Posted by William Charles on August 23, 2017
Bank Account Bonuses

Published on August 23rd, 2017 | by William Charles


M&T Closing Newly Opened Accounts [More Information]

Reddit user forgivenfreeonfire was given the following explanation when they asked about their opening deposit on a closed account:

  • Our records indicate that you have opened multiple accounts and received promotional bonuses on previously opened accounts. Your account ending in 0592 has been flagged due to this previous activity and we have determined that the additional account will not remain open. If you have a legitimate reason to need another account, please step into an M&T branch office and they can assist you.

I’ve had several reports from readers in the last week that M&T has closed down their newly opened accounts. This seems to be only affecting people that opened with the code QD & not QC. There is also some additional discussion of this issue happening on /r/churning. This isn’t terribly surprising given that M&T has been cracking down lately (first with enforcing location requirements & now requiring bringing the mailer in branch). It’s still something people should be aware of, feel free to share your own experiences in the comments below. Also worth pointing out that I think this is only affecting people that have opened multiple accounts using the same code, but not 100% sure on that.

232 Responses to M&T Closing Newly Opened Accounts [More Information]

  1. y3ll0wsubmarine says:

    So I’m pretty sure this is affecting more than just multiple code users. I opened an account for my dad using QC and have twice tried to send trial deposits to it and nothing happens with the account on M&T’s site. This is my 9th overall account setup so it’s not like I don’t know what I’m doing, just his first account.

  2. Michael says:

    Are they closing the account and taking back the bonus? Have you heard of them being charged the ETF for it being closed within 6 months.

    Hell, if they aren’t clawing back the bonus and waiving the ETF they can close ALL of mine..

    Just sayin’..

  3. Grant says:

    Thanks for the heads up. I just logged into my M&T Bank account and all 5 of my checking accounts are still open. I will let you know if that changes in the future. Still waiting for the last $200 bonus from QJ. Opened on 7/20 and made first DD a week later.

  4. Ben O. says:

    All 9 of my accounts are still there – not that I really care if they close them. I’ve already gotten the bonus on them out of there. Would actually save me the trouble.

  5. Phillip M Dampier says:

    Earlier this year they wanted additional documentation on a checking account and line of credit I’d had open since 1982(!). The letter was dated the same day as their deadline and the letter didn’t reach me until two days after that. Result: Accounts closed, checks made useless, oldest credit line on credit report closed as their action.

    No problem, they said. We can pull your credit and open a new line. No thanks. I closed every account I had with them as a result of this. They waived ETFs on all of them, but I was done.

    The location enforcement is important because M&T no longer wants to let you close an account unless you visit a branch to do it. That is getting more strictly enforced as the year goes on, and they will tell you over the phone they won’t accept phone or written requests for account closures any longer. You have to visit a branch. But some reps are more lenient than others, at least at the moment.

    Their promos were abused because you could open multiple accounts and get the bonus on each one. One guy opened more than 90 accounts in his and multiple family member names in less than six months. Now you understand. People can’t help themselves when it comes to greed and free money. That is what causes geographic enforcement and other crackdowns and ruins it for everyone else.

    • JASON says:

      “One guy opened more than 90 account”

      Do you have a link to the person’s story?

      • Gary says:

        I should hope not. This died because people couldn’t shut the hell up. I hope this guy wasn’t stupid enough to put his story online, although humanity continues to betray my faith.

    • Mark Ostermann says:

      I guess I need to stop in a branch while in NYC and close down my accounts then!

        • Mark O says:

          If you can’t do it via phone – I don’t wanna keep them open indefinitely

          • Mimi says:

            if you’re going to pre-empt their AA, there is a possibility they will enforce ETFs on your account(s). But if they’re the ones who closes your account, they won’t likely charge you ETFs.

          • Mark O says:

            I am not worried about getting shut down but I was going to close them after the 6 months is up and I am not near any and if you can’t do it over the phone then I will have to do it sometime when I am in the area.

    • HarryTheFirstHarry says:

      Sorry to hear about your legitimate accounts being closed, but the blame is to rest not with the people who take advantage of the offers that the bank advertises, but with the bank itself for having poor IT and poor customer service.

      Not to diss your comment, but every time a deal ends people cry that it was “abused” and so it ended. Deals are never meant to last a lifetime…thats why they are deals. Deals have to be done and have to be maximized as much as possible to each ones possible extent. Abuse is not a good word for those who see the opportunity and make use of it. There really is no question of “ruining it for everyone else” because you know right from day 1 that loopholes will end one day or other – not necessarily because people make use of them, but because the bank or institution is finally getting their act together. It just appears on the outside that the deal ends because of a loophole being exploited, while in truth, it could just as well be that the bank is now going about fixing what they should have done much earlier – never even let a loophole open. If someone could do 90 accounts, more power to him or her – just one of us who could do even more.

    • Deb says:

      Deadline the same as the letter was dated? You’d have a valid complaint to file with a banking authority for that one.

  6. V says:

    “Also worth pointing out that I think this is only affecting people that have opened multiple accounts using the same code, but not 100% sure on that.”


    I can confirm that it happened to me and my family members’ accounts (3 or 4 in total) even though none of us used the same code more than once. Also worth noting is that I opened one for QC and another one for QD, both were about one day apart at the end of June. Both of my accounts were opened but I went on a vacation before seeing my account number so I couldn’t transfer the $100 to get the bonus. By the time I came back, there were letters in the mail (for both QC and QD accounts) stating that “The bank has chosen not to service your account” and that the accounts have been closed.

