M&T Bank is offering a new bonus, this one for $250 when you open a personal checking account. M&T Bank has had lots of these bonuses lately and they keep on coming. These are all similar, but require a different promo code. This one has some new restrictive language.
$250 Bonus Requirements
In order to receive the bonus you need to open a new MyChoice Premium checking account by May 31, 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 QH 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 QH. You can also call or visit a branch if you have the coupon or call 1-800-724-3222.
The fine print says that the $250 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.
This looks like a targeted offer, but similar offers have been working recently even for those not targeted.
Fees
MyChoice Premium Checking is required for this bonus. The account comes with a $24.95 monthly fee that can be waived with a daily balance of $7,500.
There’s also an Early Account Closure Fee of $50.00 if account is closed within 180 days of opening.
Eligibility
This offer is only available to residents of CT, DC, DE, MD, NJ, NY, PA, VA and WV. This bonus is churnable and you’re able to get it even if you currently have an account open.
However this bonus has some new restrictions in the fine print:
Primary signer on the new checking account may not be or have been a primary or secondary signer on any M&T personal checking account within the previous six (6) months. Only one bonus awarded per household.
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.
Guru’s Wrap-Up
This bonus is not as good as previous ones, since it requires to open a MyChoice Premium Checking account. The $24.95 monthly fee can be waived with a $7,500 balance. It also includes some language indicating that you won’t get the bonus if you’e had an account in the last 6 months and restricts it to one per household. Proceed with caution with this one if you’ve opened another M&T account recently.
Offer Details
- Open Account Online
- Account Type: MyChoice Premium Checking
- Availability: CT, DC, DE, MD, NJ, NY, PA, VA, WV
- Expiration Date: 5/31/2017
- Inquiry Type: Soft Pull (Don’t select the overdraft protection)
- Credit Card Funding: No
- Direct Deposit Requirement: Yes, $100 or more
- Monthly Fee: $24.95, waived with $7,500 monthly fee
- Promo Code: QH
- Closing Fee: $50 if closed within 180 days
HT: DoC
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