[Expired] M&T Bank $200 Checking Bonus [CT, DC, DE, FL, MA, MD, NJ, NY, OR, PA, VA, WV]

This bank bonus has expired, but you can view a list of the best bank bonuses here.

Offer at a glance

• Maximum bonus amount: $200
• Availability: While it will let you open an account online anywhere, it won’t actually work unless you live in one of the following states: CT, DC, DE, FL, MA, MD, NJ, NY, OR, PA, VA, WV
• Direct deposit required: Yes, must direct deposit $100+
• Additional requirements: None
• Hard/soft pull: Soft
• Credit card funding: None
• Monthly fees: $6.95, waive-able
• Early account termination fee: $50, 180 days
• Expiration date: September 12th, 2015 

The Offer

• Open a MyChoice checking account with the promotional code ‘QM’, receive a direct deposit of at least $100 and receive a sign up bonus of $200 from M&T bank.

 

The Fine Print

• Valid until September 13th, 2015
• Qualifying direct deposits include but are not limited to: electronic deposits such as payroll or social security.
• Direct deposit must be received within 90 days of account opening
• Bonus will post to the account within 90 days of meeting the bonus requirements
• Offer may vary by region
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Early Account Termination Fee

There is an early close out fee of $50 according to these terms & conditions if you cancel within 180 days of signing up.

MyChoice Checking

You need to open a basic MyChoice checking account to get this bonus. This account has a monthly fee of $6.95 that can be waived with any of the following methods:

• Receive direct deposits totaling $200 or more per monthly service charge period
• Make 10 or more monthly debit card purchases per monthly service charge period
• Keep an average daily balance of $500 or more per monthly service charge period

M&T Bank is one of the few banks that doesn’t give you a grace period, these must be completed your first month otherwise you’ll be charged the fee.

Our Verdict

Update: Reader Jeff has reported receiving the bonus, as such we’ve added it to our best bonus page.

This bank is also offering a bonus of $150, with a landing page – which might be a better option for those not wanting to risk it without getting confirmation of the bonus before signing up (adding the promotional code doesn’t give confirmation)/not wanting to go in branch to confirm. That being said this bonus has the same requirements, but gives $50 more so hopefully somebody is able to find a dedicated landing page for this bonus as well.

One of the nice things about M&T bank is that the bonus posts the day after receiving the direct deposit requirement for most people. We haven’t added this bonus to our best bonus list due to the no confirmation issue, but will do if somebody finds a direct link. We have however added it to our sortable bank bonus list with all current deals that are available.

Hat tip to reader David M.