Update 7/7/24: Another link for this offer, promo code UB. (ht RobertL)
Update 7/2/24: Offer is back, new promo code TJ and valid till 8/30.
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:
JulyAugust 15, 2018 September 5, 2018 October 31st, 2018November 26th, 2018 January 16th, 2019 February 25th, 2019 April 1st, 2019May 13th, 2019March 2, 2020 September 15, 2020January 11, 2021April 5, 2021 October 5, 2021 April 30, 2022May 27, 2022June 28, 2022February 24, 2023 August 25, 2023 - Household limit: None listed
Contents
The Offer
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 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.
- 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 6/1/20Looks 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.
A $24.95 service charge posted on my 2nd statement and did get waived as it’s been a couple of weeks. I thought that I read that people had the fee waived for either 2 or 3 statements. Have you all had a similar situation?
I’m wondering if I am better off waiting to inquire about the fee until I receive the bonus. Did any of you ask for and were granted a manual fee refund before your bonus posted?
The fee is only waived for the 1st statement: #1868377 .
I do not think it is going to matter whether you request the fee refund before or after receiving the bonus, so I would do it sooner than later. There have been several DPs of people receiving the bonus after manually getting the monthly fee waived (e.g., #1859282 ).
Thank you. I plan to request the refund before the 2nd fee hits. Hopefully by then, the bonus will have posted. That’s wishful thinking, probably.
Promo Code TJ is paying out quickly after people receive their DD. This has usually been the case with previous M&T bonuses.
Promo Code TE has only done one lump payout on on 06/12. It seems that everyone who received a payout on that date had their DD post before 06/01.
I used promo Code TE and my DD posted after 06/01. I still have not received the bonus payment. Has anyone one who use promo code TE received their bonus after 06/12?
I’m still waiting x2, and it sounds like
Eric is too. Did you also get the snail mail letter confirming that you were enrolled in the promo? Did you have any existing M&T accounts when you applied? I had a CC, P2 had the free checking still from previous churn, and Eric had a CC as well I believe…
Opened 07/05/2024
Capital One Push $1010 07/17/2024
Bonus Posted 07/18/2024
The rep said to wait until I get the debit card before I do any transfers.
I’m gonna swallow the
$50 ETF. There is a no-fee downgrade?Why can’t you submit an ACH pull request to CapOne? Is there any reason you want to transfer it out using the M&T transfer feature?
I have received the debit card and don’t plan to activate it. I plan to pull money back to Schwab.
Apart from linking issues initially, one of the quickest bonuses even beating Upgrade, and Citibank.
Opened: 7/6/24. Promo code used: TJ
DocuSign received and completed: 7/8
Schwab ACH push: 7/18
Bonus received: 7/19
Thanks for the update!
Schwab is not triggering the bonus. I opened my M&T account on 05/28. I did a $1,000 transfer from Schwab on 06/18. I should have gotten the $400 during most recent bonus payout but I did not. I will try Fidelity.
That’s a bummer. Since I prematurely tried to link Fido, and M&T returned those deposits, withdrawal, can’t link to Fido. Now they want a letter from the Bank that the account has no restriction to link.
Any idea if they payout very next day or once a month? Some of the below comments seem to indicate they got a bonus the very next day.
Some show getting the $400 shortly after their DD. Others are indicating the bonus is being paid out to everyone monthly (or longer).
My promo code was TE. The current promo code is TJ. It does seem that those who used TE had to wait a long time to receive the bonus.
P1 and P2 opened around same time as you with promo code TE, got the snail mail about the bonus, used real DDs…incredibly annoying that those who opened in July with the new code already got paid and we’re still waiting…
Thanks! My Schwab DD hit yesterday. The account was opened on 7/5/24 with TJ. I will report if the bonus hits today. I hope it does because after initial returned trial deposits/debits, unable to link to Fido after a few tries and uploading the PDF. Now Fido wants a custom letter indicating that the M&T account has no restrictions and can accept ACH credits/debits, which would be a burden if have to get that letter.
