Posted by William Charles on July 5, 2017
Bank Account Bonuses

Published on July 5th, 2017 | by William Charles

366

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

Warning nobody is really receiving the bonus at the moment. This is definitely wait and see currently. We have more datapoints and discussions on this here.

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: None
  • Hard/soft pull: Soft
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: Avoidable
  • Early account termination fee: $50 180-days
  • Expiration date: August 18th, 2017
  • Household limit: None listed

The Offer

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

  • Open a new M&T personal checking account by August 18th, 2017 with the promotional code QJ 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

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

Account must be kept open for 180 days otherwise $50 bonus will be charged.

Our Verdict

Another M&T bonus, yay! People love these as you can get them out of state (just click out of the box asking for zip code originally) and you can also sign up for multiple accounts (with different codes) and get the bonus. Bonuses also post extremely quickly after meeting the requirements.  There are two other active bonuses currently:

This will be added to our best bank account bonus page as soon as we get confirmation that non targeted people have received the bonus.

Hat tip to readers Kevin & Zalmy

Useful posts regarding bank bonuses:

 



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JP
JP

Nothing but great things to say about your site guys, but I believe as this bank and its loose bonus requirements gets more and more exposure I am afraid my cash cow from last many years is soon gonna be butchered. Not being bitter but just know how its gonna end.

Dave
Dave

That’s why you drink from the well before it dries up.

NBG
NBG

How long has this bank been giving out like this?. I joined the party only this year.

Kevin
Kevin

Man I just wish I knew about this and started sooner! I just started last month! I already have $2225 in bonuses either already received or pending. I missed out on all the M&T bonuses that were available just a couple of months ago.

Sarah N
Sarah N

Me too Kevin. It makes me so sad.

Wong
Wong

You guys are lucky! I’m in the Bay Area and they keep on saying I have problems with my application

J
J

also from the Bay, also getting errors trying to open an account.

“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.”

Wong
Wong

Thanks for the data point, J. I think they’re rejecting based on the home address. I’ve tried a VPN and it was a no-go as well. I did consider signing up for an NJ mailing address… but I decided to just let this one go

MarcoPolo
MarcoPolo

Nothing to worry Kevin.
M&T bonus codes are often used on a cyclical basis.
It’s like it doesn’t matter where you jump on the “Merry Go Ride” but you will get to go around fully.

larry
larry

This is no different than some nutjob posting a class action settlement claim over at SD implying you will get $50. Then when you finally get a check, it’s for under $10 because they broadcasted it to the world. It’s the Internet get over it.

Cicero
Cicero

If I wanted to use the same code more than once, how long are people waiting for between applications?

Dave
Dave

I’m not sure you can reuse a code.

Cicero
Cicero

I have seen a few DP on reddit of people getting the bonus more than once using the same code. Check out the weekly bank bonus thread over there.

MarcoPolo
MarcoPolo

It’s a really really BAD idea.
Why kill the Golden Goose when it’s giving you a golden egg on a regular basis?

Eric
Eric

Another thing I learned is people will be greedy even when it goes against ethics and common sense.

Mimi
Mimi

I got bonus applying two days apart using same code last month.

MarcoPolo
MarcoPolo

This is what i have been waiting for.
Thanks Doc.

Shashi
Shashi

Applied for it and used the code QJ. My first account with M&T was opened 3 days ago with QD. Will wait and report if I receive the bonus.

Jim
Jim

Wow, awesome. Glad to hear about this data point.

Lots of folks, me included, have tried opening subsequent accounts, only to be met with the error. It’s been almost two weeks since my initial account, will give it some more time…

“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.”

Josh
Josh

I’ve seen some reports of only being able to open ~2 accounts per month since May.

jcb
jcb

I opened 3 in May no problem. Just opened a 4th on Friday and it’s showing up online.

Mimi
Mimi

“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.”xxx

DH got the same message when he applied last week so he thought his app was rejected. When he logged on to his acct on 7/3, he found a new acct was opened so he inquired via SM for the full acct number and made a $100 DD. His bonus posted today!

AD
AD

Interesting. Just got this message myself when trying to open my first account, using QJ. Since I don’t have a previous account, I can’t log in. Hmm. Maybe I’ll just SM them next week? Obviously not gonna call, since I live way outta state in CA.