    I have had 5 other account bonuses before this closing. All of those accounts are open and they did NOT take the bonus money out of those accounts. I think that if I had done a $100 transfer before they closed the account, the bonus would have posted.

    TLDR; previous accounts and account bonuses are fine. QD and QC from end June were both closed before I met the requirements for the bonus.

    • I think this is a separate issue due to you not funding the accounts initially (you had no funds in the account, right?)

      • V says:

        I don’t think so, I am quite sure in the past I had accounts with zero funds for a few weeks without any issue. This time the accounts were closed around 14-17 calendar days after the day of account application. I think MTB would usually just charge the monthly fee if I had no transfer during that statement period, instead of closing it. In the first month, i think they even allowed a grace period and waived the fee even though I didn’t do any activity that would waive the fee.

        • Pretty sure ive seen DP of M&T closing accounts with no funds in the account before, but maybe I’m wrong.

          • Mark says:

            It says fund within 30 days when you sign up. I funded on 31st day (earliest possible due to being overseas) and it worked out.

          • V says:

            Either it was not an issue before (zero balance accounts) or I must have gotten lucky the last time I had accounts survive with zero balance.

            I just confirmed the activity history for an account of a family member:
            Opened 3/14/17 (zero balance)
            Trial deposits from external bank: 4/11/17

  7. John says:

    I was able to squeeze one more QC in for SO but the 3rd QC I opened for myself showed up instantly and then was taken off of online banking.

    I received a letter saying “Thank you for providing the information…. your account number is ###” but no pin and I wasn’t able to activate the debit card they sent me.

    All of my SO’s accounts are still open and all of my 7 accounts are still open so it looks like they just started minutes after I opened my SO’s 2nd QD or they didn’t like that I opened a 3rd QC or they didn’t like that I was opening an 8th account. Hard to say but I am satisfied with the ~$2k I received.

  8. Gerhardt says:

    Opened up QDx2 (first double) on 8/10, in Texas. DD posted 8/15. Transferred bonus out 8/17. This was my 6th account. All are open as of 8/18. Debit card activated last night. I have sent in each signature card so far as well FWIW. First account opened 4/14.

  9. SAS says:

    I have opened 4 accounts with M&T since 7/10/17:
    Account #1: 7/10/17 with QJ, obviously did not receive the bonus as I was not targeted. Learned of this a few days after applying.
    Account #2: 7/21/17 with QC, bonus posted 7/25/17
    Account #3: 7/26/17 with QD, bonus posted 7/28/17
    Account #4: 8/9/17, with QC, bonus posted 8/14/17. I figured I would give this code a shot again and it worked again.
    All accounts are open as of now. I will update of any are closed.

  10. Michael says:

    I have opened a QC account ever 4 days in the last 2 months, my wife and I have about 28 accounts between the two of us…none of ours have been closed

    • MarcoPolo says:

      Way to go Michael.
      I hope you are happy to kill the golden goose for everyone.

      • Gadget says:

        +1. (Sarcasm voice) I wonder why the bank is shutting down accounts? (Non-sarcastic) This day should have came about 6 months ago. They obviously did not pay attention to the trend.

    • J says:

      Michael – you are my hero and I am following closely behind your steps. I have been opening accounts every 5th day (ie. one 8/24 and then one 8/29) and bonuses have all been posting. Just curious, when you say every 4 days is it like 8/24 and 8/28? perhaps I can speed up my account opening.

  11. MarcoPolo says:

    @ William
    This is wonderful news!
    I have received the bonus and was waiting for 6 months to be over before I start closing them.
    If they are closing them by themselves then I don’t have to.

    It’s sad that greed eventually led to this derailment of the gray train.

  12. y3ll0wsubmarine says:

    LOL, just got a call from M&T, figured it was about my account. They just wanted to know how everything was going. I told the rep that one of my accounts was missing and she said “I can see that it was closed, but it doesn’t say why.”

    Soooo I might try another bonus code next week, just for the hell of it

  13. doug says:

    if they are closing the accounts, do you lose the money in them or do they cut you a check? I have five accounts (three QC and two QD, all opened in July/August 2017 and received bonus on all of them) and each account currently has like $5 in them.

    i dont really care if they close them, just curious if they pay you out if there’s balance in the accounts?

  14. Austin Auclair says:

    Was about to open an M&T account for the first time should I not now?

    • Mimi says:

      If it’s your first account and you’re in an area they have branches, I’d say go for it. The chances are in your favor that you’d get the bonus. Just stay away from the unreliable QJ code and use QC or QD instead. Good luck!

      • Austin Auclair says:

        Not in the area they have branches. Should I steer clear it that case?

        • Mimi says:

          IF you apply, either you get approved but they don’t give you the bonus OR you’re approved and you get the bonus. since this your first account with them, I don’t think you have anything to lose except if by chance, they refuse to give you the bonus since you’re out of their target area. but then you won’t know if you don’t try. It’s up to you to make the decision.

      • J says:

        was finally able to open my first M&T account last week (kept saying there were issues in previous attempts). I reside outside of the service area (california) and I opened with QJ since I didn’t know they started enforcing location restrictions. We’ll see what happens 🙁

  15. Devin G says:

    Hopefully all of this gets solved quickly, I am so very tired of hearing about M&T accounts. It seems like 60+% of everything I hear in chats is about M&T.

  16. TJ says:

    Opened acct 7/12. DD 7/28. Out of target area and no bonus.

