completing it.  That way you can confirm you will actually get the $150 as promised.

Here is what I’d do if I was going to do this promotion (which I won’t be, because I don’t live in the target area)

  • Go into a branch and state I lost my promo page.
  • Confirm the bonus with a banker there, making sure to get all of their employee details in case something goes wrong
  • Open a MyChoice checking account
  • Transfer $500 in the form of a direct deposit (I’d just use my payroll to make sure it worked, but ACH transfers have worked in the past). This would trigger the direct deposit requirment and keep the account fee free.
  • Wait for the bonus to post
  • Wait 180 days to avoid early account termination fee
  • Close account

I’ve added this bonus to our dedicated page. It has not made it to our best checking sign up page because of the geographical restrictions.

Hat tip to reader Avi via slickdeals. He could win $225 by letting us know about this bonus

 



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Jason
Jason

Will previous customer be qualified for this offer? Closed M&t account on 2013 Fall. Anyone had previous experience about it? Thanks

Jay
Jay

Make sure you DON”T select the overdraft protection option when you get to T&C so that no hard pull is done.

Thanks for the heads up. Signed up for the account.

Danielle
Danielle

I received this as a targeted offer some time in November. I was able to meet the DD requirement with a USAA ACH push. Using Amazon Payments didn’t work.

jalo
jalo

was told by csr you have to receive coupon by mail to qualify

Duane
Duane

I opened an account using the link above and received the bonus the same day as my direct deposit. I used Discover Bank as my direct deposit.

Kristina
Kristina

If M&T notices that your deposit isn’t a qualified deposit (ex: electronic transfer from another bank/site and not payroll, etc…) it can be reversed. Also, the terms & conditions that are posted here are from like 1982. The fees are definitely different.

info
info

just a heads up. using a MA zipcode. I get

“Sorry!

This offer is not available in your region.”

so apparently MA is not one that qualifies.

Eric
Eric

I received the same message for my zip code in NJ. It looks like this offer is not available in too many places.

Ian
Ian

YMMV. Doesn’t work in MA, DE, and NJ with several zip codes I tried.

XP1
XP1

New date:
“Account must be opened by June 30, 2015”

Any more data points about the bonus posting immediately?

XP1
XP1

Bonus posted the same day as direct deposit posted. I only got $100, not $150. What’s up with that?

Anyone else?

XP1
XP1

Just checked the printouts after signup. Banker must have selected the wrong promotion. It only says $100.

When you sign up in branch, double check the first page of the printouts.

Sam
Sam

Discover counts. Bonus posted same day.

Diamond Vargas
Diamond Vargas

Received $150 bonus on the same day as a $500 ACH transfer in from a PNC account. I live in NYC but signed up online (through a VPN, from Colombia…)

jay
jay

This is the best bank bonus recently, at least for me. Got bonus same day as DD from cap one posted. Easy $750 here. 🙂

Eric
Eric

You mean $150, correct?

Eric
Eric

Jay,

Can you explain how to do this? I just signed up on the M&T website to have them email me a coupon and got the below message.

Sorry!
This offer is not available in your region.

jay
jay

Ah, yes. You need to live within close proximity of the M&T branch. Do you have one around you?

I have 5 in household. So 150 x 5 = $750

Eric
Eric

No, unfortunately there aren’t. I hoped to signup online but it’s not letting me when I enter my zip code. The odd thing is that my state is mentioned in Will’s title. Do you think if I put in a different zip code for the coupon that I’ll be able to signup?

Eric
Eric

I meant to write to Diamond Vargas in my last message.

Klair
Klair

My minimum direct deposit came through today. But when I signed up it told me on the AD I received in the mail to sign up for the EZCHOICE checking but when I just checked your link it said you won’t get the promo for $150. I’m confused. I followed what it told me to do.

Carlos
Carlos

Klair I don’t believe the EZ choice account was part of the promo.

Also guys check this out:

Qualifying direct deposits include but are not limited to: electronic deposits such as payroll or social security.

It says and I quote, ” Qualifying DD includes but are not limited to, which means that payroll or social security arent the only way to receive the bonus”.

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