Pat S
Pat S

Yes would like to know how quickly you can apply once you’ve opened up an account – thanks!

Rohith
Rohith

Does this work for texas residents?

Bhanna
Bhanna

Applied and received confirmation page with routing number but no account number… Account number was just blank… Can’t see new account listed when I log on to my online account… Only see my old accounts. Any info on this?

Dizzy
Dizzy

You can get your account number in the app.

lingua
lingua

+1

Cicero
Cicero

It’s normal. You will receive a letter with your account number in a few business days.

BHanna
BHanna

Great! Do you know if it is possible to add it to my existing log in or will I have to create a new login for it?

Mark
Mark

It will appear on your existing login within a few days. No need to create a new login.

James
James

Jeez I already have 8 accounts. I dunno if I should hold off for a while

Anthony
Anthony

Can you open multiple accounts with the same offer? If so, how long do you have to wait between applications? Thanks!

James
James

You can but I wouldn’t recommend it since it might raise some flags.

I just did 8 different offer codes. I waited a week inbetween each one.

Michael DeSena
Michael DeSena

could you email me all those that are still working? i see 3 on this page but keep hearing of more. thank you

jcb
jcb

Here are the ones I’ve done recently, some may be expired. You can just search by the code on this site and see.

QI
QH
QE
QD
QJ
QC

MarcoPolo
MarcoPolo

@Michael DeSena
Some of them are EXPIRED codes. You WILL NOT get the bonus on expired codes.
Only use the codes which are currently active ans listed on this site as not expired.

Dizzy
Dizzy

Ugh can’t remember which MT codes I’ve used already. Is there any way to check? I think I’m good here but not sure if I just used qc or qd whoops.

Mark
Mark

No way to check besides messaging the bank to ask which bonus was attached to your application, which would be a huge no-no in this case lol

Eric
Eric

There haven’t been too many $150 codes. If you didn’t receive $150 for a bonus yet you should be okay.

Jack
Jack

I remember reading (when I was trying to figure out if these were churnable) posts on another forum from the last time M&T went crazy with these bonuses, (5ish?) years ago. M&T eventually clamped down and clawed back those with many bonuses. (I wish I could find a link now or at least remember which forum.) I kind of wish I hadn’t seen that because I’ve been too cautious to take full advantage (only 5 accounts for me over the past year or so), yet I would probably be slaughtered too in a clawback. Not sure what to do. At some point they will clamp down. Maybe I should just get more aggressive closing them. I don’t know.

Superchurn
Superchurn

Closing them early has crossed my mind too, for this very reason

James
James

If anything, I think closing a bunch of accounts all at once would just draw attention to yourself

Mix
Mix

I would think that closing them early without enough to cover the etf and the “bonus clawback” could result in your bank account being closed with a negative balance. I’m guessing this would be pretty not-good for your ChexSystems report. But, I have no idea.

Karen
Karen

Are you safe from having the money clawed back if you only have a small balance in the account? I’ve been taking the bonuses out of the accounts but leaving a small balance in the accounts to keep them open.

Eric
Eric

No, they can make you have a negative balance which would lead to more and more fees.

Mimi
Mimi

from what I read, this happens when they freeze your account so you can’t do anything with it while monthly maintenance fees continue. depending on how many months your acct is frozen and what your balance was at the time they freeze it will determine if you’re going to a negative balance. in the past, they were all caught unaware until the hammer fell like a thief in the night 🙁

Mike t
Mike t

Curious where you.found that at. I’ve been hitting m&t hard and hsve found no d’s related to clawback. I found a do on this site where account shutdown sort of occurred. Some bizarre it thing where they inadvertently drew attention to themselves

Eric
Eric

That person had Mint login to his account many times. That’s definitely not a normal situation.

Darv
Darv

I don’t think it changes the fact that M&T didn’t like what he was doing. They became aware of it because of the IT issue with Mint. Which makes me wonder how aware M&T is of all this activity. Or maybe it was just the particular branch he was in that made the judgment call. Who knows.

On the other hand, it seems a fair amount of these applications go under manual review, or require some form of human approval. In some cases people have been told to just keep trying to apply if their apps don’t work. So there are good reasons to believe at least a lot of M&T staff know this is happening.