  17. Patti says:

    How sad this wonderful era in banking is coming to an end. Even sadder that it took a bunch of financial geniuses this long to realize they were hemorrhaging $$$$.
    I was only a few weeks away from being able to start closing down accounts that I opened in Feb.

    Now to decide if I should wait 6 months and close them all at once? Or keep going into different branches and closing one at a time?

    • Deb says:

      Did you read something else? This just says that accounts newly opened with QD were closed. That’s all.

      • Patti says:

        It’s not only QD that’s the problem. QJ is very limited so they are obviously cracking down. I also read that they are not allowing people to close accounts by SM or phone any more. They are being told they need to go into a branch. I really don’t want to have to sit in a bank and tell them I want to shut down one account but leave the other 6 there (until their 6 months expires).
        It was all so easy before.

        • MoreSun says:

          That should be hilarious when those of us in CA have to close & they say come into branch. So many CFBP complaints will be filed a rep from OCC will practically be camped out at their HQ!

  18. captainsave says:

    Just open an account using QD. Lets see how it goes.

  19. Stacy says:

    I opened (2) QD a few days ago. Waiting for connections to Alliant now.

  20. SamSimon says:

    Some people said after opening more than 5 accounts – they cannot open more online, they suggest go to the branch and open there.
    Is it wise and will it work?
    1. If on all 5 accounts there will be no more than $10 – the banker don’t care?
    2. Banker won’t report your account?
    3. If opening at branch will be able to bypass the limit?

    • MoreSun says:

      No. It’s NOT wise to have a banker put eyes on your accounts. One person did that when they had a technical problem with their online account & after the banker saw their multiple accounts they shut them & their spouse down permanently. You’ve hit too hard too fast. Wait 5 weeks from your last application denial & try again.

    • Jags says:

      Going into a branch with multiple BS accounts is a death sentence. Do not do that.

  21. Jacob says:

    Should have taken advantage of this more while I had the chance. I just opened 2 accounts so we’ll see if this thing is still going.

  22. agoodyeshivabachur says:

    i opened 3 accounts and closed them all whithin 3 months
    yes i did get the bonus on all 3

  23. MoreSun says:

    8/18 Opened QC (2nd time)
    -received instant acct number, 3 weeks since last acct
    8/20 Ally push
    8/21 $150 bonus received
    (Also posted on Reddit so this is just 1 DP)

  24. doug says:

    opened a QC three days ago. got an email this morning saying “thank you for online application…ufnortunately can’t open your new account”..

    i have 3 QD/QC accounts opened in the past 1.5 months, got bonus on all 3. looks like my time may have come to an end. gonna try to do a QD right now but assuming ill get the sorry email again

  25. Too good 2B! says:

    QC code was attached to my closed account. It was account #6. It went through initially with a online confirmation, then an email was received 3 days later advising “Thank you for applying for an M & T Bank account. We are unable to process your application based on the information that was provided via the online channel at the present time. If you need further assistance, please contact your local branch.”

  26. Frankie says:

    Seems like there are always two kinds of people in the bank account and card churning hobby – those playing the long game and those playing the short game. Theoretically, in the short run, the short gamers may be making more $$, but I gotta think the long gamers, flying under the radar, keep their names & soc sec numbers off the bad boy list….so they can just quietly scoop it up over time.

  27. Anand says:

    Not related to this posting at all, but I am wondering how to let DOC know of new targeted deals. I received what looks like a targeted offer from Amex that I don’t see on your real-time list yet. Just wanted to contribute.

  28. Luke says:

    This makes more sense now. Last week I opened a second QD account and my trial deposits from Alliant have not posted for some reason along with my $25 opening deposit. Guess the gravy train is indeed over.

  29. Mike says:

    Well just opened up #14. Still trucking! Profit >2k so far. Funding myself through grad school.

    • Christina says:

      How long do you wait between opening accounts?

      Also, since you’ve opened quite a few accounts with M&T could you give your input on the question below? Here’s some background: I opened an account on 8/9 with promo code QC, received the bonus, and opened an account on 8/22 with promo code QD (waiting on DD & bonus to post). I thought the new (2nd) account would show up immediately in my online account but it didn’t. Being impatient, I clicked “enroll now” at the bottom of the account-opened confirmation page and created a new online account for the 2nd checking account.

      The question(s): Any idea if I just totally screwed everything up for opening future accounts? I sent an SM to see about combining the user ids (figured it was safe to contact them since I only have 2 accounts and may actually use them legitimately for a little bit), but haven’t heard back. I’m used to CC CS reps who respond to SMs within 12-24 hours… should I wait it out or go ahead and give them a call? Basically, when I open another account in 1-2 months, I want to make sure it is auto-added to my existing online account 🙂

      Thanks in advance!

    • Christina says:

      Nvm my question about the online accounts. I didn’t get a SM response, but just got the below email. (At first I thought my *account* had been shut down!) Not sure whether they closed the 2nd user id in response to my SM or if it was automatically done, but both checking accounts now show up under my 1st user id.

      >Dear XXXX,
      >Your M&T Web Banking Profile has been updated. Identified below are the changes made to your account.
      >Updates to your M&T Web Banking Profile:
      >Your M&T Web Banking Account has been closed.

  30. @DoC

    A success DP here for repeat QC –

    A colleague opened his 7th M&T account in Northern VA re-using QC on 8/17
    The account showed up online on 8/18 after a 1 day delay. The process did not allow him to fund the account at opening
    He transferred $100 from Wells Fargo and the ACH was in-progress as of yesterday 8/23
    This morning 8/24, ACH AND bonus have posted.

