Unfortunately seems to be expired now. List of the best checking bonuses can be found by clicking here.
Bonus seems to have been extended: datapoint 1 & datapoint two
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 QL
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: None
- Monthly fees: Avoidable
- Early account termination fee: $50 180-days
- Expiration date:
March 25th, 2017May 24th, 2017 - Household limit: None listed
Contents
The Offer
No direct link to offer (go to mtb.com/checking and enter promo code QL, but read our verdict first)
- Open a new M&T personal checking account by
March 25th, 2017May 24th, 2017 with the promotional code QL 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 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.]
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
This is the same bonus as this from M&T Bank, the only difference is the promo code. This is technically a targeted offer but in the past this has not been enforced at all. M&T Bank bonuses are churnable and there is quite a few currently available:
- M&T Bank $150 Checking Bonus – Available Online (QC) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
- M&T Bank $150 Checking Bonus – Available Online (QD) [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]
We will be adding this bonus to our best of list if/when somebody confirms they successfully got this bonus without being targeted. Update: Confirmed.
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:
- A Beginners Guide To Bank Account Bonuses
- 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
Does transferring money from M&T to another bank via ACH count as account activity to avoid the monthly fee?
It has for me. I pull from M&T using Ally on a recurring monthly basis. Set it and forget it until it comes time to close!
I opened #5 last week. Instead if the usual, “we need to verify your info” it showed the new account # at the end of the app. Also from that last page when it lists the new acct # I scrolled to the bottom and clicked the link for current acct holders sign onto my log in. The new account was listed there with the other 4.
This was around 11pm EDT so not even during business hours.
So after hearing about how easy dd pushes are with Ally, I opened an Ally account. Then made the dumb mistake to immediately enter my new M&T acct info so I can push from Ally. I should have waited a day or 2 instead of doing it all within an hour of opening both.
Ally’s trial deposits occur so quickly that my new acct was not even recognized in M&T’s system yet and denied the trial deposits. I called Ally to ask them to resend them and that I probably should have waited a bit before creating a link but it’s too late. For fear of fraud they will not attempt until I fax them something on M&T letterhead saying I am the owner of the account. So hopefully M&T sends their usual new account letter with account info. Just to prove them wrong at this point. I’ve already moved on with a push from CO360.
Ouch!
I was just coming here to post to you Patti! I did the wait 30 days before attempting to open again (actually I waited a few days over that) and I opened my account just fine. I got the account numbers on opening as well, account showed up online immediately, I then linked to Ally and the trial deposits were there the next morning. I did this all during EST business hours though, maybe that’s what got you? But I’ll definitely wait next time! Now, I won’t be getting a bonus after all this effort- my stupid mistake- I read entering no code was a bonus even in the past and since I did the current active codes already I decided to give that a whirl. It didn’t work, this would have been obvious if I had remembered the couple of people who never got bonuses on accounts because we suspected they failed to input the code… but I didn’t remember that until AFTER I opened the account!
I’m impatiently awaiting the next code now 🙂
I’m kicking myself now for waiting so long in between. I missed out on a $150 and a $200. With hubby accounts that’s $700. grrrr….
I’m always afraid to push my luck. I just opened 2 more last week (1 for each of us) and think I’ll squeeze 2 more in next week. It might be a while until any new one are released. I wonder if they’re figuring out what’s really going on?
Currently 5 M&T checking accounts in. Got 3 of 5 bonuses so far. During the online sign up process, I always select that I don’t currently have an account with them, then I call them up to join the newly opened accounts to my current online banking login. I wanted to ask if anyone knows if selecting that you have a current account will still qualify you for the bonus. thanks
Yes it does
thanks Tony!
Yes, it still works. The new account will show up in your online log in within a day or 2. Some reports of it taking a bit longer were posted but seems eventually, it does.
Any DPs of this code getting extended again (beyond the May 24th expiration)?
+1 I would like to know the answer as well.
I’d like to know too.
