Update 3/4/25:
- $500 bonus link /500bonus is back, promo code TO, valid till 3/31/25
- $400 bonus link /400bonus, promo code TJ, valid till 3/31/25
- $350 bonus link /premium-checking, valid till 05/31/25
Hat tip to ShawntheShawn
Update 1/8/25: There’s a new link for $500 bonus with promo code TU, valid through 2/28/25.
Update 12/15/24: $350 bonus back at this link through 1/31/25 (ht Shawn)
Offer at a glance
- Maximum bonus amount: $100/$150/$200/$250/$350
- Availability: CT, DC, DE, MD, NJ, NY, PA, VA, VT, 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:
- M&T Bank is offering $500 when you set up and receive qualifying direct deposits to your new MyChoice Plus, MyChoice Plus Checking with Interest or MyChoice Premium Checking account, totaling at least $1,000 within 90 days of account opening.
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 10/30/24: New code TV 11/30/24. Doesn’t seem to be any mailer restrictions this time. Hat tip to reader Massy Mass
- Update 9/10/24. Looks like you need to have received a mailer to be eligible.
$500 bonus is back with promo code UC. See also this comment for the various options. - 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.
- 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.
No referrals in comments.
so where do I put my referral William? The other refferal is closed for comments.
You don’t put it anywhere for now.
Just a suggestion – open the referral thread at least 2 times a year. Reason is, since most of us are churners, their accounts are closed and long gone and the referrals will be rejected in the back-end by refer live. Since the referral for biz is $150 it is substantial loss/gain based on how you look.
I think most people can find referrals elsewhere. The problem is a few ruin it for everybody but breaking the rules so we have to be strict on closing the threads.
I can’t seem to get approved for checking accounts online even though the info on my reports are correct and I can only do it in branch. After clicking the link it has schedule appointment but it doesn’t seem like it will show them the $500 bonus and the website has only the basic $200 bonus showing. Does anyone know how I could get them to approve the $500 bonus in person?
There’s some good advice from ShawntheShawn at #2022576 , and a successful DP at #2023037 .
The appointment site is a third-party PITA. I called a nearby branch and asked if I could come in and open an account. The person at the branch said sure. Then we agreed upon a time. Old-school, but it worked.
I used the appt site without a problem when I opened my account. What issues did you have?
Thanks. I opened the account yesterday. Managed to make it work online but I just realized there’s a referral offer as well. Do you think it’s too late to register on the referral site using someone’s link?
No harm in trying. Worst case, it doesn’t work.
Techant
I used your link for the referral. I will let you know if it ends up working. Thanks for your help.
There were successful DPs for this when the referral registration was before the bonus requirements were met. Assuming you satisfy other eligibility conditions (e.g., The Referred Person must be the primary owner of the new checking account, and may not be or have been a primary owner of any M&T personal or business checking account within the previous six months), it should work.
3/12 open online with $10 initial deposit from BOA
3/13 ACH push $25 from Sofi, get rejected and triggered a call from Sofi
3/14 Fidelity trail deposit works, then push $500 from Fidelity
3/17 receive debit card and activation
3/18 Fidelity notify me the transfer is rejected because account is locked, funds goes back to Fidelity. Initial $10 BOA funding also disappeared from M&T balance.
3/19 called and was told they cannot confirm me via docusign. Went into branch to verify identity
3/19 link and push again using Sofi $25
3/20 receive email saying bank to bank transfer is canceled and locked
In this case, am I still able to do a real DD? I worry real DD get also rejected.
Once you have all your issues ironed out, sure, do real DD. But a DD has no special power to get into a locked/frozen account.
Can this be opened with chex frozen for existing customers?
No.
02/20 – Opened MyChoice Plus Checking w/ Interest
Activated debit card sometime between these two dates.
03/10 – $502 push from Fidelity CMA
03/11 – $505 push from Fidelity CMA
03/12 – $500 bonus posted
03/14 – Sent SM to downgrade to EZChoice Checking
03/18 – Account downgraded
03/03 – opened Plus checking
03/04 – attempted from Cap one trial deposits, rejected
03/09 – got debit card, activated, could not access transfer between banks page online. Needed to call for an “override”. This temporarily worked but I didn’t link anything and then got locked out of that page again.
03/10 – attempted cap one trial deposits again, success
03/11 – pushed $1100 from Cap one
03/12 – $500 bonus
03/13 – converted account to no fee
Attempt to pull from Cap one, failing that will otherwise find an ATM
I did use a referral. Will see if that gift card comes in but I wont lose sleep if it doesnt.
The pig picture ATM card was worth the attempt alone
hi, may i ask when u mentioned trial deposits from C1, is it in the process of linking the bank accounts or after you linked them? I personally linked MnT to C1 without a trial deposit, but when I sent $ from C1 to MnT it just kept getting returned. thanks!
I did not use m&t linking. Directly in cap one I added external account and plugged in the mt routing and acct number to initiate trial deposits into mt.
I tried to open new account online for the 500 promotion, but an error message prevented completion. The error message was about a problem with the back end. I went to the local branch (NoVA) and as told that it was an expired promotion. I offered evidence of the website, but no further help was provided. I called corporate and was told the 500 promotion was good until March 28th. This is frustrating and more work than I expected. I’ll guess I’ll try another branch. Is there a way to get on a promotion list?
Today I went to another branch (NoVA) and found success. The banker repeated that the promo code (TO) was good only until March 28th. Make sure you say “T” and “Oh”, not T and zero. 😀
I opened the account online, received my account number, and set up my direct deposit. Then a week later they send me an e-mail asking me to docusign some document. I signed it immediately. A couple days later my direct deposit was returned due to it being a ‘locked account’.
I’m probably just going to close the account; if they needed some documents signed I feel they should ask for that before giving you the account number leading you to believe the account is ready to use.
Yes, M&T is known to pull this stunt with the DocuSign as a similar thing happened to me. Why close your account though? Call a rep and get it straightened out!
I received the docusign about 4 days after receiving my acc number info. I waited to receive my debit card before transferring money detailed from other peoples DPs.
This is from the Docusign request email:
This verification and hidden account lock/restriction drama is a known issue with M&T. It is very annoying, but it is what it is. It is your choice, but it may be worthwhile to contact M&T to resolve the issue (many of us did it) given the size of the bonus.
Thanks, I saw that in the e-mail but I didn’t receive that e-mail until a week after opening the account. So I’d already setup the direct deposit through my employer. Then when the direct deposit was returned, my employer deleted that account from my direct deposit list. I could ask them to add it again I guess but I don’t want to risk causing drama with my payroll department.
Although I’m seeing another comment saying a Capital One push triggered the DD for the bonus, so I could try that instead. Maybe there is still hope then.
Stay calm and use a “fake DD” in a couple weeks. It will be fine.
M&T pays out quickly so you will see results right away, making it one of the best bonuses out there, if you can put up with their quirks.
porcupine73
I’ve tried to apply each of the past two nights but keep getting the following message before starting the application: “Sorry for the inconvenience. Due to routine maintenance, we’re not able to process your request. Please check back later to submit your application.”
Anyone else?
I switched browsers and it worked for me. I used brave then switched to safari.
2/26/25 – Opened MyChoice Plus Checking w/ Interest using promo code TV
3/10/25 – SoFi Savings Push
3/11/25 – $400 bonus paid
seems like the $50 Early Account Termination Fee would be worth paying it if you were to close the account right after you got the bonus. that way you can start the clock earlier and do this again in 12 month’s instead of 18 months. anyone think is this the way to do it ?
It’s 12 months from last bonus, not from last closed. In fact, keeping your account open makes it easier to open your next churn.