  31. Jonathan says:

    This is why you need to spread out new accounts that you open. Those of you who decided to open 2 accounts on the same day w/ M&T or even 6+ accounts in two weeks and so forth ruined it for everyone else. Slow and steady wins the race, but people get too greedy and hit it way too hard way too fast. And here’s another rule of thumb…NEVER CONTACT THE BANK about not receiving your bonus if you have more than one account, are out of the target area, etc… That will only bring eyes to what you’re doing and can lead to them cracking down on everyone.

  32. Matt says:

    I’m in the targeted area and I received the original QJ mailer, so I might as well give a DD.
    Opened an account on 7/16
    Completed a transfer of $100 on 7/18 from NavyFCU. No bonus.
    Went into a branch and verified QJ with the flier in hand. Teller stated that they would only honor a work deposit, not a P2P / Web transfer.
    First work deposit posted 7/31. No bonus.
    Walked into a branch on 8/5 to ask about the status. They said the DD was qualified and that it should show up in my account within “6~8 weeks”
    We’ll see how this goes.

    • MoreSun says:

      Well that’s a superbly weird DP man! Hope it comes through for you but ouch- legitimately targeted and no bonus.

      • Matt says:

        As a follow up, the QJ bonus finally posted, but only after two additional phone calls to M&T.

        Just as a reminder I was a targeted customer with only one M&T account, that hadn’t used any of their other bonuses so there was no reason for them to deny me in the first place.

  33. Jacob says:

    FREAKING OUT. I sentenced myself to death and walked into an M&T to withdraw money from 4 of my checking accounts. the teller was questioning me and ultimately got the branch manager involved. the branch manager said there was a hold on my account, so i questioned her more. She sat me down in her office and had someone from the security department on speakerphone asking me why I have 4 checking accounts. I simply said that there was an online offer advertised online, and that I have been using all 4 of my accounts for debit card transactions. They put a freeze on all of my accounts and are doing an investigation until Monday. I’m pretty worried at this point. I’m wondering if they’ll close all my accounts, take the bonuses away and then report me to chex. Hopefully they just cut me a check for the full amount but i doubt it. DO NOT GO INTO THE BRANCH!!!!!!!!!!!!!

    • yah says:

      why in the world would you go to the branch to withdraw money out of all places?? Either ACH pull or ATM. Jesus

    • MoreSun says:

      Hindsight is 20/20. Seriously. Yes, it seems like a dumb mistake to make now but it didn’t seem dumb at the time, happens to all of us at some point. Thank you for sharing so nobody else makes that mistake in the future! Let us know the outcome once it all settles. And if they hit your Chex protest it, you did nothing wrong. (Don’t ask them if they are going to ding your Chex btw! Just wait and see on that one.)

      • Jacob says:

        Went better than expected. They closed my accounts and gave me all of the funds. They even waived the ETF on all of them. I am not sure if they dinged my Chex. Hopefully it’s just m&t I wont be able to have a relationship with but I’m perfectly okay with that. The only paper I signed were withdrawal slips.

        • MoreSun says:

          Good for you, glad you got that wrapped up without having to wait through the weekend! Sounds like the best solution for you and the bank. It also jives with the experiences a couple other people have had when their accounts got shut down.

    • STEVE says:

      Jacob let us know what happens and whether they report anything to chex. Good luck and hopefully its nothing too bad

      • Jacob says:

        Went better than expected. They closed my accounts and gave me all of the funds. They even waived the ETF on all of them. I am not sure if they dinged my Chex. Hopefully it’s just m&t I wont be able to have a relationship with but I’m perfectly okay with that. The only paper I signed were withdrawal slips.

    • JP says:

      In this hobby less human interaction is the best. you brought it upon yourself when walked into the branch. hopefully you get your money but let this be lesson for you and all. I’ve been doing this for years now and rarely talked with human except for closing account over the phone.

    • JASON says:

      “had someone from the security department on speakerphone asking me why”

      I would say, I can have as many as I want and as long as I got approved.

      • Jacob says:

        Yeah there were so many things running through my mind at that moment. I just got cocky trying to do a withdraw, so I really didn’t expect to be in that position. After the interaction, there were so many things I was thinking to myself that I could have said. I did tell them that the promotions were offered to me online and that no where in the terms and conditions does it say limit 1 promotional per customer.

  34. JP says:

    Reporting QJ bonus worked along with QC and QD for spouse. It already worked for me few weeks ago. in PA and so many m&t branches around.

    I only open one account per code btw.

  35. Steve says:

    Is anyone still planning to open more accounts? I only have one and would like to open a few more before this ship has sailed, if it hasn’t already

    • Patti says:

      I just opened a 2nd QC for myself, hubby and son. I saw today that my dd is pending. We’re at the gate about to leave for vacay so I will post when we return.

  36. humberto says:

    I opened a QJ in Richmond VA. I tried Discover Bonus and Paypal. No bonus.
    I am going to do a true DD and/or HSA deposit (ACH).

    • MarcoPolo says:

      I don’t think that’s gonna work.
      In my experience if the bonus doesn’t post on first attempt then it’s it’s not gonna post with anything you try.
      Won’t hurt you to try but keep your expectations low.

  37. Mrs. Gee says:

    Uh oh. My husband and I each just the dreaded emails. In PA and we are shut down. It was beyond great while it lasted.

    • MoreSun says:

      When was the last date you applied? Are they closing all your accounts?

