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

Published on February 8th, 2017 | by William Charles

169

[Expired] M&T Bank $250 Checking Bonus – Available Online (QO) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]

This bonus has expired, you can view current M&T bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV
  • Direct deposit required: Yes, $100
  • Additional requirements: Open MyChoice account
  • Hard/soft pull: Soft
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: Avoidable
  • Early account termination fee: $50 180-days
  • Expiration date: March 31st, 2017
  • Household limit: None listed

The Offer

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

Open a new M&T MyChoice Premium checking account by March 31st, 2017 with the promotional code QO and receive a sign up bonus of $250 when you do the following:

  • Set up a qualifying direct deposit of $100 or more within 90 days of account opening

m&t bank bonus

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

Unlike other M&T bank promotions, this one only works on the MyChoice Premium checking account.

MyChoice Premium Checking $24.95 Per Month

This account has a $24.95 per month fee, this is waived when you do either of the following:

  • Keep an average daily balance of $7,500 or more in the account per monthly service charge cycle OR
  • 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

In the past (here & here) people have successfully gotten the bonus without being targeted, but YMMV as always. M&T is a bit crazy with the bonuses at the moment, they also have another promotion code required offer for $200. Public offer for $150 and another public offer for $160 (will post about this shortly). In the past people have been able to churn these offers as well, not sure how long that is going to last. The other good thing about M&T is that they post the bonuses very quickly after meeting the requirements.

The downside to this bonus is that you need to keep it open for 180 days to avoid the $50 account termination fee and the monthly fee is $24.95. You can waive it but that requires a deposit of $7,500. If you compare this directly to the $200 offer you’re basically tying up $7,500 for 180 days for an extra $50 – not a good deal for most people.

I won’t add this to our best checking promo list until somebody that wasn’t targeted confirms they got the bonus. Update: Confirmed and also confirmed that stacking works.

Hat tip to soft_bespoken on /r/churning

Useful posts regarding bank bonuses:



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encin
encin

I am assuming if you have a mortgage with them over the stated 25K limit the account fee should be waived? If so would I be able to do this and also do the other bonus offers?

Chap
Chap

Does anyone know if you can open with a passport? It seems like they ask for either a DL, a military ID, or a non-state ID and I’m not quite sure if passport falls within non-state ID?

Sarah
Sarah

Yes, a passport is a non-state ID.

Sam
Sam

6.67 yield fdic insured. Not a bad deal. Why do you say not good for most people doc

Matt
Matt

I opened an account last December for a bonus; closed 6/2016.

I tried applying for this earlier today and got the message: “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 called and the lady told me I was outside of their geographical region? There’s an M&T bank literally a mile walk from where I live. I guess it’s a BS reason because I already had an account.

Anyone else with previous accounts have any luck? I also tried the QK code, no luck

Ian
Ian

Did you tell the lady that you’re a mile away from 1? Why not visit the branch and inquire?

Matt
Matt

Nevermind, apparently the $250/$200 offers have the same NY region restrictions as the $160 offer.

Just a heads up for fellow NY’ers.

Eric
Eric

This post says that NY is included. Are you saying that it’s not as you wrote “fellow NY’ers”?

Matt
Matt

Only a select few counties in NY are included. I believe the list is in the terms & conditions. This goes for the $250/$200/$160 bonuses.

jz
jz

I live in Brooklyn, which is King county. Do I qualify for the $250 promo? I just open the account a few days ago? Can you share with us the restriction language? Thanks.

jz
jz

DP
Open the account on 3/31. I live in Brooklyn NY. ACH $ from Discover to M&T account. Received the bonus on the same day when the ACH was posted on 4/6.

peter
peter

you simply need to go to your local m & t branch & open the acct at the branch. I had the same problem online.

Patti
Patti

I’d like to know if someone had success in your situation also. We both opened M&T accounts last June and closed them in Dec. 2016.
I can’t imagine this will cause a red flag. Maybe I’ll just help my 20 yr old son to get it.

Darn. There are SO MANY that I just completed that are now way better. Oh well, who could have known? They could just as easily dropped their bonus amounts.

Jake
Jake

Assuming this bonus post instantly like all of the other M&T bank offers, would it be okay to pay the $50 early account termination fee during the first month and take home $200?

joe
joe

Yes but reports that it isnt easy to close early. They give you hard time and make you go in branch

Ken Mclure
Ken Mclure

Just keep the account open, it’s free with ANY transaction each month.

