M&T Bank Bonuses

M&T offers promotional bonuses for a variety of account types

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With the growth of fintechs and online banks, traditional banks have more competition for customers than ever. To appeal to new customers, these banks often offer substantial cash bonuses. 

M&T Bank is no exception. Opening a new checking account and meeting the bank’s deposit requirements could net you as much as $500 in bonus cash. And M&T’s accounts have useful added benefits, such as no monthly maintenance charges and unlimited check writing.

M&T Bank : EZ Choice Checking - $100


M&T Bank

 M&T Bank

  • Bonus Amount: $100
  • Promotion Expiry: May 31, 2023
  • Qualifications: Direct deposit
How to Get the Bonus
  1. Open a new account: Open an M&T EZ Choice checking account with at least $25 as the opening balance.
  2. Enroll in direct deposit: Make at least $500 in qualifying direct deposits within the first 90 days after account opening. Qualifying direct deposits include electronic payroll, pension, or Social Security payments. 
  3. Wait for the bonus: The bonus is credited to your account within 90 days of meeting the promotion requirements.

M&T Bank is a regional bank. It operates nearly 700 banking offices in Connecticut, Delaware, New Jersey, New York, Maryland, Pennsylvania, Virginia, West Virginia, and the District of Columbia. It also has a full-service commercial banking office in Toronto, Canada. Use the locator tool to find a branch near you.

Bonus Restrictions and Account Fees

The $100 cash bonus is only available to new account holders. M&T Bank will only award one bonus per customer, regardless of how many accounts you open. You aren’t eligible for this bonus if you’ve received a bonus from M&T Bank due to opening a personal checking account within the past 12 months. M&T Bank employees and affiliates cannot receive the cash bonus offer.

If you close your account within 180 days of its opening date, M&T Bank will charge you a $50 closeout fee. 

The EZ Choice Checking Account charges no monthly maintenance fees and does not have a minimum monthly balance requirement. You can opt for paper or electronic statements at no charge.

There is a $3 fee when you use non-M&T Bank ATMs.

M&T Bank : My Choice Plus Checking - $150


M&T Bank

 M&T Bank

  • Bonus Amount: $150
  • Promotion Expiry: May 31, 2023
  • Qualifications: Direct deposit
How to Get the Bonus 
  1. Open a new account: Open a new My Choice Plus checking account by May 31, 2023, with a minimum deposit of $25. You can open an account online or in person at a local branch. 
  2. Sign up for direct deposit: Sign up for direct deposit and make at least $500 in qualifying direct deposits within 90 days of opening the account.
  3. Receive the cash bonus: Once you’ve met the requirements, M&T Bank will issue you the cash bonus within 90 days.
Bonus Restrictions and Account Fees

The $150 cash bonus is only available to new M&T Bank customers. Only one bonus will be issued per customer, and a $50 close-out fee applies if you close the account within 180 days of account opening.

Qualifying direct deposits include electronic deposits of payroll, pension, or Social Security payments. Bank transfers, electronic fund transfers, and person-to-person transfers don’t count as qualifying deposits.

The following fees apply:

  • Monthly maintenance: $14.95 ($4.95 in New Jersey); the fee may be waived if you maintain an average daily balance of $2,500 ($500 for accounts in New Jersey), or have direct deposits to the account totaling at least $1,500 per month ($500 for accounts in New Jersey)
  • ATM: $3 for non-M&T Bank transactions
  • Overdraft: $15 per item

M&T Bank : My Choice Premium Checking - $200


M&T Bank

 M&T Bank

  • Bonus Amount: $200
  • Promotion Expiry: May 31, 2023
  • Qualifications: Direct deposit
How to Get the Bonus 
  1. Open a new account: Open a new My Choice Premium checking account online or in person at a local branch; a minimum $25 deposit is required.
  2. Enroll in direct deposit: Sign up for direct deposit and make at least $500 in qualifying direct deposits within 90 days of account opening.
  3. Wait for the bonus: The cash bonus will be issued within 90 days of meeting the promotion’s requirements.
Bonus Restrictions and Account Fees

The My Choice Premium Checking account is an interest-bearing checking account. To qualify for the cash bonus, you must be a new M&T Bank customer. Qualifying direct deposits include payroll, Social Security, or pension payments. A $50 close-out fee applies if you close your account within 180 days of its opening date. 

The following fees apply: 

  • Monthly fee: $24.95; the fee may be waived if you maintain an average daily balance of $7,500 or more, or keep a total combined balance of $25,000 or more in eligible personal deposit accounts, loans, and home equity balances
  • ATM: $3 for non-M&T Bank transactions
  • Overdraft: $15 per item

M&T Bank : Tailored Business Checking - $500


M&T Bank

 M&T Bank

  • Bonus Amount: $500
  • Promotion Expiry: March 31, 2023
  • Qualifications: Minimum balance
How to Get the Bonus 
  1. Open a new business checking account: You can open a Tailored Business Checking account online or in person at a local branch. The account must be opened by March 31, 2023.
  2. Deposit $5,000 or more: The average ledger balance of the account in the third full calendar month after account opening must be at least $5,000.
  3. Receive the bonus: If the account is kept open, the bonus will be credited to the checking account within 45 days of the end of the third calendar month.
Bonus Restrictions and Account Fees

Customers with a non-personal M&T checking account within the previous 90 days are not eligible for the cash bonus. Only one bonus is awarded per customer, regardless of the number of accounts opened. If you close the account within the time period specified in the account agreement, there is a $50 close-out fee.

There is a $20 monthly maintenance fee, which is waived for the first three months.

Compare M&T Bank Promotions

Promotion  Bonus Amount  Promotion Expiry  Qualifications 
EZ Choice Checking $100 May 31, 2023 Direct deposit
MyChoice Plus Checking  $150  May 31, 2023 Direct deposit 
MyChoice Premium Checking  $200  May 31, 2023 Direct deposit 
Tailored Business Checking $500  March 31, 2023  Minimum balance 

Frequently Asked Questions

  • Are M&T Bank Bonuses Taxable?

    Cash bonuses earned by opening new bank accounts are taxable as income and must be reported on your tax return. When you receive a bonus from a bank, it will likely send you a Form 1099-INT (Interest Income) for the amount of the bonus. This amount is what you’ll report on your taxes.

  • Who Is Eligible for M&T Bank Bonuses?

    To qualify for a bonus from M&T Bank, you must be a new checking account customer and meet the promotion’s requirements, which are usually deposit or minimum balance requirements. 

    You must live in a state where M&T Bank operates; otherwise, you aren’t eligible for the bonus. If you don’t live in a qualifying state, you can find other options with the best overall bank account bonuses.

  • What Account Types Does M&T Bank Offer?

    M&T Bank is a full-service bank. It offers a range of personal and business options, including: 

Close up of young woman inserting her bank card into automatic cash machine in the city

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Article Sources
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  2. M&T Bank. "Campaigns."

  3. M&T Bank. "Find A M&T Bank Branch Or ATM By State."

  4. M&T Bank. "A Guide to M&T Personal Checking Accounts and Common Fees," Page 2.

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