Update 8/4/2017: This offer has not been working for lots of people. I also opened an account with this offer and didn’t receive bonus. Most likely it will not work if you have received a bonus in the past and are outside of eligible states. Probably YMMV though, if you really want to test it out. Let me know if it did or didn’t work for you.
M&T Bank is offering a new $200 bonus when you open a personal checking account. M&T Bank has had lots of these bonuses lately and we’ve seen bonuses as high as $250. You can take advantage of this new bonus even if you’ve applied for an account recently.
$200 Bonus Requirements
In order to receive the bonus you need to open a new personal checking account by August 18, 2017 and make a direct deposit of at least $100 within 90 days of account opening.
There’s no link to the bonus itself, but you can use promo code QJ when you sign up. To open the account online, simply visit the M&T Bank website, pick your account and make sure to enter promo code QJ.
The fine print says that the $200 bonus will be deposited within 90 days, but it is usually deposited on the same day as the “direct deposit”. I’ve been using ACH transfers from Capital One 360, but most major banks will work as well.
Fees
EZChoice Checking is the best option. You can avoid the $6.95 monthly fee just by making one transaction such as a deposit, withdrawal, or debit purchase every month. Even a small transfer between M&T accounts will satisfy that requirement.
Basic Checking is also an option, with a non waivable $3 monthly fee.
Eligibility
This offer is only available to residents of CT, DC, DE, MD, NJ, NY, PA, VA and WV but it has been working nationwide. This bonus is churnable and you’re able to get it even if you currently have an account open. Just make sure you use a different promo code for each new account. New accounts will show up in the same log-in.
How To Close M&T Bank Accounts
I believe you were previously able to close the account via secure message online, but now you have to go in-branch or mail in a letter. Additionally, there’s a $4.00 mail closing fee and a $10.00 Official Check fee to mail your remaining balance to you. To avoid the Official Check fee, you can write a check for your balance and then close account.
Another option is to just leave it open for now and make sure you fulfill requirements to waive monthly fee.
Guru’s Wrap-Up
A great bonus from M&T Bank. Definitely take a look if you’re in one of the lucky states and most likley in other states as well. The account can be opened online also and all you need to do is a direct deposit of $100. They’re pretty lenient on what counts as a direct deposit. This is one of the best checking account bonuses around since it’s churnable and we’ve seen tons of these bonuses lately.
$200 is the best bonus we have seen for a EZChoice account, although they’ve also had a $250 bonus in the past for their premium account.
Offer Details
- Apply Here
- Account Type: EZChoice Checking
- Availability: CT, DC, DE, MD, NJ, NY, PA, VA, WV (but works nationwide)
- Expiration Date: 8/18/2017
- Inquiry Type: Soft Pull (Don’t select the overdraft protection)
- Credit Card Funding: No
- Direct Deposit Requirement: Yes, $100 or more
- Monthly Fee: $6.95, waived with one monthly transaction (deposit, withdrawal, debit purchase)
- Promo Code: QJ
- Closing Fee: $50 if closed within 180 days
HT: DoC
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