Anthony
Anthony

[Data point] TD bank works as a direct deposit!

penngem
penngem

I know this may be a rookie question, but what exactly do you do? Just send a transfer of money from one account from another? I also have TD Bank and I’m looking to open M&T to get this bonus, thanks

yussuf
yussuf

2.24 Opened Premium Checking for wife using QO, Direct Deposit from Discover on 2/28, bonus posted on 3/1

2.14 Opened EZ Checking using QK, Direct Deposit from Discover on 2/17, bonus posted 2/17
Going to now open EZ for wife using QK and Premium for me using QO and I’ll come back to let you know how it goes. Meanwhile, Im not sure if I should first close the earlier accounts before I apply for the new ones.

This is awesome.

Patti
Patti

“Meanwhile, Im not sure if I should first close the earlier accounts before I apply for the new ones.”

I am wondering this too. My first plan was to open the premium account for the $250, then close it early, suffer the $50 fee, then open an EZ checking.
Now that I see I can open them both within a few days of each other, then downgrade the account after it’s open, I might just do that. Then I don’t have to worry about paying the early termination fee.

Jake
Jake

Would it be possible to change the account to EZChoice checking after the bonus posts? I saw an option to “change account type” when writing a message to customer service. Less fees that way.

Jake
Jake

Update: An online rep from M&T bank said this is possible to do without incurring any fees in the process

Ken Mclure
Ken Mclure

No mention of them clawing back the bonus?

Jake
Jake

Didn’t come up. I don’t see why they would since there’s no requirments to how long the account must stay open. Probably going to empty the account just to be safe

Ken
Ken

Ok thanks.

Patti
Patti

Quick question to anyone who has applied for Premier checking & EZ checking within a short time frame. For the question in the app that asks if you’re currently an M&T bank customer, do you answer honestly with a ‘yes’ when applying for your 2nd account?

Jake
Jake

I answer no because it’s quicker that way

Patti
Patti

I’m surprised their app can’t figure that out once they have the ssn. Do you have to have separate log ins for each account?

Jake
Jake

No they’re all under the same username. It just take a couple of days for the new account to appear with the other ones. It’s automatic

yussuf
yussuf

UPDATE:
2.24 Opened Premium Checking for wife using QO, Direct Deposit from Discover on 2/28, bonus posted on 3/1

2.14 Opened EZ Checking using QK, Direct Deposit from Discover on 2/17, bonus posted 2/17
3.1 Opened Premium Checking using QO for myslef, DD on 3/6 from Discover, bonus posted same day
3.1 Opened EZ checking for wife using QK, DD on 3/6 from Discover, bonus posted same day.

When i opened the second accounts on 3.1, the other accounts were still open. I selected that i had no other checking accts even though i had. I made a separate login, but now both logins take me to both accounts (they’re showing up together). I’m going to open with QM now and see what happens. I will probably leave the ez checking open for 180 but close the premiums asap (annoying because i have to do it in bank to pay the fee) easy $900 so far, DOC you are a beast! Thank you!

Patti
Patti

yussuf, (or anyone)
How did you get your account numbers so quickly? I applied for me, hubby and son on 2/28. We received our debit cards today so I can view our account info online but there’s no way to see the full account number (for ACH purposes). Online only shows the last 4 digits.
So I called the bank, told them I’m a new customer and will they be sending me further account info by mail? I was told no and that I either have to go into a branch to get full acct # or wait a month for my first statement to post. That sounds crazy.
I did a different M&T checking account in June and I don’t recall ever having to enter a branch. I guess I could if I really had to but there’s got to be a faster/easier way.

Ken
Ken

When you’re on the confirmation screen they give you your routing and account numbers. Miss it and you’re screwed it seems.

NBG
NBG

send a secure message online after login. The send message show the full ac#.

Avi
Avi

Yussuf, have you tried opening a third account for you or your wife?

yussuf
yussuf

Yes, i opened another two ez choice checkings with promo code QL. DD is in progress and i will update when bonus posts. SO far a total of 6 accounts. If this goes well, I will go far the 160 bonus as well.

Avi
Avi

Thanks for the DP! I was wondering if I should go for a third pair of accounts after my second pair of bonuses post. If your bonuses post, I think I will!

yussuf
yussuf

BAM! Both Bonuses posted today for both accounts! So thats 6 bonuses so far.

