[Expired] M&T Bank, $300 Checking Account Bonus with $10K Deposit (Targeted, Select States)

There’s a new M&T Bank $300 checking account bonus available. These bonuses used to be churnable but that’s no longer the case and it’s likely that many readers will already have account and will not be eligible. This offer is different from the usual offers we have seen in the past and it requires a large deposit instead of a direct deposit.

$300 Bonus Requirements

In order to receive the bonus you need to:

Open any new MyChoice Plus checking account by May 25, 2018
Deposit a total of $10,000 or more by May 25, 2018
Maintain a $10,000 average daily balance in June and July 2018

Your $300 cash bonus will be credited by August 31, 2018.

Eligibility

This offer is only available to residents of CT, DC, DE, MD, NJ, NY, PA, VA and WV and only available to those who have received this offer directly.

Cash bonus offers are not available to employees of M&T Bank or any of its affiliates or to customers who have already received a bonus in connection with an M&T personal checking account within the preceding twelve-month period.

Fees

MyChoice Premium Checking has a monthly fee of $24.95 that is waived with

Average daily balance of $7,500 OR
Monthly direct deposit of $25,000

A $50 early close-out fee applies if the account is closed within 180 days of the date the account was opened.

Guru’s Wrap-Up

This is the highest bonus we have seen from M&T Bank, and it is a different structure. You need to deposit $10,000 and keep it there for the following two months to receive the $300 bonus. That will also take care of the monthly fee. But you will need to keep the account open for a full 6 months to avoid an early closing fee and that requires a balance of $7,500 for another 3-4 months to avoid the $24.95 fee. It could be easier to just pay the early closing fee. But, after you receive the bonus, you could probably downgrade to a EZChoice account that has no monthly fee.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.