      • Mrs. Gee says:

        No accounts have been closed. We each applied for a new account within the past couple of days. Those applications triggered the email declining the opening of the new account with the same wording that others have mentioned. We also have a couple of accounts that have been opened where the opening deposit is still pending. Waiting to see if they will pay out the bonus on those or not.
        Thanks to DoC and all the posters on this site for all the DPs!

  38. John says:

    I opened a QC account last Friday (account #6, 2nd time QC). Got account number immediately and were able to instantly verify in Ally. However my $101 transfer from Ally was returned today due to some sort of freeze on my new account. I haven’t received the shut down email yet. I still see that they withdrew $25 initial deposit from my BoA but that $25 has not been posted yet. Should I do another transfer from another bank like Schwab?

    • James B. says:

      It looks like mtb is enforcing the 1 bonus per customer rule and mtb will close your account #6. You can try another transfer from another bank but do not bet your house on receiving the bonus.

      Good luck!!!!!!!!

      • Amy says:

        I’m curious to know if it’s a strict 1 bonus per customer enforcement or possibly happened because he reused a code. (And might being in or out of the target area factor in there as well?) I never hit them hard and was thinking about opening one, maybe two more accounts before QC and QD* expire. So far I’ve only received one bonus–I ran into issues when applying for the first one, so I might not have even been eligible, and then I screwed up with timing the deposit (live and learn)–and I’m no where near any branches.

        * I did note Will’s remark above about this one.

        • zkay says:

          I only used three codes, QJ, QD, and QC, in that order, and only once each. I live out of area, and used the last code QC on 8/23.

          QJ I didn’t receive the bonus for (and I know I won’t now, due to other DPs here and on reddit). QD I received the bonus for and withdrew. QC I opened the account, got the ‘welcome’ email, and see that my transfer from my bank to M&T posted on my bank’s side, but there is no activity at all on my QC account on M&T, not even pending transactions.

          Not sure what to make of it, but hoping my deposit goes through so I can at least transfer that out without hassle.

          • John says:

            Your account has been frozen. Your transfer will be returned tomorrow to your bank. Same thing happened to me yesterday. You can test account being frozen by doing internal transfers between your mtb accounts to see if they go through

    • John says:

      Update: Couldn’t do internal transfer from other mtb accounts to this new one. So I think my new account is apparently frozen and dead now. Don’t know what is their next move. Just hope to receive $25 initial deposit back. Also it seems that some get caught some don’t and still get the bonus?

      • James B. says:

        MTB is starting to widen the net to enforce the 1 bonus per customer rule. You should be able to withdrawal the $25 initial deposit. So far it appears that MTB has only started to freeze some accounts and has not clawed back any bonuses. It is probably best to keep your balances low so MTB cannot claw back any previous bonuses that you received.

      • James B. says:

        Their are several options to get funds out of MTB accounts. Bill pay is easy. Or use the debit card to withdrawal cash out.

        • Darv says:

          Any attempted transactions on a frozen account will likely fail, even if you schedule a bill payment. This happened to me with Wells Fargo. if it’s frozen, probably can’t do anything until it’s resolved with M&T.

          • James B. says:

            I agree that getting funds out of a frozen account are probably best accomplished by a phone call.

            I am referring to getting funds out of other non-frozen MTB accounts that have received bonuses.

      • MoreSun says:

        Be patient. If the account is being closed the deposit will either be ACH back to the originator acct or MTB will send you a check for the balance. At least this is what is happening to others.

        • James B. says:

          When MTB froze my account, they basically canceled the ACH attempts and froze my debit card. The MTB rep then told me that the account was frozen and will be closed because only 1 bonus is allowed per customer.

  39. III says:

    Tried to open an account with QC and QD earlier this week, I’ve never had an account with them before. I’m pretty sure the accounts are frozen so it should be interesting to see what it says on my Chex report. Anyone see what M&T has said on theirs yet?

    • Christina says:

      If you’ve never had an account with them it might be fine.. but it might not because you hit it x2 all at once with QC and QD haha.

      I opened my first account on 8/9 (QC), received the bonus, and opened my 2nd account on 8/22 (QD). I got that bonus also, but both accounts took a while for the funding deposit to post and also for the ACH push to post.

      I’m still debating whether or not to try QC again myself (sometime in September). Can’t hurt, right?

      • Gadget says:

        “8” (Aug) seems to be a different territory than “9” (Sep). M&T finally figured out they were negligent in maintaining their shareholders funds. Go figure.

  40. zkay says:

    Update to my comment above: The QC account suddenly had the deposit show up in ‘pending transactions’, it was never cancelled by M&T and sent back to my bank. I’ve also not received any kind of notice about account closure or freezing or anything, and got the welcome letter for the account today in the mail.

    I’m going to wait for it to deposit, then attempt a transfer to trigger the bonus, figure I have nothing to lose. Will update.

    • Christina says:

      Might as well initiate the transfer now – you have the account number, so why not? My PNC transfers take like 4-5 days haha idk about your bank.

      As noted in a few comments above 🙂 my 2nd account took a while to show up online and the funding deposit took almost a full week – with no indication it was coming until it showed as pending and then posted the next morning.

      • zkay says:

        When I tried to add it to Ally as an external account it didn’t work at first, guessing because it was either too new or something on M&T’s side. I instantly verified it with Huntington, but there’s no money in that account (just got that bonus and drained it).

        So I have to go Ally => Huntington => M&T, but it’s alright, not in a huge rush.

        • Gadget says:

          Same boat. I am getting a feeling that is their control measure now. Block incoming ACH/DD until they manually verify you haven’t got a new account bonus before. Oye. Another wasted Chex pull and another account I have to babysit, if they don’t close it.