Hard to make sense of it all.

I can understand if they don’t like people taking advantage of so many bonuses, as their intent is likely to get long-term customers. But there’s nothing wrong with taking advantage of a promotion, even if a different one is offered to the same customer five times (different code). I don’t know why that would be grounds for a clawback or other adverse action. It’s not fraud. They are approving applications and that’s on them.

Or how about all the courtesy calls people get? These CSRs don’t look at a customer’s profile before calling? I find that hard to believe.

Deb
Deb

Well shit. I just added mine to my MInt account. Was it a problem with Mint or was it the typical Mint checks that did it? I added them to Mint to make life easier not to get eyes on my accounts.

NBG
NBG

Mint will keep trying to login in robo mode. So better sync your passwords with Mint whenever you chagneg in M&T. And set the password expiry to 365 days in M&T and put a alert for urself to change and sync (if u plan to keep the account open that long). The previous issue with mint was the person set the M&T password expiry short and once it expired, mint Robot fuber’d it.

MarcoPolo
MarcoPolo

I think reusing a code is a sure way for them to clawback all the bonuses that person earned in the past and very deservingly so.

anthonyjh21
anthonyjh21

I don’t understand what the difference is between the two $150 bonuses you linked? They both appear to have the same landing page as well.

Bo
Bo

Here is to #6. Oddly enough this is the first time I haven’t been given my account number at the end.

Jim
Jim

Congrats, may I ask approximately how long between applications/openings?

Bo
Bo

Probably 10-14 days. I always have waited until this bonus has posted on the first account before moving on to the next.

Jim
Jim

Great to hear.

May I ask if you in one of the prescribed states? Did you ever encounter the “Unable unable to process your application” error?

Bo
Bo

I am not. I am in AZ. I have not received any error when applying. The first account I attempted to open though was never open, they requested my SS card which I faxed in but the I never received anything with an account number or anything, so after about two weeks I tried again and it has been smooth sailing sense. I know some people get tripped up by the verification questions. I have always faxed in the signature card for each account as well.

Superchurn
Superchurn

that happens after a few applications. I stopped getting mine at account #3

Theory
Theory

There have been four different results in my attempts over the past six months:

(3 times) – Successfully open online, get the account number, account later shows up in online banking 1-5 days later.
(2 times) – Successfully open online, do not get account number, account later shown up in online banking 1-5 days later.
(2 times) – Successfully open online, do not get account number, account never shows up online.
(2 times) – Unsuccessful online attempt, told it cannot be processed through the online portal.

I tried this one just now, and opened successfully with an account number given. I have no idea what causes the difference in behavior.

Bo
Bo

#6 popped up in my online account this morning.

Superchurn
Superchurn

Applied, went to review 🙁

tsorua
tsorua

Declined on my last 5 M&T apps since 5/07/17…why…whyyyy

MoreSun
MoreSun

How long since your last app before you did this one? (Trying to get DPs on how long to wait between apps after being denied.)

Phil
Phil

FWIW, I opened the 2 $150 account bonuses a few days ago. Within minutes of each other. I also just opened this one and didn’t get denied.

AndyK
AndyK

Never have/had an M&T account, just discovered this trick you guys are doing today so wanted to join in, am not in target area. This is the message I get after applying: “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.”

Is there some sort of step in the trick that I missed? I clicked out of the enter zip code box and entered all the same info I used for every other bank account I ever opened…. any thoughts? It never asked any security questions either… was it supposed to? Grrrr

AndyK
AndyK

Well, after researching in other M&T threads here on DoC the best reason I can come up with for the rejection is that my IP (overseas) doesn’t match the mailing address I used (FL). There seems to be some data points about that which begs the question how this bank can be so “strict” about this while on the other hand paying out bonus after bonus after bonus? Very strange. When Firefox asked me if I wanted to share my location with M&T when I first visited the site I clicked “no” or “block location” or something to that effect. I didn’t share my location.

Mrs. Gee
Mrs. Gee

Andy, I also got a rejection when I tried to apply while on vacation out of state. I called M&T about it, since I had accounts with M&T in the past with no problem. The IP address not matching was the explanation I was given. I just waited until I got home and reapplied. I’ve had no difficulties opening accounts since then.

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