Gina
Gina

How far apart in between account openings? I did two for me on Thursday and tried for a third on Friday but it said to call in.

Avi
Avi

I did mine each a few days apart (so I could collect my bonus before proceeding to the next one). I started with MyChoice Premium, then did EZChoice, then Basic for the third. I wonder if trying to open multiple EZChoice in a short period of time is what’s causing problems for some people.

Gina
Gina

Hey Avi, where you able to change the basic and premium to an ez checking? I changed my premium but I’m going to try and open a third account with the QI promo code. Trying to figure which one is best. I wasn’t sure if they could all be changed to EZ and basic has a $3 non refundable fee. Thanks!

Avi
Avi

Gina, I changed my Premium to EZ via secure message, but am leaving my Basic as is for now, as it’s only $3/month. I just opened another EZ with code QI, so when the dust settles on that, I may try to convert that Basic account to EZ.

Patti
Patti

I also selected that I had no other accounts (as others said too) but now it won’t let me create log ins for the new account. Maybe I typed the PIN wrong or got them mixed up. I’ve been doing 3 of each one so it’s quite possible I’m losing my marbles.
Or maybe because I haven’t activated the cards yet. I’ll try that.

Jake
Jake

DP: It’s possible to switch this account to EZChoice checking after the bonus has posted by sending a message to customer service

Eric
Eric

Is the fee waived for the first month? If not, do you think you are going to be charged the $24.95 fee (assuming you didn’t put $7500 in from the get go)?

Jake
Jake

No, I don’t think I will be charged the $24.95 fee because the account says EZChoice checking now and the $7,500 average daily balance is not a requirement of EZChoice checking.

Jake
Jake

Also, the fee is waived for the first month from opening

Doc_Liker
Doc_Liker

someone successfully opened over the phone with this promotional code? I am not getting any security questions and a page is displayed asking me to try to go over to branch or phone.

Ken
Ken

Where do you live? Are you a US citizen?

Doc_Liker
Doc_Liker

I live in FL and a Resident Alient

Ken
Ken

Could be resident alien status and they can’t find any identity questions to ask you so it defaults to branch only.

Cicero
Cicero

Transferred $200 from Ally and I received the $250 bonus the next day. This was my second account in the last 6 months. I used a unique code for my second account.

NBG
NBG

I opened the $250 bonus account late last night (around 11:45-00:15). It says approved with all the usual confirmation..but the account# was blank. It also said the PIN could not be processed and they will send one in snail mail. Anyone experienced this?. I could wait for few days to see if the account shows up online.

Ken
Ken

Interesting. Without an account number or debit card you won’t be able to setup online access. If you have an existing account it may popup in that login in a few days though.

NBG
NBG

Luckily, i have existing account. So hopefully, it pops up in few days.

Patti
Patti

Oh and they did send me a PIN in a separate mailing from the ATM card.

Patti
Patti

I did have that experience where they said my PIN couldn’t be processed but I did have an account number. I would call the help line.

NBG
NBG

i don’t want to call helpline now and bring attn to the other accounts as they go by ssn.going to wait a few days and see if it pops up online. On the bright side, i see the initial deposit pull in process from my wellsfargo.

andrew
andrew

I got the same thing. Send a random secure message, check your outbox, and the account number will be in there.

taddy
taddy

Thank you for posting this. I was thinking that I was going crazy when I saw that the account number was blank and yet they gave me the routing number.

This will be my first time making an account with them so I’ll just have to wait to get that in the mail so I can set up the online banking (really don’t feel like calling).

NBG
NBG

Any update on your end?. Nothing so far on my end.

taddy
taddy

I did call but was told that I’d have to wait for the account to be made to get the account number.

I checked the mail today (3/23) and finally had a letter from them telling me the account number.

Ken
Ken

Just opened a $150 offer and my account number was blank and they couldn’t use my selected PIN. Did you just wait for the account to show up in your earlier login and send a SM to get the account number?

NBG
NBG

I was about to give up and today i see initial deposit pull of $25 processing in my WF checking (usually the 3rd business day from opening in MTB) Once it posts tomorrow in my WF account, i can see the last 5 digits of the account#. But, still i don’t see any in my online account. Guess i need to wait for the card to show up.

NBG
NBG

Did u open during off hours (10:30PM to 8AM) or during normal hours?.

Ken
Ken

If you’re asking me I just did it, so during business hours for me.

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