I just checked my ReferLive page and it shows that I earned my 1st Reward on 7.5.24. I am wondering if this is my own bonus for using your link or if it’s for someone using my referral link. Can you check your page to see if you also earned 1 on that same date?
Hey Eric, sorry for the late response I’ve been on vacation with limited reception. (Island). I just checked my referlive and I also received a $50 reward on 7.5.24 so it looks like it’s from my link!
I remember a while ago you told me that 1 of the ReferLive offers that you used sends the gc online. Was that M&T or someone else?
Wings Financial
7/12 Deposited
7/14 Bonus Hit
I’ve never had a bonus hit so fast. Do you think it’s safe to downgrade account now?
Can you elaborate on your DD source and account opened date?
2024-07-02 account opened
2024-07-11 discover push 7500 for fee free — just in case as I can’t link to Fido.
2024-07-15 real direct dep $1000, cleared
2024-07-16 400 Bonus posted
Will request for downgrade in a few days.
Had a lot of trouble linking on the Fido side, no success yet. No issue at all when linking from Discover, even not needing the trial deposit.
When do you think the next bonus pay out will be?
I immediately added an M&T account to Fidelity and Schwab after opening the account. No trial credit/debit was posted on the M&T account for 2 business days and now I got an email from Fidelity and Schwab that there were issues linking the account.
Did anyone have the same issue?
As mentioned in earlier comments, even though M&T issues an account number right away, you have to wait a few days for a DocuSign email and sign documents. You have to wait a few days more before you can do anything with the account. Some people had to call if they didn’t receive the DocuSign email; others called after doing DocuSign to make sure everything went through. According to cm’s comment below, a branch visit is now required for new accounts to verify identity, “[the banker] said M&T wants all new customers to come into the branch to open the account…”
Thanks, may I jump the gun? I received DocuSign on Sunday and completed it. I will wait for a day and then try again.
As per cm’s comment, you may still have to go to a branch for ID verification. I would call them to see if anything else needs to be done.
That’s a good idea to call M&T to ensure everything is okay.
Based on what the banker said, I am not sure if a branch visit for new customers is necessarily required, although it was in my case, but it’s definitely preferred. I also did the Docusign on Sunday (7/7) as well, and verified in branch on Tuesday, but it definitely seems I need to wait to receive and activate the debit card before I can set up and do transfers. Given the problems with linking Fidelity and M&T, I am going to try to do a wise deposit once I have received and activated the debit card.
I opened the account in person in a branch, and have the ATM activated. But I still cannot have the ACH trials go through M&T…. what’s wrong with this bank…
M&T has been a very difficult account opening process for me. They give very little account access to new customers, claiming they want to get to know their customers before allowing them to do much with the account. I opened the account online on 7/5, did the Docusign on 7/7, went into the branch on 7/9 to lift the hold/restrictions on my account (p2 was able to lift the restrictions over the phone, so they don’t require an in branch visit for all new customers, even if they prefer that!), activated my debit card on 7/14, enrolled in bill pay on 7/14 (which the phone rep said would allow me to do bank to bank transfers), and was told on 7/15 – after spending an hour at the bank again – that because my account is a new account, I am not able to do bank to bank transfers until ONE MONTH after account opening, which for my account is 8/5. Unreal. It takes a bit before this account can be used!
P2
7/5 – account opened
7/7 – did Docusign
7/9 – unable to link Fidelity CMA or Discover
7/14 – activated debit card & enrolled in bill pay to supposedly enable bank to bank transfers
7/14 – removed “hold/restriction” on account with phone call (banker said unable to do bank to bank transfers until 8/5)
7/15 – $1200 Wise push (a banker made phone call likely to inquire on Wise transfer, but didn’t answer call and banker didn’t leave a message).
7/16 – $400 Cash bonus posted
Will downgrade account after 8/5 and close account in Jan 2025.