I guess it’s time for me to be the DP I want to see. I just applied for a new account using the QL code. The app was approved, but for the first time, I didn’t get the account number on the confirmation page … only the routing number. I’ll report back once the “direct deposit” posts.
2 thumbs up for bravery and courage.
I’ve noticed this happens on the ones opened on weekends. Looking forward to see if it posts. I’d like to get this one, too. I missed QL and QE
Any update on it yet?
Not yet. My DD is pending and should post tomorrow morning — hopefully with the $200 bonus. I’ll keep y’all posted.
The direct deposit posted, but NO BONUS. It looks like it’s actually expired.
Honestly, I’m surprised. I have such low expectations for M&T’s competence that I was fully expecting the bonus to show up when I logged in this morning. Oh well…
I appreciate the info. Don’t give up yet. Perhaps it’ll post on Monday. If so, please keep us posted. Thanks! Enjoy the weekend.
Still no bonus on Monday 🙁
Wow, I’m surprised that M&T seems to be enforcing their terms for a change. But that should be a lesson for all of us to not reuse codes and/or use expired codes and waste a Chex inquiry.
Thanks for the followup.
Thanks for being the DP we want to see.
Thanks for the site. The data collection you’ve put together has provided more value than I could possibly repay.
:), every reader contributing helps!
I’ve the same exact low expectations. But the Monday thing has happened with me; I just assumed at the time that if transaction posts after a certain time frame the bonus is not triggered. All but one of my bonuses have posted on Saturday with the transaction and all but one of my account numbers were generated right after the application. So may be there is light at the end of the tunnel or may be I am wishful thinking. Keep us posted.
Anyone seen this before? I am not in the state that is targeted.
Notice
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 just opened an M&T account from Texas (second in two weeks) with no issue about 30 minutes ago. Do you have a lot of recent Chex hits?
GOT THIS TOO!
So annoying. Any fix?
@Jeff G – Are you a US citizen?
Yes, US citizen.
No, not that many Chex hits.
One possible reason: That error from M&T and similar kind of error in other banks online application comes if your SSN was issued recently (or a fairly new SSN – <5 year?).
No, same SSN, no changes or new.
Looks like I will give it two weeks.
Many of us have. I tried a couple weeks later, same message. I’m gonna give it a month this time.
I wait a month too. I can’t let greed take over my rational half. We have a good thing going here and I don”t want to blow it.
thanks! much appreciated
any dps on if transfers between m&t accounts count as a fee waiving transaction? couldn’t find any…
Yes they do. All of my accounts so far have had the service fee waived woth just transfers.
Interesting developments today:
I have opened 4 M&T accounts over the past 6 weeks: all EZ Choice, using different promo codes. The last account I opened was 5/15. I have already received bonuses on my first two accounts.
About a week ago, I initiated an ACH pull with Chase to withdraw from these two M&T accounts, even leaving $25.00 in each of them. They seemed to clear on Chase without any issues, but the amount was never removed from M&T.
Today, I got 2 secure messages from Chase saying: “We tried to transfer $300.00 to your external account by 05/15/2017, but the other bank wouldn’t accept it because it informed us the account is frozen.” The Chase balance no longer included the transfers. (NOTE: I was confused by the language “TO your external account”, but these were definitely pulls from M&T to Chase.)
Logging onto M&T, everything looked normal – and no transfer activity at all. But I was worried about this “frozen account” message from Chase. So I tested my accounts by setting up a transfer between M&T accounts. As feared, it was rejected, and I got a message telling me to call their customer service number.
I don’t know of any unusual activity that could have caused red flags (I don’t even have that many accounts compared to other users here). Of my 4 accounts, I have only gotten 2 bonuses; the other 2 have just been funded so far. Comparing this to the info provided by Jags, I don’t have Mint or anything similar accessing my accounts, and my online account is not frozen – I can see my statements.
I HOPE it’s just because I have a brand new account and the freeze will go away on its own. I desperately don’t want to call their customer service line, especially considering I may end up being transferred to the “Enterprise Security Team”.