  41. Rc says:

    New code QK has been released for $200!!

    M&T is back baby

    • Patti says:

      We did a lot more than usual spending this vacation!

    • Gadget says:

      Question that remains is it as viable as QJ was???…. where only certain folks got the bonus, and the rest of us just hold the account open because we refuse to pay $50 to close an account that is free for only 1 transaction a month.

      Really surprised Doc hasn’t covered the newest “QK” yet. Seems like Charles is busy lately, because, while not all not all my posts are winners, some DP posts I have made have gone unnoticed. No worries – everyone has a life and bank websites aren’t all of it, I hope.

      If anyone pursues QK, please post the result and your approx. location. If this is another waste of a Chex pull we would like to know. Thanks to the willing and adventurous that forge ahead.

      • Mark says:

        DP: Opened my 8th M&T account using QK; and it did not go to pending. However, the funding method page hung-up when I selected the $25 transfer option from my bank.

        When I reloaded the page it said I had attempted too many tries using this method and defaulted to having to send in a check. I logged-in and transferred a few dollars from each of my other M&T accounts to fund the QK account.

        I’ll report back on the outcome. I live in western MA.

        • Jacob says:

          Report back soon.

          • SamSimon says:

            Please people who opened M&t QJ and never got it, but got this QK please reply, I want to know if QK is targeted or not, I don’t want to waste my chex, thanks!

          • Mark says:

            I logged in today to see if my verifying deposits from my regular bank had been credited the new QK account.

            The QK account has disappeared from my list of accounts. I have not received an e-mail from M&T saying the new account was eliminated, but perhaps they left a voice message on my home phone or perhaps I will receive a letter.

            Not too surprising, but I am wondering what happened to the transfers I made into the QK account from my other M&T accounts; this amounted to $23.

            I am technically out of M&T’s service zone, so I guess if you have opened multiple accounts, I would recommend against opening a new account using QK.

            My other 7 M&T accounts are still active (for now).

    • Thamis says:

      How come Chuck hasn’t done an article yet on the new code (QK)?

    • James B. says:

      MTB has frozen my second account with them. First with QC and now with QK. It looks like my login is flagged so any new accounts I open are automatically frozen.

      At this point I am not going to waste anymore Chex pulls with MTB.

      Anyone lucky with QK?

  42. A Chiang says:

    DP : basically the same as Mark above.

    Have 7 M&T accounts open. (Live within miles of branches in MD, did not get QJ bonus, did get *two* QC bonuses) opened a QK account less than a week ago – account was approved with account number when finished application and showed up online immediately. Scheduled my CapOne trial deposits (as usual) and checked yesterday – no trial deposits but account was still there. Checked today for trial deposits and account is gone.

    My husband has same set of accounts as me and his app for QK accounts did not get approved immediatly (“information had to be reviewed”) and we got an email saying they were “unable to process the application based on the information provided”. So no QK for him either.

  43. Patti says:

    So I am wondering if those who qualified for the QJ bonus would also get the QK bonus.
    I did get QJ bonus (S. Jersey burbs of Philly) and I plan to try for QK but I just opened a 2nd QC in late Aug and like to wait a few weeks between each acct opening. I had no trouble with that for me, hubby & son, and the bonus posted last week.

    Does anyone have an exp date for QK?

  44. Joe says:

    i posted this on r/churning, figured i should post this here too.

    Called M&T to do an address change (I’m moving). They asked me point blank if i opened 4 accounts just to receive the cash bonus. Was pretty taken aback. They said there’s no use changing the address as the accounts have been already been flagged for closure and the bonuses will be taken back. I spoke to a supervisor who said he cant give me any more info 🙁

    • Patti says:

      Joe, You do realize that the US Postal Service will forward all mail to your new address for up to 1 year, right? Also M&T has paperless statements; they email you when a new statement is ready. You could have just held out 6 months then closed them all at once.

      Too late now but people should follow rule #1, DON’T CALL THE BANK!

      There are a handful of exceptions which would apply with any bank such as if it’s your only account with a bank and having trouble getting your account started (missing start-up funds, can’t get online, need to change ATM PIN, used a REAL dd but still no bonus, etc.)
      I did have to once call Santander when my legit dd over several months did not trigger the bonus. I gave them no reason to believe I was chasing bonuses. For all they could see, I was just a new customer and they wanted me to be happy.

      Once you have MULTIPLES of the same account, don’t call for anything. It only draws attention to your abuse and pisses them off.

      • Joe says:

        incorrect. Never call about the bonuses or terms etc, but to call just for acct related questions shouldn’t be an issue.

        • Patti says:

          Umm… It’s exactly correct. You drew attention to multiple accounts and got yourself snagged.
          I have 8 accounts. I’m not calling them for anything, not even when I want to close them. I’ll gladly send a notarized letter.

          No one has mentioned any clawbacks, even after getting caught, so hopefully they return all of your funds to you like others did.
          Good luck to you.

          • Rick says:

            I wonder if the notarized letter approach is any better though. I also had 8 accounts and asked via secure message to close the oldest of the 8 today. Zeroed out the balance right before with a transfer to one of the other accounts.

            They closed the account with no problem. I agree that the one-at-a-time closure approach gets eyes on your 8 times instead of one, which isn’t great, but sending them a letter asking to close 8 identical accounts– all of which received bonuses– may also arouse plenty of suspicion, as it draws attention to the fact that you have so many. It also makes it a little more obvious what you were up to, at least I think.

