Posted by William Charles on November 8, 2017
Bank Account Bonuses

Published on November 8th, 2017 | by William Charles

336

[Expired] [YMMV] M&T Bank $200 Checking Bonus (QI) – Available Online [CT, DC, DE, MD, NJ, NY, PA, VA, WV]

This bonus has expired, click here to view the best current checking bonuses.

Bonus is back and valid until December 8th, 2017. Please keep in mind that M&T are a lot more strict than they once were and it’s likely you won’t get the bonus if you’ve received one before or didn’t received the targeted mail out. Read our recent M&T for more data points. Hat tip to reader Randy C.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability:  CT, DC, DE, MD, NJ, NY, PA, VA, WV
  • Direct deposit required: Yes, $100
  • Additional requirements: Use promo code QI
  • Hard/soft pull: Soft
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: Avoidable
  • Early account termination fee: $50 180-days
  • Expiration date: May 24th, 2017 December 8th, 2017
  • Household limit: None listed

The Offer

No direct link to offer (go to mtb.com/checking and enter promo code QI, but read our verdict first)

  • Open a new M&T personal checking account by December 8th 2017 with the promotional code QI and receive a sign up bonus of $200 when you do the following:
    • Set up a qualifying direct deposit of $100 or more within 90 days of account opening
  • You can find your account number by sending a secured message (via Robert), just look in the outbox and it’ll show.

 

 

The Fine Print

  • 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

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  M&T Bank will waive the first month’s monthly fee. M&T will charge your account service fee every month even if you meet the requirements; the fee is refunded the same day if requirements are met. So you always want to keep enough in your account to cover the monthly fee.]

EZChoice Checking

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.

MyChoice Checking

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
  • Make 10 or more monthly debit card purchases
  • Keep an average daily balance of $500 (might be $1,500 depending on your area) or more 

Basic Banking

This account has a non-waivable $3 monthly fee.

Early Account Termination Fee

Update: Looks to be $50 now.

Our Verdict

Not the case anymore, read the warning at the top.

If you’ve been following along with M&T bonuses (and you should have been) then you’ll know that these are churnable (I think you only need to use a different promo code). This is technically targeted, but in the past this hasn’t been enforced at all. In fact the state requirement isn’t enforced either. M&T has been ridiculous money recently for a lot of people, so enjoy this one as well. Definitely going on our best checking bonus list. They currently have these other offers:

Big thanks to reader, Michael who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

 



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Phineas
Phineas

Hey DoC, thanks for the amazing site. I believe that the expiration date on the top of this page should be updated to 5/24/17. Keep the M&T bonuses coming! I’ve done 3 so far…

Justin
Justin

M&T what are you doing to me hahaha. Thanks Doc

andrew
andrew

lol, M&T has made me over $1,000 over the past 12 months

howard
howard

Lol how many accounts did you have?

andrew
andrew

i did $150 and $200 bonuses last year, closed them both after 6 months, and this year have done the $150, $200, $200, and $250. Now looking to get another $200 😀

howard
howard

Wow that’s admirable. So you were having 4 accounts open at the same time at some point?

Justin
Justin

same. about to be $1,200

Jake
Jake

Poor M&T

Danielle
Danielle

Does anyone have any tips on how to fix it if I entered the promo code incorrectly and wasn’t targeted? They refused over the phone because they could tell I wasn’t targeted.

andrew
andrew

Just try to open another account IMO

MarcoPolo
MarcoPolo

As andrew said you can’t fix it and just open another account after waiting for few days.

Also, remember the first rule of deals — Never call 🙂

Danielle
Danielle

Guess I’m eating the $50 to close

Justin
Justin

No need to close. Just keep it open. M&T doesnt seem to care how many accounts you have open.

Leo
Leo

Any rules about eligibility for past bonus recepients?

Josh
Josh

No rules. Just make sure to use different promo codes and you’ll get the bonus.

RB
RB

Looks like they have at least 4 branches in FL. Isn’t FL counted for this bonus?

Josh
Josh

Put it in a NY zip code at the beginning and then put in your normal address and the application will go through. I’m from OH and have received the bonus 5 times.

RB
RB

Great Idea. Thanks for sharing!

Rye
Rye

it works, I’m north of you!

Scott
Scott

“[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 is not true, at least for the EZChoice checking. The first month’s service charge is refunded with the description “ONE MONTH WAIVE”.