Any other ideas from the folks on DoC? Did I do something wrong? Looking back, the only other thing I can interpret as a problem is that I set up my ACH pulls from the same account I had the deposits from. I didn’t consider it before now.
Obviously, I’m going to wait it out for now and report back, but any advice will be much appreciated.
See if you can withdraw money at an ATM. Also try few bucks of Amazon reloads using the Debit Card or a real Gas station/grocery use of the debit card.
A few of us were having trouble linking M&T accounts a few days ago, and they were being returned as account doesn’t exist or similar. Tried again and both accounts linked fine. Also Mint couldn’t find the accounts either. Seemed to be some glitch on M&T’s end that lasted for a few days.
Update:
Couldn’t log on to Chase this morning. Got the message “account suspended, please call…”. I called them and entered my debit card number, and was given the automated message, “this card is closed”. Great. Continued on, and was transferred a few times to different people. Finally got “we’re ending our relationship with you”. When I said that I didn’t understand the cause, I was told that no more information was available and a check for the remaining funds will be mailed within 7-10 business days.
Other info she gave me:
– My credit card accounts will remain open *sigh of relief*
– No date given for possibility of opening a new checking account, just that when I attempt to open an account, I will be looked over by a review team.
While I would have preferred to keep Chase open, it’s not the end of the world. Hopefully no negative Chex impact. I’ll get my Chex report AFTER everything is resolved with M&T.
No updates directly from M&T yet, but it’s only been a few hours. I haven’t tried NBG’s suggestions, but now I’m a little concerned about using the cards with any other accounts, even Amazon. As far as the ATM withdrawal and debit card transactions, I don’t have much hope, but I may try them soon. At this point, not knowing exactly what went wrong, and watching my other (legit) checking accounts close, the bank bonus game isn’t quite as fun anymore.
I’ll post updates as more info becomes available.
so strange. have you been depositing MO’s or anything in Chase? I wonder if this is literally just because of adding new transfer accounts and transferring
No money orders, no MS activity. Totally clean account except for the new transfer accounts. I set up several (maybe 5), including my legit accounts, and then the first transfers I attempted didn’t go through. So that may be the reason.
Small update: Chase credit cards still open, but I can’t login to my online account. I’ve been putting off calling them because I’m scared they’ll close them too, but I’ll have to call soon.
Hey guys!
So this is my first bank bonus attempt. I live in ND so things seem to be moving very slow. I went ahead and set up everything but it seems to be moving very slowly. I deposited the initial $25…and verification took nearly 5 days. Now I have a pending $100 transfer from my WF Savings account. How long until i should see the bonus pending? The WF transfer has been 3 days and its still pending :/
Wow, I don’t know why it’s moving that slowly. Then again I only did WF to get their bonus so I don’t know how efficient they are at pushing $ to other accounts. If I did transfer with them, it didn’t stick out in my mind that they were crazy slow like this.
Once I see a deposit pending, it usually posts the next business day along with the bonus too. The last account I got the bonus with, I scheduled the transfer from Cap One 360 on a Thurs, was pending on a Friday after work, then posted along with the bonus by Saturday morning. I was very surprised to see any changes occur between Friday evening and Sat. am.
A friend of mine (who is in one of the listed states) received his 3rd bonus before i got my first even though we started around the same time. Its just incredibly slow. I mean if i get my $200, i will happily take it. I made a 2nd account a few days ago but still waiting on the progress of that account. I just want this first try at a bank bonus to go smoothly!!
My bonus posted once my transfer posted. It didn’t go pending, just posted. Just be patient for your initial transactions to go from pending to posted.
Says my “payment and transfers” options not activated… So I can’t initiate a transfer from M&T. I probably shouldn’t call them.
That just means you haven’t set up a linked account through M&T. It’s not really worth the effort because M&T charges $3 for every transfer initiated by them. If you want to transfer $ it’s usually better to initiate it from another bank account.
You can easily set up M&T to M&T transfer by validating transfers by selecting an account and inputting your corresponding Debit Card #
^ meant to say Debit Card PIN#