            It’s “six or one half dozen”, I guess.

        • Timmy says:

          Keep me updated please on whether or not they actually do claw back your bonuses. Would appreciate if you can update this thread. THanks!

    • James B. says:

      Hi Joe,

      Did you get most of the funds out of the 4 accounts before the freeze?

    • James B. says:

      I agree that there are no reports of clawbacks yet. But it is still advisable to keep balances low to avoid clawbacks.

      I have had 2 accounts frozen and then closed with now clawbacks on the other accounts.

      • Rick says:

        Seems to me that keeping balances low might not help. As long as the account is open, they can always claw back by making your balances negative. Plus then they get to charge you for an overdraft.

        However, I generally agree… I keep my balances low for this very reason and figure it can only help my chances overall.

        • Mimi says:

          with all uncertainties, it’s best to check our accounts daily just in case it goes negative, we can fix it immediately (if possible). otherwise, if any/all of our accounts go negative, we will be slapped with a huge overdraft fee and like other banks they’ll give us up to 5 business days to bring it to positive or they’ll charge more fees.

          • Mimi says:

            by the way, I keep all balances just above 6.95 with a penny or nickel more for each account to vary balances.

  45. Patti says:

    Rick, I figured that by closing all 8 at once, it goes down on record that they were closed at the customer’s request. If I only request 1, eyes are on my accounts and they could shut down the remaining 7 involuntarily.
    You are lucky that was not the case for you. I’d like to see more reports of closings from others with multiple accounts before I’d be willing to try.

  46. Gadget says:

    I have been closing them one at a time, via SM. No issue, other than if you try to close them by even a day too early, they tell you have to send the notarized letter and will cost $50, or go in branch. Now I’m down to handful open, and a couple for SO.

    I found if I have 6 statements posted online, then I can close without getting yelled at. If the 6th statement hasn’t posted yet, you have to wait.

  47. Patti says:

    On Friday I sent SMs to request closing of the oldest account for all 3 of us. Only hubby’s message got a reply and had no problem having it closed. On Friday night when I logged in it was still listed but said Account Closed among the list of transactions.
    On Saturday morning, it was no longer on the list. Easy peasy. 🙂

    I’ll give it another day or 2 before sending another SM for the other 2.
    Maybe their SM inbox is overflowing? Lol.

  48. JASON says:

    QC as well

  49. STEVEN says:

    There’s a lot of comments here, can someone tell me whats currently the best way to open more accounts?

    • SamSimon says:

      I don’t think you will be able to open another accounts.They now enforced pretty much auto check for new accounts. And reject 95% of the people for more than one account. QC was the best, then QD, QK seems to be targeted – based on your zip code – if you near their branch!
      Please try and keep us posted. thanks

  50. Patti says:

    I have successfully closed our 2 oldest accounts by SM. Before submitting each request I did check to make sure that 6 statements posted to each of those accounts. No questions asked or harassment.
    I’m down to 6 accounts for each of us to babysit.

    • Ralphy Boy says:

      If I may ask, how long between closing your two oldest accounts did you wait? Were these both your accounts you’re referring to?

      I’m ready to close two accounts that are a week apart and was wondering if I should wait more than a week to close the second one.

      Any thoughts?

      • Patti says:

        Ralphy, I didn’t wait very long. Maybe 2 business days after the first one. No reason why you can’t spread them out further if you prefer.
        I’m just so relieved that it didn’t get nasty after the first request to close down.

        • Ralphy Boy says:

          Thanks for the info, sounds pretty painless…

          • Patti says:

            Also, to fully answer your question, I closed 2 accounts for myself, 2 for hubby, and 2 for our son.
            Each request though was only for 1 account at a time. Once closed, waited a day or 2 then SM’d 3 requests for each of our 2nd accounts.

            For some reason, the rep who answered for me and my son replied back to ask us to print our statements, and recent transactions as we would no longer have access to all of this online once the account is closed. I then had to reply for both of us to go ahead and close it.
            For hubby, his rep just closed it and replied back to simply say, as per your request, account ending in xxxx is now closed.

            Having to reply twice made it take a little longer but not a big deal; she was just being considerate I think.
            Around mid Oct we can aim for the next one.

            Another poster mentioned that they had to have 6 statements post to their account before the could close it without paying a fee. That’s a good tip to follow. 🙂

    • MarcoPolo says:

      I am assuming you transfer the balance to your other M&T account before requesting closure?

      • Patti says:

        I do transfer everything first so that it’s a $0 balance when I send the SM.
        There were 2 that were ripe. Waiting on the other 6. They only have a combined total of about $2.00. I was keeping a few hundred in there for several months but it was part of my vacation fund and I needed it for our summer vacation.

        • MarcoPolo says:

          Which option do you select from the drop down menu while sending the SM to close the account ?
          There isn’t any option for account closure or account related inquiries.

          • Patti says:

            Marco Polo,
            I think I clicked on General Comments. I’m at work right now but I’ll double check it when I get home.

          • Flea says:

            I agree “general” is the category to choose. FWIW, I’ve gotten the same person responding to my closing PM both times (waited a week between closings), and currently taking a break before closing the third, as I’ve got a distinctive name I thought same bank employee might remember.

          • Mikey says:

            I chose the general account questions to request closure of my first account after I transferred all of the funds out and waited until I received my 6th statement (and was at 190 days since opening).

            The agent that messaged back said that I needed to go to a branch or mail in the request to close the account.