Something worth noting: M&T will charge your account service fee every month even if you meet the requirements; the fee is refunded the same day if requirements are met. So you always want to keep enough in your account to cover the monthly fee.

MarcoPolo
MarcoPolo

@Scott
Thanks for the tips and DP.
@DoC
These tips and DP should be included in the Original Post.

MarcoPolo
MarcoPolo

Thank DoC and Michael for the gift which keeps on giving.

Brandon
Brandon

anyone worried about M&T clawing back these bonuses for those not meeting state requirements?

MarcoPolo
MarcoPolo

@Brandon
Claw back from where?

James
James

They could just overdraft your account.

James
James

This is one of my fears as well. I’m not going to spend any of my bonus money until all my M&T accounts are closed in 6 months, so I can pay back quickly if they attempt to claw back or bill me for it.

Jags4186
Jags4186

It makes you wonder why it’s so hard for HSBC to pay their bonus…

JASON
JASON

hahaha!!!

Superchurn
Superchurn

yeah…im still waiting for my HSBC bonus too 🙁

El Guapo
El Guapo

HSBC has nothing on Citi. Took me 9 months and a CFPB complaint to get my bonus after tying up 15k in one of their accounts. That included them closing the account by mistake at one point.

Superchurn
Superchurn

wow….i guess it’s very YMMV in general. the Citi 400 bonus went smoothly for me and wife.

some ar easy, some u actually have to work for i guess.

i just hope the CFPB doesn’t go away under Trump

Cicero
Cicero

When churning this account, there is an application question that says “* Do you currently have an M&T personal checking, savings or CD account?”

Are you all saying yes or no here?

Josh
Josh

Yes. It hasn’t negated me from receiving the bonuses.

yussuf
yussuf

Ive done both. I dont think it matters.

Jags4186
Jags4186

Never lie. I always say yes. I’d rather be told no then be caught and having them try to claw back.

Andy
Andy

Once I enter the QI code, is there anywhere to confirm the code went through for the $200 bonus? Finished application and still didn’t see the $200 bonus language. Maybe I simply missed it?

Josh
Josh

If you entered the code, you will receive the bonus. It doesn’t have any confirmation.

Jimmy
Jimmy

Anyone run into “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.”

I wonder what is happening that is triggering this. There are branches in my area. I did churn this bonus 5-6 times a few years ago.

MarcoPolo
MarcoPolo

@Jimmy
Check your CHEXsystems report.
Maybe there is a negative mark there.

Gina
Gina

My dad got this yesterday when trying to open an account. He clicked the link above and changed the showing info for Albany NY (the default I think?) to his current location (FL). He applied but didn’t even make it to the identity questions and received a message like this. He then opened the link incognito and left the Albany NY default and applied 30 minutes later and had no issues. I don’t know if that helps or not but that’s what happened to him. He’s never had any account with them.

Strema
Strema

I got this, too. It may be because I recently changed my address and it didn’t match my current accounts, so I’ll try again later. My husband was able to sign up under our old address and has the same number of accounts as me. Go figure.

Wong
Wong

Same issue, I left the default zip code. My address is in CA, so maybe I’m being explicitly denied. Tried Chrome/Firefox incognito also. No go

Dan
Dan

I submitted the application with the code above and opened a checking account; there doesn’t seem to be any confirmation of the promo code working — how can I know that it did? Would you advise against calling in after the fact? Help much appreciated!

Matt
Matt

Relax….if you input the code your fine it doesn’t give a confirmation page that confirms the code

Coldagglutannin
Coldagglutannin

Has anyone gotten a phone call from m&t? Just did and they asked if I activated debit, set up DD with my employer and had any questions how to use the website. I said that I was starting a new job and had yet to set up DD. Realized this was probably not the right answer since I already triggered the bonus. Any chance they claw back (I guess I could just move those funds asap).

Kyle
Kyle

They’ve called me for each account I opened, and it was always a courtesy call just to check on how things are with the new account. I wouldn’t worry about it. Actually was pretty surprising how much they cared about their new customers.

dizzy
dizzy

M&T= Money and thanks! I never even heard of this bank before these bonuses. Apparently they have a branch in “my” town (ie, my parents’ town where my address is). I feel like I missed one of these though as I’m only $550 in on the game ($750 after this one).

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