M&T Bank Promotions: Up to $250 New Checking Bonus

M&T Bank Logo

M&T Bank is offering three different cash bonus promotions if you open up a checking account by 10/5/2021. Simply apply online or visit your local M&T Bank to open an account and set up a direct deposit totaling a certain amount within 90 days to receive your bonus.

When it comes to regional banks, M&T Bank is one of the largest and most recognizable in the northeast United States. It helps that they have their name all over M&T Bank Stadium, home of the NFL's Baltimore Ravens!

Founded in 1865, M&T Bank stands for Manufacturers and Traders Trust. They are headquartered in Buffalo, NY and its FDIC# is 588.

Living in Baltimore, we see M&T Bank branches all over the place. Their headquarters are in the northern part of New York but they have branches scattered throughout the northeast of the United States.

If you are near an M&T Bank, you can take advantage of one of the most generous bank promotions available right now.

M&T Bank promotions are available to residents: of .

Here are the current offers, all of which expires on 10/5/2021.

M&T Bank runs different promotions in different areas. The accounts are the same but the amount of the welcome bonus will vary. The values listed below are ranges and the screenshot was taken in a Maryland ZIP code.

Check out our full review of M&T Bank here.

EZChoice Checking Account – $150

You can get $150 when you open an EZChoice Checking account and receive at least $500 in qualifying direct deposits within 90 days of account opening.

The EZChoice Checking has no monthly maintenance charge and no minimum balance requirement – but the minimum opening balance is $25.

Learn more about this offer

MyChoice Plus – $250

You can get $250 when you open a MyChoice Plus checking account and receive at least $500 in qualifying direct deposits within 90 days of account opening.

The MyChoice Plus offers ATM surcharge rebates and some interest, though you must have direct deposits of $1,500+ or more each month or a $2,500+ average daily balance to avoid the $14.95 monthly maintenance charge.

Learn more about this offer

MyChoice Premium – $250

You can get $250 when you open a MyChoice Premium checking account and receive at least $500 in qualifying direct deposits within 90 days of account opening.

The MyChoice Premium offers exclusive rates on deposits and loans, though you must have cumulative direct deposits of $7,500+ or more each month or a $25,000+ average daily balance to avoid the $24.95 monthly maintenance charge.

Learn more about this offer

How Does This Promotion Compare?

We maintain a list of the best bank promotions over $100 and the dollar amounts of the promotions are comparable to the highest on the list. MyChoice Plus is reasonable with its $2,500 minimum balance to avoid a fee but the MyChoice Premium is a little high at $25,000 to avoid the fee. Very few people have direct deposits totaling $7,500 each month.

Wells Fargo has a $200 welcome bonus if you open a Wells Fargo Everyday Checking account with a deposit of $25+ and then set up and receive a total of $1,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening. The $10 monthly fee is waived if you maintain a $1,500 minimum daily balance or have direct deposits of $500 or more. Each of these should be easy to achieve if you can meet the direct deposit requirement.

Learn more about the Wells Fargo offer

Finally, we have TD Bank new account promotions that offer $300 for new TD Beyond Checking accounts and $2,500 in direct deposits. You can avoid the monthly maintenance fee if you have direct deposits of $5,000+ or maintain a balance of $2,500 or have $25,000 combined across eligible TD accounts. The TD Convenience Checking has a $150 bonus and you only need $500+ in direct deposits within 60 days. You avoid fees on that account if you maintain a very attainable $100 minimum daily balance.

The EZChoice Checking promotional and the MyChoice Plus offers are OK but you can certainly do better than the MyChoice Premium and its high minimums.

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About Jim Wang

Jim Wang is a thirty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

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  1. Amber says

    Can you still get the sign up bonus if you don’t do the 25$ minimum opening deposit when opening the account? What if it doesn’t ask for the 25$ and let’s you open the account without it saying you will give it in the 60 day period along with the 500$ direct deposit you are going to do in order to get the sign up bonus. Will you still get the bonus without the first day 25$ but do the direct deposits each week after totaling way more than 500$ in the 60 day period

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