            Messaged again this time choosing change account type (from open to close was my reasoning) and they closed it right away so guess YMMV depending on the agent who receives the request.

          • MarcoPolo says:

            Thanks @Patti
            It worked for me 🙂

    • Freddy says:

      Tried closing one of my accounts using SM choosing General Account Questions and was told I’d have to go to a branch or mail in the request. Sent another SM two days later choosing Change Account Type and got the same person giving me the same message to go to a branch or mail it this time saying there would be a $4 fee for doing so by mail.

      Guess I’m stuck either keeping the account open and try again after a while or eat the $4. Have three other accounts I was going to be closing in the next two months so hopefully I find an answer to this, don’t live near a branch.

  51. NBG says:

    DP: So far i closed 4 accounts – 1/day so far via SM. Like others said just made sure there are 6 statements so far. Most of them closed the say day as SM. For 1, i had to send a reminder SM.
    For another, i send another SM via a secondary login.

    4 more to go. 🙁

  52. Seb says:

    ACH from Chase does not anymore:

    My research shows an online transfer of $110.00 received on your account on October 2, 2017 from JP Morgan Chase.

    Please be advised that online banking transfers in between financial institutions will not qualify for the cash bonus. Direct deposits for example, include deposits from your employer, social security, pension, annuities and etc.

    • MarcoPolo says:

      Santander Bank works (if you have an account with them)

      • Patti says:

        Marco Polo,
        In the past pretty much ANY transfer worked to trigger the bonus. Who knows what works these days? Have you had a successful bonus by transferring from Santander in the past few weeks?

        Seems they have really cracked down. I suppose the only good thing is that one can keep trying and trying. If one method doesn’t trigger it, you’ll know in a couple days and can keep trying long before it’s too late.

        • Patti says:

          I don’t mean to sound snarky. It’s just that all of the old rules for M&T are gone. Anyone trying for an M&T bonus is sailing in uncharted waters these days.

          • MarcoPolo says:

            I know that because I have monthly payments set up (to avoid monthly maintenance fee) from Santander Bank and they still posts as payment and not transfer as compared to other banks e.g. Ally which posts as transfers.
            Also bonus posted successfully on my last opened account using QJ in late August using Santander to pay $100.

          • MarcoPolo says:

            I believe at Santander Bank the “payment” works differently than other bank’s ACH since you can pay anyone through Santander Bank while you cannot transfer to anyone other than yourself to/from other banks.
            In fact this is the only bank I am aware of which does not require verification and I think that’s because it is not an ACH but a payment.
            It will be interesting to see how “Zello” will work out form triggering Bank bonuses since it is also a “Payment” .

    • SamSimon says:

      Seb, what state are you in, do you have m&t close to you, what code did you use? Chase worked for many people, it might be it doesn’t work any longer! I doubt it! My friend will opened her first M&T few weeks ago, I will have real data soon if Chase no longer works…

  53. Seb says:

    @SamSimon I am in IL and I opened using QK. I ended up redirecting a portion of my paycheck to this.
    @MarcoPolo thanks but I closed my Santander account a while back.

    • SamSimon says:

      people are so funny, mate why you didn’t state these critical info before. But you confidently stated that Chase no longer works….. QK and QJ are targeted bonuses, only 10% of people will get it who leave near specific targeted branches based on their zip codes. Also you are not in eligible state. So now I’m 99% sure that Chase. You real payroll will not help in this case…

      • Seb says:

        Well that sucks then. If chase no longer works for a promo code it probably won’t work for other promo codes as well. It showed up as JPMORGAN CHASE AUTH DEBIT in my account.
        I’ll let my real DD go through for now and come back with an update on that.

        • SamSimon says:

          You didn’t get it. I will have real data by next week regarding Chase. There are hard coded bonuses, and light coded bonuses, M&T might change it, but it used to be these way, for QK and QJ if person was targeted he/she used any “eligible” ACH and it worked. But if person not targeted – even real pay roll will not help! They might enforce it to QD and QC which were “National wide” and everyone got the bonus with simple ACH.

          • SamSimon says:

            Ok, For the first M&T account (with QC code) ever opened at local branch with printed coupon for one person, Chase ACH cleared and no bonus:
            1. Maybe M&T now enforced 30-90 days waiting time before crediting the bonus
            2. Maybe they want you to call them, so they manually enforce the bonus and check if it’s real direct deposit…
            3. Maybe the bonuses now are no longer active for some specific areas. Let’s say, For targeted areas Chase ACH will still work, but for other areas it will not, because bonus not attached to the account.
            The person will try other different ACHs banks, and later Real Payroll.

  54. Patti says:

    I get what you’re saying about Santander. My little local bank works that way too as bill pay. I can enter a company or individual to send money to and there’s no need to link, prove ownership, etc because money is only travelling one way. I can’t pull funds back.

    I got QJ bonus also by this method. I didn’t try for QK because it seemed like a trap. Everyone who attempted it had their account frozen and closed. (I don’t want to burn my bridges or have negative chex reports.)

    M&T is cracking down in so many ways that it’s too soon to say for sure that Chase does’t work. There are too many variables to narrow it down to just that. Time will tell if his work dd triggers.

  55. Patti says:

    Also slightly unrelated, Santander push was not “real” enough to trigger the bonus for Citizens Bank. It’s good but not perfect. 🙂

    • MarcoPolo says:

      Agree, it depends on the level of data sent with the ACH push.
      I read somewhere that Business checking accounts offer “Direct Pay” which works as DD.
      Wells Fargo only need $500 in account to be fee free.

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